Green Asia Impex
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 1.95×
- Big non-institutionalbNII · above ₹10 lakh
- 0.88×
- Small non-institutionalsNII · ₹2–10 lakh
- 0.44×
- Retail individualRII · up to ₹2 lakh
- 0.49×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 15 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 07 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 06 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 05 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 04 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 03 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 02 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 01 Oct 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 30 Sep 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 29 Sep 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 28 Sep 2026 | ₹0 | — | ₹0 | ₹89 | ₹0 |
| 27 Sep 2026 | ₹0 | — | ₹0 | ₹90 | ₹0 |
| 26 Sep 2026 | ₹0 | — | ₹0 | ₹90 | ₹0 |
| 25 Sep 2026 | ₹0 | — | ₹0 | ₹90 | ₹0 |
| 24 Sep 2026 | ₹0 | — | ₹0 | ₹90 | ₹0 |
| 23 Sep 2026 | ₹0 | — | ₹0 | ₹90 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 18,94,400 | 39,07,200 | ₹34.77 Cr | 2.06× |
| Non-institutional | 22,36,800 | 14,38,400 | ₹12.80 Cr | 0.64× |
| Big non-institutionalwithin NII | 14,97,600 | 10,91,200 | ₹9.71 Cr | 0.73× |
| Small non-institutionalwithin NII | 7,39,200 | 3,47,200 | ₹3.09 Cr | 0.47× |
| Retail individual | 22,17,600 | 12,41,600 | ₹11.05 Cr | 0.56× |
| Total | 63,48,800 | 65,87,200 | ₹58.63 Cr | 1.04× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 01 Oct, 05:12 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 24 Sep 2026 – 01 Oct 2026
- Listing date
- 07 Oct 2026
- Face value
- ₹10 per share
- Price band
- ₹84 – ₹89
- Lot size
- 1,600 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹60.10 Cr
- Fresh issue
- ₹49.47 Cr 55,58,400 shares
- Offer for sale
- ₹6.88 Cr 7,72,800 shares
- Market cap at offer price
- ₹192 Cr
- Promoter holding
- 94.65% → 64.91% pre-issue → post-issue
- ISIN
- INE1WDS01018
- CIN
- U10209AP2014PLC094995
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Indorient Financial Services Ltd.
- Registered office
- RS.No. 677/2A1, Unguturu(V) &(M), Eluru District, Vunguturu (West Godavari) - 534411, Andhra Pradesh, India
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 20,06,400 | 29.94% | 28.51% |
| Anchor investor · within QIB | 0 | — | 0.00% |
| NII (HNI) | 23,47,200 | 35.02% | 33.35% |
| bNII > ₹10L · within NII | 15,64,800 | — | 22.23% |
| sNII < ₹10L · within NII | 7,82,400 | — | 11.12% |
| Retail (RII) | 23,48,800 | 35.04% | 33.37% |
| Employee | 0 | — | 0.00% |
| Market maker | 3,36,000 | — | 4.77% |
| Total issue | 70,38,400 | — | 100.00% |
Net offer to the public of 67,02,400 shares, out of a total issue of 70,38,400. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 1,600 shares per lot, in multiples, at ₹89
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,42,400 |
| S-HNI (min) | 2 | 3,200 | ₹2,84,800 |
| S-HNI (max) | 7 | 11,200 | ₹9,96,800 |
| B-HNI (min) | 8 | 12,800 | ₹11,39,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹89 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 10.10 | 7.31 |
| P/E (×) | 8.81 | 12.18 |
| Price to book (×) | 6.45 | — |
| Market cap | — | ₹192 Cr |
Key performance indicators
Latest reported period, consolidated
- Return on net worth
- 50.16%
- ROCE
- 20.62%
- Debt / equity
- 2.90
- PAT margin
- 3.07%
- EBITDA margin
- 6.14%
- NAV per share
- ₹13.96
- Price to book
- 6.45
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Consolidated ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 388.63 | 339.65 | 318.15 |
| Revenue from operations | 383.8 | 337.62 | 317.39 |
