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Stanbik operates seven retail stores in Gujarat, all run from leased premises including its registered office, godowns and agricultural lands.
Stanbik Agro IPO.
Stanbik Agro IPO: Ahmedabad-based fresh fruits and vegetables supplier Stanbik Agro Ltd, led by father-son duo Ashok and Chirag Prajapati, has launched a Rs 12.28-crore SME IPO to fuel a major retail push across Gujarat. The issue opened on December 12 and will close on December 16.
Incorporated in 2021, the company plans to use the proceeds to open 20 new outlets and strengthen working capital as it scales its farm-to-market model. Currently, Stanbik operates seven retail stores — one in Gandhinagar and six in Ahmedabad’s Chandranagar, Odhav, Narol, Vejalpur and Vasna areas — all run from leased premises, including its registered office, godowns and agricultural lands.
Managing director Ashok Prajapati, 48, said the listing marks a key step in professionalising the business. “With time, one need to change and set up new systems if one needs to expand the business. The listing will enhance our company’s corporate image, brand name and create a public market for its Equity Shares in India. It will also make future financing easier and affordable in case of expansion or diversification of the business. Further, listing attracts interest from institutional investors as well as foreign institutional investors,” he said, according to businessline.
Post-issue, promoter holding will fall from 98.92 per cent to 68.54 per cent.
20 New Outlets, All Within 30 Km of Ahmedabad
Stanbik plans to open 20 new retail stores — 15 in Ahmedabad and five across other parts of Gujarat — each with a built-up area of about 900 to 1,000 sq.ft. Prajapati said the expansion will remain geographically tight to protect product quality and logistics efficiency.
“We plan to set up the new retail outlets within a 30 kilometer radius of Ahmedabad. Fruits and vegetables being perishable items, we want to restrict ourselves to a network which is closer to our supply chain in Ahmedabad. We source fruits and vegetables from farmers and APMCs in Gujarat, Rajasthan and Maharashtra,” he said.
Nearly 100% Revenue Growth in FY25
Stanbik Agro posted Rs 52.5 crore in revenue from operations in FY 2025, a sharp 98 per cent jump from Rs 26.5 crore in FY 2024. Net profit stood at Rs 3.74 crore for the year.
Beyond retail customers, the company supplies fruits and vegetables to wholesalers, traders and institutional buyers, and also services bulk orders on major B2B e-commerce platforms. It has additionally entered into arrangements with farmers for contract farming of crops such as sesame, cumin and cotton.
As of November 30, 2025, its order book stood at Rs 16 crore, consisting of confirmed purchase orders expected to be fulfilled within the current financial year.
Competition Remains Tough
Despite strong growth, the company acknowledges the competitive pressures it faces. In its prospectus, Stanbik notes that it competes with large agribusinesses and multinational supply-chain players equipped with advanced logistics, cold-storage infrastructure and expansive distribution networks.
Click here to add News18 as your preferred news source on Google. December 14, 2025, 15:16 IST
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