SSMD Agrotech India Limited is launching a ₹34.09 crore SME IPO — a fresh issue of 28,17,000 shares aggregating to ₹34.09 crore. The offer opens on November 25, 2025 and closes on November 27, 2025, with allotment expected on November 28 and a proposed listing on BSE SME on December 2, 2025. The price band is ₹114 to ₹121 per share; the minimum retail application is 2 lots (2,000 shares) = ₹2,42,000 at upper band.
SSMD Agrotech India IPO
SME Book‑built issue (Fresh)
UPCOMING IPOSSMD Agrotech India Limited is launching a ₹34.09 crore SME IPO — a fresh issue of 28,17,000 shares aggregating to ₹34.09 crore. The offer opens on November 25, 2025 and closes on November 27, 2025, with allotment expected on November 28 and a proposed listing on BSE SME on December 2, 2025. The price band is ₹114 to ₹121 per share; the minimum retail application is 2 lots (2,000 shares) = ₹2,42,000 at upper band.
| Face Value | ₹10 per share |
|---|---|
| Issue Price Band | ₹114 to ₹121 per share |
| Offer Structure | Fresh Issue (SME) |
| Total Shares | 28,17,000 shares (aggregating up to ₹34.09 crore) |
| Reserved for Market Maker | 1,56,000 shares (₹1.89 crore) — Nikunj Stock Brokers Ltd. |
| Net Offered to Public | 26,61,000 shares (aggregating up to ₹32.20 crore) |
| Issue Type | Book‑building IPO (SME) |
| Listing | BSE SME |
| Shareholding (Pre / Post) | 58,49,129 / 86,66,129 shares |
| Lead Manager | 3Dimension Capital Services Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
| Investor Category | Shares Offered | Share % |
|---|---|---|
| Market Maker | 1,56,000 | 5.54% |
| QIB | 27,000 | 0.96% |
| NII (HNI) | 13,17,000 | 46.75% |
| Retail (RII) | 13,17,000 | 46.75% |
| Total | 28,17,000 | 100.00% |
| IPO Open | Tue, Nov 25, 2025 |
|---|---|
| IPO Close | Thu, Nov 27, 2025 |
| Allotment (Tentative) | Fri, Nov 28, 2025 |
| Initiation of Refunds | Mon, Dec 1, 2025 |
| Credit to Demat | Mon, Dec 1, 2025 |
| Listing (Tentative) | Tue, Dec 2, 2025 |
| UPI Mandate Cut‑off | 5 PM on Thu, Nov 27, 2025 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,42,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,42,000 |
| S‑HNI (Min) | 3 | 3,000 | ₹3,63,000 |
| S‑HNI (Max) | 8 | 8,000 | ₹9,68,000 |
| B‑HNI (Min) | 9 | 9,000 | ₹10,89,000 |
Amounts calculated at upper price band (₹121 per share).
SSMD Agrotech India Ltd (“House of Manohar”) manufactures, trades and repacks agro‑food products under brands like Manohar Agro, Super S.S., Delhi Special and Shri Dhanlaxmi. Product range includes puffed rice, gram flour, chana dal by‑products and other staples. The company sells through distributors across Delhi/NCR, Haryana, UP, Punjab and Uttarakhand and runs D2C micro units and dark stores.
Promoters
Mr. Ishu Munjal, Mrs. Surbhi Munjal, Mr. Jai Gopal Munjal.
Promoter Holding
| Pre‑Issue | 100% |
|---|---|
| Post‑Issue | TBA |
FY2023 – FY2025 (₹ crore)
| Period Ended | Assets | Total Income | Profit After Tax | EBITDA | Net Worth | Reserves | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 32.33 | 52.13 | 3.84 | 5.79 | 10.76 | 4.91 | 6.88 |
| FY2025 (31 Mar 2025) | 18.16 | 99.18 | 5.38 | 8.47 | 6.92 | 6.39 | 6.07 |
| FY2024 (31 Mar 2024) | 15.60 | 73.45 | 1.10 | 3.23 | 1.33 | 0.02 | 7.02 |
Source: RHP/DRHP and IPO trackers. Revenue up ~35% and PAT surged ~388% YoY (FY24→FY25).
| ROE | 130.46% |
|---|---|
| ROCE | 100.85% |
| Debt/Equity | 0.88 |
| RoNW | 78% |
| PAT Margin | 5.42% |
| EBITDA Margin | 8.54% |
| Price to Book Value | 9.65 |
| Market Capitalization | ₹104.86 Cr. |
| S.No | Object | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding of Working capital Requirement of the Company | 13.10 |
| 2 | Repayment of portion of certain Borrowings | 6.83 |
| 3 | CapEx for new D2C dark Store factories | 2.04 |
| 4 | CapEx for purchase of machinery for Namkeen Plant | 0.97 |
| 5 | General Corporate Purpose | TBA |
Company Contact
SSMD Agrotech India Ltd.
Khasra No. 640/641, Libaspur Road, Village Siraspur, North West Delhi, New Delhi, 110042
Phone: 011-45380705
Email: cs@houseofmanohar.com
Website: http://www.houseofmanohar.com/
Registrar
Bigshare Services Pvt. Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Lead Manager
3Dimension Capital Services Ltd.
Analyst note: SSMD Agrotech shows strong RoE/ROCE and sharp margin improvement, but SME issues have concentrated holdings and lower liquidity. Review valuation (P/B), working capital use and peer metrics. Suitable for investors seeking small‑cap SME exposure with tolerance for lower liquidity.
Refer to the SSMD Agrotech DRHP/RHP for full details. All figures are per the RHP and credible IPO trackers; post‑issue exact allotment numbers will be updated after allotment.