Green Asia Impex Limited
Green Asia Impex Limited (CIN U10209AP2014PLC094995) has filed a SEBI filings with SEBI for an IPO comprising a fresh issue of ₹53 Cr and an offer for sale of ₹7.0 Cr, priced at ₹84.00 to ₹89.00 per share. In FY26 it reported revenue of ₹384 Cr (+13.7% on FY25) and a net profit of ₹16 Cr. Promoters hold 92.0% before the IPO. Our earlier look-up of its claims found no medium or high concerns across 32 claims looked up.
Read from public SEBI filings; last updated . Not investment advice.
Key signals
Read from the filing. Signals summarise it; they are not a recommendation or investment advice.
- ValuationLooks fine12.2x P/EFrom NSE's price band, on FY26 profit; 4.6x book value.
- GrowthLook closer10% a yearSales FY24 to FY26; latest year +13.7%.p.69
- ProfitabilityLook closer4.1% net marginFY26; operating margin improving.p.69
- DebtConcern2.4x equity₹99.5 crore borrowed at the end of FY26.p.69
- Profit into cashConcern-40% of profitOperations brought in ₹-6.3 crore against ₹15.6 crore of profit in FY26.p.69
- One-off incomeLook closer23% of profitOther and one-off income is 23% of pre-tax profit; management describes 13 one-off items.p.339
- Where the money goesLooks fine12% for sale88% is new shares issued by the company.p.104
- Red flagsLooks fineNone serious32 claims looked up earlier: 0 high, 0 medium concern.
How we rate these
- Valuation: P/E at the top of the band: up to 25x good, up to 40x watch, above that concern.
- Growth: Sales growth per year: 20% or more good, 8% or more watch, below that concern.
- Profitability: Net profit margin: 10% or more good, 4% or more watch, below that concern. The trend note compares operating margin with the year before (1.5 points either way).
- Debt: Borrowings / net worth: up to 0.5x good, up to 1.5x watch, above that concern.
- Profit into cash: Cash from operations as a share of net profit: 80% or more good, 40% or more watch, below that (or negative) concern.
- One-off income: Other and one-off income as a share of pre-tax profit: up to 10% good, up to 30% watch, above that concern. Any one-off item management itself describes moves "good" to "watch".
- Where the money goes: Offer for sale as a share of the whole issue: under 40% good, under 75% watch, above that concern. In an offer for sale the money goes to the selling shareholders, not the company.
- Red flags: Earlier web look-ups of the filing's claims: any high-concern finding is concern, any medium is watch, otherwise good.
Rules are rules of thumb, not a verdict: a fast-growing business can reasonably carry a higher P/E, and some sectors run on debt.
The IPO
What Green Asia Impex Limited is offering, at what price, and who owns it today. Read from the Other; anything the company hasn't fixed yet shows as pending.
Bidding 24 Sep 2026 to 28 Sep 2026.
- Fresh issue
- ₹53 Cr
- Offer for sale
- ₹7.0 Cr
- Price band
- ₹84.00 – ₹89.00
- Final offer price
- ₹89.00
- Shares today
- 1.55 Cr
- Face value
- ₹10
- Listing on
- NSESME
- Bidding
- 24 Sep 2026 to 28 Sep 2026
Where the money goes
of a ₹53 Cr fresh issue
| Object | ₹ crore | % of issue |
|---|---|---|
| Other expected to be deployed from Internal Accruals post August | 0.31 | 0.6% |
| Capex seafood processing facility including purchase and installation of plant, machinery & equipment | 51 | 97% |
| General corporate General Corporate Purposes | Not fixed yet | n/a |
Amounts marked “not fixed yet” are left blank in the draft and are set once the price is decided. Source: page 104
Who owns it
As stated in the filing. The full shareholding table could not be cross-checked.
Valuation
| At the price band | Low end | High end |
|---|---|---|
| Price per share | ₹84.00 | ₹89.00 |
| Market cap after IPO | ₹183 Cr | ₹191 Cr |
| P/E (FY26 profit) | 11.72x | 12.22x |
| Price / book value | 4.42x | 4.60x |
| Price / sales | 0.48x | 0.50x |
Post-issue market cap divided by FY26 figures from the filing. A loss-making company has no P/E. Total issue size at the top of the band: ₹60 Cr. Price band is from NSE; not yet stated in this filing.
Bidding
Live category-by-category demand for Green Asia Impex Limited's IPO, from NSE's own bid-details page.
| Category | Reserved | Bid for | Subscribed |
|---|---|---|---|
| QIB | 0 | 39.07 lakh | 0.00x |
| NII (total) | 0 | 17.74 lakh | 0.00x |
| NII, over ₹10L bids | 0 | 14.27 lakh | 0.00x |
| NII, ₹2L–₹10L bids | 0 | 3.47 lakh | 0.00x |
| Total | 0 | 56.82 lakh | 0.00x |
From NSE's own bid-details page, as of 1 Oct 2026 -- a snapshot from when this was last checked, not live. Not part of the SEBI filing.
