All-stock 100% acquisition | ₹354.52 crore | Board also approves ESOS 2026
New Delhi [India], November 6: Pajson Agro India Limited (PAJSON | 544657 | INE14LM01012), a vertically integrated cashew processing company with farm-gate sourcing across key producing origins and a growing consumer brand, ‘Royal Mewa’, has announced that its Board of Directors, has approved the acquisition of a 100% equity stake in Pacific Global FZCO, Dubai (UAE) (“Pacific Global”), an origin-based cashew processing platform with an installed capacity of 60,000 MT of raw cashew nuts (RCN) per annum in Côte d’Ivoire, for a total consideration of ₹354.52 crore, to be discharged entirely through a share swap.
From Local to Global: The acquisition marks a strategic shift in Pajson Agro’s growth trajectory, from an India-based processor to an origin-integrated, global cashew platform. Côte d’Ivoire is the world’s largest producer of raw cashew nuts, and a processing footprint at source places the Company at the heart of global supply, strengthening control over raw-material access, quality and cost. Processing at origin while serving multiple international markets also provides a natural hedge across sourcing, geographies and end-markets.
Scale for India and the World: On completion of the acquisition, the Company’s processing capacity will scale to a combined 1,13,000 MT, comprising its existing 18,000 MT in India, the 35,000 MT greenfield facility being set up at Vizianagaram, Andhra Pradesh, and 60,000 MT in Côte d’Ivoire. This builds scale for India and global demand alike, in line with the Company’s ambition to lead the cashew value chain.
Established Platform, Global Customers: Pacific Global, through its wholly owned subsidiaries, procures RCN, manages inventory and processes it into cashew kernels, which are sold to international customers across the US, Europe, the Middle East and China. For January–August 2026, it reported a consolidated turnover of AED 40.32 million (₹104.18 crore), with a consolidated net worth of AED 135.92 million (₹351.20 crore) as on August 31, 2026.
Capital-Efficient, Long-Term Alignment: The consideration will be settled through a preferential issue of up to 1,20,58,397 equity shares of face value ₹10 each, at an issue price of ₹294 per share, to the shareholders of Pacific Global, in accordance with Chapter V of the SEBI (ICDR) Regulations, 2018. The all-stock structure involves no cash outflow, values the acquisition at approximately 1.0x Pacific Global’s net worth, and aligns the incoming shareholders with the Company’s long-term value creation. The transaction is subject to shareholder and other applicable approvals, and is expected to be completed within approximately 2–3 months thereafter.
Investing in People through ESOS 2026: The Board also approved the Pajson Agro Employee Stock Option Scheme 2026 (“ESOS 2026”), with a pool of up to 11,90,480 options, each exercisable into one equity share. Administered by the Nomination and Remuneration Committee and extendable to eligible employees of group companies, including subsidiaries, the scheme is designed to attract, reward and retain talent and to give employees a direct stake in the Company’s growth. The Board further approved an increase in the authorised share capital from ₹25 crore to ₹40 crore.
Commenting on the update, Mr. Aayush Jain, Promoter, Chairman & Managing Director, said: “This acquisition is a defining milestone in Pajson Agro’s journey. It takes us from a local processor to a company with a global strategic footprint, right at the origin. Côte d’Ivoire is the world’s largest producer of raw cashew nuts, and 60,000 MT of processing capacity there places us at the centre of global supply.
With combined capacity scaling to 1,13,000 MT, we are building scale not just for India but for the world, and we are clearly targeting a leadership position in the cashew industry. Processing at origin and serving customers across multiple markets also gives us a clear natural hedge. The opportunities ahead are significant, and through ESOS 2026 our people will share in the value they help create.”
Mr. Pulkit Jain, Promoter & Non-Executive Director, Pajson Agro India Limited, and Majority Shareholder, Pacific Global FZCO, added: “Pacific Global has established an origin-based processing operation in Côte d’Ivoire with access to international customers, and bringing it into Pajson Agro unites sourcing, processing and global sales under one listed company. As the majority shareholder of Pacific Global, I have chosen to receive the entire consideration in Pajson Agro shares, not cash. This reflects my confidence in the Company’s long-term prospects and keeps my interests aligned with those of every Pajson Agro shareholder.”
About Pajson Agro India Limited
Pajson Agro India Limited (“Pajson Agro” or “the Company”) is a vertically integrated cashew processing company that converts raw cashew nuts (RCN) into high-quality, market-ready kernels for institutional and retail customers. Backed by the Pajson Group’s sourcing presence across key producing origins in West Africa, the Company procures raw nuts through long-standing farm-gate relationships.
The Company operates a technology-driven processing facility at Visakhapatnam, Andhra Pradesh, with an installed capacity of 18,000 MTPA, and is setting up a greenfield facility at Vizianagaram, Andhra Pradesh. It serves leading confectionery and snack manufacturers along with a network of over 178 distributors across 20+ states, and markets premium dry fruits under its consumer brand ‘Royal Mewa’.
Website: https://pajsonagro.com/
For FY26, the company reported Total Income of ₹256.92 crore, EBITDA of ₹37.82 crore, and PAT of ₹24.78 crore.
The company was listed on BSE SME in December 2025.
Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
