Papadmalji Agro Foods IPO 2026: Price, Dates, GMP, Allotment & Listing Details

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Papadmalji Agro Foods Limited IPO
PA
Papadmalji Agro Foods Limited IPO
Traditional & Machine-Made Papads · Khichiya & Moongodi · Bikaner, Rajasthan
📋 NSE SME IPO Fresh + OFS NSE SME
₹72
Upper Price
₹20.18 Cr
Issue Size
Oct 7, 2026
Listing Date
₹49.10 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative
🟢
IPO Opens
Tuesday, 29 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Thursday, 1 October 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Monday, 5 October 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 6 October 2026
Unallotted funds returned; shares credited to demat
🏷️
Wednesday, 7 October 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date29 September 2026 (Tue)
IPO Close Date1 October 2026 (Thu)
Listing Date7 October 2026 (Wed)
Face Value₹10 per share
Price Band₹69 to ₹72
Issue Price (Upper Band)₹72 per share
Issue TypeBook Build — Fresh + OFS
Lot Size1,600 shares (Min App: 2 Lots / 3,200 Shares)
Total Issue Size28,03,200 shares (₹20.18 Cr)
Fresh Issue25,72,800 shares (₹18.52 Cr)
Offer for Sale (OFS)2,30,400 shares (₹1.66 Cr)
Market Maker Portion1,44,000 shares (₹1.04 Cr)
Net Offered to Public26,59,200 shares (₹19.15 Cr)
Pre-Issue Shares68,19,588
Post-Issue Shares93,92,388
Promoter Holding (Pre)98.60%
Market Cap (Pre-IPO)₹49.10 Cr
Listing ExchangeNSE SME
Lead ManagerKreo Capital Pvt.Ltd.
RegistrarMAS Services Ltd.
Market MakerGiriraj Stock Broking Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹72
Investor TypeLotsSharesAmount
Retail — Minimum23,200₹2,30,400
Retail — Maximum23,200₹2,30,400
S-HNI (sNII) — Min34,800₹3,45,600
S-HNI (sNII) — Max812,800₹9,21,600
B-HNI (bNII) — Min914,400₹10,36,800
⚠️ Note: Investors can bid for a minimum of 3,200 shares (2 lots) and in multiples of 1,600 shares thereafter. Market Maker reservation comprises 1,44,000 shares allotted to Giriraj Stock Broking Pvt.Ltd.
👥 Investor Reservation
Allocated portion of Net Offer
69.19% (18.40 L Sh)
Retail Portion
29.60% (7.87 L Sh)
NII Portion
1.20% (0.32 L Sh)
QIB Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore
Metric31 Mar 202631 Mar 202531 Mar 2024
Total Assets33.5025.0520.07
Total Income33.5431.7626.29
PAT5.214.722.11
EBITDA8.445.983.31
Net Worth16.1410.936.20
Reserves & Surplus9.3210.175.45
Total Borrowing9.998.9710.28
Income Growth
FY 2023–24₹26.29 Cr
FY 2024–25₹31.76 Cr
FY 2025–26₹33.54 Cr
🎯 Key Performance Indicators
38.51%
ROE
Mar 31, 2026
0.62
Debt/Equity
Mar 31, 2026
46.47%
ROCE
Mar 31, 2026
15.54%
PAT Margin
Mar 31, 2026
25.16%
EBITDA Margin
Mar 31, 2026
32.29%
RoNW
Mar 31, 2026
3.04x
Price/Book
Mar 31, 2026
23.67
NAV
Mar 31, 2026
⚖️ Valuation & EPS
Pre-IPO EPS
₹7.64
FY26 earnings + pre-issue shares
P/E: 9.42x
Post-IPO EPS
₹5.55
FY26 earnings + post-issue shares
P/E: 12.97x
Price to Book Value
3.04x
At upper price band ₹72
Market Cap (Pre-IPO)
₹49.10 Cr
At issue price ₹72
ℹ️ Pre-IPO EPS (₹7.64) based on pre-issue shares (68,19,588) and FY26 restated PAT (₹5.21 Cr). Post-IPO EPS (₹5.55) accounts for the dilution resulting from the issuance of 25,72,800 fresh equity shares extending the total post-issue equity to 93,92,388 shares. Post-IPO Market Cap expands to ₹67.63 Cr at the upper issue price of ₹72.
🎯 Objects of the Issue
Net proceeds utilisation
1
Funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of plant and machinery and installation of 250 kW Rooftop Solar Power System for setting up a new manufacturing facility at Bachhasar, Bikaner
₹7.90 Cr
2
Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks
₹5.80 Cr
3
General Corporate Purposes
Balance
Total Fresh Issue Goal ₹18.52 Cr
🏢 About Papadmalji Agro Foods Ltd.
Est. 2017 · Bikaner, Rajasthan · Papad & Ethnic Agro-Food Manufacturing

