Peshwa Wheat IPO opens September 24, price band set at Rs 95-101

Peshwa Wheat Limited, a company that processes and supplies wheat-based products, is set to enter the stock market with an initial public offering worth Rs 53.52 crore. The IPO will open for investors on September 24, 2026 and close on September 28, 2026. The company's shares will list on the BSE SME platform on October 1, 2026.

The company has set a price band of Rs 95 to Rs 101 per share for the IPO. A total of 52.99 lakh shares are on offer, of which 50.04 lakh are a fresh issue and 2.95 lakh are reserved for the market maker. Retail investors have 25.03 lakh shares reserved for them, amounting to 50.02 percent of the total issue.

The IPO's lot size is 1,200 shares, but retail investors must apply for a minimum of 2,400 shares, or two lots. At the upper end of the price band of Rs 101, this would require an investment of Rs 2,42,400. HNI investors must apply for a minimum of 3,600 shares, which would cost Rs 3,63,600.

The company has also detailed how it will use the funds raised. Rs 6.69 crore will go toward buying plant and machinery, Rs 5.01 crore toward civil construction, and Rs 26.50 crore toward working capital. The remaining amount will be set aside for general corporate purposes. Finex Capital Advisors is the lead manager for the issue, and Maashitla Securities is the registrar.

The company's revenue and profit both grew significantly in financial year 2026. Total income rose from Rs 171.55 crore in FY2025 to Rs 215.96 crore in FY2026. EBITA rose from Rs 18.05 crore to Rs 22.73 crore, and profit after tax rose from Rs 11.84 crore to Rs 15.81 crore.

As of March 2026, the company's return on equity stood at 44.96 percent and return on capital employed at 33.44 percent. Its debt to equity ratio is 0.55, while its EBITA margin is 10.53 percent and PAT margin is 7.32 percent. Promoter holding will fall to 52.39 percent after the IPO.

Meanwhile, in the unofficial grey market in Ahmedabad, Rajkot and Surat, the share is commanding a premium of Rs 58 to Rs 60, which could mean a listing gain of 57 to 59 percent over the upper price band of Rs 101. The company, founded in 2023, manufactures wheat-based processed food products at its plant in Indore and supplies institutional and wholesale customers across four states.