| Other income | 4.83 | 2.03 | 0.76 |
| Total expenses | 367.6 | 325.26 | 309.12 |
| Operating profit | 21.03 | 14.39 | 9.03 |
| Operating margin | 5.41% | 4.24% | 2.84% |
| Profit before tax | 21.04 | 14.39 | 9.03 |
| Profit after tax | 15.61 | 10.35 | 6.66 |
| PAT margin | 4.02% | 3.05% | 2.09% |
| Balance sheet | |||
| Total assets | 254.88 | 192.04 | 135.23 |
| Current assets | 236.84 | 177.95 | 118.1 |
| Current liabilities | 204.86 | 158 | 108.85 |
| Total liabilities | 213.45 | 166.23 | 119.77 |
| Net worth | 41.43 | 25.81 | 15.46 |
| Current ratio | 1.16× | 1.13× | 1.08× |
| Return on equity | 37.68% | 40.10% | 43.08% |
| Cash flow | |||
| Operating cash flow | -6.27 | -5.06 | -15 |
| Investing cash flow | -6.2 | 0.48 | -1.07 |
| Financing cash flow | 12.08 | 5.02 | 15.93 |
| Net cash flow | -0.39 | 0.44 | -0.14 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding Capital Expenditure for Setting Up Proposed Seafood Processing Facility ₹40.03 Cr
A portion of the Net Proceeds is intended to be utilized towards funding the capital expenditure for setting up a proposed seafood processing facility, including purchase and installation of plant, machinery, and equipment, with the balance funded from internal accruals.
2 General Corporate Purposes —
The balance Net Proceeds are intended to be deployed towards general corporate purposes, including purchase of raw materials, working capital requirements, strategic initiatives, employee-related expenses, and other ordinary course of business activities, subject to a cap of lakhs or 15% of Gross Proceeds of the Fresh Issue, whichever is lower.
1 of 2 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Green Asia Impex
Green Asia Impex Limited, incorporated as a private limited company on August 5, 2014 and converted to a public limited company on September 19, 2025, is engaged in the trading, import, and export of shrimps and dried chillies. The company commenced manufacturing, grading and processing of shrimps from Fiscal 2023. It operates a B2B business model, generating revenue through the sale of processed shrimp and dried chillies products to customers across India and international markets including China, USA, Kuwait, Malaysia, UAE, and other countries. The company's operations are headquartered in Eluru District, Andhra Pradesh, with registered office at RS.No. 677/2A1, Unguturu(V) &(M), Vunguturu (West Godavari), Andhra Pradesh. In Fiscal 2026, the company generated total revenue from operations of ₹38,380.39 lakhs, with shrimps representing 87.76% and dried chillies representing 12.24% of revenue.
Management
Pasupuleti Venkata Ramarao
MD
Pasupuleti Meenakshi
Director
Strengths
As stated in the offer document
Export-grade processing facilities compliant with global standards
The company operates export-oriented processing facilities equipped with grading machines, plate freezers, IQF hardeners, and cold storage units, holding certifications including HACCP, ISO 22000, FSSAI, and FDA registration to meet international food safety and regulatory requirements.
Strong, long-standing relationships with customers both in India and abroad
The company has maintained repeat customer revenue of ₹28,382.97 lakhs (73.95% of revenue) in Fiscal 2026, with exports to 7 countries including China, Kuwait, USA, Malaysia, UK, Vietnam, and Thailand, reflecting over a decade of industry relationships.
Trader-cum-commission agent network supporting procurement
The company has established relationships with trader-cum-commission agents in Agricultural Market Committee markets, enabling reliable access to shrimps and dried chillies across seasonal variations, with all procured materials subject to quality checks before acceptance.
