Mumbai: Peshwa Wheat Limited’s ₹53.52-crore initial public offering (IPO) witnessed robust institutional demand on its opening day, with the Qualified Institutional Buyer (QIB) portion receiving bids for around 177 times the shares reserved for the category.
The company received bids for 87.14 lakh shares from QIBs against just 49,200 shares available in the institutional portion. The value of these bids stood at approximately ₹88 crore.
IPO Price Band And Listing
Peshwa Wheat is offering 52.99 lakh equity shares with a face value of ₹10 each. The IPO price band has been fixed at ₹95 to ₹101 per share.
The issue will remain open for subscription until September 28, while the company’s shares are proposed to be listed on the BSE SME platform on October 1, 2026.
Grey Market Premium Surges
The strong institutional response has also coincided with a sharp increase in the company’s unofficial grey market premium (GMP).
According to offline market checks cited in the supplied material, Peshwa Wheat shares commanded a GMP of around ₹85 to ₹90, compared with approximately ₹58 to ₹60 before the issue opened.
At the upper price band of ₹101, the latest GMP indicates an unofficial reference price of approximately ₹186 to ₹191 per share.
Financial Performance
Peshwa Wheat reported total income of approximately ₹215.96 crore in FY26, while EBITDA stood at ₹22.73 crore. Profit after tax came in at ₹15.81 crore, representing year-on-year growth of around 34 per cent.
At the upper price band, the issue is valued at approximately 8.77 times FY26 earnings, based on reported EPS of ₹11.51.
Capacity Expansion In Focus
The company currently has installed processing capacity of 56,100 MTPA, with capacity utilisation reaching 90.01 per cent in FY26.
Peshwa Wheat plans to add 46,500 MTPA of capacity, potentially increasing its total installed capacity to approximately 1,02,600 MTPA.
The IPO is entirely a fresh issue, with proceeds proposed to fund plant and machinery, civil construction, working-capital requirements and general corporate purposes.
