Green Asia Impex IPO: Allotment Status, GMP, Listing Date and Review

Green Asia Impex buys, processes and exports frozen shrimp and dried chillies from Andhra Pradesh. With ₹389 crore in revenue it is one of the larger SME issuers this week, and at about 12 times post-issue earnings it is one of the cheapest. Yet investors largely stayed away: the ₹59.34 crore issue, open for six days, was subscribed just 1.04 times, and retail investors bid for only 56% of their quota.

Because 2 October was a holiday, allotment is due on Monday 5 October and shares list on NSE SME on 7 October. The grey market premium is flat at zero.

Green Asia Impex IPO at a glance

Retail bid only 0.56 times its quota, so every valid retail application should receive the full two lots applied for.

What Green Asia Impex actually does

Green Asia Impex Ltd was incorporated in 2014 and is promoted by Pasupuleti Venkata Ramarao and Pasupuleti Meenakshi. It sources, processes and exports frozen shrimp, including Vannamei, Black Tiger and freshwater varieties, and dried Indian chillies such as Teja, Guntur Sannam and Bydagi.

Customers are importers, distributors and food processors in India and abroad. The company is based in Unguturu, Andhra Pradesh, the heart of India’s aquaculture belt, and had 136 permanent employees in August 2026.

Most of the fresh issue, ₹40.03 crore, will build the company’s own seafood processing facility.

The numbers behind the business

Here are the figures from the offer documents, in ₹ crore, as reported by IPO data sites.

What these numbers tell us, in plain language:

• Revenue is growing steadily. Revenue rose from ₹318 crore in FY24 to ₹340 crore in FY25 and ₹389 crore in FY26. Profit grew from ₹6.7 crore to ₹15.6 crore.
• Margins are thin. EBITDA margin was about 6.5% and net margin about 4% in FY26, typical of commodity export trading.
• Debt is very high. Borrowings rose to ₹99.5 crore against net worth of just ₹24.1 crore. Net worth actually fell slightly in FY26 despite a ₹15.6 crore profit, which investors should check in the RHP.
• Cheap on earnings, expensive on book. Post-issue P/E is about 12.3x, but price to book is about 6.5x.

How the subscription ended

By the close on 1 October, after six days of bidding, QIBs had bid 2.06 times, big HNIs 0.73 times, small HNIs 0.47 times and retail 0.56 times, for 1.04 times overall across just 490 applications.

The GMP story so far

The grey market premium was flat at ₹0 as of 4 October, pointing to a listing near the ₹89 issue price, with some risk of a weaker start given the thin demand.

How to check Green Asia Impex IPO allotment status

1. Go to the Bigshare Services IPO allotment page, or the NSE allotment status page.
2. Select Green Asia Impex from the list of issues.
3. Enter your PAN, application number or DP/Client ID.
4. Submit to see how many shares you were allotted.

Allotment is expected on Monday 5 October 2026, once the registrar finalises the basis of allotment with the exchange. Refunds and demat credits follow on 6 October, and shares list on NSE SME on 7 October.

The listing outlook

With weak demand and no grey market premium, a flat to soft listing looks likely.

What to weigh before you apply

Commodity exports are volatile

Shrimp and chilli prices swing with global supply, weather and disease. Key export markets have also used tariffs and anti-dumping duties on Indian seafood in the past, which can cut margins overnight.

A stretched balance sheet

With debt about four times equity before the IPO, the company has little room for a bad season. The new plant adds capacity but also execution risk.

Strengths and risks

Strengths

• Revenue of ₹389 crore, growing every year
• Profit more than doubled in two years
• Post-issue P/E of about 12.3x
• Located in Andhra Pradesh’s aquaculture hub
• IPO funds its own processing facility

Risks

• Borrowings of ₹99.5 crore, about four times net worth
• Net margin of about 4%
• Very weak demand: retail 0.56x and NII 0.65x
• Exposure to export tariffs, anti-dumping duties and commodity prices
• Promoters selling ₹6.88 crore through the OFS

Your chances of getting an allotment

• Retail investors bid only 0.56 times their quota, so all valid retail applications should be allotted in full when the basis of allotment is finalised on 5 October.
• Both NII portions were undersubscribed as well, so all valid NII bids should also be allotted.

What to watch from here

• Allotment on 5 October through Bigshare Services
• Listing price on 7 October against ₹89
• Progress on the new seafood processing plant
• Shrimp prices and export tariffs in key markets

Green Asia Impex IPO: frequently asked questions

Disclaimer: This article is for information and education only and is not investment advice. GMP is unofficial and data may differ between sources. Read the RHP and consult a SEBI-registered adviser before investing. Data as of 4 October 2026.