Diversification across shrimp and chilli businesses with different product cycles
The company operates in two segments — frozen shrimps (peak: October–July) and dried chillies (peak: January–April) — with complementary seasonal cycles that help reduce dependence on a single raw material and mitigate seasonality-related operational risks.
Cross-functional expertise and operational synergies driving efficiency
The company benefits from centralized oversight of procurement strategy, quality assurance, and compliance across both shrimp and chilli segments, enabling consistent quality standards and improved cost discipline through process optimization.
In-house Quality Assurance and Control Team ensuring compliance
The company maintains dedicated in-house QA and QC teams with a laboratory equipped for physical, chemical, and microbiological analysis, supporting compliance with HACCP, ISO 22000, FSSAI, FDA, and GACC certifications across all processing stages.
Diversified product portfolio catering to global markets
The company processes and exports Vannamei, Black Tiger, and Freshwater shrimps in formats including HOSO, HLSO, and PD, alongside chilli varieties such as Teja, Bydagi, and Guntur Sannam, enabling it to serve multiple geographies and reduce single-product dependence.
Experienced and strong management team driving business growth and expansion
The company is led by Promoters Mr. Pasupuleti Venkata Ramarao and Mrs. Pasupuleti Meenakshi, supported by a management team with technical, operational, and business development experience, enabling expansion into domestic and international markets.
Risk factors
As stated in the offer document
Significant Revenue Concentration in China
The company derives a significant portion of its revenue from exports to China, with sales to Chinese customers aggregating ₹12,009.32 lakhs (31.29% of revenue from operations) in Fiscal 2026. Any adverse economic, regulatory, or geopolitical developments in China — including changes in import policies, trade barriers, or bilateral tensions — could materially impact revenues and profitability.
High Customer Concentration Risk
The company's top 10 customers across both segments accounted for 77.85% of revenue from operations in Fiscal 2026, up from 69.52% in Fiscal 2025. The absence of long-term agreements means customers can cancel or modify orders without compensation, posing a significant threat to revenue stability.
Working Capital Intensive Business with Negative Operating Cash Flows
The company has reported negative net cash flows from operating activities in each of Fiscals 2024, 2025, and 2026 (₹(1,499.90) lakhs, ₹(505.82) lakhs, and ₹(626.63) lakhs respectively), with net working capital days rising from 52 to 90 over the same period. Any inability to meet working capital requirements or service total borrowings of ₹9,946.76 lakhs could materially affect financial condition and operations.
Highly Leveraged Capital Structure
The company has operated with a Debt-to-Equity ratio of 4.12x in Fiscal 2024, 2.90x in Fiscal 2025, and 2.40x in Fiscal 2026, with total finance costs of ₹1,246.69 lakhs in Fiscal 2026. This high leverage increases vulnerability to economic downturns, limits financial flexibility, and exposes the company to interest rate risk on floating-rate debt.
Concentration Risk in Shrimp Segment and Biosecurity Exposure
Shrimp sales constituted 87.76% of total revenue from operations in Fiscal 2026, making the company highly dependent on a single product segment susceptible to disease outbreaks (e.g., White Spot Disease), supply disruptions, and demand fluctuations. Biosecurity failures during farming, processing, or transportation could result in product rejection, reputational damage, and significant financial losses.
Unexecuted Capital Expenditure Orders for Proposed Seafood Processing Facility
The company is yet to place purchase orders for plant, machinery, and equipment aggregating ₹3,240.86 lakhs (100% of total capex from Net Proceeds) for its proposed ₹5,126.94 lakh seafood processing facility in Andhra Pradesh. Any delays in procurement, cost overruns, or failure to obtain regulatory approvals could delay commencement of operations and adversely affect expansion plans.
Significant and Growing Trade Receivables
Trade receivables increased from ₹2,573.58 lakhs (21.79% of current assets) in Fiscal 2024 to ₹9,735.48 lakhs (41.10% of current assets) in Fiscal 2026, with receivable days rising from 26 to 77 days. Any default, dispute, or delay in collection could materially impair liquidity, working capital, and profitability.
