By Wealthova | Last Updated: September 22, 2026
Green Asia Impex Limited, an established player in the agro and marine export sector, is gearing up to make its primary market debut with an upcoming ₹60.10 Crore SME IPO. Operating out of Andhra Pradesh, the company specializes in the sourcing, processing, and export of high-quality frozen seafood and agri-commodities, with a primary focus on frozen shrimps and dried chillies. Operating a robust, export-oriented business model, Green Asia Impex serves a diversified customer base across multiple international geographies, holding essential global food safety certifications. The subscription window for this book-built issue opens on September 24, 2026, and closes on September 28, 2026. The price band is set between ₹85 to ₹90 per equity share. The offering comprises a Fresh Issue of ₹53.10 Crore alongside an Offer for Sale (OFS) of ₹7.00 Crore. Retail investors must apply for a minimum of 2 lots (3,200 shares), requiring an investment of ₹2,88,000 at the upper price band. The company plans to utilize the fresh capital primarily to fund capital expenditure for setting up a new seafood processing facility and for general corporate purposes. Set to list on the NSE SME platform, market participants are closely watching this fast-growing enterprise, backed by a strong FY26 total revenue of ₹388.63 Crore and a net profit of ₹15.61 Crore. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!
September 24, 2026
September 28, 2026
₹85 to ₹90
(Book Built)1,600 Shares
(Min. 2 Lots for Retail)₹60.10 Cr
(66.78 Lakh Shares)₹53.10 Cr
(+ ₹7.00 Cr OFS)35.00% Allocation
₹10 Base
SME (NSE SME)
Incorporated in 2014, Green Asia Impex Limited is a prominent, export-oriented enterprise operating in the Indian agro and marine food processing sector. Based in Andhra Pradesh, the company specializes in the sourcing, processing, and export of high-quality frozen seafood and agricultural commodities, serving a robust Business-to-Business (B2B) network of domestic and international importers, distributors, and food processors.
The company’s core business operations and strategic advantages include:
The Green Asia Impex IPO comprises a ₹53.10 Crore Fresh Issue alongside an Offer for Sale (OFS) of ₹7.00 Crore. While the OFS proceeds will go directly to the selling shareholders, the net proceeds from the fresh equity issuance will be actively deployed to fund the following primary objectives:
₹40.03 Crore is specifically earmarked for setting up a brand-new seafood processing facility in Andhra Pradesh, including the purchase and installation of essential plant, machinery, and equipment to scale production[cite: 3].
₹13.07 Crore represents the balance of the fresh issue proceeds, which is allocated to cover standard public issue expenses, meet working capital contingencies, and fund general corporate purposes.
| 📅 Period Ended | 📈 Total Income | 💼 Net Worth | 💰 PAT | 🏦 Assets |
|---|---|---|---|---|
| FY 2024 | ₹318.15 | ₹15.46 | ₹6.66 | ₹118.10 |
| FY 2025 | ₹339.65 | ₹25.81 | ₹10.35 | ₹177.95 |
| FY 2026 | ₹388.63 | ₹41.43 | ₹15.61 | ₹254.88 |
| Financial KPI (FY26)* | Value |
|---|---|
| Return on Equity (ROE) | 46.43% (FY26) |
| Return on Capital Employed (ROCE) | 19.69% (FY26) |
| EBITDA Margin | 6.57% (FY26) |
| PAT Margin | 4.07% (FY26) |
| Debt to Equity Ratio | 2.40x (FY26) |
| Return on Net Worth (RoNW) | 46.43% (FY26) |
| Earnings Per Share (EPS) | ₹10.10 (Pre-IPO) | ₹7.31 (Post-IPO) |
| Price/Earning (P/E) Ratio | 8.91x (Pre-IPO) | 12.31x (Post-IPO) |
| Net Asset Value (NAV) | ₹22.74 (Pre-IPO) |
| Price to Book (P/B) | 3.96x (At Upper Band) |
| Market Cap at Offer Price | ₹139.13 Cr (Pre-IPO) | ₹192.23 Cr (Post-IPO) |
| Shareholder Category | Pre-IPO Holding | Post-IPO Holding |
|---|---|---|
| Promoter & Promoter Group | 94.65% | 64.87% |
| Public / Institutional / Others | 5.35% | 35.13% |
Green Asia Impex Limited is promoted by Pasupuleti Venkata Ramarao and Pasupuleti Meenakshi[cite: 3]. Prior to the issue, the promoter duo held a controlling 94.65% equity stake[cite: 3]. As part of the ₹60.10 Crore offering, the promoters are offloading ₹7.00 Crore via Offer for Sale (OFS)—with Pasupuleti Venkata Ramarao selling shares worth ₹3.70 Crore and Pasupuleti Meenakshi selling shares worth ₹3.30 Crore[cite: 3]. Combined with the ₹53.10 Crore fresh equity issue, the post-IPO promoter holding will recalibrate to a solid majority of 64.87%[cite: 3], ensuring intact operational control as the company executes its ₹40.03 Crore seafood processing capex.