Papadmalji Agro Foods Limited, incorporated in December 2017, is an agro-food processing company specializing in the manufacturing and distribution of traditional and modern papads, snacks, and related ethnic food products. The company’s portfolio encompasses artisanal hand-made papads, machine-made ready-to-fry varieties, rice papads (Khichiya), vrat-special items, and traditional moongodi, along with white-label contract manufacturing for major third-party brands.

The business operates two FSSAI-licensed manufacturing units in Bikaner, Rajasthan, with its flagship Gharsisar facility certified under ISO 22000:2018 food safety standards. Production leverages a unique decentralized Batara–Batari model that organizes and empowers local women artisans for authentic hand-rolling, blended with automated semi-processing machinery for dough preparation, hygienic drying, cutting, and automated packaging. Products are retailed across India through general trade, modern retail stores, quick-commerce platforms, and D2C channels under registered brands including Zhakaas, Vishal, Rozana, Diamond, and Papadmalji. The company maintains an expansive distribution network covering 21 states and 3 Union Territories, supplemented by international exports to the Middle East. Supported by equity investment from the India Customer Insight Fund since 2018, the company employed 118 permanent staff as of March 31, 2026.

Brand Ecosystem
🫙
Diverse Papad Portfolio
Hand-made, machine-made ready-to-fry, rice khichiya, and fasting-special papads across various flavors.
🥣
Multi-Brand Retailing
Targeted retail lines marketed under Zhakaas, Vishal, Rozana, Diamond, and the flagship Papadmalji brand.
👩‍🍳
Batara-Batari Artisan Model
Decentralized community-driven model empowering women artisans for traditional hand-rolled quality.
🏭
Bikaner Production Facilities
Two FSSAI-approved manufacturing units with an ISO 22000:2018 certified facility in Gharsisar.
Competitive Strengths
🏆Blend of traditional artisanal craftsmanship and modern automated processing and packaging lines.
🛒Multi-channel distribution network spanning general trade, supermarkets, quick-commerce, and D2C online portals.
🌎Nationwide reach across 21 states and 3 Union Territories with merchant export lines to the Middle East.
📈Exceptional return metrics logging a 38.51% ROE and 46.47% ROCE for the fiscal year ended March 31, 2026.
Company Promoters
PC
Prasoon Chauhan & Sheikh Arfeen Ahmed
Promoters, Papadmalji Agro Foods Ltd.
Key Selling Shareholders (OFS)
Prasoon Chauhan2,30,400 Shares (₹1.66 Cr)
📅 Key Dates
IPO Opens29 Sep 2026
IPO Closes1 Oct 2026
Allotment5 Oct 2026
Refund & Share Credit6 Oct 2026
Listing Day7 Oct 2026
💡 Quick Summary
Price Band₹69 – ₹72
Upper Price₹72 / share
Lot Size1,600 shares
Min. Investment (Retail)₹2,30,400 (2 Lots)
Issue Size₹20.18 Cr
ListingNSE SME
🏦 Registrar & Lead Manager
Registrar
MAS Services Ltd.
📞 011-26387281 / 82
[email protected]
Lead Manager
Kreo Capital Pvt.Ltd.
📍 Registered Address
Papadmalji Agro Foods Ltd.
Opp. Manav Bharti School, Garsisar,
Bikaner, Rajasthan — 334001
📞 +91 7300071153
[email protected]
🛡️ Regulatory Note: SME IPO investments are subject to SEBI regulations and higher lot size restrictions. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the Papadmalji Agro Foods IPO RHP for informational purposes only. This format is generated adhering to the required structure as specified in the IPO NEW FORMAT source file. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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