No Formal Hedging Policy and Foreign Exchange Exposure
The company has no formal hedging policy, and as of March 31, 2026, ₹41.33 lakhs of foreign currency exposure remained unhedged. Significant fluctuations in the Indian Rupee against the US Dollar or other currencies could adversely affect results of operations and cash flows.
Contingent Liabilities Including Material Income Tax Demand
As at March 31, 2026, the company had contingent liabilities of ₹788.69 lakhs, entirely comprising an income tax demand for FY 2021–22 currently under appeal, representing 19.04% of net worth. An adverse outcome in appellate proceedings could result in a significant cash outflow and materially affect financial condition and investor perception.
Regulatory and Compliance Risks Including Secretarial Filing Delays and Licensing Requirements
The company has a history of significant delays in statutory and secretarial filings (including delays of up to 1,887 days for certain forms) and commenced manufacturing activities prior to formally amending its Memorandum of Association. Any future regulatory actions, penalties, or failure to obtain/renew required licenses and approvals could disrupt operations and adversely affect business performance.
Company Analysis
from RHPGreen Asia Impex Limited is a seafood and agri-commodity processing and export company that processes and exports shrimps and dried chillies to domestic and international markets.
Green Asia Impex Limited, incorporated as a private limited company on August 5, 2014 and converted to a public limited company on September 19, 2025, is engaged in the trading, import, and export of shrimps and dried chillies. The company commenced manufacturing, grading and processing of shrimps from Fiscal 2023. It operates a B2B business model, generating revenue through the sale of processed shrimp and dried chillies products to customers across India and international markets including China, USA, Kuwait, Malaysia, UAE, and other countries. The company's operations are headquartered in Eluru District, Andhra Pradesh, with registered office at RS.No. 677/2A1, Unguturu(V) &(M), Vunguturu (West Godavari), Andhra Pradesh. In Fiscal 2026, the company generated total revenue from operations of ₹38,380.39 lakhs, with shrimps representing 87.76% and dried chillies representing 12.24% of revenue.
Objects of the Issue
- Funding capital expenditure for setting up the Proposed Seafood Processing Facility at Chinnayagudem, Andhra Pradesh ₹4,002.77 lakhs p.29
- Funding the capital expenditure for setting up the proposed seafood processing facility including purchase and installation of plant, machinery & equipment ₹4,002.77 lakhs p.103
- General Corporate Purposes p.103
- Capital expenditure for setting up the proposed seafood processing facility p.136
- General corporate purposes ₹[●] lakhs, not to exceed 15% of Gross Proceeds of the Fresh Issue or ₹1,000.00 lakhs, whichever is lower p.135
- Setting up an additional shrimp processing facility with approximately 4,955.69 sqm built-up area at Chinnayagudem Village to augment processing capacity from 10,800 MTPA to approximately 21,900 MTPA, enabling higher volume processing, product diversification including Ready-to-Cook offerings, and improved operational efficiencies ₹4,002.77 lakhs p.217
- Funding capex for expansion of processing capacity for shrimps and other products ₹4,002.77 lakhs from the Net Proceeds of the Fresh Issue p.346
Issue Structure
- Total Issue
- Up to ₹6,010.00 lakhs
- Fresh Issue
- Up to ₹5,310.00 lakhs (Equity Shares of face value of ₹10 each)
- Offer for Sale
- Up to ₹700.00 lakhs (Offer for Sale of ₹370.00 lakhs by Pasupuleti Venkata Ramarao and ₹330.00 lakhs by Pasupuleti Meenakshi, aggregating ₹700.00 lakhs)
- Price Band
- [●] (Price Band not finalized in this Red Herring Prospectus)
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10 per Equity Share
Business Model
The company operates a B2B business model, sourcing raw materials (shrimps and dried chillies) from traders cum commission agents operating in Agricultural Market Committees, processing and grading them according to customer specifications in private label arrangements, and exporting processed products to domestic and international markets. Revenue is generated through the sale of processed shrimp products (including frozen and value-added products) and dried chillies products to large customers, with a significant portion derived from a limited number of large customers.
