Adon Agro sets ₹66-70 band for ₹44 cr BSE SME IPO; Hunger Nuts maker eyes June 29 open
Mumbai-based dry fruits processor Adon Agro Commodities, which sells D2C under the Hunger Nuts brand, has fixed a ₹66-70 price band for its ₹44.03 crore BSE SME IPO opening June 29, 2026. Revenue scaled from ₹22.33 cr in FY23 to ₹103.03 cr in FY25, with ₹287.16 cr already booked in 10M to Jan 2026. Proceeds fund working capital.
What happened
Adon Agro Commodities, a Mumbai-based dry fruits and nuts processor selling under its Hunger Nuts D2C brand, sets ₹66-70 price band for its ₹44 crore BSE SME
Key facts
- Price band ₹66-₹70
- Issue size ₹44.03 cr
- 62.90 lakh shares
- Lot 2000 shares
- Min ₹1.40 lakh
- Revenue ₹103.03 cr FY25 vs ₹22.33 cr FY23
- 10M Jan26 revenue ₹287.16 cr
- QIB 1.07%, NII 49.3%, Retail 49.55%
Why this matters
Hunger Nuts' D2C scale and fresh capital make Adon Agro a watch-list target for larger F&B platforms seeking premium dry-fruit shelf space and direct consumer reach.
What to watch
- Subscription numbers Day 1 close (especially NII and retail)
- Grey market premium trajectory
- FY26 full-year audited numbers post-listing
- Promoter holding lock-in expiry calendar
- Any related-party transaction disclosures in RHP
- BSE SME index momentum in the listing week
- Pull RHP to verify FY26 10M revenue auditor status and customer concentration
- Map Hunger Nuts D2C share vs B2B commodity trading split in revenue mix
- Benchmark vs listed SME peers like Maxposure, Rishabh Instruments on EV/sales
- Track GMP daily from June 25 through allotment
- Check working capital cycle days vs peers — receivables/inventory red flags