| Company Name | EPS (₹) | P/E Ratio (Post-IPO) | NAV (₹) |
|---|---|---|---|
| Green Asia Impex Ltd (IPO) | 7.31 | 12.31x | 22.74 |
| Apex Frozen Foods Limited | 12.43 | 29.16x | 168.96 |
| Kings Infra Ventures Limited | 6.59 | 17.21x | 35.47 |
| Essex Marine Limited | 4.63 | 4.40x | 26.25 |
Green Asia Impex Limited brings a high-volume agro and marine export enterprise to the NSE SME platform. Headquartered in Andhra Pradesh, the company specializes in sourcing, processing, and globally exporting frozen seafood (shrimps) and premium agricultural commodities (dried chillies). By operating a dual-segment business model that serves established international B2B buyers with strict quality certifications, the company has capitalized effectively on India's growing dominance in global seafood and spice exports. Over recent years, top-line performance has shown robust consistency, scaling from ₹318.15 Crore in FY24 to ₹388.63 Crore in FY26. Concurrently, net earnings accelerated sharply, with Profit After Tax (PAT) more than doubling from ₹6.66 Crore to ₹15.61 Crore, translating into an exceptional FY26 Return on Equity (ROE) of 46.43% and an ROCE of 19.69%.
A candid examination of the company's operating architecture reveals strong capital efficiency balanced against typical agro-commodity risks. On the positive side, the company efficiently converts capital into profits; however, operating in a highly commoditized trading sector yields structurally thin margins—specifically an EBITDA margin of 6.57% and a PAT margin of 4.07% in FY26. Furthermore, the company carries significant leverage, reporting a Debt-to-Equity ratio of 2.40x. Despite this leverage, the IPO objectives are highly strategic: a dominant 75.39% (₹40.03 Crore) of the fresh capital is strictly earmarked for hard capital expenditure to establish a brand-new, advanced seafood processing facility, which will directly scale their high-margin export capacity.
On the valuation front, at the upper price band of ₹90 per equity share (Face Value ₹10), the IPO is valued at an attractive pre-issue P/E of 8.91x (pre-IPO EPS of ₹10.10) and a post-issue P/E of 12.31x (post-IPO EPS of ₹7.31). This sits at a noticeable discount when benchmarked against listed peers like Apex Frozen Foods (P/E ~29x) and Kings Infra Ventures (P/E ~17.21x). Backed by an aggressive capex expansion plan, strong return ratios, and favorable export tailwinds, the IPO requires a minimum retail commitment of ₹2,88,000 (2 lots / 3,200 shares). Green Asia Impex warrants a SUBSCRIBE rating—best suited for investors seeking exposure to India's high-growth export processing sector at a very reasonable entry multiple.
Disclaimer: The information provided above is for educational and informational purposes only and does not constitute financial advice. Initial Public Offerings (IPOs) carry market risks, and equity investments are subject to broader market fluctuations. Wealthova is not a SEBI-registered investment advisor. Always consult with a certified financial planner and conduct your own due diligence before locking up capital in any public issue.
| Role / Entity | Contact & Details |
|---|---|
| 📋 IPO Registrar |
Bigshare Services Pvt. Ltd.
Office No S6-2, 6th floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai - 400093, Maharashtra, India
Phone: +91 86575 78989 / 80692 19065[cite: 4]
Email: ipo@bigshareonline.com[cite: 4]
Website: bigshareonline.com
|
| 🏢 Company Contact |
Green Asia Impex Limited
RS.No. 677/2A1, Unguturu(V) & (M), Eluru District, Andhra Pradesh - 534411, India[cite: 4]
Phone: +91 8816 295 325
Email: info@greenasiaimpex.com
Website: greenasiaimpex.com
|
| 💼 Merchant Bankers |
Indorient Financial Services Ltd.
Book Running Lead Manager A/501, Executive Spaces, Rustomjee Central Park, Andheri Kurla Road, Chakala, Andheri East, Mumbai - 400093, Maharashtra, India
Phone: +91 79772 12186
Email: compliance-ifsl@indorient.in
Website: indorient.in
|