Hunger Nuts parent Adon Agro launches ₹44 cr SME IPO at ₹66-70 band
Adon Agro Commodities, the dry fruits company behind the Hunger Nuts brand, opens a ₹44.03 crore SME IPO on BSE SME from June 29-July 1, 2026. Revenue scaled from ₹22.3 cr in FY23 to ₹287 cr in 10M FY26, with 7.5% net margin. Proceeds fund working capital. Retail minimum ticket: ₹1.40 lakh.
What happened
Hunger Nuts parent Adon Agro Commodities launches ₹44.03 crore SME IPO on BSE SME platform June 29-July 1, 2026 at ₹66-70 price band. Dry fruits company shows
Key facts
- ₹44.03 crore issue size
- 62.90 lakh fresh equity shares
- price band ₹66-₹70
- lot size 2,000 shares
- retail minimum ₹1.40 lakh
- QIB 1.07%, NII 49.3%, retail 49.55%
- FY23 revenue ₹2,233.48 lakh
- FY25 revenue ₹10,303.55 lakh
- 10M FY26 revenue ₹28,716.20 lakh
- 10M FY26 net profit ₹2,155.07 lakh
- net margin 7.50%
Why this matters
A branded dry fruits play (Hunger Nuts) listing on SME at ~₹44 cr signals an emerging consolidation window in the fragmented Indian nuts/snacks segment worth tracking for partnership or rollup angles.
What to watch
- Subscription multiple by Day 3 close (>15x = strong pop setup)
- GMP trajectory in last 48 hours pre-listing
- Anchor investor list - presence of marquee SME-focused funds
- First post-listing quarterly: gross margin trend and inventory days
- Almond/cashew commodity price moves through Q2 FY27
- Pull RHP to decode revenue mix: branded Hunger Nuts vs bulk commodity trading
- Benchmark working-capital days vs listed dry-fruit peers
- Map anchor book quality on June 28 for institutional conviction signal
- Track Hunger Nuts shelf presence on Blinkit/Zepto/modern trade as demand proxy