An Integrated Dry Fruit Sourcing, Processing & Retail Platform opens its IPO on June 29, 2026
ADON AGRO COMMODITIES LIMITED: An Integrated Dry Fruit Sourcing, Processing & Retail Platform opens its IPO on June 29, 2026
Mumbai (Maharashtra) [India], June 25: Adon Agro Commodities Limited, an integrated agro-commodity company engaged in the procurement, processing, and marketing of premium dry fruits and nuts under the ‘Hunger Nuts’ brand, has announced the opening of its Initial Public Offering (IPO) on June 29, 2026.
Fresh Issue: 62,90,000 Equity Shares of ₹10 each
Price Band: ₹66 – 70 per Equity Share
Lot Size: 2,000 Equity Shares
Issue Size: ₹44.03 Crore (At Upper Price Band)
Proposed to be listed on the SME Platform of BSE (BSE SME)
The net proceeds from the fresh issue will be utilized towards funding working capital requirements and general corporate purposes.
The issue will open for public subscription on June 29, 2026 and close on July 01, 2026. Galactico Corporate Services Limited is the Book Running Lead Manager to the Issue and KFin Technologies Limited is the Registrar to the Issue.
Mr. Narayanswamy Venkitkrishnan, Managing Director of Adon Agro Commodities Limited, said:
“When we started Adon Agro Commodities, we had one clear focus – source the right quality products, build honest relationships, and deliver consistently to our customers. Over the years, that focus has helped us grow from a small trading business into a company that today handles procurement from key origins like the UAE, Afghanistan, Chile, the United States, and Sri Lanka, across categories like almonds, cashews, walnuts, pistachios, and raisins.
Setting up our subsidiary, Adon Agro Trading L.L.C. in Dubai, was an important step that helped us get closer to international markets and strengthen our sourcing. Alongside this, the launch of the Hunger Nuts brand gave us the opportunity to serve the end consumer directly – something we are very proud of.
This IPO is a major step forward for us. IPO proceeds will help us fund our working capital requirements. We are excited about what lies ahead and remain committed to creating real, long-term value for all our stakeholders.”
Mrs. Jigisha Narayanswamy, Executive Director of Adon Agro Commodities Limited, said:
“One of the most important decisions we made as a company was to build our own processing facility at MIDC Mahape, Navi Mumbai. It allowed us to take full control of how our products are cleaned, graded, processed, and packed.
Building a brand in the dry fruits space is not easy, but we have worked hard to make Hunger Nuts accessible across different channels – from B2B and APMC wholesale to modern retail stores and e-commerce platforms. Each channel brings us closer to a different set of consumers, and together they have helped us build a well-rounded distribution model.
Our goal is simple – to make Hunger Nuts a household name across India and to keep delivering quality that our customers can count on.”
Mr. Shubham Ratan Sharma, Executive Director of Adon Agro Commodities Limited, said:
“The numbers tell a clear story. Our revenue from operations has grown from ₹2,233.48 Lakhs in FY23 to ₹10,303.55 Lakhs in FY25, and for the ten-month period ended January 31, 2026, we recorded ₹28,716.20 Lakhs.
That kind of growth does not happen by accident – it comes from building the right systems, the right team, and the right customer relationships over time.
We are confident in where we are headed and look forward to creating strong, sustainable returns for our shareholders.”
Mr. Vishal Sancheti, Chief Executive Officer, Galactico Corporate Services Limited (Book Running Lead Manager), said:
“Adon Agro Commodities Limited is exactly the kind of business that Galactico Corporate Services is proud to bring to the public markets – one that has built its growth on strong fundamentals. India’s dry fruits sector is growing at a CAGR of over 10%, and within that, AACL has built something genuinely different – sourcing from six countries across the globe, processing in-house at its MIDC Navi Mumbai facility, selling under its own brand Hunger Nuts across retail and digital channels, and building an international presence through its Dubai subsidiary.
The numbers speak for themselves. The Company’s revenue has grown 13x in just three years, while PAT margins have expanded significantly from 0.38% in FY23 to 7.50% for the ten-month period ended January 2026, with the Company reporting a PAT of ₹2,155.07 Lakhs during the same period.
About The Company
Incorporated in Mumbai, Adon Agro Commodities Limited is engaged in the sourcing, importing, processing, packing, and distribution of dry fruits, nuts, seeds, and berries – including almonds, cashews, walnuts, pistachios, raisins, dates, and apricots. The Company sources its products both domestically and internationally from countries including the UAE, Afghanistan, Chile, the United States, and Sri Lanka, and sells them in bulk to B2B customers as well as under its proprietary brand, “Hunger Nuts”, across wholesale, retail, and direct-to-consumer (D2C) channels.
The Company operates an in-house processing facility at MIDC Mahape, Navi Mumbai, where it undertakes cleaning, grading, processing, and packing of dry fruits. Its distribution network spans direct sales, APMC Navi Mumbai, select third-party distributors across India, large-format retail stores, and leading e-commerce marketplaces. The Company is promoted by Mr. Narayanswamy Venkitkrishnan, Mr. Shubham Ratan Sharma, and Mrs. Jigisha Narayanswamy, who bring significant experience in agro-commodity trading and retailing.
Disclaimer:
Certain statements in this document that are not historical facts are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Investors should read the Red Herring Prospectus / Prospectus, including the section titled ‘Risk Factors’, before making any investment decision. This announcement is not for release, publication or distribution, directly or indirectly, outside India.
