IPO Details

Bidding Dates

26 Sep '25 - 30 Sep '25

Minimum Investment

₹2,37,600/ 2 Lots (2400 Shares)

Price Range

₹93 to ₹99

Maximum Investment

₹2,37,600/ 2 Lots (2400 Shares)

Retail Discount

To be announced

Issue Size

₹23.52 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)   |  

Rukmani Devi Garg Agro Impex IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 26, 25

IPO Closing Date

Sep 30, 25

Basis of Allotment

Oct 01, 25

Initiation of Refunds

Oct 03, 25

IPO Listing Date

Oct 06, 25

Rukmani Devi Garg Agro Impex IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 25, 2025

 0.00 2.41 0.01 0.37

About Rukmani Devi Garg Agro Impex

Rukmani Devi Garg Agro Impex IPO is a book build issue of ₹23.52 crores. The issue is entirely a fresh issue of 0.24 crore shares of ₹23.52 crore.

The IPO opens for subscription on September 26, 2025, to September 30, 2025.

The basis of allotment is expected to be finalised on October 1, 2025. The shares are proposed to be listed on the BSE SME, with a tentative listing date of October 6, 2025. The issue price for Rukmani Devi Garg Agro Impex IPO has been fixed at ₹93 to ₹99 per share.

The lot size is set at 1200 shares. A retail investor is required to make a minimum investment of ₹2,37,600 for 2400 shares. For High Net-worth Individuals (HNIs), the minimum application is for 3 lots or 3,600 shares, amounting to ₹3,56,400.

Fedex Securities Pvt Ltd is the book running lead manager and Bigshare Services Pvt Ltd is the registrar of the issue. The market maker of the company is Aftertrade Broking Pvt Ltd. Refer to Rukmani Devi Garg Agro Impex IPO RHP for complete details.

Rukmani Devi Garg Agro Impex IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Upto ₹1,650 lakh will be earmarked for funding working capital requirements.
  2. The balance amount will be used for general corporate purposes.

About Rukmani Devi Garg Agro Impex Limited

Rukmani Devi Garg Agro Impex Limited, incorporated in 1998, operates as an agricultural produce aggregator. The company consolidates crops such as wheat, mustard, coriander, maize, flax seeds, and soybean from a wide network of small and fragmented farmers.

These products are graded based on quality and sold in bulk (“raw”) to a diversified customer base, including corporates, flour mills, solvent-extraction/oil mills, exporters, and agricultural processors across India. As of March 31, 2025, the company’s revenue from bulk/traded sales (including mill-quality produce) stood at ₹22,922.88 lakh.

To diversify its offerings, Rukmani Devi Garg Agro Impex Limited established a processing unit at F-378 and J-375, Indraprastha Industrial Area, Kota, Rajasthan, in Fiscal 2015, for grading, sorting, and packaging raw wheat into processed wheat.

The company markets processed wheat under its brands “Sharbati,” “Happyfamily,” and “Taj Mahal” through a network of distributors and dealers across Rajasthan, Uttar Pradesh, Maharashtra, Haryana, Punjab, Delhi, and Chandigarh (“branded sales”).

It also sells lower-quality processed wheat in bulk as “mill-quality.” As of March 31, 2025, revenue from branded sales (excluding mill-quality) was ₹9,776.62 lakh, supported by a distributor and dealer network of over 118 partners.

The company’s primary agricultural products—wheat, mustard, coriander, maize, flax seeds, and soybean—are sourced from numerous farmers via a network of over 500 kaccha aadtiya (agents) in Rajasthan and Madhya Pradesh. These agents coordinate between the company and the farming community during harvest periods.

The produce is graded and stored, with wheat also stored post-processing, at the company’s facilities, including owned warehouses, the processing unit, and leased warehouses.

As of March 31, 2025, the company’s three owned warehouses have an aggregate capacity of approximately 20,000 MT, while the processing unit provides an additional 3,500 MT. Warehouses are also leased as needed; for example, the company currently leases two warehouses from a group entity with a combined capacity of 20,000 MT.

