Vegetable seller eyes 28cr via SME IPO on BSE

Mumbai: Stanbik Agro, an Ahmedabad-based vegetable seller is tapping the market to raise about Rs 28 crore through BSE’s SME platform, eyeing a market capitalisation of Rs 40 crore, and market players and social media are abuzz with this offer. The company is looking to raise Rs 12.3 crore by offloading 41 lakh shares at a price of Rs 30/share. The IPO is attracting interest on social media and among market players just like Resourceful Auto, a two-showroom two-wheeler dealer in Delhi that hit BSE’s SME platform in Aug 2024 to raise Rs 12 crore. That stock, which was offered at Rs 117/share in the IPO, is currently trading at less than half the value, at Rs 53 on BSE’s SME platform.Stanbik’s IPO opened on Dec 12 and is set to close on Dec 16, the offer details on BSE showed. On the first day of the IPO, 5% of the offer was subscribed. The stock is expected to be listed on Dec 19.The offer is being managed by Grow House Wealth Management and MnM Stock Broking is the market maker for the stock.Stanbik Agro’ financials, as per the offer document showed that during FY24, it had shown a decent 33% jump in revenues to Rs 26.6 crore. However, its revenues nearly doubled to Rs 52.5 crore in FY25, the year before it filed for the IPO. The numbers were restated before filing the offer document with BSE.The company’s net profit for fiscal years 2023, 2024 and 2025 showed strong growth: From Rs 1 crore to Rs 1.85 crore to Rs 3.7 crore, respectively.