A Premium Dry Fruits Brand Goes Public
Reviewed by Kanishk Dev Bangia, NISM Series XV Certified Research Analyst
Last Updated: May 2026 | Reg. No: NISM-202300182946
This Delhi-based firm operating in the area of sale and production of premium quality dry fruits such as cashew nuts, almonds, makhana, and gift boxes is going to launch its IPO under the NSE SME segment. This IPO will go live in May 2026, giving us an uncommon opportunity to study how a rapidly expanding food product leverages the public capital market in India.
Whether you have been trading stocks before or are making your maiden research on IPOs, this blog will offer you all the relevant information you require to comprehend this specific situation.
1. What Is an SME IPO? (Beginners, Start Here)
IPO refers to an Initial Public Offering. It is a procedure where a privately-held firm sells its securities for the first time in history to make it possible for individuals to become co-owners of the business.
The SME IPO is a miniature version of the normal IPO and is specially designed for small and medium enterprises. The IPOs of such companies trade in SME platforms like NSE Emerge and not in the main board markets. Generally, they have:
• A smaller size of offering (generally below ₹100 crores)
• A minimum investment requirement that is relatively lower than the other types of IPOs – although lot sizes are higher
• An objective of assisting developing businesses to access public capital for growth purposes or for debt servicing and working capital
The IPO process follows similar procedures as the ones used in other IPOs. For instance, there is a determination of the price band, subscriptions are made through the subscription window, and finally, allotments are made followed by listing of the security.
2. About the Company (Without the Name)
Founded in 2019, the enterprise deals in the production and marketing of high-quality dry fruits. The leading brand of this organization is the cashew nut produced in Africa; however, besides this product, the company also offers almonds, makhana (or fox nuts), and gift packs for the consumers.
The company makes use of modern techniques such as roasting and packaging to ensure product quality and freshness. The packages in which products are supplied are not only hygienic but also portable and resealable. The products can be accessed via offline sources as well as e-commerce platforms.
As far as geography is concerned, the company operates from the city of Delhi and has been generating consistent revenue for the past three years.
3. IPO — Key Details
4. Complete IPO Timeline
Understanding the timeline is crucial — missing any key date means you may miss the opportunity to apply, or not receive your refund on time. Here is the full schedule:
5. Lot Size & How Much You Need to Invest
In an SME IPO, you cannot apply for a single share. Shares are grouped into 'lots', and you must apply for at least one full lot. Here is what the investment looks like across different investor categories:
Note: Retail investors can apply for a maximum of 2 lots in this issue. The minimum investment for a retail applicant is ₹2,20,000, which is higher than many mainboard IPOs — a typical characteristic of SME issues.
6. Investor Category Quota — Who Gets What?
Every IPO divides its shares among different types of investors. Understanding these categories helps you know which bucket you fall into when applying:
7. Financial Performance — How Has the Business Grown?
One of the most important things to study before forming any view on an IPO is the company's financial track record. Here is how this company has performed over the past few years:
The numbers show a business that has been scaling consistently. Revenue more than doubled from FY2023 to FY2025, and net profit grew from ₹0.41 crore to ₹2.67 crores — a meaningful increase. The interim data up to November 2025 suggests this trajectory has continued.
8. Key Financial Ratios Explained (FY 2025)
These numbers give investors a deeper look at how efficiently the business operates. Here is what each metric means — in plain language:
9. Where Will the IPO Money Go?
Understanding how a company plans to use the funds raised through an IPO is an important part of reading a prospectus. Here is the planned utilisation of proceeds from this issue:
Working Capital: Day-to-day operational expenses like procuring raw cashews, packaging materials, and logistics costs.
Debt Repayment: The company will use a portion to reduce existing loan obligations, which can improve its financial health over time.
10. How to Apply for an SME IPO — Step by Step
If you have a Demat and trading account, here is the standard process for applying to any SME IPO in India:
• Step 1: Log in to your broker's app or trading platform.
• Step 2: Go to the IPO section and find the IPO you want to apply for
• Step 3: Enter the number of lots you wish to apply for — you must apply for at least the minimum lot
• Step 4: Provide your UPI ID for payment block via ASBA (Application Supported by Blocked Amount)
• Step 5: Approve the UPI mandate on your banking app — your funds are blocked, not debited, until allotment
• Step 6: Wait for the allotment date — you will receive shares in your Demat or a refund if not allotted
Disclaimer:
This is written for educational and informational purposes only. Nothing here constitutes investment advice or a recommendation to buy or sell securities. All data is sourced from publicly available information. Investments in securities markets are subject to market risks — please read all offer documents carefully before investing.
