Papadmalji Agro Foods IPO
Upcoming29 Sep – 1 Oct 2026
The five questions
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1How it makes moneyWe haven't read this part of the document yet.
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2Is it growing, and is profit turning into cash?Sales rose 28% from 2024 to 2026 (₹26.3 cr → ₹33.5 cr).
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3How much cushion does it have?We haven't read this part of the document yet.
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4What you pay, and who gets the moneyAt ₹72 you pay about ₹9.42 for every ₹1 of last year's profit.
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5Who controls it, and what is on record?We haven't read this part of the document yet.
Latest update:
Price band ₹69–₹72 · Closes 1 Oct 2026 · Allotment 5 Oct 2026 (Confirmed) · Lists 7 Oct 2026 (Expected)
What Papadmalji Agro Foods does
Papadmalji Agro Foods Limited is an ISO 22000:2018 certified enterprise engaged in the in-house manufacturing of Hand-Made Papads, Machine-Made Papads, Machine-Made ready to Fry Papads, Rice Papads (Khichiya), Vrat Special Papads, and Moongodi. In addition to in-house manufacturing, the Company also undertakes white label manufacturing of Handmade Papads for clients.
Papadmalji Agro Foods financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 26 | 32 | 34 | |
| Operating Profit | — | — | — | |
| OPM % | — | — | — | |
| Net Profit | — | — | — | |
| Total Debt | 10 | 9 | 10 |
Papadmalji Agro Foods IPO offer structure
Total: ₹20 cr. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Papadmalji Agro Foods strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Our business is dependent on a limited number of customers, and the loss of one or more significant customers may adversely affect our business. (p.24)
- Our business depends on a limited number of suppliers for raw materials, and we do not have long-term supply agreements with them. (p.25)
- Our business depends on an effective and diversified sales and distribution network across multiple channels. (p.26)
- Our business and revenue are significantly dependent on our key brands, particularly Vishal, Zhakaas, and Rozana. (p.27)
- Our Company operations require a significant amount of working capital for continuing growth. (p.28)
Papadmalji Agro Foods market and competition
The Indian papad market is highly competitive. Amongst unlisted companies, our key competitors include Shri Mahila Griha Udyog Lijjat Papad, Agrawal Papad Pvt. Ltd., ARS Foods, Sunil Grah Udyog, and Mahaganapathi Foods.
Papadmalji Agro Foods outlook, as the document states it
To meet growing demand and strengthen our production capabilities, our Company is establishing a manufacturing unit at Bachhasar, Bikaner District, Rajasthan, designed to enhance operational efficiency, expand product diversity, and support scalable growth.
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Papadmalji Agro Foods IPO: common questions
When does the Papadmalji Agro Foods IPO open and close?
The Papadmalji Agro Foods IPO is open from 29 Sep 2026 to 1 Oct 2026.
What is the Papadmalji Agro Foods IPO price band?
The price band is ₹69–₹72 per share.
What is the lot size and minimum investment for the Papadmalji Agro Foods IPO?
One lot is 1600 shares, and a retail application must be at least one lot. That is about ₹2,30,400 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
When are the Papadmalji Agro Foods IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 5 Oct 2026, refund/unblock around 6 Oct 2026 and listing around 7 Oct 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Papadmalji Agro Foods IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. Bidding opens 29 Sep 2026. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 712 SME IPOs that have listed on the NSE since 2016, 564 (79%) opened above their issue price, at a median of +11%. That is the segment's own record, not a forecast for this issue.