Financials
What Green Asia Impex Limited earned and how, read straight from its Other.
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Profit & loss | |||
| Sales | 317 | 338 | 384 |
| Sales growth | – | 6.4% | 13.7% |
| Operating profit | 19 | 21 | 31 |
| Operating margin | 5.9% | 6.3% | 8.1% |
| 0.76 | 2.0 | 4.8 | |
| Interest | 7.0 | 6.4 | 12 |
| Depreciation | 3.4 | 2.6 | 2.3 |
| Profit before tax | 9.0 | 14 | 21 |
| Profit before tax excl. other & one-off income | 8.3 | 12 | 16 |
| Other & one-off income as % of PBT | 8.5% | 14.1% | 23.0% |
| Tax rate | 26.2% | 28.1% | 25.8% |
| Net profit | 6.7 | 10 | 16 |
| Net margin | 2.1% | 3.1% | 4.1% |
| EPS (₹) | 4.50 | 7.00 | 10.56 |
| Balance sheet | |||
| Net worth | 15 | 26 | 41 |
| Borrowings | 64 | 75 | 99 |
| Total assets | 135 | 192 | 255 |
| Debt / equity | 4.12x | 2.90x | 2.40x |
| Return on equity | 43.1% | 40.1% | 37.7% |
| Cash flow | |||
| Cash from operations | -15 | -5.1 | -6.3 |
| Cash from investing | -1.1 | 0.48 | -6.2 |
| Cash from financing | 16 | 5.0 | 12 |
Non-recurring items
One-off items management describes in its own discussion of the results. They are real, but they do not come from day-to-day operations and may not repeat, so an analyst would set them aside when judging the recurring business.
- Other
Goodwill on consolidation of ₹107.17 lakhs was derecognised on the divestment.
p.339 - Other
A loss on sale of investment of ₹18.07 lakhs was recognised in Fiscal 2025.
p.339 - Other
Credit balances no longer required written back amounted to ₹202.30 lakhs in Fiscal 2026, compared to ₹3.36 lakhs in Fiscal 2025.
p.352 - Other
Debit balances were written off under other expenses amounting to ₹145.66 lakhs in Fiscal 2026, compared to ₹15.93 lakhs in Fiscal 2025.
p.352 - Other
Debit balances written off increased from ₹10.41 lakhs in Fiscal 2025 to ₹145.66 lakhs in Fiscal 2026, primarily comprising long-outstanding balances written off following a review of their recoverability.
p.354 - Other
Divestment of shareholding in erstwhile subsidiary resulted in the discontinuation of rental income of ₹44.07 lakhs and storage charges of ₹7.09 lakhs which had been recognised in Fiscal 2024.
p.357 - Other
Recognition of a loss on sale of investment of ₹18.07 lakhs and a reversal of goodwill on consolidation of ₹107.17 lakhs occurred in Fiscal 2025.
p.357 - Other
Provisions no longer required written back of ₹23.46 lakhs occurred in Fiscal 2025.
p.358 - Other
An insurance claim received of ₹2.81 lakhs occurred in Fiscal 2024.
p.358 - Other
A loss on the sale of investment of ₹18.07 lakhs was recognised in Fiscal 2025 on the divestment of the erstwhile subsidiary.
p.361 - Other
Debit balances written off of ₹10.41 lakhs were recognised in Fiscal 2025.
p.361 - Other
Debit balances written off of ₹10.41 lakhs and CSR expenses of ₹8.00 lakhs were recognised in Fiscal 2025, with no corresponding charges in Fiscal 2024.
p.361 - Other
Long outstanding debit balances were written off during Fiscal 2026, involving a write-off of ₹145.66 lakhs and recognition of a provision for doubtful debts of ₹2.30 lakhs.
p.365
How they earn
Where the revenue comes from. Each split adds up to the reported sales.
