Adon Agro Commodities Summary
Adon Agro Commodities Ltd. (2022) is an agro-commodities trading & processing firm based out of Mumbai that is into sourcing, importing, processing, packaging, and marketing of dry fruits, nuts, seeds, and berries. The product portfolio comprises almonds, cashews, walnuts, raisins, pistachios, dates, apricots, figs, and dry fruit mixes. The company sources products not only from India but also from other international geographies including UAE, Afghanistan, Chile, USA, and Sri Lanka. The company sells its branded products under the brand name "Hunger Nuts" through various modes including B2B, wholesale, corporate gifts, modern retail supply chain, export, and direct-to-consumer online platform.
Adon Agro Commodities BSE SME IPO is a book built offering of 62,90,000 equity shares (with face value of ₹10 each) with an aggregate of up to ₹44.03 Cr at the price of ₹66–₹70 per share with the issue starting from June 29, 2026 and ending July 1, 2026 with the tentative listing on July 6, 2026 on BSE SME. The book running lead manager is Galactico Corporate Services Pvt. Ltd. while the registrar is KFin Technologies Ltd.
Adon Agro Commodities IPO Details:
Adon Agro Commodities Limited Issue Management:
Galactico Corporate Services Pvt. Ltd. acts as the book-running lead manager for Adon Agro Commodities BSE SME IPO, managing underwriting and compliance.
Adon Agro Commodities Limited IPO RTA (Registrar) Details:
Kfin Technologies Ltd. handles allotment, refunds, and demat credits - contact at 04067162222, 04079611000 or aacl.ipo@kfintech.com.
Adon Agro Commodities Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Kfin Technologies Ltd. IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
Adon Agro Commodities IPO comprises a total issue size of 62,90,000 shares, entirely a fresh issue with no OFS component. Net offer to the public is 59,74,000 shares after excluding 3,16,000 market maker shares.
Adon Agro Commodities Limited IPO proceeds from the fresh issue will be deployed towards:
Adon Agro Commodities BSE SME IPO offers 62,90,000 total shares. Net offer to the public is 59,74,000 shares after excluding 3,16,000 market maker shares. Minimum retail application is 2 lots (4,000 shares) at ₹2,80,000.
The anchor bidding for Adon Agro Commodities Limited BSE SME IPO is scheduled for June 26, 2026, one working day before the issue opens on June 29, 2026. Anchor investors will be allotted shares from the QIB portion as per standard BSE SME IPO structure.
Lock-in: The anchor allocation follows standard SME IPO norms, where 50% of anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date of July 6, 2026 on BSE SME.
Galactico Corporate Services Pvt. Ltd. is the BRLM, KFin Technologies Ltd. is the registrar, and Shreni Shares Ltd. is the market maker.
There has been a rapid increase in the company’s finances, with the total income increasing to ₹220.76 crore in the last recorded period. The Profit After Tax (PAT) for the company stands at ₹16.74 crore. The company came into existence in 2022; therefore, its financial history can be traced for just a short period.
Action Links:
To apply for Adon Agro Commodities Limited IPO, open a demat account here
Adon Agro Commodities Limited IPO Subscription Status: Check live subscription here
Adon Agro Commodities Limited IPO GMP Update: Check latest grey market premium here
Adon Agro Commodities Key Highlights:
Adon Agro Commodities Ltd is engaged in the manufacture of electrical products made from aluminum and copper alloys. Some of the products manufactured by Susan are winding wires and strips (for transformers, electric motors, alternators, coils), aluminum stranded conductors (for overhead power transmission and distribution), and power cables that have two categories, namely, LT cables (PVC/XLPE insulated up to 1.1kV, LT Aerial Bunched Cables), and HT cables (for efficient power distribution).
