Shree Siddhivinayak Greentech Industries IPO

About Shree Siddhivinayak Greentech Industries IPO

The public issue of Shree Siddhivinayak Greentech Industries Limited, an SME IPO, is scheduled to open on TBA and close on TBA. The basis of allotment is expected to be finalised on TBA. Shares will be credited to the eligible investors' demat accounts on TBA, while refunds, if any, will be initiated on TBA. The equity shares offered through the IPO are proposed to be listed on the NSE Emerge platform, with the listing scheduled for TBA.

The IPO comprises a fresh issue of up to 65,96,000 equity shares aggregating up to ₹[TBA] crore. There is no offer for sale in the issue.

Shree Siddhivinayak Greentech Industries Limited’s IPO price band is fixed at ₹TBA to ₹TBA per share. The lot size for an application is TBA shares. The minimum investment required for retail investors is ₹TBA. The minimum investment required for HNI investors is ₹TBA.

Incorporated in 2022, Shree Siddhivinayak Greentech Industries Limited is a food products manufacturer based in Dharashiv (Osmanabad), Maharashtra. The company manufactures products such as jaggery powder, jaggery-based premixes and Khandsari sugar, and has also ventured into the cultivation and sale of sugarcane seeds through backward integration.

Objectives Of Shree Siddhivinayak Greentech Industries IPO

• Funding capital expenditure requirements.
  
• Repayment or prepayment of certain outstanding borrowings.
  
• General corporate expenses.
  

Industry Outlook

India's processed food industry is expanding steadily, supported by rising urbanisation and preference for clean-label products. The demand for convenient and value-added food products is on the rise. The organised market is also benefiting from improvements in food processing, packaging and distribution.

Sugarcane production, the primary raw material for jaggery and khandsari, has remained resilient over the past few years. Production is estimated to increase from approximately 4,546 lakh tonnes in FY25 to around 5,002 lakh tonnes in FY26, supported by improved crop yields and higher cultivation area. A stable supply of sugarcane is expected to support long-term growth across the jaggery and value-added sugarcane products industry.

The industry is also witnessing a gradual shift towards branded jaggery products, jaggery powder, speciality sweeteners and instant premixes as consumers seek healthier and convenient food options. The production of ready-to-eat and instant food products in India increased from approximately 4.94 lakh tonnes in FY20 to 7.33 lakh tonnes in FY25, reflecting sustained demand for convenient food solutions. Growth in e-commerce, organised retail and direct-to-consumer channels is further expanding the reach of these products.

The sector is expected to benefit from changing consumer preferences, adoption of mechanised processing and continued investments in food processing infrastructure. These trends are likely to support long-term demand for jaggery, khandsari and value-added sugarcane-based products across domestic and export markets.

About Shree Siddhivinayak Greentech Industries

Shree Siddhivinayak Greentech Industries Limited manufactures sugarcane-based food products. The company operates in both the B2B and B2C segments. Its B2B operations include selling jaggery powder, Khandsari sugar, by-products and cane seeds to wholesale customers. Its B2C segment markets jaggery-based premixes under the Feel Guddy brand through retail and online channels. It also plans to launch Khandsari sugar under the Simply Sakhar brand.

The company follows a backwards-integrated business model by cultivating sugarcane seeds to improve raw material availability and quality. It also adopts a zero-wastage manufacturing approach by commercially utilising by-products such as bagasse, molasses, press mud and ash.

Jaggery powder is the company's largest revenue contributor, accounting for 86.28% of total product sales in FY26. Maharashtra and Madhya Pradesh are its key markets, contributing 58.22% and 32.23% of jaggery powder sales, respectively. Revenue from product sales increased from ₹58.57 crore in FY25 to ₹75.27 crore in FY26, representing a growth of 28.52%.