Business Segments
SWOT Analysis
- • Established revenue base with consistent growth trajectory(p.40)
- • Strong profitability improvement with PAT growth of 53.10% CAGR(p.40)
- • Improved EBITDA margin expansion from 5.47% to 6.57%(p.40)
- • Established market position with consistent financial performance(p.106)
- • Healthy capacity utilization supporting operational efficiency(p.106)
- • Strategic land acquisition supporting expansion(p.107)
- • Revenue growth trajectory with improving profitability(p.106)
- • Export-grade processing facilities compliant with global standards(p.140)
- • Strong long-standing relationships with customers in India and abroad(p.140)
- • Trader-cum-commission agent network supporting procurement(p.140)
- • Diversification across shrimp and chilli businesses with different product cycles(p.140)
- • Export-grade processing facilities with global certifications(p.214)
- • Strong repeat customer base with 73.95% revenue from existing customers(p.214)
- • Diversified product portfolio across two distinct product segments with different seasonal cycles(p.215)
- • In-house Quality Assurance team with modern laboratory testing capabilities(p.216)
- • Established trader-cum-commission agent procurement network ensuring raw material access(p.215)
- • Strong management team with industry experience(p.216)
- • Established export presence and recognition in seafood and agricultural commodities(p.255)
- • Diversified revenue streams from both export and domestic markets(p.313)
- • Strong profitability trajectory with growing profit margins(p.285)
- • Improved financial leverage and debt service capability(p.322)
- • Diversified product portfolio in shrimp and chilli segments with revenue distribution(p.349)
- • Strong revenue growth trajectory with 13.68% growth in FY2026(p.348)
- • Improving profitability with PAT margin expansion to 4.07% in FY2026(p.349)
- • Substantial improvement in EBITDA margin from 6.14% to 6.57%(p.349)
- • Strengthening balance sheet with net worth increasing 60.47% to ₹4,142.60 lakhs(p.349)
- • Improved debt-equity ratio demonstrating deleveraging(p.349)
- • In-house processing facility reducing operational costs(p.358)
- • Strong repeat customer base with 73.95% revenue from repeat customers(p.346)
- • Significant exposure to China representing 31.29% of revenue(p.28)
- • High customer concentration with top 10 customers accounting for 77.85% of revenue(p.35)
- • Negative operating cash flows in all three fiscal years(p.34)
- • Highly leveraged capital structure with debt-to-equity ratio of 2.40(p.41)
- • Material contingent income tax liability of ₹788.69 lakhs representing 19.04% of net worth(p.32)
- • Heavy reliance on non-contractual suppliers for raw materials(p.33)
- • Lack of formal hedging policy creating foreign exchange exposure(p.31)
- • Significant trade receivables at 77 days representing 25.37% of annual revenue(p.44)
- • Unsecured loans that can be recalled at any time(p.53)
- • Promoter control dilutes minority shareholder interests(p.53)
- • High financial indebtedness requiring substantial interest payments(p.54)
- • Significant contingent liabilities from tax disputes(p.72)
- • No independent verification of industry data used in prospectus(p.54)
- • High debt-to-equity ratio indicating financial leverage(p.143)
- • Dependence on a few key export destinations(p.172)
- • Heavy dependence on a small number of customers concentrated in shrimp segment(p.225)
- • Significant reliance on China market for shrimp exports(p.225)
- • High debt-equity ratio of 2.40x indicating substantial leverage(p.213)
- • Low net capacity utilization in dried chillies processing facility(p.230)
- • Significant decline in dried chilli exports from 4,948.14 lakhs in FY25 to 1,627.55 lakhs in FY26(p.232)
- • Significant operational cash flow deficits despite profitability(p.286)
