Green Asia Impex IPO Review: Key Details, Company Overview and Financials

The Green Asia Impex IPO is a bookbuilding issue of Rs 60.10 crore, comprising a fresh issue of shares worth Rs 53.10 crore and an offer for sale of 7,14,000 equity shares worth around Rs 7 crore. The IPO will open for subscription on 24 September 2026 and close on 28 September 2026. The allotment is expected to be finalised on 29 September 2026, while the shares are proposed to list on the SME platform of NSE around 1 October 2026.

The Green Asia Impex IPO price band is set at Rs 85 to Rs 90 per share, with a lot size of 3,200 shares. Individual investors must apply for a minimum of 3,200 shares, requiring an investment of Rs 2,88,000 at the upper price band.

Indorient Financial Services Ltd. is the book-running lead manager for the Green Asia Impex IPO, while Bigshare Services Pvt. Ltd. is the registrar to the issue.

For detailed information on the company's business, financials, risk factors and the proposed utilisation of proceeds, investors should refer to the Green Asia Impex IPO Red Herring Prospectus (RHP) before making an investment decision.

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Company Overview

Founded in August 2014 and converted to a public limited company in September 2025, Green Asia Impex Limited is engaged in the sourcing, processing, manufacturing and export of frozen seafood and agri-commodities, with a primary focus on frozen shrimp and dried chillies. The company operates a semi-automated shrimp processing facility located in Unguturu, Andhra Pradesh, spanning approximately 1,838.76 square metres, with an installed capacity of 7,200 metric tonnes per annum (MTPA) for block freezing and 3,600 MTPA for IQF (individually quick frozen) processing.

To expand its operational capabilities, the company is developing a new facility at Chennayagudem, Andhra Pradesh, spanning approximately 4,955.69 square metres, expected to add around 16,200 MTPA of processing capacity and strengthen its scale and export potential. As of 31 January 2026, Green Asia Impex had a workforce of 125 permanent employees supporting its operations.

Read on for the complete Green Asia Impex IPO details, including price band, lot size, listing timeline and the company's financial track record.

IPO Details

Particulars	Details
IPO Date	24 to 28 September 2026
Allotment	Tue, 29 September 2026
Listing Date	Thu, 1 October 2026 (tentative)
Face Value	Rs 10 per share
Price Band	Rs 85 to Rs 90
Lot Size	3,200 Shares
Issue Type	Bookbuilding IPO
Sale Type	Fresh Issue cum Offer for Sale
Total Issue Size	Aggregating up to Rs 60.10 Cr
Fresh Issue	Aggregating up to Rs 53.10 Cr
Offer for Sale	7,14,000 shares (agg. up to Rs 7.00 Cr)
Listing Exchange	NSE SME

(Compiled from the RHP/DRHP and market updates)

Industry Context

• India is one of the world's largest exporters of frozen shrimp, with Andhra Pradesh being a major hub for shrimp farming and processing due to its favourable coastal geography and established aquaculture ecosystem.
• Export demand for Indian frozen shrimp depends on international seafood consumption trends, quality certifications, and price competitiveness against other major shrimp-exporting countries.
• Dried chillies represent an established Indian agri-export category, with India being a leading global producer and exporter of chilli products to markets across Asia and beyond.
• Semi-automated and IQF (individually quick frozen) processing technologies help seafood processors maintain product quality and extend shelf life, supporting export competitiveness in international markets.
• The seafood processing and export industry is exposed to raw material price volatility, disease outbreaks in shrimp farming, and international trade policy, including anti-dumping duties and import regulations in key export markets.

Business Strengths

Here are the key strengths investors evaluating the Green Asia Impex IPO should weigh:

• An established processing and export business in frozen shrimp and dried chillies, backed by a semi-automated facility with both block freezing and IQF processing capabilities.
• Strong recent financial growth, with revenue up around 14.4 percent to Rs 388.63 crore and profit after tax up around 50.8 percent to Rs 15.61 crore in FY26.
• A significant capacity expansion underway through the new Chennayagudem facility, expected to add around 16,200 MTPA of processing capacity.
• Positioning within India's established seafood export ecosystem, benefiting from the country's position as a leading global shrimp exporter.

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Business Risks

Alongside these strengths, the Green Asia Impex IPO also carries the following business risks:

• The seafood export business is exposed to raw material price volatility, disease outbreaks in shrimp farming, and international trade policy risks, including potential anti-dumping duties in key export markets.
• The Rs 7 crore offer for sale will not benefit the company, and the ongoing capacity expansion at the new Chennayagudem facility carries execution risk.
• Operations remain concentrated in Andhra Pradesh, creating geographic concentration risk for the business.
• As with any SME stock, Green Asia Impex shares may see limited post-listing liquidity and price volatility.

Financial Performance

The Green Asia Impex IPO comes after a period of strong financial growth. The company's revenue increased by around 14.4 percent and profit after tax rose by around 50.8 percent between the year ended 31 March 2025 and 31 March 2026.

Green Asia Impex Ltd. – Financials (Rs in Lakh)

Particulars	Fiscal 2026	Fiscal 2025
Revenue	38,863.00	33,965.00
Profit After Tax (PAT)	1,561.00	1,035.00
PAT Margin (%)	4.02% (computed)	3.05% (computed)

Amounts in Rs Lakh unless stated otherwise, compiled from published Green Asia Impex IPO financial disclosures. PAT margin figures are computed from disclosed absolute figures. EBITDA, net worth and total borrowings were not separately available in the sources used for this review; investors should refer to the RHP for the complete restated financial statements.

