Adon Agro Commodities Ltd IPO
Trading
Price Band
₹66 – ₹70
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹280000
Issue Size
₹44.03Cr
Opens
2026-06-29
Closes
2026-07-01
Listing
06-07-2026
Subscription Status
Qualified Institutional Buyers
22.47 x
Non-Institutional Investor
1.37 x
Retail Individual Investor
0.83 x
Total
1.33 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1SME01017
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Adon Agro Limited operates in the agro-commodity trading industry and is engaged in sourcing, importing, distributing, and retailing dry fruits. The company deals in products such as almonds, walnuts, apricots, cashews, pistachios, and other dry fruits through its wholesale business and retail brand, Hunger Nuts. It procures products from domestic and international suppliers across Asia, the Middle East, and North Africa and supplies them to customers in both B2B and B2C segments. The company follows a container-to-container inventory model, wherein it purchases and sells dry fruits in full container quantities. Adon Agro has its registered and corporate offices in Navi Mumbai, Maharashtra, a branch office in Jaipur, Rajasthan, and operates a processing, packaging, and warehouse facility in Navi Mumbai.
Pros
- • The company claims to have established a global sourcing network with suppliers across Asia, the Middle East, Chile, California, and Australia. This sourcing network helps it procure a variety of dry fruits from multiple geographies and reduces dependence on a single sourcing region.
- • The company operates across both wholesale and retail segments of the dry fruits market. While it was initially engaged in wholesale trading, it has recently expanded into the retail segment through its Hunger Nuts brand, offering roasted almonds, cashews, pistachios, and other products.
- • Adon Agro follows a container-to-container inventory model, wherein it purchases and sells products in full container quantities. This business model may help streamline inventory handling and logistics operations.
Cons
- • The company is heavily dependent on trading activities for its revenue. Revenue from trading of dry fruits contributed Rs 103.03 crore, Rs 72.57 crore, and Rs 22.33 crore in FY25, FY24, and FY23, respectively. Any disruption in product sourcing, supplier relationships, or supply chain operations can negatively impact the company's business and financial performance.
- • The company generated more than 90% of its revenue during the last three financial years from Maharashtra, Madhya Pradesh, and New Delhi. Any adverse political, economic, regulatory, or social developments in these regions can negatively impact the company's business, financial condition, and growth prospects.
- • As of March 31, 2025, the company had trade receivables amounting to Rs 25.52 crore, compared to Rs 9.17 crore in FY24 and Rs 0.80 crore in FY23. Any failure to collect these receivables on time or at all could negatively impact the business and its financial condition.
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