- • High and growing short-term borrowing dependency(p.305)
- • Concentration of shareholding among two promoters with limited diversification(p.300)
- • Recent disinvestment of subsidiary and loss of operational control(p.256)
- • Income tax demand and ongoing litigation creating contingent liability(p.310)
- • Heavy reliance on short-term borrowings with high working capital intensity(p.350)
- • Significant increase in finance costs by 95.56% impacting profitability(p.353)
- • Negative operating cash flow indicating working capital absorption(p.361)
- • Substantial increase in trade receivables with lengthened collection cycles(p.364)
- • Low net capacity utilization for processing facilities(p.347)
- • Outstanding disputed income tax demand creating contingent liability(p.325)
- • Significant dependence on few customers in shrimp segment(p.368)
- • Increase in operating expenses impacting margins(p.352)
- • Expansion into value-added seafood processing through Proposed Seafood Processing Facility(p.29)
- • Diversification into emerging export markets beyond China concentration(p.39)
- • Expansion of domestic market penetration for shrimps segment(p.28)
- • Expansion of processing capacity to capture growing demand(p.106)
- • Shift towards higher-margin value-added products(p.107)
- • Favourable long-term industry growth outlook(p.108)
- • Supportive government policies for seafood sector(p.106)
- • Diversification into domestic market with growing consumption(p.108)
- • Expansion into existing and new business areas supported by government infrastructure development(p.166)
- • Growing demand for frozen shrimp in export markets with CAGR of 20%(p.182)
- • EU market for shrimps showing strong growth at 13.3% CAGR(p.178)
- • India's dominant position in global red chili exports with 79.5% market share(p.174)
- • Rising demand for premium shrimp varieties like Black Tiger growing at 13.8% CAGR(p.180)
- • Large addressable market with TAM projected to grow to INR 1,37,500 crore by 2030(p.235)
- • Current demand pipeline 2-3x existing capacity indicating significant growth potential(p.235)
- • Planned capacity expansion to 21,900 MTPA enabling revenue growth(p.217)
- • Value addition opportunity through Ready-to-Cook products for premium markets(p.217)
- • Strong government support including 54% budget increase for fisheries(p.186)
- • Expansion of export markets through zero-tariff trade agreements(p.187)
- • Strategic expansion into shrimp export market to China since 2021(p.255)
- • Growth in domestic shrimp market with improved margins(p.313)
- • Leverage of government export promotion schemes and incentives(p.250)
- • Capacity expansion capabilities with existing manufacturing and storage infrastructure(p.256)
- • Expansion of processing capacity to increase production volumes(p.347)
- • Growth in domestic market with 30.85% increase in domestic revenue(p.351)
- • Expansion of IQF shrimp production with 20% capacity utilization(p.347)
- • Growth in new customer acquisition with 94.26% of revenue increase from non-repeat customers(p.351)
- • Geographic expansion with commencement of exports to Thailand(p.351)
- • Increasing export demand for shrimp products(p.351)
- • Government support through subsidies and export incentives(p.350)
- • Economic slowdown and regulatory changes in China impacting export demand(p.28)
- • Geopolitical tensions between India and China affecting trade relations(p.28)
- • Biosecurity risks and disease outbreaks in shrimp farming including White Spot Disease(p.30)
- • Adverse weather conditions and natural disasters affecting raw material availability(p.30)
- • Strict quality requirements and regulatory compliance for export markets(p.32)
- • Intense competition from organized and unorganized industry players(p.45)
- • Seasonality in procurement of raw materials affecting margins(p.37)
- • Increased input costs and commodity price volatility(p.31)