The strengths of Adon Agro Commodities Limited include integrated agro-commodity business operations encompassing sourcing, imports, processing, packaging and distribution of dry fruits, nuts, seeds and berries; ownership of its retail brand called Hunger Nuts that is used in B2B, wholesale, corporate gifting, modern trade, exports and D2C channels; fast growth of revenues from ₹22.33 crore in fiscal year 2022-23 to ₹72.57 crore in fiscal year 2023-24, ₹103.04 crore in fiscal year 2024-25 and ₹287.16 crore in ten months until 31 January 2026; significant improvement in profitability in terms of profit after tax growing from ₹0.09 crore in fiscal year 2022-23 to ₹1.79 crore in fiscal year 2023-24, ₹7.22 crore in fiscal year 2024-25 and ₹21.55 crore in ten months period; margins growing from 0.40% to 7.50%; and high return on equity and return levels of 84.36% and 60.09% respectively, with a low debt-to-equity ratio of 0.23.
Nevertheless, recently, there has been efficiency in the financial performance of the company, as the total income in the business amounts to ₹22.33 crore for FY2022-23, ₹72.57 crore for FY2023-24, ₹103.04 crore for FY2024-25, and ₹287.16 crore for the ten months ending on 31st January 2026 (with an increase of about 198% from FY2024-25 to ten months). PAT, on the other hand, has increased from ₹0.09 crore for FY2022-23, ₹1.79 crore for FY2023-24, ₹7.22 crore for FY2024-25, to ₹21.55 crore in the ten months (an increase of about 200% from FY2024-25 to ten months) and EBITDA has increased from lower bases to ₹31.28 crore in the ten months period. Margin in relation to EBITDA and PAT is 10.87% in case of EBITDA and 7.50% in the case of PAT (ten months ending 31st January 2026). ROE and ROCE ratios are very high with 84.36% and 60.09%, respectively. Net worth has increased from ₹0.25 crore in FY2022-23, ₹4.96 crore in FY2023-24, ₹12.20 crore in FY2024-25, and ₹36.72 crore in the 10-month period ended 31 January 2026.
Adon Agro Commodities Risk Factors:
The risks of Adon Agro Commodities Limited IPO are mentioned below:
Operating History: Established only in 2022, the organization has an extremely brief operating history with merely three years of experience.
Customer Concentration Risk: The revenue stream of the company is heavily dependent on a few customers without any binding commitment. If any of the major customers get lost then it will be a major blow to the revenue stream.
Import and Currency Risk: Import from countries other than the domestic country (UAE, Afghanistan, Chile, USA, and Sri Lanka) subjects the company to risks of currency fluctuation and import duty change and political risk.
Spoilage and Food Safety Risk: Procurement of dry fruits and agro products subjects the organization to spoilage and food safety risk which may affect the company's reputation.
Working Capital Intensity: Agro commodity trading requires constant investment of money in high value inventories resulting in high pressure on working capital. Use of IPO proceeds for working capital is indicative of this need.
Competitive Intensity: Dry fruits and agro commodities markets are fragmented and very competitive both in terms of organized importers / brands and unorganized local traders.
SME Liquidity Risk: BSE SME Stock: Limited post listing liquidity with low trading volumes and little analyst coverage.
Adon Agro Commodities Expert Analysis:
Adon Agro Commodities BSE SME book-built IPO is priced at ₹66–₹70 per share (face value ₹10), aggregating up to ₹44.03 Cr, entirely a fresh issue with no OFS component.
Basic details of the IPO:
Type of IPO: Book-built SME IPO (BSE SME)
Uses of funds: Incremental working capital requirements and general corporate purposes
Anchor bidding: June 26, 2026 | Opens: June 29, 2026 | Closes: July 1, 2026 | Allotment: July 2, 2026 | Listing: July 6, 2026 (BSE SME)
Lead Manager: Galactico Corporate Services Pvt. Ltd. | Registrar: KFin Technologies Ltd. | Market Maker: Shreni Shares Ltd.
Expert View on the IPO:
Adon Agro Commodities is an excellent performer in terms of revenue generation (₹220.76 Cr in the most recent period) and profitability (₹16.74 Cr), although its operating tenure is fairly short, in a highly lucrative market for dry fruit and agro-commodities. Multi-channel strategy via bulk B2B sales, corporate gifting, modern retailing, and D2C through Hunger Nuts ensures that the company has diversified sources of revenue. Yet its fairly short operational tenure (founded 2022), GMP of ₹0, high customer concentration risk, and reliance on imports are some critical issues for the firm.
