Solvex Edibles
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 01 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹72 | ₹0 |
| 30 Sept 2025 | ₹0 | 0.00% | ₹0 | ₹72 | ₹0 |
| 29 Sept 2025 | ₹0 | 0.00% | ₹0 | ₹72 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 22 Sept 2025 – 26 Sept 2025
- Listing date
- 01 Oct 2025
- Face value
- ₹1 per share
- Issue price
- ₹72 per share
- Lot size
- 1,600 shares
- Issue type
- Fixed Price issue
- Listing at
- BSE
- Total issue size
- ₹18.87 Cr
- Market cap at offer price
- ₹64.45 Cr
- Promoter holding
- 100.00% → 70.72% pre-issue → post-issue
- ISIN
- INE1IIQ01028
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Corporate Makers Capital Ltd.
- Registered office
- Kemri Road, Rampur, Uttar Pradesh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,31,200 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹72
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,15,200 |
| S-HNI (min) | 2 | 3,200 | ₹2,30,400 |
| S-HNI (max) | 8 | 12,800 | ₹9,21,600 |
| B-HNI (min) | 9 | 14,400 | ₹10,36,800 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹72 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.46 | 4.57 |
| P/E (×) | 11.15 | 15.75 |
| Price to book (×) | 2.56 | — |
| Market cap | — | ₹64.45 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 20.28%
- ROCE
- 24.51%
- PAT margin
- 3.02%
- EBITDA margin
- 8.26%
- NAV per share
- ₹30.96
- Price to book
- 2.56
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Solvex Edibles
Solvex Edibles Limited (formerly Solvex Edibles Private Limited) was incorporated on 23rd September 2013 under the Companies Act, 1956. The company is in the business of manufacturing, distribution, marketing and selling of solvent extracted rice bran oil and by-products such as de-oiled cakes (rice bran), mustard oil, mustard cakes, and de-oiled mustard cakes. The company also produces de-oiled rice bran (DORB), a by-product from rice bran oil extraction, which is sold as cattle feed, poultry feed, and fish feed. The company operates through a manufacturing facility in Kemri, Bilaspur, Uttar Pradesh with a capacity of 200 TPD, and has two wholly-owned subsidiaries: Shree Oils & Fats (I) Pvt. Ltd. (solvent extraction plant) and Golden Pearl Oil Products LLP (edible oil refinery). The company does not manufacture or market products under its own brands but supplies to FMCG companies across 18 states in India.
Company Analysis
from DRHPSolvex Edibles Limited manufactures and sells physically refined rice bran oil, de-oiled cakes, and other edible oil by-products to FMCG companies across India.
Solvex Edibles Limited (formerly Solvex Edibles Private Limited) was incorporated on 23rd September 2013 under the Companies Act, 1956. The company is in the business of manufacturing, distribution, marketing and selling of solvent extracted rice bran oil and by-products such as de-oiled cakes (rice bran), mustard oil, mustard cakes, and de-oiled mustard cakes. The company also produces de-oiled rice bran (DORB), a by-product from rice bran oil extraction, which is sold as cattle feed, poultry feed, and fish feed. The company operates through a manufacturing facility in Kemri, Bilaspur, Uttar Pradesh with a capacity of 200 TPD, and has two wholly-owned subsidiaries: Shree Oils & Fats (I) Pvt. Ltd. (solvent extraction plant) and Golden Pearl Oil Products LLP (edible oil refinery). The company does not manufacture or market products under its own brands but supplies to FMCG companies across 18 states in India.
Objects of the Issue
- To finance the Capital expenditure towards acquisition of new Plant and Machinery at existing plant of our Company Rs. 830.99 lakhs p.84
- Repayment in full or in part, of certain of our outstanding borrowings availed by our Company Rs. 500.00 lakhs p.84
- To meet General corporate purposes Not to exceed 15% of gross proceeds p.84
Issue Structure
- Total Issue
- Upto 26,50,000 Equity Shares at Rs. [●] per share aggregating Rs. [●] Lakhs
- Fresh Issue
- Upto 26,50,000 Equity Shares at Rs. [●] per share
- Offer for Sale
- Nil
- Price Band
- [●] (to be finalized)
- Lot Size
- [●] Equity Shares and in multiples thereof
- Face Value
- Rs. 10/- each
Business Model
The company generates revenue through the sale of solvent extracted rice bran oil, de-oiled rice bran (DORB), mustard oil, and other by-products to FMCG companies. For FY 2023-24, rice bran oil contributed 42.51% of revenue (Rs. 3030.20 lakhs on standalone basis), while de-oiled rice bran contributed 56.88% (Rs. 4054.03 lakhs). The company sources rice bran locally from rice mills near its manufacturing facilities and uses solvent extraction and physical refining processes to produce finished products. The business model relies on B2B relationships with FMCG customers rather than direct consumer sales.
Business Segments
SWOT Analysis
- • Extensive product portfolio with differentiated offerings(p.118)
- • Strategic location enabling efficient distribution across states(p.118)
- • Easy access to abundant and competitively-priced raw materials(p.118)
- • Experienced promoters and senior management in edible oil industry(p.118)
- • Significant customer concentration risk with top 10 customers contributing 58.29% of revenue(p.30)
- • High dependence on Rice Bran Oil sales for significant revenue portion(p.31)
- • Over 84% of revenue concentrated in single state of Uttar Pradesh(p.120)
- • Experienced negative cash flows in certain financial years(p.34)
- • High inventory levels creating storage and working capital risks(p.48)
- • Multiple instances of late filing of statutory forms and compliance delays(p.44)
- • Expansion of customer base geographically and demographically(p.119)
- • Deeper penetration in existing markets and geographic expansion(p.119)
- • Capacity expansion through new plant and machinery acquisition(p.90)
- • Growing domestic demand for edible oils with India's self-sufficiency at 43%(p.109)
- • Increasing focus on quality standards and operational efficiency(p.119)
- • Reduction in demand from consumers of De-Oiled Rice Bran affecting 51-75% of revenue(p.34)
- • Volatility and fluctuations in commodity prices affecting profitability(p.35)
- • Absence of long-term supply agreements with raw material suppliers(p.35)
- • Increased competition from larger FMCG companies with greater resources(p.39)
- • Regulatory changes and increasing compliance burden from evolving environmental laws(p.40)
- • Dependence on power supply which is subject to disruptions(p.33)
- • Adverse weather patterns affecting raw material availability and prices(p.38)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Ashish Goel | Promoter | 29.56% | — |
| Mr. Vishal Goel | Promoter | 29.68% | — |
| Mrs. Rashika Gupta | Promoter | 37.07% | — |
| Mr. Brij Bhushan Goel | Promoter | 2.26% | — |
| Mr. Rohit Gupta | Promoter Group | 1.42% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.