Mumbai (Maharashtra) [India], September 23: Peshwa Wheat Limited is an Indore-based integrated grain processing company that mills wheat into Atta – wheat flour, Sortex Wheat, Broken Wheat and Wheat Bran, and also produces Maize Flour and Gram Flour (Besan), proposes to open its Initial Public Offering on Thursday, September 24, 2026. The Company is raising up to ₹53.52 Crore through a fresh issue of 52,99,200 Equity Shares, which will be listed on the BSE SME platform.
Total Issue Size – 52,99,200 Equity Shares of ₹10 each
IPO Size – ₹53.52 Crore
Price Band – ₹95–₹101 per share
Lot Size – 1,200 Equity Shares
(*Bids can be made for a minimum of 2,400 Equity Shares and in multiples of 1,200 Equity Shares)
The issue comprises 52,99,200 Equity Shares of face value of ₹10 each and is offered in the price band of ₹95–₹101 per share, aggregating up to ₹53.52 Crore at the upper end of the price band. The issue and the net issue will constitute 27.85% and 26.30%, respectively, of the post-issue paid-up equity share capital of the Company, which will stand at 1,90,28,196 Equity Shares against 1,37,28,996 Equity Shares prior to the Issue. The net issue comprises 50,04,000 Equity Shares after excluding the Market Maker Reservation Portion of 2,95,200 Equity Shares.
Equity Share Allocation
Market Maker Reservation Portion – 2,95,200 Equity Shares
Qualified Institutional Buyers – Not more than 49,200 Equity Shares
Non-Institutional Investors – Not Less than 24,51,600 Equity Shares
Individual Investors – Not Less than 25,03,200 Equity Shares
The net proceeds from the IPO will be utilized towards funding capital expenditure towards the purchase of plant and machineries of ₹669.09 Lakhs, civil construction of ₹501.20 Lakhs, funding working capital requirements of ₹2,650.00 Lakhs and general corporate purposes. The issue will open on Thursday, September 24, 2026 and will close Monday, September 28, 2026. There is no Anchor Investor Portion in the Issue, and the entire Issue constitutes a fresh issue of equity shares with no offer for sale.
The Book Running Lead Manager to the Issue is Finaax Capital Advisors Private Limited. The Registrar to the Issue is Maashitla Securities Private Limited. The Market Maker to the Issue is Bhansali Value Creations Private Limited.
Mr. Rahat Ali Saiyed, Promoter, Chairman & Managing Director of Peshwa Wheat Limited said, “Over the last three fiscals we have grown almost entirely by putting our existing plant to fuller use, taking capacity utilisation from 58.73% to 90.10%, while continuing to buy the whole of our wheat within Madhya Pradesh, directly from farmers who bring their samples to our unit at Bijepur, Indore. With utilisation now close to its ceiling, the Net Proceeds will be applied towards a highly automated roller flour mill and a chakki whole wheat atta mill at the same site, taking installed capacity from 56,100 MTPA to 1,02,600 MTPA, together with working capital to support the larger throughput. Our processing model also uses Broken Wheat and Wheat Bran for cattle and poultry feed.”
Mr. Ikshit Shah, Director of Finaax Capital Advisors Private Limited said, “Peshwa Wheat Limited has recorded revenue from operations of ₹21,593.52 Lakhs in Fiscal 2026 against ₹8,812.98 Lakhs in Fiscal 2024.”
About Peshwa Wheat Limited:
Peshwa Wheat Limited is an Indore-based integrated grain processing company. Operations run from a single integrated processing unit at Village Bijepur, Tehsil Depalpur, Indore, Madhya Pradesh, equipped with automated cleaning, sortex and roller-milling lines and an installed capacity of 56,100 MTPA, of which 50,546 MT was produced in Fiscal 2026 at a capacity utilisation of 90.10%. The Company mills and supplies six products — Atta – wheat flour, Sortex Wheat, Broken Wheat, Wheat Bran, Maize Flour and Gram Flour (Besan) — in 30 kg and 50 kg packs.
The whole of the Company’s raw material is procured within Madhya Pradesh, direct from farmers who bring samples to the unit for testing, and sales are made in the B2B segment through super stockists, who accounted for ₹11,530.95 Lakhs or 53.40% of revenue from operations in Fiscal 2026, and through direct bulk customers at ₹10,062.57 Lakhs or 46.60%. Wheat bran arising in milling is sold into cattle and poultry feed. The unit operates under ISO 22000:2018 food safety management certification and FSSAI licences, with two-stage inbound testing, in-process control and batch-level finished goods checks.
The Company was originally formed as a partnership firm, M/s. Peshwa Wheat, under a Deed of Partnership dated September 13, 2017 and was converted into a public limited company on December 26, 2023. The Promoters are Rahat Ali Saiyed, Sadaf Saiyed, Shehnaj, Mo. Jed and Riyazuddin Qureshi.
In FY26, the Company achieved a Revenue from Operations of ₹21,593.52 Lakhs, EBITDA of ₹2,273.34 Lakhs & PAT of ₹1,580.82 Lakhs.
In FY25, the Company achieved a Revenue from Operations of ₹17,153.50 Lakhs, EBITDA of ₹1,804.59 Lakhs & PAT of ₹1,183.61 Lakhs.
Return on equity stood at 44.96% and return on capital employed at 33.44% in Fiscal 2026, with the debt-equity ratio at 0.55 times and net asset value per equity share at ₹31.37 as at 31 March 2026.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice, an offer to sell, or a solicitation to subscribe to the securities of Peshwa Wheat Limited. The proposed public issue is subject to applicable statutory and regulatory approvals, market conditions and other considerations. Investors are advised to read the Red Herring Prospectus/offer document and the related risk factors carefully before making any investment decision. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer: The information provided in this article is for informational and educational purposes only. It does not constitute financial, legal, or investment advice. Readers should not rely on this content to make investment decisions. We strongly recommend consulting with a licensed financial advisor or conducting your own due diligence before making any financial commitments.
