The SME IPO of Sri Priyanka Geo Commex will open for subscription on Wednesday, with muted grey market signals ahead of the issue. The shares commanded a grey market premium (GMP) of 0%, indicating no expected listing gains at the current premium.
The Rs 94.5-crore IPO is entirely a fresh issue of 44.58 lakh equity shares and will close for subscription on June 29. The company has fixed a price band of Rs 207-212 per share. Shares are proposed to be listed on the NSE SME platform on July 2, while the allotment is expected to be finalised on June 30.
Retail investors can bid for a minimum of 1,200 shares, requiring an investment of Rs 2.54 lakh at the upper end of the price band. The minimum application size for HNI investors is 1,800 shares, amounting to Rs 3.82 lakh.
The IPO proceeds will be used to repay certain borrowings, fund working capital requirements, invest in its wholly owned Singapore subsidiary Geo Min Commodities Pte. Ltd. for working capital, and for general corporate purposes.
Commodity-focused business
Sri Priyanka Geo Commex operates a diversified commodity business spanning critical minerals and edible oils.
Its critical minerals portfolio includes barite, fluorspar and copper cathodes, with overseas operations conducted through its Singapore subsidiary Geo Min Commodities and its Morocco-based step-down subsidiary Atlas Resources International.
The company also manufactures crude and refined rice bran oil at its facility in Andhra Pradesh, which has an annual refining capacity of 15,000 metric tonnes and solvent extraction capacity of 60,000 metric tonnes. It also generates revenue from by-products such as de-oiled rice bran, gums and wax.
During FY25, the company supplied products across seven Indian states and five international markets.
Financial performance
The company has reported a sharp improvement in profitability over the past two years.
For FY25, total income stood at Rs 266.65 crore, while profit after tax rose nearly five-fold to Rs 9.82 crore from Rs 2.04 crore a year earlier. For the nine months ended December 2025, the company reported total income of Rs 249.67 crore and a profit after tax of Rs 17.76 crore, already surpassing the previous full year's earnings.
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