Papadmalji Agro Foods IPO: dates, price band, lot size and GMP
Papadmalji Agro Foods IPO closed on 1 Oct on the SME; price band ₹69 – ₹72, lot 1,600 shares, no GMP reported yet. Allotment 5 Oct, listing 7 Oct.
Updated 6 Oct 2026, 14:11 IST. Dated dealer references.
BuyUnlistedShares tracks 197 IPOs on its calendar; the Papadmalji Agro Foods IPO has a price band of ₹69 – ₹72, a lot of 1,600 shares and no grey-market premium reported yet as of 06 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 29 Sep – 1 Oct 2026 |
| Price band | ₹69 – ₹72 |
| Lot size | 1,600 shares |
| Issue size | ₹20.18 Cr |
| Fresh issue | ₹17.49 Cr |
| Offer for sale | ₹1.66 Cr |
| Subscription | 2.54x |
| Registrar | MAS Services Ltd. |
| Lead managers | Kreo Capital Pvt.Ltd. |
| Status | Closed, listing awaited |
Timeline
- Issue opens: 29 Sep
- Issue closes: 1 Oct
- Allotment: 5 Oct
- Refunds: 6 Oct
- Demat credit: 6 Oct
- Listing: 7 Oct
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 86.85x |
| NII | 1.32x |
| sNII | 0.64x |
| bNII | 1.66x |
| Retail | 1.59x |
| Total | 2.54x |
Last updated 1 Oct 2026, 5:55 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE SME |
| Market cap at the upper band | ₹67.63 Cr |
| P/E (pre-issue) | 9.42x |
| P/E (post-issue) | 12.97x |
| Fresh issue (shares) | 24,28,800 |
| Offer for sale (shares) | 2,30,400 |
| Total shares offered | 26,59,200 |
| Promoter holding pre-issue | 60.98% |
| Promoter holding post-issue | 44.28% |
| Promoters | Jai Agarwal, Premlata Agarwal, Aanya Agarwal |
| Lead managers | Kreo Capital Pvt.Ltd. |
| Registrar phone | 011-2638728182 |
| Registrar email | ipo@masserv.com |
| Company website | papadmalji.com |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 3,200 | ₹2,30,400 |
| Retail (maximum) | 2 | 3,200 | ₹2,30,400 |
| sNII (minimum) | 3 | 4,800 | ₹2,30,400 |
| bNII (minimum) | 3 | 4,800 | ₹10,36,800 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | 1.2% | 32,000 | Not more than 50% of the Net Offer |
| NII (HNI) | 29.6% | 7,87,200 | Not less than 15% of the Net Offer |
| sNII | 9.9% | 2,64,000 | |
| bNII | 19.7% | 5,23,200 | |
| Retail | 69.2% | 18,40,000 | Not less than 35% of the Net Offer |
| Market Maker | 5.4% | 1,44,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 29 Sep | 86.85x | 0.01x | 0.02x | 0.00x | 0.51x | 1.40x |
| Day 2 · 30 Sep | 86.85x | 0.32x | 0.15x | 0.41x | 0.75x | 1.66x |
| Day 3 · 1 Oct | 86.85x | 1.32x | 0.64x | 1.66x | 1.59x | 2.54x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹7.64 |
|---|---|
| EPS (post-issue) | ₹5.55 |
| P/E (pre-issue) | 9.42x |
| P/E (post-issue) | 12.97x |
| RoNW | 32.29% |
| RoCE | 46.47% |
| RoE | 38.51% |
| PAT margin | 15.54% |
| EBITDA margin | 25.16% |
| Price / book | 3.04x |
| NAV per share | ₹23.67 |
| Debt / equity | 0.62 |
| Market cap (upper band) | ₹67.63 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 33.5 | 25.05 | 20.07 | +33.7% |
| Total Income | 33.54 | 31.76 | 26.29 | +5.6% |
| Profit After Tax | 5.21 | 4.72 | 2.11 | +10.4% |
| EBITDA | 8.44 | 5.98 | 3.31 | +41.1% |
| NET Worth | 16.14 | 10.93 | 6.2 | +47.7% |
| Reserves and Surplus | 9.32 | 10.17 | 5.45 | −8.4% |
| Total Borrowing | 9.99 | 8.97 | 10.28 | +11.4% |
About Papadmalji Agro Foods
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.
