The Indian IPO market continues to attract investor attention in 2025, with companies from niche sectors raising capital to expand operations. Among them, Solvex Edibles Limited, a manufacturer of Solvent Extracted Rice Bran Oil and related by-products, is set to open its IPO on September 22, 2025, offering investors an opportunity to participate in a growing FMCG-linked edible oil business.
About Solvex Edibles Ltd.
Incorporated in 2013, Solvex Edibles Limited is engaged in the manufacturing, distribution, marketing, and sale of edible oils and by-products such as De-oiled Mustard/Rapeseed Cakes (DOC), De-oiled Rice Bran (DORB), Crude Rice Bran Oil, Mustard Cakes, and Deoiled Mustard Cakes.
The company supplies these products to various FMCG companies across 18 states in India. Solvex Edibles operates a 12,140 sq. meter manufacturing facility in Kemri, Bilaspur, Uttar Pradesh, with a processing capacity of 200 TPD, including an integrated extraction division for Rice Bran Oil.
Competitive Strengths:
- Extensive product portfolio catering to cattle, poultry, and fish feed industries
- Strategic location of manufacturing facilities with easy access to raw materials
- Experienced promoters and senior management team with operational expertise
As of September 16, 2025, the company employs 40 people.
Solvex Edibles IPO Details
The Solvex Edibles IPO is a fixed price issue of ₹18.87 crore, entirely a fresh issue of 0.26 crore shares. The IPO will list on BSE SME.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 22, 2025 |
| IPO Close Date | Sep 24, 2025 |
| Tentative Allotment | Sep 25, 2025 |
| Initiation of Refunds | Sep 26, 2025 |
| Credit of Shares to Demat | Sep 26, 2025 |
| Tentative Listing Date | Sep 29, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 24, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price | ₹72 per share |
| Lot Size | 1,600 shares |
| Total Issue Size | 26,20,800 shares (₹18.87 Cr) |
| Sale Type | Fresh Capital |
| Reserved for Market Maker | 1,31,200 shares (₹0.9446 Cr) |
| Net Offered to Public | 24,89,600 shares (₹17.93 Cr) |
| Listing At | BSE SME |
| Shareholding Pre-Issue | 63,31,170 shares |
| Shareholding Post-Issue | 89,51,970 shares |
Investor Category Reservation:
| Investor Category | Shares Offered |
| Market Maker | 1,31,200 (5.01%) |
| NII (HNI) | 12,44,800 (47.50%) |
| Retail | 12,44,800 (47.50%) |
| Total | 26,20,800 (100%) |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,30,400 |
| Retail (Max) | 2 | 3,200 | ₹2,30,400 |
| HNI (Min) | 3 | 4,800 | ₹3,45,600 |
Promoter Holding:
The promoters are Mr. Ashish Goel, Mr. Vishal Goel, Mrs. Rashika Gupta, and Mr. Brij Bhushan Goel.
- Pre-IPO: 100.00%
- Post-IPO: 70.72%
Book Running Lead Manager: Corporate Makers Capital Ltd.
Registrar: Maashitla Securities Pvt. Ltd.
Market Maker: JSK Securities & Services Pvt. Ltd.
Solvex Edibles Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 92.05 | 89.36 |
| Total Income | 136.46 | 71.94 |
| Profit After Tax | 4.09 | 1.01 |
| EBITDA | 11.19 | 3.02 |
| Net Worth | 20.17 | 14.36 |
| Reserves & Surplus | 13.84 | 10.94 |
| Total Borrowing | 57.94 | 55.66 |
Key Performance Indicators (KPI):
| KPI | Value |
| Market Capitalisation | ₹64.45 Cr |
| ROE | 23.69% |
| ROCE | 24.51% |
| RoNW | 20.28% |
| PAT Margin | 3.02% |
| EBITDA Margin | 8.26% |
| Price to Book Value | 2.56 |
EPS & P/E:
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 6.46 | 4.57 |
| P/E (x) | 11.15 | 15.76 |
Objects of the Issue
| S.No | Objects of the Issue | Expected Amount (₹ Cr) |
| 1 | Capital expenditure for new plant and machinery | 8.31 |
| 2 | Repayment of outstanding borrowings | 5.90 |
| 3 | General corporate purposes | 2.79 |
Industry Outlook
The edible oils market in India is witnessing steady growth due to:
- Rising demand for rice bran and mustard oil-based products
- Increasing consumption across households and FMCG channels
- Growing animal feed industry creating demand for de-oiled cakes
- Strategic geographic positioning of Solvex Edibles enabling efficient distribution across 18 states
Solvex Edibles’ integrated manufacturing and diversified product portfolio position it well to capture market share in both edible oil and by-products sectors.
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Conclusion
Solvex Edibles Ltd. offers investors a chance to participate in a specialized segment of the FMCG-linked edible oil and by-products industry. With consistent growth in revenue and profitability, strategic manufacturing capabilities, and experienced promoters, the company presents a compelling investment opportunity. Investors, however, should consider risks such as volatility in raw material prices, dependency on select FMCG clients, and regulatory changes in the food and edible oils sector.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
