IPO Alert: SSMD Agrotech India to Open for Subscription on November 24

SSMD Agrotech India, a Delhi-based agro-food manufacturer operating under the House of Manohar brand, is set to launch its initial public offering on November 24. The public issue, closing on November 26, consists of 28.17 lakh shares and aims to raise ₹33.8 crore at the upper price band. The allotment is scheduled to be finalised on November 27, followed by the listing on the BSE SME platform on December 1. 

Offer Structure and Fund Utilisation 

The IPO is priced between ₹114 - ₹120 per share. SSMD Agrotech India plans to utilise ₹13.1 crore towards working capital and ₹6.83 crore for repayment of borrowings. A further ₹2.03 crore is allocated for establishing new D2C dark store factories, while ₹0.96 crore is earmarked for machinery required to set up a Namkeen manufacturing plant.  

The balance will be used for general corporate purposes. The company currently operates three manufacturing units and distributes its products across northern and central India. 

Operations, D2C Expansion and Financial Performance 

House of Manohar adopted a direct-to-consumer model in February 2025 and launched its first D2C Dark Store Factory offering fresh essentials such as flour, oil, pulses, spices, rice and besan with a 10-minute delivery window.  

For the 6 months ended September 2025, SSMD Agrotech India reported a profit of ₹3.8 crore on revenue of ₹52.1 crore. In the financial year ended March 2025, it recorded a profit of ₹5.4 crore on revenue of ₹99.2 crore. 3Dimension Capital Services is acting as the sole merchant banker for the offering. 

Read More: Amazon-Backed More Retail Taps Banks for $300 Million India IPO! 

Conclusion 

The upcoming IPO provides SSMD Agrotech India with capital for expansion across manufacturing, D2C infrastructure and working capital needs. The company’s listing on the BSE SME is scheduled for 1 December. 

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