Papadmalji Agro Foods IPO Review 2026: Listing Dates, Allotment, GMP & Overview

29 Sep 2026
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Papadmalji Agro Foods IPO Review 2026: Listing Dates, Allotment, GMP & Overview

Papadmalji Agro Foods IPO is a book-built SME IPO of ₹20.18 crore comprising a fresh issue of 25.73 lakh shares and an offer for sale of 2.30 lakh shares. The IPO opens on September 29, 2026, and closes on October 1, 2026. The price band is ₹69 to ₹72 per share and the IPO is proposed to list on NSE SME on October 7, 2026.

The company manufactures and markets papads and related food products, including hand-made papads, machine-made papads, ready-to-fry papads, rice papads, vrat-special papads and moongodi. It operates two FSSAI-licensed manufacturing facilities in Bikaner, Rajasthan.

Papadmalji Agro Foods IPO Quick Answer

IPO Open DateSep 29, 2026
IPO Close DateOct 1, 2026
Issue Size₹20.18 Crore
Price Band₹69 to ₹72 per share
Lot Size1,600 Shares
Retail Minimum Investment₹2,30,400
Allotment DateOct 5, 2026
Listing DateOct 7, 2026
Listing ExchangeNSE SME

Papadmalji Agro Foods IPO Details

IPO Date29 Sep to 1 Oct, 2026
Listing DateWed, Oct 7, 2026
Face Value₹10 per share
Price Band₹69 to ₹72
Lot Size1,600 Shares
Sale TypeFresh Capital cum OFS
Issue TypeBookbuilding IPO
Listing AtNSE SME
Market Cap at Upper Band₹67.63 Crore
Lead ManagerKreo Capital Pvt. Ltd.
RegistrarMAS Services Ltd.
Market MakerGiriraj Stock Broking Pvt. Ltd.

Papadmalji Agro Foods IPO Issue Size

Total Issue Size28,03,200 shares aggregating up to ₹20.18 crore
Fresh Issue25,73,000 shares aggregating up to ₹18.52 crore
Offer for Sale2,30,400 shares aggregating up to ₹1.66 crore
Market Maker Reservation1,44,000 shares
Net Offered to Public26,59,200 shares
Pre-Issue Shareholding68,19,588 shares
Post-Issue Shareholding93,92,388 shares

Papadmalji Agro Foods IPO Lot Size

The minimum application size is 1,600 shares. At the upper price band of ₹72, the minimum retail application requires 3,200 shares, amounting to ₹2,30,400. The minimum HNI application is 4,800 shares, amounting to ₹3,45,600.

Papadmalji Agro Foods IPO Timeline

IPO OpenSep 29, 2026
IPO CloseOct 1, 2026
AllotmentOct 5, 2026
RefundOct 6, 2026
Demat CreditOct 6, 2026
ListingOct 7, 2026

Papadmalji Agro Foods Company Financials

Papadmalji Agro Foods reported total income of ₹33.54 crore and profit after tax of ₹5.21 crore in FY2026, compared with ₹31.76 crore and ₹4.72 crore respectively in FY2025. EBITDA increased to ₹8.44 crore in FY2026 from ₹5.98 crore in FY2025.

Particulars (₹ Crore)FY2024FY2025FY2026
Total Income26.2931.7633.54
EBITDA3.315.988.44
Profit After Tax2.114.725.21
Net Worth6.2010.9316.14
Total Assets20.0725.0533.50
Total Borrowings10.288.979.99

Papadmalji Agro Foods IPO Valuation

Based on FY2026 figures and the upper price band, the company has reported an EPS of ₹7.64 and a post-issue P/E of approximately 12.97x. Its reported FY2026 ROE is 32.29%, ROCE is 46.47%, debt-to-equity is 0.62 and NAV per share is ₹23.67. These figures describe the valuation based on disclosed financials and should be considered alongside the offer document and sector context.

Objects of Papadmalji Agro Foods IPO

The fresh issue proceeds are proposed to be used primarily for setting up a new manufacturing facility at Bachhasar, Bikaner, including construction, mechanical and electrical works, plant and machinery and a 250 KW rooftop solar power system. A portion of the proceeds is also proposed for repayment or prepayment of borrowings.

Refer to RHP for detailed information.

About Papadmalji Agro Foods Ltd.

Incorporated in December 2017, Papadmalji Agro Foods Limited manufactures and markets papads and related food products. Its portfolio includes hand-made papads, machine-made papads, ready-to-fry papads, rice papads, vrat-special papads and moongodi. The company also undertakes white-label manufacturing and trades in cereal pellets under its own brand.

The company operates two FSSAI-licensed manufacturing units in Bikaner, Rajasthan. Its products are sold through general trade, modern trade, quick-commerce platforms and its direct-to-consumer website. As of March 31, 2026, the company had a distribution presence across 21 states and 3 Union Territories.

Papadmalji Agro Foods Competitive Strengths

  • Diverse portfolio of papad and related food products.
  • Combination of traditional hand-made and automated manufacturing.
  • Established sales and distribution network.
  • Presence across general trade, modern trade, quick commerce and D2C channels.
  • Women-led hand-made production model.
  • Two FSSAI-licensed manufacturing facilities in Bikaner.

Papadmalji Agro Foods IPO GMP

Grey market premium (GMP) is an unofficial market indicator and can change before listing. Available market data around September 28-29, 2026 showed GMP at around ₹0. GMP is not an exchange-traded price and does not guarantee the listing price or future performance.

IPO Allotment & Application Status

Registrar: MAS Services Ltd.

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Papadmalji Agro Foods IPO – Frequently Asked Questions

What is Papadmalji Agro Foods IPO?

Papadmalji Agro Foods IPO is a ₹20.18 crore book-built SME IPO comprising a fresh issue and an offer for sale.

When does Papadmalji Agro Foods IPO open?

The IPO opens for subscription on September 29, 2026.

When does Papadmalji Agro Foods IPO close?

The IPO closes on October 1, 2026.

What is Papadmalji Agro Foods IPO price band?

The price band is ₹69 to ₹72 per share.

What is Papadmalji Agro Foods IPO lot size?

The IPO lot size is 1,600 shares.

What is the minimum investment for Papadmalji Agro Foods IPO?

The minimum retail application is 3,200 shares, requiring ₹2,30,400 at the upper price band.

What is Papadmalji Agro Foods IPO allotment date?

The tentative allotment date is October 5, 2026.

What is Papadmalji Agro Foods IPO listing date?

The tentative listing date is October 7, 2026 on NSE SME.

Who is the registrar of Papadmalji Agro Foods IPO?

MAS Services Ltd. is the registrar of the Papadmalji Agro Foods IPO.

Who is the lead manager of Papadmalji Agro Foods IPO?

Kreo Capital Pvt. Ltd. is the book running lead manager of the IPO.

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    Monarch Networth Capital Limited (‘MNCL’) | CIN No.: L64990GJ1993PLC120014

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    Monarch Networth Capital Limited

    Registered Address

    Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar - 382050, Gujarat

    Corporate Address

    Ahmedabad

    “Monarch House”, Opp Prahladbhai Patel garden, Near Ishwar Bhuvan, Commerce Six Roads, Navrangpura, Ahmedabad – 380009

    Mumbai

    Monarch Networth Capital Limited, G Block, Laxmi Tower, B Wing, 4th Floor, Bandra Kurla Complex, Bandra East, Mumbai - 400051.

    Contact Details

    “Filing of complaints on SCORES – Easy & quick
    (Link is given in our useful link option on our website)

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      • II. Speedy redressal of the grievances

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