Peshwa Wheat IPO 2026: SME Issue Details, Dates and Financials
· 8 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
Peshwa Wheat Limited has launched its BSE SME IPO with a price band of ₹95 to ₹101 per share. Here is a detailed look at the company's business model, financials, and issue structure.
Direct answer: The Peshwa Wheat IPO is an SME book-built issue open from 24 Sep 2026 to 28 Sep 2026, with a price band of ₹95 to ₹101 per share. For live updates on this and other public listings, consult Peshwa Wheat on BuyUnlistedShares, provided by BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002.
About Peshwa Wheat Limited and Its Business Model
Originally formed as a registered partnership firm in September 2017 and later converted into a public limited company in December 2023, Peshwa Wheat Limited processes wheat-based products. Its core product portfolio includes Atta (wheat flour), Sortex Wheat, Broken Wheat, and other flour products such as Gram Flour (Besan) and Maize Flour. The company primarily packages and supplies its products in 50 kg and 30 kg bags.
Peshwa Wheat operates a modern, fully integrated flour processing unit in Indore, Madhya Pradesh, which has an installed capacity of 56,100 MTPA. The processing unit utilizes advanced cleaning and milling technology to maintain high hygienic standards. During processing, by-products such as wheat bran are recovered and sold for cattle feed, allowing the facility to operate with zero waste and zero discharge. As of 31 Mar 2026, the company's capacity utilization stood at 90.10%, up from 74.58% as of 31 Mar 2025 and 58.73% as of 31 Mar 2024.
The company operates primarily in the B2B segment, selling its products across Madhya Pradesh, Maharashtra, Karnataka, and Gujarat. Distribution is handled through a network of Super Stockists who supply wholesalers and retailers, as well as via direct bulk sales to restaurants, bakeries, and large buyers. Additionally, Peshwa Wheat engages in the trading of vegetables, specifically potatoes and tomatoes, within Madhya Pradesh.
Peshwa Wheat IPO Issue Terms and Key Dates
The Peshwa Wheat IPO is a book-built issue structured entirely as a fresh issue of shares. The key details of the offering are outlined below:
| Item | Value | As of |
|---|---|---|
| Price band | ₹95 – ₹101 | 27 Sep 2026 |
| Lot size | 1200 shares | 27 Sep 2026 |
| Issue size | ₹53.52 Cr | 27 Sep 2026 |
| Fresh issue | ₹50.54 Cr | 27 Sep 2026 |
| Exchange | BSE SME | 27 Sep 2026 |
| Issue type | SME | 27 Sep 2026 |
| Face value | ₹10 | 27 Sep 2026 |
| Opens | 24 Sep 2026 | 27 Sep 2026 |
| Closes | 28 Sep 2026 | 27 Sep 2026 |
| Allotment | 29 Sep 2026 | 27 Sep 2026 |
| Listing | 1 Oct 2026 | 27 Sep 2026 |
| Registrar | Maashitla Securities Pvt.Ltd. | 27 Sep 2026 |
The minimum order quantity for retail investors is set at 2,400 shares (requiring a minimum application amount of ₹2,42,400 at the upper price band). The table below details the share allocation across different investor categories:
| Category | Shares Reserved | Allocation Terms |
|---|---|---|
| QIB | 49,200 | Not more than 50% of the Net Offer |
| NII (HNI) | 2,451,600 | Not less than 15% of the Net Offer |
| Retail | 2,503,200 | Not less than 35% of the Net Offer |
| Market Maker | 295,200 | - |
| Total Shares | 5,004,000 | 100.0% |
According to the offer documents, the allotment of shares is scheduled to be finalized on 29 Sep 2026. Refunds will be initiated on 30 Sep 2026, and the credit of shares to demat accounts will also take place on 30 Sep 2026. The shares are expected to list on the BSE SME platform on 01 Oct 2026.
Subscription Status and Unofficial GMP
As of 25 Sep 2026, the Peshwa Wheat IPO has received steady interest from institutional and retail investors. The overall subscription reached 2.03x, driven primarily by qualified institutional buyers.
Per the subscription data captured up to 25 Sep 2026, the overall subscription reached a high of 2.03x, driven primarily by strong QIB interest at 177.12x, while the retail portion stood at 0.49x and the NII portion stood at 0.13x.
As of 27 Sep 2026, no grey market premium (GMP) is recorded for this issue in our database, making any unofficial and indicative premium figures unavailable at this time. For investors tracking the broader primary market, keeping an eye on the IPO calendar is a useful way to monitor upcoming listings, while our Unlisted shares screener helps track pre-IPO opportunities. At BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002, we track these developments closely to keep market participants informed.
