Green Asia Impex
What they do: The company operates in the processing and export of marine food products and trading of agricultural commodities. It focuses on shrimp and chillies, leveraging its expertise in these areas to drive revenue growth.
By IPO Milega Research · Published
Green Asia Impex Limited shows a strong revenue growth with a 3-year CAGR of 10.1%.
- GMP (unofficial)
- +0%
- ₹0 a share
- Subscribed
- 0.52x
- Total
- Retail odds
- 100%
- 1 in 1
GMP is an unofficial grey market indication.
- Price band
- ₹85-90
- Lot size
- 3200 shares
- Min. investment
- ₹2,88,000
- Issue size
- 60.10 Cr.
- Open24 Sept 2026
- Close28 Sept 2026
- Allotment29 Sept 2026
- Listing1 Oct 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 1.47x
- NII
- 0.02x
- Retail
- 0.22x
₹90 (+0.00%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials7.0
- Performance7.0
- Flexibility7.0
- Timing7.0
- Risk5.0
The Grey Market Premium (GMP) is 90, indicating no premium over the issue price, suggesting limited immediate listing gains. The company's strong revenue growth and profitability are offset by high leverage and liquidity challenges, which may affect investor sentiment.
Strengths3
- Achieved a 13.68% revenue growth in Fiscal 2026.
- Improved PAT margin to 4.07% in Fiscal 2026.
- Reduced debt-equity ratio from 2.90 to 2.40.
Concerns5
- Revenue dependency on China exposes company to economic and regulatory risks.
- Delays in seafood processing facility could impact project timelines and costs.
- Reliance on a limited number of large customers for revenue.
- Biosecurity risks in shrimp farming.
- Significant contingent liabilities from income tax demands.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,88,0002 lots, 3200 shares
- Retail Maximum2,88,0002 lots, 3200 shares
- S-HNI Minimum4,32,0003 lots, 4800 shares
- S-HNI Maximum8,64,0006 lots, 9600 shares
- B-HNI Minimum10,08,0007 lots, 11200 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3200 | 2,88,000 |
| Retail Maximum | 2 | 3200 | 2,88,000 |
| S-HNI Minimum | 3 | 4800 | 4,32,000 |
| S-HNI Maximum | 6 | 9600 | 8,64,000 |
| B-HNI Minimum | 7 | 11200 | 10,08,000 |
Timing
7.0/10The timing of the IPO seems favorable given the structured approach and full underwriting. The presence of a market maker and adherence to SEBI regulations suggest a well-prepared entry into the market. However, the lack of specific market conditions or economic indicators in the provided text limits a comprehensive assessment.
- Time to market
- The IPO is fully underwritten and includes a market maker, indicating readiness and confidence in the market. The structured book building process and compliance with SEBI regulations further support a positive timing assessment.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Favourable
- Time to market
- 8.0
- Listing on
- NSE SME
Key milestones
- 24 Sept 2026IPO Opens
- 28 Sept 2026IPO Closes
- 29 Sept 2026Basis of Allotment
- 30 Sept 2026Refunds Initiated
- 30 Sept 2026Credit to Demat Account
- 1 Oct 2026Listing Date
Financials
7.0/10- Revenue
- ₹389 Cr
- +14.4%
- Profit after tax
- ₹15.61 Cr
- +50.8%
- Net margin
- 4.0%
- +1.0 pts
- Assets
- ₹255 Cr
- +43.2%
- Return on equity
- 37.7%
- Debt to equity
- 2.43
- Current ratio
- 1.16
- Revenue CAGR
- 10.1%
- ROCE
- 19.69%
- Return on net worth
- 46.43%
- NAV per share (₹)
- 28.01
Financial performance trend
Amount ₹ in croresGreen Asia Impex Limited shows a strong revenue growth with a 3-year CAGR of 10.1%. The company has a healthy profit margin of 4.0% and a consistent profit trend. However, the high debt-to-equity ratio of 2.43 indicates significant leverage, which could pose a risk if not managed properly. The current ratio of 1.16 suggests adequate short-term liquidity, but the quick ratio of 0.58 indicates potential liquidity issues when inventory is excluded. Overall, the company demonstrates solid growth and profitability, but its high leverage requires careful monitoring.
Risk
5.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks2
- Market risks1
- Operational risks3
- Regulatory risks1
Significant revenue dependency on China and operational risks pose moderate risk. Mitigations include compliance improvements and diversified customer base.
How the company offsets these
Implemented compliance tracking and personnel appointments to reduce statutory delays.
Financial risks2
- Significant contingent liabilities from income tax demands.
- Delays in statutory dues payments could lead to penalties.
Market risks1
- Revenue dependency on China exposes company to economic and regulatory risks.
Operational risks3
- Delays in seafood processing facility could impact project timelines and costs.
- Reliance on a limited number of large customers for revenue.
- Biosecurity risks in shrimp farming.
Regulatory risks1
- Dependency on regulatory approvals for operations.
Performance
7.0/10Green Asia Impex Limited, a seafood exporter, has shown consistent revenue growth and profitability, driven by its shrimp business. The company is expanding its processing capacity, indicating future growth potential. However, it faces liquidity challenges due to rising trade receivables and negative cash flow.
- Historical growth
- The company has demonstrated consistent revenue growth, with a 13.68% increase in Fiscal 2026., 13.68% year-on-year revenue growth in Fiscal 2026.
- Market comparison
- The company faces competition from larger, integrated players in the seafood industry, which may impact its market position.
- Future potential
- The expansion of shrimp processing capacity suggests significant growth potential by Fiscal 2029.
- Operational consistency
- While revenue growth is stable, the increase in trade receivables and negative cash flow indicate potential operational challenges.
- Experience
- The management team, led by Pasupuleti Venkata Ramarao and Pasupuleti Meenakshi, has stable leadership with no changes in control over the past five years.
- Track record
- No history of defaults or fraudulent activities by the promoters.
Key achievements
- 01Achieved a 13.68% revenue growth in Fiscal 2026.
- 02Improved PAT margin to 4.07% in Fiscal 2026.
- 03Reduced debt-equity ratio from 2.90 to 2.40.
Flexibility
7.0/10The company has a strong presence in both domestic and international markets, exporting to multiple countries and maintaining long-standing customer relationships. It actively participates in global exhibitions to expand its market reach.
The company has demonstrated operational agility by setting up its own processing facility and planning further expansion to increase capacity. It efficiently manages seasonal variations in raw material availability through diversified procurement and processing activities.
Green Asia Impex Limited demonstrates moderate flexibility and adaptability, with strengths in market adaptability and operational agility, but faces challenges in financial stability and product diversification.
- Product diversification
- The company primarily focuses on two product categories: shrimps and dried chillies, with shrimps contributing over 87% of total revenue. This indicates limited product diversification.
- Future adaptability
- The planned expansion of processing capacity and introduction of value-added shrimp products indicate potential for future adaptability to market demands.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.