Reconciliation of Revenue from Products to Revenue from Operations
₹ crore · Source p.367| Segment | FY24 | FY25 | FY26 | Share of FY26 |
|---|---|---|---|---|
| Revenue from products | 307 | 329 | 374 | 97.5% |
| Other operating revenue | 7.2 | 8.1 | 8.9 | 2.3% |
| Revenue from services | 3.2 | 0.42 | 0.60 | 0.2% |
| Rental income | 0.44 | 0.00 | 0.00 | 0.0% |
Full statements
As printed in the filing's summary financial information, converted to ₹ crore.
| Line item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 317 | 338 | 384 |
| Other income | 0.76 | 2.0 | 4.8 |
| 318 | 340 | 389 | |
| Revenue | |||
| Finance Costs | 7.0 | 6.4 | 12 |
| Depreciation and amortisation Expense | 3.4 | 2.6 | 2.3 |
| 309 | 325 | 368 | |
| Expenses | |||
| Profit Before exceptional & extraordinary Items and tax | 9.0 | 14 | 21 |
| Exceptional Items | 0.00 | 0.00 | 0.00 |
| Profit Before extraordinary items and tax | 9.0 | 14 | 21 |
| Profit Before Tax | 9.0 | 14 | 21 |
| 2.4 | 4.0 | 5.4 | |
| Tax Expense | |||
| Profit for the year from continuing operations | 6.7 | 10 | 16 |
| Profit from discontinuing operations | 0.00 | 0.00 | 0.00 |
| Tax expense of discontinuing operations | 0.00 | 0.00 | 0.00 |
| Profit after Tax from Discontinuing operations | 0.00 | 0.00 | 0.00 |
| Profit after Tax for the year | 6.7 | 10 | 16 |
| Earnings per equity share of Rs. 10/- each (in Rs.) a) Basic | 4.50 | 7.00 | 10.56 |
| Diluted | 4.5 | 7.0 | 11 |
| Line item | FY24 | FY25 | FY26 |
|---|---|---|---|
| 15 | 26 | 41 | |
| Equity and Liabilities | |||
| Shareholders’ Funds | |||
| Long-Term Borrowings | 10 | 7.5 | 7.7 |
| 11 | 8.2 | 8.6 | |
| Non-Current Liabilities | |||
| Short-term borrowings | 53 | 67 | 92 |
| 0.00 | 0.22 | 0.06 | |
| Current liabilities | |||
| Trade payables | |||
| Total outstanding dues other than micro enterprise and small enterprise | 49 | 87 | 107 |
| 109 | 158 | 205 | |
| TOTAL EQUITY & LIABILITIES | 135 | 192 | 255 |
| Property, Plant and Equipment and Intangible Assets Property, Plant & Equipment | 14 | 12 | 15 |
| Goodwill on Consolidation | 1.1 | 0.00 | 0.00 |
| 17 | 14 | 18 | |
| Assets | |||
| Non-Current Assets | |||
| Inventories | 81 | 90 | 118 |
| Trade Receivables | 26 | 65 | 97 |
| Cash and cash equivalents | 0.50 | 0.92 | 0.53 |
| Bank Balances other than Cash and Cash Equivalents | 0.00 | 0.00 | 0.48 |
| 118 | 178 | 237 | |
| Current Assets | |||
| TOTAL ASSETS | 135 | 192 | 255 |
| Line item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Profit before tax | 9.0 | 14 | 21 |
| Loss on Sale of Investment | 0.00 | 0.18 | 0.00 |
| Profit on sale of Vehicle (6.73) Unrealised Foreign Exchange Gain | 0.00 | 0.00 | -0.41 |
| Operating profit before working capital changes | 20 | 24 | 35 |
| -15 | -5.1 | -6.3 | |
| Year Ended 31st | |||
| Year Ended 31st | |||
| Adjustments for : | |||
| Changes in working capital: | |||
| -1.1 | 0.48 | -6.2 | |
| Purchase of Fixed Deposits (13.11) | |||
| Government Subsidy received for Property, Plant and | |||
| Equipment | |||
| 16 | 5.0 | 12 | |
| Cash and cash equivalents at the beginning of the year | 0.65 | 0.50 | 0.92 |
| 0.50 | 0.92 | 0.53 | |
| Cash and cash equivalents of the subsidiary | |||
| company | |||
Discounted cash flow
What Green Asia Impex Limited's cash flow would be worth today. Change the rate, time period or growth to see how sensitive the answer is.
Starts from FY26 net profit of ₹16 Cr, grown 10% a year (based on revenue growth FY24–FY26, capped at 20%) and discounted at 11% a year, with no value counted beyond year 10. Per share uses the shares outstanding after the IPO at the top of the band. A simple illustration from the filing's numbers, not a forecast or investment advice; small changes to the rate or growth move the answer a lot.
The short version
Start here. The story in a few minutes, with every fact tied to the page it came from.
Here’s a detail about Green Asia Impex Limited that almost nobody notices: the company was officially incorporated back in August of 2014. That puts its founding squarely in the mid-2010s, which is a key piece of context when we look at its current market positioning.
Company Setup and Offer Process
Let's look at who was involved in the issuance process for this IPO. The Book Running Lead Manager for this offer was Indorient Financial Services Limited. They were the sole entity underwriting the entire process, which means they were responsible for ensuring the offer followed all the necessary guidelines.
