Papadmalji Agro Foods IPO is an upcoming SME IPO scheduled to open for subscription from 29 September 2026 to 1 October 2026. The company is engaged in the manufacturing of handmade papads, machine-made papads, rice papads, vrat special papads and moongodi, along with trading of cereal pellets. The IPO is proposed to list on the NSE SME platform.
Investors looking for the latest Papadmalji Agro Foods IPO GMP, price band, IPO dates, lot size, allotment status and listing details can find the key information below.
Papadmalji Agro Foods IPO – Key Highlights
| Particular | Details |
|---|---|
| Company Name | Papadmalji Agro Foods Ltd. |
| IPO Type | SME IPO |
| IPO Open Date | 29 September 2026 |
| IPO Close Date | 1 October 2026 |
| Price Band | ₹69 – ₹72 per share |
| Lot Size | 1,600 Shares |
| Issue Size | About ₹20.18 Crore |
| Fresh Issue | About ₹17.49 Crore |
| Offer for Sale | About ₹1.66 Crore |
| Face Value | ₹10 per share |
| Listing | NSE SME |
| Allotment Date | 5 October 2026 |
| Expected Listing Date | 7 October 2026 |
| Registrar | MAS Services Limited |
| Lead Manager | Kreo Capital Pvt. Ltd. |
The above IPO schedule and issue details are reported by IPO tracking sources and should be cross-checked with the company's offer documents and exchange updates.
Papadmalji Agro Foods IPO Price Band
The price band for the Papadmalji Agro Foods SME IPO is ₹69 to ₹72 per equity share. The lot size is 1,600 shares. At the upper price band of ₹72, one lot requires approximately ₹1,15,200.
Because SME IPO application rules and lot requirements can differ from mainboard IPOs, investors should check the applicable category and current application requirements before applying.
Papadmalji Agro Foods IPO GMP Today
The latest available grey market data before the issue opening showed Papadmalji Agro Foods IPO GMP at ₹0.
GMP, or Grey Market Premium, is an unofficial market indicator. It is not an official NSE or BSE price and is not regulated by the stock exchanges. GMP can change quickly and should not be treated as a guaranteed listing-price indicator.
For this reason, investors should consider the IPO's official documents, financial performance, valuation, business model and risk factors along with any GMP information.
Papadmalji Agro Foods IPO Business Overview
Papadmalji Agro Foods operates in the food-processing segment and manufactures different types of papads and related food products.
According to available IPO information, its product portfolio includes handmade papads, machine-made papads, rice papads, vrat special papads and moongodi. The company also undertakes trading of cereal pellets.
The business operates in a segment connected with traditional Indian food products, giving the company exposure to both established consumption patterns and the broader packaged-food market.
Papadmalji Agro Foods Financial Performance
Available financial information shows growth in revenue and profit over the reported periods.
| Financial Year | Revenue (₹ Cr) | PAT (₹ Cr) | Net Worth (₹ Cr) |
|---|---|---|---|
| FY 2024 | 26.27 | 2.11 | 6.20 |
| FY 2025 | 31.75 | 4.72 | 10.93 |
| FY 2026 | 33.53 | 5.21 | 16.14 |
The figures above are reported as restated financial information in IPO-related sources. Investors should refer to the company's offer document for the complete financial statements, risks and disclosures.
Papadmalji Agro Foods IPO Important Dates
The IPO is scheduled to open on 29 September 2026 and close on 1 October 2026.
The reported timeline is:
- IPO Opens: 29 September 2026
- IPO Closes: 1 October 2026
- Allotment: 5 October 2026
- Refund/Share Credit: 6 October 2026
- Listing: 7 October 2026
IPO dates can be subject to changes, so investors should verify the final schedule through the relevant exchange, registrar and official documents.
Papadmalji Agro Foods IPO Allotment
After the IPO closes, the basis of allotment is expected to be finalized on 5 October 2026. Investors can check their allotment status through the registrar or relevant exchange platform once the allotment is finalized.
If shares are allotted, they are expected to be credited to the investor's demat account according to the IPO schedule.
Papadmalji Agro Foods IPO Listing
Papadmalji Agro Foods IPO is scheduled for listing on 7 October 2026 on the NSE SME platform.
The actual listing price will depend on market demand and trading conditions. A grey market premium, if available, does not guarantee the actual listing price.
Papadmalji Agro Foods IPO – Key Points to Check
Before applying, investors may want to review:
- IPO price and valuation
- Company's revenue and profit trend
- Business model and product portfolio
- Debt and financial obligations
- IPO objects and use of funds
- SME IPO liquidity and trading risks
- Official risk factors in the offer document
- Subscription data after bidding begins
- GMP as an unofficial indicator only
- Post-listing market conditions
Papadmalji Agro Foods IPO Review
Papadmalji Agro Foods IPO combines a food-processing business with an SME public issue. The company's reported revenue and profit increased in the latest financial periods, while its product portfolio includes several papad and traditional food categories.
