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IPO Open

Tue, Sep 29, 2026

IPO Close

Thu, Oct 1, 2026

Price Band

₹69 to ₹72

Market Cap*

₹67.63 Cr * on Upper Price

IPO Details

  • IPO Date
    29 Sep to 1 Oct, 2026
  • Listing Date
    Wed, Oct 7, 2026
  • Face Value
    ₹10 per share
  • Price Band
    ₹69 to ₹72
  • Lot Size
    1,600 Shares
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    NSE SME
  • Total Issue Size
    28,03,200 shares (agg. up to ₹20 Cr)
  • Reserved for Market Maker
    1,44,000 shares (agg. up to ₹1 Cr)
  • Fresh Issue (Ex Market Maker)
    24,28,800 shares (agg. up to ₹17 Cr)
  • Offer for Sale
    2,30,400 shares of ₹10 (agg. up to ₹2 Cr)
  • Net Offered to Public
    26,59,200 shares (agg. up to ₹19 Cr)
  • Share Holding Pre Issue
    68,19,588 shares
  • Share Holding Post Issue
    93,92,388 shares

    IPO Timetable (Tentative)

  • IPO Open
    Tue, Sep 29, 2026
  • Allotment
    Mon, Oct 5, 2026
  • Credit of Shares
    Tue, Oct 6, 2026
  • IPO Close
    Thu, Oct 1, 2026
  • Refund
    Tue, Oct 6, 2026
  • Listing
    Wed, Oct 7, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Net Offer
Retail Not less than 35% of the Net Offer
NII Not less than 15% of the Net Offer

IPO Lot Size

Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.

Application Lots Shares Amount
Individual investors (IND) (Min) 2 3200 ₹2,30,400
Individual investors (IND) (Max) 2 3200 ₹2,30,400
S-HNI (Min) 3 4800 ₹3,45,600
S-HNI (Max) 8 12800 ₹9,21,600
B-HNI (Min) 9 14400 ₹10,36,800

About Papadmalji Agro Foods Ltd.

Incorporated in 2017, Papadmalji Agro Foods Ltd is engaged in the processing and manufacturing of agro-based food products, focusing on quality-driven production, sourcing raw agricultural inputs, and delivering packaged food items to consumers. The company offers services including food processing, grading, packaging, storage, and supply of agricultural and processed food products, catering to wholesalers, retailers, and institutional buyers across regional markets.

Papadmalji Agro Foods Ltd emphasizes hygiene, consistent quality, and efficient distribution, supporting farmers and food supply chains while meeting regulatory standards and growing demand for processed and value-added agro food products.

In addition to in-house manufacturing, they also undertake white label manufacturing of Handmade Papads for clients, wherein products are produced by the Company and marketed by clients under their respective brand names and packaging, tailored to their target market.

As of June 30, 2025, the distribution network comprises 68 distributors and 25 wholesalers, collectively servicing 5,965 retail outlets in the general trade channel through distributors and wholesalers.

Competitive Strengths:

  • They are amongst the few organized players exclusively in the papad segment leveraging strategically located manufacturing facilities.
  • Extensive and well-established sale and distribution network
  • Multi Channel Presence
  • Wide Range of Products with diverse variants
  • Purity, Health & Wellness Focus

Company Financials (Restated Consolidated)

(Amount in ₹ Crore)

Period Ended 30 Jun 2025 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets 14.10 20.07 25.05 26.86
Total Income 8.10 31.76 26.29 25.00
Profit After Tax 1.81 4.72 2.11 0.25
NET Worth 12.74 10.93 6.20 4.10
Reserves and Surplus 11.98 10.17 5.45 3.34
Total Borrowing 8.93 8.97 10.28 6.51

Recently Listed IPOs in Other Food Products

Company Issue Type Issue Size Issue Price PE Ratio Listing Day Close Listing Gain/Loss % LTP
Elfin Agro India Ltd. SME ₹25.03 Cr ₹47 13.05 ₹47.60 +1.28% ₹92.05
Shyam Dhani Industries Ltd. SME ₹38.49 Cr ₹70 13.19 ₹139.65 +99.50% ₹54.50
Pajson Agro India Ltd. SME ₹74.45 Cr ₹118 10.11 ₹130.20 +10.34% ₹213.00

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 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
    7.82
  • 2 Installation of 125 kW Rooftop Solar Power System at existing Garsisar Unit, Bikaner
    0.31
  • 3 Funding incremental working capital requirements of the Company
    2.81
  • 4 Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks
    8.60
  • 5 General Corporate Purposes

Key Performance Indicator (KPI)

KPI Mar 31, 2025
ROE 55.15%
ROCE 44.51%
Debt/Equity 0.82
RoNW 43.23%
PAT Margin 14.88%
NAV 16.03
Price to Book Value 4.49

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 6.93 7.69
P/E (x) 10.39 9.36
Market Cap at Offer Price ₹49.10 Cr. ₹67.63 Cr
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2025 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 60.98%
Public 39.02%
Total 100%

Company Promoters: Jai Agarwal and Premlata Agarwal.

Offer For Sale – Selling Shareholder

Name Category No. of Shares Offered Amount (₹ cr.)
India Customer Insight Fund Corporate 2,30,400 1.66
Total 2,30,400 1.66

Papadmalji Agro Foods IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

MAS Services Ltd.

IPO Lead Manager(s)

  1. Kreo Capital Pvt.Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Papadmalji Agro Foods Ltd. Address
Opp. Manav Bharti School,
Garsisar,
Bikaner, Rajasthan, 334001

IPO FAQs

Papadmalji Agro Foods IPO is a SME IPO of 28,03,200 equity shares of the face value of ₹10 aggregating up to ₹20 Crores. The issue is priced at ₹69 to ₹72. The minimum order quantity is 1600.

The IPO opens on Tue, Sep 29, 2026, and closes on Thu, Oct 1, 2026.

MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Angel One customers can apply online in Papadmalji Agro Foods IPO using UPI as a payment gateway. Angel One customers can apply in Papadmalji Agro Foods IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Papadmalji Agro Foods IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Papadmalji Agro Foods IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Papadmalji Agro Foods IPO opens on Tue, Sep 29, 2026 and closes on Thu, Oct 1, 2026.

Papadmalji Agro Foods IPO lot size is 1600, and the minimum amount required for application is ₹2,30,400, with 2 lots being the minimum application size.

You can apply in Papadmalji Agro Foods IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Papadmalji Agro Foods IPO will be done on Monday, October 5, 2026, and the allotted shares will be credited to your demat account by Tue, Oct 6, 2026. Check the Papadmalji Agro Foods IPO allotment status.

The Papadmalji Agro Foods IPO listing date is not yet announced. The tentative date of listing is Wed, Oct 7, 2026.

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