Peshwa Wheat to raise ₹53.52 crore through IPO; funds to go towards expansion

Peshwa Wheat is set to raise up to ₹53.52 crore through an initial public offering, with the company planning to deploy the funds towards expanding its manufacturing capabilities and meeting working capital requirements.

The IPO will open on September 24 and close on September 28, with shares offered in a price band of ₹95–101 apiece. The company is proposing to list on the BSE SME platform. The issue comprises 52.99 lakh shares.

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A significant portion of the money raised is earmarked for the business itself. Peshwa Wheat plans to spend ₹26.50 crore on working capital, ₹6.69 crore on plant and machinery and another ₹5.01 crore on civil construction. The remaining funds will be used for general corporate purposes.

The IPO comes as the company looks to scale its wheat-processing operations. Peshwa Wheat operates an integrated flour-processing facility in Indore, Madhya Pradesh, with an installed capacity of 56,100 tonnes per annum. Its product portfolio includes atta, Sortex wheat, broken wheat, besan and maize flour, with customers spread across Madhya Pradesh, Maharashtra, Karnataka and Gujarat.

The company has also reported growth in its financial performance. In FY26, total income stood at ₹215.96 crore, compared with ₹171.55 crore in FY25. Profit after tax rose to ₹15.81 crore from ₹11.84 crore, while EBITDA increased to ₹22.73 crore from ₹18.05 crore.

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The issue has also attracted attention in the unofficial market, with offline market participants in Ahmedabad, Rajkot and Surat indicating a grey-market premium of around ₹58–60 per share. However, grey-market indications are unofficial and can change before listing.

The IPO’s retail lot size is 1,200 shares, while the issue price is capped at ₹101 per share.