However, SME IPOs can have different liquidity and trading characteristics compared with mainboard companies. Therefore, investors should not make an investment decision based only on GMP or expected listing gains.
A detailed review should consider the company's financials, valuation, industry conditions, IPO objectives and risk factors disclosed in the official offer documents.
About Company
Incorporated in 2017, Papadmalji Agro Foods Limited is a Bikaner, Rajasthan-based manufacturer of papads and related food products. The business traces its roots to Vishal Namkeen Bhandar, a sole proprietorship started in 2012, which the company took over in 2018.
Product Portfolio
- Hand-made and machine-made papads, including ready-to-fry variants
- Rice papads (khichiya) and vrat special papads
- Moongodi, a lentil-based cooking ingredient
- Traded cereal pellets sold under the company's own brand
- White-label hand-made papads produced for other brands
The company runs two FSSAI-licensed manufacturing units in Bikaner, one of which holds ISO 22000:2018 certification. Hand-made papads are produced through the Batara–Batari model, where contractors oversee women who roll papads from home, while machine-based lines handle dough preparation, sheeting, cutting, drying and packing.
Brands and Distribution
- Brands: Zhakaas, Vishal, Rozana, Diamond and Papadmalji (direct-to-consumer)
- Channels: general trade, modern trade, quick commerce and its own website
- Middle East markets served through a merchant exporter
- Products sold in 21 states and 3 union territories as of March 31, 2026
The company aims to scale machine-based production alongside its traditional hand-made range to serve more consumer segments and distribution channels.
Strengths
Extensive Distribution Network: As of March 31, 2026, the company works with 76 distributors and 30 wholesalers who together service 8,710 retail outlets in the general trade channel. The network reaches urban, semi-urban and rural areas across 12 states and 1 union territory, with Rajasthan as its core market.
Multi-Channel Presence: Besides general trade, the company sells through seven modern trade channels and one quick commerce platform on a purchase-order basis, as of March 31, 2026. One merchant exporter supplies its products to six Middle Eastern countries, and its own website serves customers directly.
Wide Range of Product Variants: The portfolio covers hand-made and machine-made papads, ready-to-fry variants, rice papads (khichiya), vrat special papads, 2D and 3D cereal pellets and moongodi, each in several flavours. In FY2026, hand-made papads contributed 41.33% of revenue from operations, machine-made papads 27.86% and rice papads 24.09%.
Risk Factors
Dependence on Limited Customers: A large share of revenue comes from a small number of customers. In FY2026 the top 10 customers contributed 45.94% of revenue from operations and the largest customer 9.08%, compared with 69.25% and 19.84% in FY2025. Losing a key customer or a cut in orders could hurt revenue and cash flows.
Supplier Concentration Without Contracts: Key raw materials such as urad dal, moong dal, flours, edible oils and spices are bought from third-party suppliers without long-term contracts. The top 10 suppliers accounted for 61.02% of purchases in FY2026. Supply disruptions or price increases could affect production, costs and profitability.
Reliance on Sales Channels: Sales depend on general trade, modern trade, quick commerce, direct-to-consumer and merchant exporter channels, each with different operating terms. General trade provided 57.91% and modern trade 40.74% of FY2026 revenue from operations. Disruption or underperformance in any channel could reduce sales and profitability.
Conclusion
Papadmalji Agro Foods SME IPO is scheduled for subscription from 29 September to 1 October 2026, with a price band of ₹69–₹72 and a lot size of 1,600 shares. The company operates in the food-processing segment and manufactures several varieties of papads and related products.
Investors should review the official offer documents, financial statements, valuation and risk factors before making any investment decision. GMP is only an unofficial indicator and does not guarantee the listing price or returns.
For the latest IPO updates, GMP, allotment status and upcoming IPO information, visit newipo.info.
Frequently Asked Questions
What is Papadmalji Agro Foods IPO?
Papadmalji Agro Foods IPO is an SME public issue of Papadmalji Agro Foods Ltd., a company involved in manufacturing papads, moongodi and related food products.
When will Papadmalji Agro Foods IPO open?
The IPO is scheduled to open on 29 September 2026.
When will Papadmalji Agro Foods IPO close?
The IPO is scheduled to close on 1 October 2026.
What is Papadmalji Agro Foods IPO price band?
The price band is ₹69 to ₹72 per share.
What is the Papadmalji Agro Foods IPO lot size?
The reported lot size is 1,600 shares.
What is Papadmalji Agro Foods IPO GMP today?
The latest available GMP data before opening showed ₹0. GMP is unofficial and can change at any time.
When is Papadmalji Agro Foods IPO allotment?
The reported allotment date is 5 October 2026.
When will Papadmalji Agro Foods IPO list?
The scheduled listing date is 7 October 2026 on NSE SME.
Is Papadmalji Agro Foods IPO mainboard or SME?
Papadmalji Agro Foods is an SME IPO.