Industry Outlook

  1. India’s seaweed farming sector, currently valued at ₹200 crore (US$ 23.02 million), is projected to grow to ₹3,277 crore (US$ 377.19 million) over the next decade, potentially benefiting 1.6 million people.
  2. India’s alcoholic beverages industry has significant untapped potential in global markets, with exports expected to rise from ₹3,162.21 crore (US$ 370.5 million) to ₹8,535 crore (US$ 1 billion) by 2030, driven by growing international recognition of products like gin, beer, wine, and rum.
  3. Changing consumer preferences, including increased snacking, on-the-go eating, healthier alternatives, ready-to-eat meals, and organic foods, are creating new opportunities in the domestic and international processed food markets.

How To Apply for the Rukmani Devi Garg Agro Impex IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Rukmani Devi Garg Agro Impex IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of Rukmani Devi Garg Agro Impex IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Rukmani Devi Garg Agro Impex Limited

Registered office: Plot No. 7, Bhamashah Mandi Anantpura, Kota, Rajasthan - 324005, India.

Phone: +91 7891517187

E-mail: info@rdgagro.com

Rukmani Devi Garg Agro Impex IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the Net Issue

Retail Shares Offered

Not less than 35% of the Net Issue

NII Shares Offered

Not less than 15% of the Net Issue

Rukmani Devi Garg Agro Impex IPO Lot Size Details

Application

Lots

Shares

Amount

Individual investors (Retail) (Min)

2

2,400

₹2,37,600

Individual investors (Retail) (Max)

2

2,400

₹2,37,600

HNI (Min)

3

3,600

₹3,56,400

Rukmani Devi Garg Agro Impex IPO Promoter Holding

Mr. Vishal Garg, Mrs. Anju Garg, and RDG Capital Private Limited are the promoters of the company

Share Holding Pre-Issue

100%

Share Holding Post Issue&nbsp

73.22%

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Key Performance Indicators for Rukmani Devi Garg Agro Impex IPO

KPI

Value

RoCE (%)

15.61

Debt/Equity&nbsp

1.52

RoNW (%)

20.18

PAT Margin (%)

2.32

EBITDA Margin (%)

3.87

Rukmani Devi Garg Agro Impex IPO Prospectus

Rukmani Devi Garg Agro Impex IPO Registrar and Lead Managers

Rukmani Devi Garg Agro Impex IPO Lead Managers

  • Fedex Securities Pvt Ltd

Registrar for Rukmani Devi Garg Agro Impex IPO

Bigshare Services Pvt Ltd

Financial Performance of Rukmani Devi Garg Agro Impex Limited

Particulars As of March 31, 2025 As of March 31, 2024 As of March 31, 2023
Revenue from Operations (₹ lakh) 32,699.50 24,437.53 24,805.19
Net Worth (₹ lakh) 3,242.73 2,485.65 1,983.93
EBITDA (₹ lakh) 1,263.91 817.24 308.01
Net Profit / Loss After Tax (₹ lakh) 757.07 501.72 47.39
PAT Margin (%) 2.32 2.05 0.19
Return on Equity (RoE) (%) 23.35 20.18 2.39

Know before investing

Strengths

8

  1. The company serves clients across corporates, flour mills, oil mills, exporters, and agricultural processors. Its distributor and dealer network ensures wide market reach.

  2. With over 500 kaccha aadtiya/agents in Rajasthan and Madhya Pradesh, the company procures quality produce directly from farmers. This ensures competitive pricing and supply stability.

  3. It owns three warehouses with 16,500 MT capacity, 3,500 MT at the processing unit, and leases 20,000 MT as needed. These support large-scale procurement and maintain food safety.

  4. Processing units in Kota, Rajasthan, are near major mandis, enabling cost-efficient procurement and transport. The units have 200 MT/day capacity with automated grading, sorting, and packaging.

  5. The company holds ISO 9001, ISO 22000, ISO 45001, and HACCP certifications to ensure quality across operations. This focus builds customer trust and long-term loyalty.

  6. Led by Chairman and MD Vishal Garg, the company has strong promoter support and experienced management. The team brings expertise in finance, production, sales, and marketing.

  7. The company plans to expand its procurement network and engage more farmers and agents. It also aims to grow branded wheat sales in additional states.