Should you invest in Adon Agro Commodities?
Ideal only for high-risk takers who believe that the growth path of the firm is sustainable, and who do not mind investing in a firm that is relatively new, lacks a history, and runs a working capital intensive business with liquidity risk on BSE SME.
Consider investing when:
Comfortable with an aggressively growing agro-commodity trading firm that has grown quickly to revenues of ₹220+ Cr within a short time frame through its diverse multi-channel distribution strategy using the Hunger Nuts brand name.
Open to high-risk exposure in order to be able to benefit from India's emerging dry fruit and premium snacks market.
Do not invest when:
Risk-averse about the company's very short operating history (incorporated 2022), customer concentration, import dependency, and a GMP of ₹0 indicating neutral market sentiment.
Preferring companies with proven multi-year track records, domestic manufacturing, and diversified customer bases.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Adon Agro Commodities Limited IPO, open a demat account here
Adon Agro Commodities Limited IPO Subscription Status: Check live subscription here
Adon Agro Commodities Limited IPO GMP Update: Check latest grey market premium here
1. What is the Adon Agro Commodities Limited IPO open and close date?
Adon Agro Commodities BSE SME IPO opens on June 29, 2026 and closes on July 1, 2026. Allotment is on July 2, refunds and demat credit on July 3, and tentative listing on BSE SME is July 6, 2026.
Track Adon Agro Commodities Limited IPO subscription status live here from Finnpick.
2. What is the Adon Agro Commodities Limited IPO price band and lot size?
The IPO price band is ₹66–₹70 per share (face value ₹10). Minimum retail application is 2 lots (4,000 shares) amounting to ₹2,80,000 at the upper price band.
3. What is Adon Agro Commodities Limited IPO total size?
Adon Agro Commodities IPO is a BSE SME IPO of 62,90,000 equity shares aggregating up to ₹44.03 Cr, entirely a fresh issue with no OFS component. Net public offer is 59,74,000 shares after excluding 3,16,000 market maker shares.
4. How to apply for the Adon Agro Commodities Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by July 1, 4 PM. Monitor Adon Agro Commodities Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Adon Agro Commodities Limited IPO Allotment Status?
The allotment date is on July 02nd and can be checked on KFin Technologies Ltd. RTA portal using PAN/DP ID.
6. What is Adon Agro Commodities Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 as of June 25, indicating listing at the price range of ₹70 - check daily updates of Adon Agro Commodities Limited IPO GMP trends here and live subscription status here from June 29th opening only on Finnpick.
7. What does Adon Agro Commodities Limited specialize in?
Adon Agro Commodities Limited is a Mumbai-based agro-commodity trading company dealing in almonds, cashews, walnuts, raisins, pistachios, dates, apricots, and figs under the "Hunger Nuts" proprietary brand through bulk B2B, wholesale, corporate gifting, modern retail, exports, and D2C channels.
8. When is the Adon Agro Commodities Limited IPO listing date?
The IPO is scheduled to list on BSE SME on July 6, 2026. Allotment on July 2, refunds and demat credits on July 3, 2026.
9. What are the Adon Agro Commodities Limited IPO proceeds utilization details?
The IPO proceeds of ₹44.03 Cr will be utilised for incremental working capital requirements and general corporate purposes.
10. Who are the promoters of Adon Agro Commodities Limited?
The promoters of the Adon Agro Commodities are Mr. Narayanswamy Venkitkrishnan, Mrs. Jigisha Narayanswamy and Mr. Shubham Ratan Sharma.
11. Should I apply for the Adon Agro Commodities IPO?
It is only suitable for high-risk investors comfortable with a very young company (incorporated 2022) that has grown rapidly in the dry fruit and agro-commodity trading segment. Current GMP of ₹0 suggests neutral market sentiment. Avoid risk-averse about limited track record, customer concentration, import dependency, and BSE SME liquidity constraints. Read the RHP and consult a SEBI-registered advisor before investing.
