SSMD Agrotech India IPO: Price, GMP, Analysis, And Details

SSMD Agrotech India IPO- Company Analysis 

SSMD Agrotech India IPO under the SME IPO category is a book build issue of Rs. 33.80 Cr by SSMD Agrotech India Ltd. (formerly SSMD Agrotech India Private Limited), which is an agro-food company in the fast-moving consumer goods (FMCG) sector operating in a very competitive and fragmented industry. The Company deals in agro-food products through various entities (SS Agro India, Manohar Lal Jaigopal Agro Industries, and SSMD Agrotech India Limited) which are now part of the consolidated structure as analysed in the restated financials.

The Company maintains strong packaging, supply-chain reliability, and consistent raw material traceability to guarantee safety and compliance. Agrotech has built a strong distribution network and has a self-owned logistics fleet. The company has improved digital presence through a website and active social media.

SSMD Agrotech India IPO Details

The SSMD Agrotech India IPO date of opening is 24 November 2025, its initial public offering will end on 26 Nov, IPO allotment on Nov 27 and refund initiation on Nov 28, 2025.

The Rs. 33.80 crore new SME IPO comprises a wholly fresh issue of 0.28 crore shares.

The SSMD Agrotech India IPO listing date (expected) might be on Monday, Dec 01, 2025, and listing at the BSE and SME. 

The SSMD Agrotech India IPO price band is Rs. 114 to Rs. 120.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Nov 24, 2025
IPO Closing Date	Nov 26, 2025
IPO Allotment Date	Nov 27, 2025
Refund Initiation	Nov 28, 2025
IPO Listing Date	Dec 01, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024
Assets	32.33	18.16	15.60
Total Income	52.13	99.18	73.45
Profit After Tax	3.84	5.38	1.10
EBITDA	5.79	8.47	3.23
Net Worth	10.76	6.92	1.33
Reserves and Surplus	4.91	6.39	0.02
Total Borrowing	6.88	6.07	7.02

 

Cash Flows

(Amount in lac)

Net Cash Flow	30 Sep 2025	31 Mar 2025	31 Mar 2024
Net Cash Flow Operating Activities	(78.16)	245.79	4.92
Net Cash Flow Investing Activities	(35.42)	82.36	-
Net Cash Flow Financing Activities	42.84	(74.55)	1.50

Revenue Bifurcation

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Working capital financing. ~ Rs. 13.10 Cr.

• Repayment of a portion of the loans that our company has taken out. ~ Rs. 6.83 Cr.

• The company will incur three capital expenditures to establish new D2C dark store factories. ~ Rs. 2.04 Cr.

• The company will incur a capital expenditure to purchase machinery for the establishment of the Namkeen Plant. ~ Rs. 0.97 Cr.

• General corporate purposes. 

 

Listed Peers of SSMD Agrotech India Ltd.

Company Name	Face Value (Rs. )	EPS (Rs. )	P/E Ratio (x)
HOAC Foods India Limited	10	6.69	44.24
Contil India Limited	2	1.63	19.14
Jetmall Spices and India Limited	10	(1.24)	(32.17)

 

KPI	Values
ROE	130.46%
ROCE	100.85%
Debt / Equity	0.88
RoNW	78%
PAT Margin	5.42%
EBITDA Margin	8.54%
Price to Book Value	9.57

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 107.19 from the last year, the resulting P/E ratio is 1.11x.

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IPO's Strengths 

• High revenue growth over the course of FY 23 to 25.

• Strong brand positioning validated by recognition and awards.

• Logistic and supply chain efficiency allow premium packaging automated systems.

• Enhanced online presence fosters market expansion.

• Consistent product quality is improved through traceability and quality control.

 

IPO’s Weaknesses

• There is a high degree of fragmentation leading to a highly competitive and fragmented FMCG sector.

• The margins are thin as a result of market scale, competitive pricing, and the nature of the product.

• Raw materials are often subject to volatility.

• The risk of relegating to small patches of the market is high because of the limited number of product categories that the business is dependent on.

SSMD Agrotech India IPO GMP (Grey Market Premium)

SSMD Agrotech India IPO GMP today has not started yet as of 21 Nov 2025 at the time of writing this information.

SSMD Agrotech India IPO Summary

The SSMD Agrotech India IPO has a market maker portion size of 156000 Shares (Rs. 1.87 Cr).

IPO Opening & Closing Date	24 Nov, 2025 to 26 Nov, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 114 to Rs. 120 per Share.
Lot Size	1000 Shares
Issue Size	28,17,000 Shares (Rs. 33.80 Cr)
Offer for Sale	-
Fresh Issue	28,17,000 Shares (Rs. 33.80 Cr)
Listing at	BSE, SME
Issue Type	Book build issue IPO
Registrar	Bigshare Services Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (2000 Shares) for Rs. 2,40,000 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (3000 Shares) for Rs. 3,60,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

SSMD Agrotech India IPO Allotment Status

To check the SSMD Agrotech India IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of SSMD Agrotech India Ltd.

• Mr. Ishu Munjal.

• Mrs. Surbhi Munjal.

• Mr. Jai Gopal Munjal.

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• 3Dimension Capital Services Ltd. 

 

Dividend Policy

The company has not declared a dividend during the last three financial years.

 

 Conclusion

SSMD Agrotech India IPO is from the company that is the fastest growing and profitable in the agro-FMCG segment. The company is emerging as one of the players in the segment with strong revenue growth, growing brand equity, and increasing operational scale. Though the sector is highly fragmented, with strong competition from both small and large FMCG players, the company is still exposed to a few structural risks.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.