Key Ratios and Metrics

The table below summarises what is currently known about the Green Asia Impex IPO's financial profile as of the latest reported period.

These ratios offer a quick snapshot of how the Green Asia Impex IPO is priced relative to the company's profitability and net worth.

KPI (Mar 31, 2026)	Value
PAT Margin (FY26)	4.02%
Revenue Growth (FY25 to FY26)	~14.4%
PAT Growth (FY25 to FY26)	~50.8%
Planned Additional Capacity (Chennayagudem)	~16,200 MTPA

Objects of the Offer

The company proposes to utilise the net proceeds from the Green Asia Impex IPO towards the following objects.

• Funding capital expenditure for setting up the proposed seafood processing facility, including purchase and installation of plant, machinery and equipment
• General corporate purposes

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Conclusion

Here is the bottom line on the Green Asia Impex IPO.

The Green Asia Impex IPO reflects an established frozen seafood and agri-commodity processor and exporter with strong recent financial growth and a significant capacity expansion underway.

However, exposure to raw material and international trade policy risks, the offer for sale component, execution risk tied to the new facility, and geographic concentration in Andhra Pradesh are factors that could affect the investment case for the Green Asia Impex IPO.

Overall, investors weighing the Green Asia Impex IPO should evaluate the company's business model, financial performance, industry outlook, competitive positioning, valuation and risk factors in detail, and carefully review the Red Herring Prospectus (RHP) before making an informed investment decision.

Univest does not publish grey market premium figures. Grey market premium is an unofficial and unregulated indicator collected informally outside the stock exchanges. It is not published, verified or endorsed by SEBI, NSE or BSE, can vary widely between trackers, and is not always accurate.

FAQs

What are the Green Asia Impex IPO dates, and when will it list?

Ans. The Green Asia Impex IPO opens for subscription on 24 September 2026 and closes on 28 September 2026. The allotment is expected to be finalised on 29 September 2026, and the shares are tentatively scheduled to list on the SME platform of NSE around 1 October 2026.

What is the price band and minimum investment for the Green Asia Impex IPO?

Ans. The price band for the Green Asia Impex IPO is set at Rs 85 to Rs 90 per equity share, with a lot size of 3,200 shares. Individual investors must apply for a minimum of one lot, requiring an investment of Rs 2,88,000 at the upper price band.

What does Green Asia Impex Limited actually do?

Ans. Green Asia Impex sources, processes, manufactures and exports frozen seafood and agri-commodities, with a primary focus on frozen shrimp and dried chillies. The company operates a semi-automated processing facility in Unguturu, Andhra Pradesh, with an installed capacity of 7,200 MTPA for block freezing and 3,600 MTPA for IQF processing, and is developing a new facility at Chennayagudem expected to add around 16,200 MTPA of additional capacity.

Is the Green Asia Impex IPO a fresh issue or does it include an offer for sale?

Ans. The Green Asia Impex IPO combines a fresh issue of shares worth Rs 53.10 crore with an offer for sale of 7,14,000 equity shares worth around Rs 7 crore. This means the majority of the Rs 60.10 crore issue will bring in fresh capital for the company, while the offer for sale portion will go to the selling shareholder.

How will Green Asia Impex use the proceeds from its fresh issue?

Ans. The company plans to use the fresh issue proceeds primarily to fund capital expenditure for setting up its proposed new seafood processing facility, including the purchase and installation of plant, machinery and equipment. The remaining proceeds are earmarked for general corporate purposes.

What are the main risks or concerns flagged for the Green Asia Impex IPO?

Ans. The seafood export business is exposed to raw material price volatility, disease outbreaks in shrimp farming, and international trade policy risks, including potential anti-dumping duties in key export markets. The Rs 7 crore offer for sale will not benefit the company, and the ongoing capacity expansion at the new Chennayagudem facility carries execution risk, while operations remain concentrated in Andhra Pradesh, creating geographic concentration risk alongside typical SME liquidity considerations.

Who are the lead manager and registrar for the Green Asia Impex IPO?

Ans. Indorient Financial Services Ltd. is the book-running lead manager for the Green Asia Impex IPO, responsible for structuring and managing the offer process. Bigshare Services Pvt. Ltd. is the registrar to the issue and will handle the allotment process and crediting of shares to successful applicants' demat accounts.

What are the key strengths highlighted for the Green Asia Impex IPO?

Ans. Green Asia Impex has built an established processing and export business in frozen shrimp and dried chillies, backed by a semi-automated facility with both block freezing and IQF processing capabilities. The company delivered strong FY26 growth, with revenue up around 14.4 percent and profit after tax up around 50.8 percent, and its planned Chennayagudem facility expansion, adding around 16,200 MTPA of capacity, supports a visible growth trigger for the business.

Is the Green Asia Impex IPO a good investment?

Ans. Green Asia Impex offers exposure to an established seafood and agri-commodity processor and exporter with strong recent growth and a visible capacity expansion plan, which may interest investors comfortable with SME-scale export businesses. At the same time, exposure to raw material and trade policy risks, along with execution risk tied to the new facility, are factors that call for careful evaluation. As always, investors should study the RHP in detail and assess their own risk appetite before applying.