Peshwa Wheat IPO Sees Record Subscription on Day One Amid Global Wheat Price Volatility
Peshwa Wheat Limited's Initial Public Offering (IPO) opened for subscription on September 24, 2026, and closed on September 28, 2026. The issue size is Rs. 53.52 crore, consisting entirely of a fresh issue of 52.99 lakh equity shares of face value Rs. 10 each.
The company's primary focus is on expanding its capacity by adding roughly 46,500 MTPA of new production lines, taking the total installed capacity to around 1,02,600 MTPA, an increase of about 83%. The proceeds from the issue will be used for plant and machinery, civil construction, working capital, and general corporate purposes.
As of day one, the QIB portion has been the standout number by a wide margin. Against just 49,200 shares reserved for Qualified Institutional Buyers, the company received bids for roughly 87.14 lakh shares, a subscription of 177 times that category alone, worth close to Rs. 88 crore in institutional bids within hours of the book opening.
Peshwa Wheat runs a flour-processing operation out of Indore, Madhya Pradesh, producing Atta, Sortex Wheat, Broken Wheat, Gram Flour and Maize Flour, largely sold in bulk 50 kg and 30 kg packaging to the B2B trade across Madhya Pradesh, Maharashtra, Karnataka and Gujarat. The company's raw material sourcing is domestic, concentrated in Madhya Pradesh, which insulates it somewhat from Black Sea disruption directly.
The valuation gives some room for error on entry. Whether that room is enough will depend less on how the QIB book closes out over the next three days and more on how cleanly the company converts its new capacity into the same utilisation curve it's already shown with its existing plant.