- • Global economic slowdown could reduce export demand(p.57)
- • US tariffs on shrimp imports adversely affecting competitiveness(p.59)
- • International trade policy uncertainty and tariff risks(p.59)
- • Interest rate increases could adversely affect financial results(p.54)
- • Regulatory and environmental compliance risks(p.54)
- • Natural disasters and pandemics could disrupt operations(p.57)
- • Volatile global securities markets affecting equity prices(p.61)
- • US market for shrimp showing decline with negative CAGR of -0.7%(p.178)
- • Trade tariffs and import restrictions affecting shrimp exports(p.171)
- • Weather-related disruptions impacting crop quality and supply(p.182)
- • Global shrimp market showing marginal growth with only 0.7% CAGR from CY19-CY25(p.176)
- • Biosecurity and cold chain integrity risks in aquaculture(p.167)
- • Significant disease risks in shrimp farming including EHP parasite causing INR 4,000 crore annual losses(p.189)
- • Global shrimp price decline due to oversupply and intensified competition(p.185)
- • Heavy reliance on exports with limited domestic consumption support(p.190)
- • Tariff risks in key markets with 10% tariff imposed on US shrimp imports(p.187)
- • Red chilli market downturn with 35% price drop from January 2024 to January 2025(p.188)
- • High pest and disease susceptibility in chilli cultivation affecting yields(p.190)
- • Exchange rate volatility affecting export competitiveness and realization(p.292)
- • Regulatory restrictions on import and export of specific products or countries(p.250)
- • Commodity price volatility and input cost fluctuations in shrimp and chillies(p.315)
- • Working capital pressure from extended receivables collection cycles(p.323)
- • Inventory management challenges with potential obsolescence and seasonal variations(p.311)
- • Significant decline in dried chilli export revenues by 33.73%(p.351)
- • Exposure to China market volatility with major chilli export decline(p.351)
- • High competition from organized and backward-integrated players(p.347)
- • Dependence on trader-cum-commission agents for raw material sourcing(p.347)
- • Sensitivity to raw material price fluctuations and availability(p.366)
- • Sensitivity to working capital financing costs and interest rate movements(p.347)
- • Risk from export market uncertainties and credit term extensions(p.364)
- • Potential delays and cost overruns in capacity expansion project(p.347)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Pasupuleti Venkata Ramarao | Promoter/Managing Director | — | — |
| Pasupuleti Meenakshi | Promoter | — | — |
| Pasupuleti Venkata Ramarao | Promoter | 48.98% | — |
| Pasupuleti Meenakshi | Promoter | 43.04% | — |
| Not identified in this part of document | Promoter/Promoter Group | — | — |
| Mr. Pasupuleti Venkata Ramarao | Promoter/Managing Director | — | — |
| Mrs. Pasupuleti Meenakshi | Promoter | — | — |
| Pasupuleti Venkata Ramarao | Promoter | 48.98% | — |
| Pasupuleti Meenakshi | Promoter | 43.04% | — |
| Pasupuleti Venkata Ramarao | Promoter | 757.22 lakhs (Share Capital) | — |
| Pasupuleti Meenakshi | Promoter | 665.40 lakhs (Share Capital) | — |
| Pasupuleti Venkata Ramarao | Promoter Selling Shareholder | — | — |
| Pasupuleti Meenakshi | Promoter Selling Shareholder | — | — |
| Pasupuleti Venkata Ramarao | Promoter Selling Shareholder | — | — |
| Pasupuleti Meenakshi | Promoter Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
The comparable listed companies named in the offer document, as on 31 Mar 2026
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Green Asia Impex Ltd. THIS ISSUE | 10.56 | 22.74 | 12.18, computed at the offer price | 6.45, computed at the offer price | 46.43% |
| 12.43 | 168.96 | 29.16 | 2.15 | 7.60% | |
| 6.59 | 35.47 | 17.21 | 3.23 | 20.37% | |
| 4.63 | 26.25 | 4.40 | 0.77 | 22.85% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.