Objects of the issue
- 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 — ₹7.9 Cr
- Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks — ₹5.8 Cr
- General Corporate Purposes
Net proceeds: ₹13.7 Cr
Strengths (per the offer document)
- Leveraging our strategic — Wide range of location, modern Purity, Health Papads with infrastructure, certified & Wellness diverse quality manufacturing Focus variants facility , and strong local sourcing, we streamline…
- Extensive and well-established sale and distribution network — We have a broad and expansive distribution network that forms the backbone of our operations, particularly in our core markets within Rajasthan, while also supporting a pan-India presence.
- Multi Channel Presence — Our Company has established a diversified multi-channel presence that ensures widespread product availability and high brand visibility across domestic and select international markets.
- Wide Range of Products with diverse variants — We have built our reputation on a strong foundation of authenticity and variety, making our extensive product portfolio one of our defining strengths.
- Ready-to-Fry 3D Cereal Pellets – Oval, Badminton — In addition to our papad portfolio, we offer machine made Moongodi, a versatile lentil-based ingredient, catering to households that prefer flexible cooking and snack options.
- Purity, Health & Wellness Focus — We believe that great taste and wholesome nutrition should go hand in hand.
Risk factors (as disclosed by the company)
- Our business is dependent on a limited number of customers, and the loss of one or more significant customers may adversely affect our business — Our company is engaged in the manufacturing of a wide range of Handmade Papads, Machine-Made Papads, Rice Papads, Vrat Special Papads and Moongodi as well as in the trading of Cereal Pellets.
- Our business depends on a limited number of suppliers for the procurement of raw materials — performance. We source our key raw materials, including pulses, flours, sugar, spices, oil, primarily through third-party suppliers without entering into long-term contracts.
- Our business requires us to obtain and renew certain registrations — adversely affect our business operations.
- We are required to obtain various statutory approvals and licenses for our proposed capacity expansion — Our proposed capital expenditure plan for expansion of manufacturing capacity is subject to obtaining several statutory and regulatory approvals from the relevant authorities, including but not…
- Certain of our historical corporate records and filings have certain discrepancies or have been filed with a delay — In the past, there have been certain instances of delays in filing statutory forms as per the reporting requirements under the Companies Act, 2013 with the Registrar of Companies which have been…
- Our revenue is primarily derived from the sale of papad products, and any decline in demand for papads or shift — in consumer preferences may adversely affect our business and financial performance.
- The papad industry is fragmented and highly competitive, which may affect our market share, pricing, and profitability — The papad industry in India is characterized by a large number of regional, unorganized, and small-scale manufacturers, along with organized players operating at local and national levels.
- Our product sales are heavily concentrated in a few core markets, particularly Rajasthan, Haryana, and Assam — and any adverse developments in these regions may materially affect our business and financial performance.
From the DRHP (strengths pages 185–190, risk factors pages 33–39). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Papadmalji Agro Foods IPO GMP today and trend
- Papadmalji Agro Foods IPO subscription status, day by day
- Papadmalji Agro Foods IPO allotment status and how to check
Frequently asked questions
When does the Papadmalji Agro Foods IPO open and close?
The issue is scheduled for 29 Sep – 1 Oct 2026.
What is the Papadmalji Agro Foods IPO price band?
The price band is ₹69 – ₹72 per share with a lot size of 1,600 shares.
How big is the Papadmalji Agro Foods IPO?
The total issue size is ₹20.18 Cr, of which ₹17.49 Cr is a fresh issue and ₹1.66 Cr an offer for sale.
When will Papadmalji Agro Foods list?
The tentative listing date is 7 Oct on the SME platform.
How do I apply for the Papadmalji Agro Foods IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Papadmalji Agro Foods · as filed with SEBI · nsearchives.nseindia.com
- Red herring prospectus (RHP), Papadmalji Agro Foods · as filed · nsearchives.nseindia.com
- Registrar allotment page, MAS Services Ltd. · allotment 5 Oct · masserv.com
- NSE public issues page · listing 7 Oct · nseindia.com
- Papadmalji Agro Foods company website · papadmalji.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Oct, 08:04 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Papadmalji Agro Foods IPO”, https://buyunlistedshares.com/ipo/papadmalji-agro-foods-ipo, as of 06 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk: the unlisted and pre-IPO dealing desk of Gayatri Financial Synergy, Faridabad, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 06 Oct 2026.
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