Farm Peace IPO
Farm Peace IPO is an SME IPO raising ₹32 Cr at a fixed price of ₹59 a share. It listed on 8 Sept 2026 at ₹112, +90.0% against its issue price of ₹59, and trades at ₹96 today (+62.9% since issue). It was subscribed 1.19× in total.
Just covered — bids slightly exceed the shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Farm Peace is an integrated contract farming company operating in Gujarat, India under the 'Farm Peace' brand. It arranges the cultivation of processing-grade potato varieties — Santana, Frysona, Innovator, Lady Rosetta and Chipsona — with farmers under a 100% buy-back arrangement, supplying the harvested potatoes to food processors that make French fries, chips, starch, flakes and powders. The company provides hybrid seeds, agronomic guidance, drip irrigation support and uses a proprietary 'Farm Peace' mobile application for field-level monitoring and traceability.
How it earns
Earns revenue from the sale of cultivated processed-grade potatoes (Santana, Lady Rosetta, Frysona, etc.) to snack and frozen-food manufacturers, plus sale of hybrid potato seeds to farmers (seed sales were 19.91% of FY2026 revenue).
Who buys
Customers are food processors making frozen French fries, snack chips/wafers, starch, potato flakes and powders. Specific customer names are not disclosed in the prospectus; the order book lists anonymised 'Customer 1', 'Customer 2' and 'Customer 3'. No customer-concentration percentage is stated. Confirmed order book at filing date is ₹3,590.00 lakhs (~₹35.90 crore), expected to be fully realised by 31 March 2027.
Scale
As of 31 March 2026: 5,660 acres under cultivation across 4 Gujarat districts, 61,680 metric tonnes of potatoes produced/sold, 853 farmers engaged, leased cold storage of 13,000 MT, FY2026 revenue ₹9,082.77 lakhs (~₹90.83 crore) and PAT ₹752.87 lakhs (~₹7.53 crore); operations began October 2021 and the company is DPIIT-recognised (since Feb 2024).
What it says sets it apart
- 100% buy-back model that fixes procurement prices at sowing time, shielding both the company and farmers from price volatility and ensuring full supply of contracted produce
- Proprietary 'Farm Peace' mobile application used by field officers for farmer KYC, seed distribution tracking, crop monitoring and real-time field reporting
- Operations concentrated in Gujarat's Sabarkantha, Aravalli, Mehsana and Banaskantha districts — described as ideal agro-climatic zones with loamy soils and cool, dry Rabi conditions for processing-grade potatoes
- Leased cold storage capacity of 13,000 metric tonnes (up from 5,600 MT in FY2024) along with temperature-controlled logistics to reduce post-harvest losses
- Mandatory drip irrigation across participating farmers, reducing water use by up to 50% while improving yield consistency
Revenue mix
The numbers at a glance
The price they’re asking →P/E stated in the prospectus. Stated figures are as printed in the prospectus; margins, growth and the borrowing ratio are computed from its own summary table. A multiple is one lens, not a verdict.
The last few years in numbers
From the prospectus’s own summary financial table (restated standalone). Margins and growth are computed from the stated figures; everything else is as printed.
| Period | Revenue | Profit after tax | PAT margin | Net worth | Borrowings |
|---|---|---|---|---|---|
| FY2026 | ₹91 Cr+15% | ₹8 Cr+13% | 8.3% | ₹43 Cr | ₹11 Cr |
| FY2025 | ₹79 Cr+27% | ₹7 Cr+8% | 8.4% | ₹36 Cr | ₹2 Cr |
| FY2024 | ₹63 Cr | ₹6 Cr | 9.9% | ₹9 Cr | ₹7 Cr |
How its cohort has done
131 SME issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
What happens when
Next: the UPI mandate expires on 15 Oct 2026.
What to watch
- The asking multiple is 11.9× earnings, and the issuer names no listed peers to compare it against.
- Its cohort's record: median +8.4% since issue price, 46.6% now below it — a base rate, not a forecast.
Each line restates a disclosure from the prospectus or the exchanges — nothing here is a recommendation to apply to this issue.
Track Farm Peace Limited
Results, orders, board decisions and every other filing — summarised and sent to your WhatsApp the minute they are out.
Figures are as published by the exchanges and the issuer’s prospectus. MarketPing publishes facts, comparisons and history only — nothing here is a recommendation to apply to this issue, and we do not publish grey market premium.