Sri Priyanka Geo Commex IPO
smeupcomingAbout the company
Sri Priyanka Geo Commex is a commodity-focused company engaged in the supply of minerals and the manufacturing of rice bran oil. The company has operations across India, Morocco, and Singapore. Its mineral portfolio includes barite, fluorspar, and copper cathode, serving industries such as energy, chemicals, infrastructure, and electronics. The company manufactures crude and refined rice bran oil through extraction and refining processes, with its manufacturing facility located in Andhra Pradesh, having a solvent extraction plant capacity of 60,000 MT per annum and an oil refinery capacity of 15,000 MT per annum. Products are sold mainly in bulk to unbranded edible oil players and re-packers. The India business is conducted directly by the company, while international operations are conducted through its wholly-owned Singapore subsidiary, Geo Min Commodities Pte. Ltd. ("Geo Min"), and its step-down Moroccan subsidiary, Atlas Resources International ("Atlas Resources"). Total barite and fluorspar sales in FY25 stood at 35,672 tons and 15,163 tons respectively, and for 9MFY26 at 70,730 tons and 4,066 tons. The sale and marketing of copper cathode is undertaken by Geo Min, which sources Grade A cathodes (LME-approved) from smelters in Chile, with procurement diversified through trading partners in Singapore and the UAE, supplying customers in the UAE and Singapore. Total copper cathode sales in FY25 were 1,806 tons, and 1,202 tons for 9MFY26. This segment has become a key revenue driver for the group. As part of its backward integration strategy, the company has secured mining permits for one barite mine and one copper mine, both in Morocco. The company expects to receive the mining licence by the end of June or mid-July 2026, post which commercial extraction is proposed to commence. In 9MFY26, copper, barite/fluorspar, rice bran, and edible oil/by-products & others contributed 44.39%, 29.18%, 12.14%, and 14.29%, respectively. Geographically, revenue from outside India constituted 87.85% of revenue for 9MFY26, with India contributing the balance. Singapore became the largest revenue contributor for 9MFY26 at 58.50%, while the USA emerged as a new market contributing 25.26% during the same period.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 04 Sep | ₹0 | ₹212 | 0 |
| 03 Sep | ₹0 | ₹212 | 0 |
| 02 Sep | ₹0 | ₹212 | 0 |
| 01 Sep | ₹0 | ₹212 | -2 |
| 31 Aug | ₹2 | ₹214 | +2 |
| 30 Aug | ₹0 | ₹212 | 0 |
| 29 Aug | ₹0 | ₹212 | 0 |
| 28 Aug | ₹0 | ₹212 | 0 |
Strengths
- Engaged in the trading and distribution of agricultural commodities with an established market presence.
- Diverse product portfolio helps cater to varying customer requirements.
- Benefits from strong demand for agricultural commodities in domestic markets.
- Established relationships with suppliers, traders, and customers support business continuity.
- Experienced management team with industry knowledge and operational expertise.
- Asset-light business model enables operational flexibility.
- Opportunity to expand market reach through a growing distribution network.
- Positioned to benefit from long-term growth in India's agriculture and commodity sectors.
Risks
- Business performance is influenced by fluctuations in commodity prices.
- Dependence on agricultural production and crop availability can impact operations.
- Intense competition in the commodity trading and distribution industry.
- Margins may remain under pressure due to volatile market conditions.
- Regulatory changes affecting agricultural trade could impact business performance.
- Working capital-intensive operations may require continuous funding support.
- Exposure to credit risk from customers and counterparties.
- Weather-related disruptions and adverse agricultural conditions may affect supply and demand dynamics.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
UpcomingTBABidding starts for all investor categories
IPO Closes
UpcomingTBALast day to place your bid
Basis of Allotment
UpcomingTBAShare allotment finalised
Refund Initiation
UpcomingTBARefunds credited for non-allottees
Credit to Demat
UpcomingTBAAllotted shares credited to demat account
Listing on Exchange
UpcomingTBAShares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 600 | ₹127,200 | 1 | ₹127,200 | 1 lot only |
| HNI | 2 | 1200 | ₹254,400 | 2 | ₹254,400 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 2,267,303 | 47.5 | 0 | 0.00x | 100% |
| NII | 15% | 680,191 | 14.25 | 408,115 | 0.60x | 100% |
| Retail | 35% | 1,587,112 | 33.25 | 111,098 | 0.07x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
Date-wise daily subscription (all categories)
| Date / Day | Retail (x) | QIB (x) | NII (x) | EMP (x) | OTHER (x) | Total (x) | Total |
|---|---|---|---|---|---|---|---|
04 Sep Day 1 | 0.01x | 0.00x | 0.08x | 0.00x | 0.00x | 0.02x | 0.11x |
Date-wise cumulative subscription figures per category, refreshed each bidding day.