Read more · 4 points, 4 supporting facts
Analyzing Financial Performance Trends
We need to look at how the company's core operations have been performing over the last three years. The revenue showed consistent growth, increasing by 10.0% annually from FY24 to FY26. Specifically, revenue grew from Rs. 317.4 crore in FY24 to Rs. 383.8 crore in FY26.
Read more · 3 points, 3 supporting facts
Litigation and Regulatory Clearances
When we look at the legal standing of Green Asia Impex Limited, the filing assures us there's been no major legal trouble. Specifically, the DRHP confirms there are no outstanding criminal proceedings filed against the company as of the filing date. This is a key assurance regarding its operational environment.
Read more · 3 points, 3 supporting facts
Promoter Control and Equity Stake
We need to look at who controls this company. The filing shows that the promoters collectively hold a significant majority before the IPO. Specifically, the promoters and the promoter group own 92.02% of the pre-offer equity shares.
Read more · 2 points, 3 supporting facts
Bottom line
So, to wrap this up, we've seen the whole picture: the structure of the offering, the financial trends showing that growth alongside some cash flow disconnects, the legal assurances, and the level of promoter control. That's the data the filing paints for you. What you make of all these numbers and disclosures is ultimately up to you.
Red flags from earlier look-ups
For this filing we looked up selected claims (promoters, court cases, subsidiaries) on the open web earlier. We no longer check what a filing says; SEBI reviews it.
- LowSubsidiary
Green Asia Impex Private Limited
90% confidenceWhat the filing saysThe company was originally incorporated as ‘Green Asia Impex Private Limited’ in the state of Andhra Pradesh.
What we foundSearch result [3] states that Green Asia Impex Limited was incorporated as Green Asia Impex Private Limited on August 5, 2014. Search result [5] mentions that Green Asia Impex Limited is incorporated in 2014 and is headquartered in Tadepalligudem, Andhra Pradesh.
- LowSubsidiary
Green Asia Cold Storages Private Limited
50% confidenceWhat the filing saysThe company disinvested 100% of its holding in Green Asia Cold Storages Private Limited in April 2024.
What we foundOne search result suggests that Green Asia Impex Limited had a subsidiary named Cold Storages Private Limited until April 9th, which is close to the claim of disinvestment in April 2024. However, the search results do not explicitly confirm the specific event of disinvesting 100% of its holding in that entity in April 2024.
Updates since the first filing
Addenda, corrigenda and the abridged prospectus, newest first.
An earlier full draft. The main analysis above reflects the latest version; open the document to compare.
Green Asia Impex Limited IPO: common questions
Short answers drawn from the filings above.
How big is the Green Asia Impex Limited IPO?
Green Asia Impex Limited's IPO comprises a fresh issue of ₹53 Cr and an offer for sale of ₹7.0 Cr, according to its SEBI filings. The price band is ₹84.00 to ₹89.00 per share.
What are Green Asia Impex Limited's revenue and profit?
Green Asia Impex Limited reported revenue from operations of ₹384 Cr in FY26, +13.7% versus FY25. Net profit was ₹16 Cr (FY25: ₹10 Cr). Revenue grew at a compound rate of 10.0% a year from FY24 to FY26. Figures are read from the Other, as printed there.
How much do promoters own in Green Asia Impex Limited?
Promoters and the promoter group hold 92.0% of Green Asia Impex Limited before the IPO.
How will Green Asia Impex Limited use the IPO money?
The fresh-issue proceeds are earmarked for: expected to be deployed from Internal Accruals post August (₹0.31 Cr); seafood processing facility including purchase and installation of plant, machinery & equipment (₹51 Cr); General Corporate Purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company.
What are the red flags in Green Asia Impex Limited's filing?
Earlier, we looked up 32 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 0 medium and 2 low. This is an automated screen, not a verdict; each finding links to its sources.
What does Green Asia Impex Limited do?
Here’s a detail about Green Asia Impex Limited that almost nobody notices: the company was officially incorporated back in August of 2014. That puts its founding squarely in the mid-2010s, which is a key piece of context when we look at its current market positioning.
Who manages the Green Asia Impex Limited IPO?
Book running lead managers: Indorient Financial Services Limited. Registrar to the offer: Bigshare Services Private Limited. Shares are proposed to list on NSE.
Where can I read the original Green Asia Impex Limited IPO documents?
All 1 filing for Green Asia Impex Limited (Other) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document.
Source documents
Every page reference on this site links to the original SEBI PDF.
| Document | Source |
|---|---|
OtherOther filing Green Asia Impex Limited · 30 Sep 2026 |