  8. Branded products like “Sharbati,” “HappyFamily,” and “Taj Mahal” now contribute nearly 30% of revenue. This creates opportunities in both premium and economy segments.

Risks

8

  1. The company’s revenue relies heavily on trading agricultural commodities sourced from third-party suppliers. Any supply disruption or delivery delay can affect operations and profitability.

  2. Agricultural commodity prices are highly volatile and influenced by weather, crop yields, government policies, and global supply-demand. This volatility can impact margins.

  3. Changes in government regulations, such as import/export restrictions or minimum support prices, can affect procurement costs and overall profitability.

  4. The business experiences seasonal variations, causing revenue and sales volumes to fluctuate between quarters, making financial performance unpredictable.

  5. Adverse weather conditions like droughts, floods, or natural disasters can reduce crop production and commodity availability, directly affecting revenue.

  6. Forecasting errors or cancellations of customer orders may lead to surplus stock that cannot be sold timely, impacting cash flows and profitability.

  7. A large portion of revenue depends on a few major customers; for instance, the top 10 contributed over 59% of FY25 revenue. Loss of key clients could materially affect the business.

  8. The company requires various statutory and regulatory approvals for operations. Delays or inability to obtain/renew permits may adversely affect financial results.

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Rukmani Devi Garg Agro Impex Limited Peer Comparison

Company Basic EPS (₹) P/E Ratio Return on Net Worth (%)
Rukmani Devi Garg Agro Impex Limited 7.72 NA 20.18
NHC Foods Limited 1.98 2.37 8.45
Neelkanth Limited (Formerly RT Exports Limited) 0.69 34.11 3.14

Rukmani Devi Garg Agro Impex IPO FAQs

What is the Rukmani Devi Garg Agro Impex IPO? 

Rukmani Devi Garg Agro Impex IPO is a book build issue IPO. It runs from September 26, 2025, to September 30, 2025. 

When will the Rukmani Devi Garg Agro Impex IPO be allotted? 

The Basis of Allotment will happen on Wednesday, October 1, 2025.  

When will the Rukmani Devi Garg Agro Impex IPO open for subscription? 

The IPO subscription window will open on September 26, 2025. 

What minimum lot size can retail investors subscribe to? 

The minimum lot size retail investors can subscribe to is 2 lots, and the lot size is 1200 shares. 

When will the Rukmani Devi Garg Agro Impex IPO list on exchanges? 

The listing date for Rukmani Devi Garg Agro Impex IPO is Monday, October 6, 2025. 

What is the issue size of the Rukmani Devi Garg Agro Impex IPO? 

The issue size of the Rukmani Devi Garg Agro Impex IPO is ₹23.52 crore. 

What are the open and close dates of the Rukmani Devi Garg Agro Impex IPO? 

The open and close dates for Rukmani Devi Garg Agro Impex IPO are from September 26, 2025, to September 30, 2025. 

What would be the listing gains on the Rukmani Devi Garg Agro Impex IPO? 

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

What is 'pre-apply' for the Rukmani Devi Garg Agro Impex IPO? 

Pre-apply allows investors to apply for the Rukmani Devi Garg Agro Impex IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the Rukmani Devi Garg Agro Impex IPO, when will my order get placed? 

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours. 

When will I know if my Rukmani Devi Garg Agro Impex IPO order is placed? 

You will receive a notification once your order is successfully placed with the exchange after the bidding starts. 

Who is the registrar of Rukmani Devi Garg Agro Impex IPO? 

Bigshare Services Pvt Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the Rukmani Devi Garg Agro Impex IPO getting listed? 

The Rukmani Devi Garg Agro Impex IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE). 

How to increase your chances of getting a Rukmani Devi Garg Agro Impex IPO allotment? 

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

 

How do I approve the UPI mandate request for the Rukmani Devi Garg Agro Impex IPO? 

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Rukmani Devi Garg Agro Impex IPO using one PAN? 

You can submit only one application using your PAN card. 

How to read Rukmani Devi Garg Agro Impex Limited's financial statements? 

To read Rukmani Devi Garg Agro Impex Limited’s financial statements, download the IPO’s RHP document.