In 2025, India’s IPO market continues to offer opportunities in niche sectors, including agro-processing. Rukmani Devi Garg Agro Impex Limited is set to open its IPO on September 26, 2025, giving investors a chance to participate in the growth of a company specializing in the import, export, and processing of agricultural products.
About Rukmani Devi Garg Agro Impex Ltd.
Incorporated in 1998, Rukmani Devi Garg Agro Impex Limited is engaged in the agro-processing industry, focusing on procurement, processing, and trading of agricultural commodities. The company primarily handles wheat, mustard, coriander, maize, flax seeds, and soybeans, sourced from over 500 agents in Rajasthan and Madhya Pradesh.
The company owns 3 warehouses with a combined capacity of 20,000 MT and leases 2 additional warehouses (20,000 MT) for storage. Its processing facility in RIICO spans 2,290 sq. mtr, with a storage capacity of 3,500 MT. Rukmani Devi Garg Agro Impex sells products under brands like “Sharbati,” “Happyfamily,” and “Taj Mahal”, serving 118 distributors nationwide.
Competitive Strengths:
- Long-standing relationships with diverse clients
- Large-scale procurement and storage infrastructure
- Strategically located, fully automated processing and aggregation units
- Focus on quality and operational efficiency
- Experienced promoter and professional management team
Rukmani Devi Garg Agro Impex IPO Details
Rukhmani Devi Garg IPO is a book building issue of ₹23.52 crore, entirely a fresh issue of 0.24 crore shares. It will be listed on BSE SME.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 26, 2025 |
| IPO Close Date | Sep 30, 2025 |
| Tentative Allotment | Oct 1, 2025 |
| Initiation of Refunds | Oct 3, 2025 |
| Credit of Shares to Demat | Oct 3, 2025 |
| Tentative Listing Date | Oct 6, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 30, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹93 – ₹99 per share |
| Lot Size | 1,200 shares |
| Total Issue Size | 23.76 lakh shares (₹23.52 Cr) |
| Reserved for Market Maker | 1.2 lakh shares (₹1.19 Cr) |
| Net Offered to Public | 22.56 lakh shares (₹22.33 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Shareholding Pre-Issue | 65,00,000 shares |
| Shareholding Post-Issue | 88,76,000 shares |
Investor Category Reservation:
- QIB: Not more than 50% of net issue
- Retail: Not less than 35% of net issue
- NII: Not less than 15% of net issue
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,400 | ₹2,37,600 |
| Retail (Max) | 2 | 2,400 | ₹2,37,600 |
| S-HNI (Min) | 3 | 3,600 | ₹3,56,400 |
| S-HNI (Max) | 8 | 9,600 | ₹9,50,400 |
| B-HNI (Min) | 9 | 10,800 | ₹10,69,200 |
Promoter Holding:
The promoters include Mr. Vishal Garg, Mrs. Anju Garg, and RDG Capital Private Limited.
- Pre-IPO: 100%
- Post-IPO: 73.22%
Book Running Lead Manager: Fedex Securities Pvt. Ltd.
Registrar: Bigshare Services Pvt. Ltd.
Market Maker: Sunflower Broking Pvt. Ltd.
Rukmani Devi Garg Agro Impex Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 110.81 | 55.60 | 45.69 |
| Total Income | 327.32 | 245.02 | 248.50 |
| Profit After Tax | 7.57 | 5.02 | 0.47 |
| EBITDA | 12.64 | 8.17 | 3.08 |
| Net Worth | 32.43 | 24.86 | 19.84 |
| Reserves & Surplus | 25.93 | 18.36 | 13.34 |
| Total Borrowing | 49.21 | 26.84 | 25.13 |
Key Performance Indicators (FY2025):
| KPI | Value |
| Market Capitalisation | ₹87.87 Cr |
| ROE | 23.35% |
| ROCE | 15.61% |
| Debt/Equity | 1.52 |
| RoNW | 23.35% |
| PAT Margin | 2.32% |
| EBITDA Margin | 3.87% |
| Price to Book Value | 1.98 |
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P/E & EPS
| Metric | Pre-IPO | Post-IPO |
| EPS (₹) | 11.65 | 8.53 |
| P/E (x) | 8.5 | 11.61 |
Rukmani Devi Garg Agro Impex IPO Objectives
The IPO proceeds are proposed to be utilised as follows:
| Object | Amount (₹ Millions) |
| Working Capital Requirements | 165 |
| General Corporate Purposes | Balance |
Industry Outlook
The Indian agro-processing sector is growing, driven by:
- Rising domestic demand for processed and packaged food products
- Expansion of B2B and B2C distribution networks
- Increased export opportunities for high-quality Indian agricultural commodities
- Innovation in processing, storage, and quality control
Rukmani Devi Garg Agro Impex’s integrated storage, processing capabilities, and established client base position it well to leverage these growth opportunities.
Rukmani Devi Garg Agro Impex IPO: Peer Comparison
Investors considering the Rukmani Devi Garg Agro Impex IPO may also look at similar companies in the agro-processing and food sectors to gauge relative performance and market positioning. Key peers include NHC Foods Ltd, known for its diversified food processing portfolio, and Neelkanth Ltd, which has a strong presence in agricultural commodities and related products. Comparing financials, growth metrics, and market capitalization of Rukmani Devi Garg Agro Impex with these peers can help investors make informed decisions regarding potential returns and risk.
Conclusion
Rukmani Devi Garg Agro Impex Ltd. offers a promising investment opportunity in the agro-processing sector, with a strong domestic and international footprint. The company demonstrates consistent revenue growth and profitability, backed by a robust distribution network and experienced management. Investors should, however, consider risks like fluctuations in commodity prices, regulatory changes, and reliance on a limited number of key suppliers.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