Financial Performance and Objects of the Issue
Peshwa Wheat has demonstrated significant revenue and profitability growth over the last three financial years. Total income increased from ₹43.81 Cr in FY24 to ₹215.96 Cr in FY26. Profit After Tax (PAT) also grew from ₹5.21 Cr in FY24 to ₹15.81 Cr in FY26.
The financial trend shows consistent growth from 31 Mar 2024 to 31 Mar 2026, with total income rising from ₹43.81 Cr to a high of ₹215.96 Cr and PAT increasing from ₹5.21 Cr to ₹15.81 Cr.
The company intends to utilize the net proceeds of the IPO for the following objects:
- Funding capital expenditure towards the purchase of plant and machinery: ₹6.69 Cr
- Funding capital expenditure towards civil construction: ₹5.01 Cr
- Funding working capital requirements: ₹26.50 Cr
- General corporate purposes (not to exceed 15% of the gross proceeds or ₹10.00 Cr)
While evaluating agricultural processing businesses, investors often compare them with other sectors currently raising capital, such as the upcoming German Green Steel IPO: Dates, Price Band, Lot Size, Issue Size and Company Details or tech-enabled financial platforms like the Moneyview IPO: Dates, Price Band and Key Details. Below is a comparison of Peshwa Wheat with its listed industry peers as of 31 Mar 2026:
| Company Name | EPS (Basic) (₹) | NAV (₹ per share) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Peshwa Wheat Ltd. | 11.51 | 31.37 | 12.15 (Post-IPO) | 36.71% |
| Baba Foods Processing India Ltd. | 1.89 | 40.64 | 13.10 | 4.63% |
| Megastar Foods Ltd. | 8.11 | 90.42 | 40.93 | 8.97% |
Strengths and Key Risk Factors
Before considering an investment in any SME IPO, it is essential to evaluate both the operational strengths and the potential risks outlined by the issuer in the Red Herring Prospectus (RHP).
Key Strengths
- Experienced Management: Promoted by Rahat Ali Saiyed, Sadaf Saiyed, Shehnaj, Mo. Jed, and Riyazuddin Qureshi, who possess over 7 years of experience in the agricultural and food processing industry.
- Integrated Processing Model: The company's operations are integrated from raw material procurement to processing, packaging, storage, and distribution, reducing dependency on external intermediaries.
- Established Procurement Networks: Long-standing procurement relationships in Madhya Pradesh support consistent raw material access at competitive prices.
- Quality Standards: The company holds State and Central FSSAI licenses and is certified under ISO 22000:2018 for food safety management.
Key Risk Factors
- Geographical Concentration of Raw Materials: Peshwa Wheat procures 100% of its raw materials (wheat, chana dal, maize kernel) from a single state, Madhya Pradesh, exposing it to localized agricultural and regulatory risks.
- Storage and Spoilage Risks: Agricultural commodities require controlled storage conditions. Any inadequacy in storage facilities could lead to spoilage, infestation, or quality deterioration.
- Customer Concentration: The company relies heavily on a limited number of customers. In FY26, the top customer accounted for 18.89% of revenue from operations, while the top five customers contributed 64.14%.
- Leased Premises: The company's registered office, processing unit, and warehouses are operated on a lease basis rather than being self-owned.
- Unregistered Intellectual Property: The company is currently using a brand logo that is not yet registered in its name.
To explore unlisted opportunities or to get more information on upcoming public offerings, contact the desk at BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002.
Frequently Asked Questions
Question?
What is the price band and lot size for the Peshwa Wheat IPO?
Question?
The price band is set between ₹95 and ₹101 per share. The minimum lot size is 1,200 shares, but the minimum order quantity for retail investors is 2,400 shares (2 lots), amounting to ₹2,42,400 at the upper price band.
Question?
When does the Peshwa Wheat IPO open and close?
Question?
The issue opens for subscription on 24 Sep 2026 and closes on 28 Sep 2026.
Question?
Where is Peshwa Wheat Limited's processing unit located?
Question?
The company operates a fully integrated flour processing unit at Indore, Madhya Pradesh, with an installed capacity of 56,100 MTPA.
Question?
What are the main objects of the Peshwa Wheat IPO?
Question?
The proceeds from the fresh issue will be used to fund capital expenditure for plant and machinery (₹6.69 Cr), civil construction (₹5.01 Cr), working capital requirements (₹26.50 Cr), and general corporate purposes.
Question?
Is the Peshwa Wheat IPO suitable for my investment portfolio?
Question?
We do not make that call. Investment suitability depends on your personal financial goals, risk tolerance, and investment horizon. Investors should carefully review the risk factors in the Red Herring Prospectus and consult a registered financial advisor before making any investment decisions.
Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