Strengths Of Shree Siddhivinayak Greentech Industries

• Operates an integrated sugarcane processing facility, enabling better operational efficiency and consistent product quality.
• Maintains a backwards-integrated procurement model through its cane seed nursery, supporting long-term raw material availability.
• Strategically located in a sugarcane-rich region, enabling efficient procurement and lower transportation costs.
• Follows a zero-waste manufacturing model by monetising by-products such as bagasse, molasses, press mud and ash.
• Generates captive power using bagasse, improving energy efficiency and reducing operating costs.
• Operates a diversified product portfolio across B2B and B2C segments, reducing dependence on a single revenue stream.
• Has an established B2B distribution network serving wholesalers, industrial users, distributors and farmers.
• Has been expanding its branded consumer portfolio through the Feel Guddy and Simply Sakhar brands.
• Follows standardised manufacturing processes with quality control measures to maintain product consistency.
• Eligible for incentives under the Government of Maharashtra's Package Scheme of Incentive, 2019.

Risks Of Shree Siddhivinayak Greentech Industries

• The company derives a significant share of its revenue from jaggery powder and related sugarcane-based products, making it vulnerable to changes in customer demand.
• A significant portion of the company's revenue is concentrated in Maharashtra, Madhya Pradesh, Assam and Uttar Pradesh, exposing the business to regional market and operational risks.
• The company has a high dependence on a limited number of customers, with over 90% of certain product sales generated from its top customers.
• Manufacturing operations are seasonal and depend on the annual sugarcane crushing season, limiting production during the rest of the year.
• The business is highly dependent on the availability, quality and pricing of sugarcane, its primary raw material.
• Any disruption in sugarcane harvesting or transportation could adversely affect production schedules and operational efficiency.
• The company has not yet placed orders for its proposed capital expenditure, which could result in project delays or cost overruns.
• The manufacturing facility, registered office and warehouses operate on leased premises, exposing the company to lease renewal risks.

Anchor Investor Bidding Date

TBA

Registrar and Book Running Lead Manager

Registrar Details
Mas Services Limited
E-mail: ipo@masserv.com
Telephone: 011-26387281

Book Running Lead Manager
Erudore Capital Private Limited

Shree Siddhivinayak Greentech Industries Limited Contact Details
Block Number 1 and 4, Floor No-1 and 2, Survey No 120, Plot No 4 & C.T.S. Number- 5343, Sambhaji Nagar, Behind DIC, Osmanabad, Maharashtra, India, 413501
Email: info@shreesiddhivinayakgreentech.com
Phone: +91 86695 22424

Shree Siddhivinayak Greentech Industries Business Model

Shree Siddhivinayak Greentech Industries Limited generates revenue through the manufacture and sale of jaggery powder, Khandsari sugar, jaggery-based premix products, cane seeds and sugarcane by-products. The company operates across both B2B and B2C segments, supplying bulk products to wholesalers, distributors, industrial users and farmers, while marketing branded consumer products under the Feel Guddy brand through retail and online channels. It also generates additional revenue by selling by-products such as bagasse, molasses, press mud and ash.

Shree Siddhivinayak Greentech Industries Growth Trajectory

Shree Siddhivinayak Greentech Industries Limited's Total Income for FY26 was ₹78.32 crore, whereas in FY25 and FY24 it was ₹61.13 crore and ₹36.90 crore, respectively. The Profit After Tax for FY26 was ₹11.59 crore, whereas in FY25 and FY24 it was ₹5.50 crore and ₹3.08 crore, respectively.

Its EBITDA for FY26 was ₹20.46 crore, whereas in FY25 and FY24 it was ₹14.54 crore and ₹8.61 crore, respectively.

Shree Siddhivinayak Greentech Industries Market Position

The company derives the majority of its revenue from jaggery powder, which contributed 86.28% of total product sales in FY26. Maharashtra and Madhya Pradesh are its largest markets, accounting for 58.22% and 32.23% of jaggery powder sales, respectively, while Assam and Uttar Pradesh are emerging markets. The company has expanded its product portfolio by adding Khandsari sugar, jaggery-based premixes and cane seeds.

As of 31 March 2026, the company's Total Income, Profit After Tax and EBITDA stood at ₹78.32 crore, ₹11.59 crore and ₹20.46 crore, respectively.

How To Apply for Shree Siddhivinayak Greentech Industries IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.