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Papadmalji Agro Foods IPOLISTED

NSESMEBook Built Issue

Papadmalji Agro Foods Limited manufactures and markets papads and related food products, including hand-made, machine-made, ready-to-fry and specialty papads under brands such as Zhakaas, Vishal and Papadmalji.

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Listing price

₹72.3

+0.42%

Current price

—

Not available

Issue price

₹72

Upper band

Listed on

07 Oct 26

PAPADMALJIAGROFOODS

Opens

29 Sept 26

Closes

01 Oct 26

Allotment

05 Oct 26

Refund

06 Oct 26

Demat

06 Oct 26

Listing

07 Oct 26

Listed at

₹72.3

+0.42% on 07 Oct 26

Min. investment₹2,30,400

GMP₹0 · +0.0%

Subscribed2.59x

Track in the app

Overview

Price band

₹69-72

Lot size

1600 shares

Min. investment

₹2,30,400

Issue size

₹20.18 Cr

28.03 L shares

Fresh issue

₹18.52 Cr

25.73 L shares

Offer for sale

₹1.66 Cr

2.30 L shares

Face value

₹10 / share

Issue type

Book Built Issue

Listing at

NSE

Reservation

Market Maker 5.14%QIB 1.14%B-HNI 18.66%S-HNI 9.42%Individual 65.64%

Category	Shares offered	% of issue
Market Maker	1,44,000	5.14%
QIB	32,000	1.14%
NII (HNI)	7,87,200	28.08%
B-HNI	5,23,200	18.66%
S-HNI	2,64,000	9.42%
Individual	18,40,000	65.64%
Total	28,03,200	100%

Lot size & investment

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,30,400
Retail (Max)	2	3,200	₹2,30,400
S-HNI (Min)	3	4,800	₹3,45,600
S-HNI (Max)	8	12,800	₹9,21,600
B-HNI (Min)	9	14,400	₹10,36,800

Listing performance

NSE/BSE: PAPADMALJIAGROFOODS

Listing gain

+0.42%

Gain per retail lot

₹960.00

Latest vs issue

—

GMP was

—

₹72

₹72.30+0.42%

Issue price

Listing price

Latest price shows here when a live quote is available (NSE main-board stocks).

Papadmalji Agro Foods Live GMP

GMP₹0

Est. Price₹72

Est. Gain0.00%

Not enough GMP history yet to draw a trend.

GMP × retail lot ₹0GMP × S-HNI min ₹0Expected listing ~ ₹72GMP is unofficial and changes often. Data as of 11 Oct, 12:56 pm.

Subscription

11 Oct, 12:56 pm

Oversubscribed 2.59 times · 958 applications

QIB

86.85x

NII (HNI)

1.50x

S-HNI

0.64x

B-HNI

1.93x

Retail

1.59x

Total

2.59x

Total applications

958

Total bid amount

₹49.59 Cr

Category breakdown

Category	Shares offered	Shares bid	Times	Bid amount
QIB	—	—	86.85x	₹20.01 Cr
NII (HNI)	—	—	1.50x	₹8.5 Cr
B-HNI	—	—	1.93x	₹7.28 Cr
S-HNI	—	—	0.64x	₹1.22 Cr
Retail	—	—	1.59x	₹21.08 Cr
Total	—	—	2.59x	₹49.59 Cr

Financials

(₹ in crores)

Key performance indicators

As of 31 Mar 2026

ROE

38.51%

PAT Margin

15.54%

ROCE

46.47%

EBITDA Margin

25.16%

Debt to Equity Ratio

0.62

Price to Book Value

3.04

RoNW

32.29%

Valuation vs listed peers

EPS Pre IPO

₹7.64

EPS Post IPO

₹5.55

P/E Pre IPO

9.42

P/E Post IPO

12.97

Buzz AI analysis

From this IPO's filings and market data · educational, not investment advice

Revenue growth FY24 → FY26

+27.6%

Profit growth FY24 → FY26

+146.9%

ROCE

46.47%

PAT margin 15.5% and ROCE 46.5%.

Strengths & risks

Strong Distribution Network with 76 distributors and 30 wholesalers.
Diverse Brand Portfolio across five brands and multiple consumer segments.
Wide Product Range including handmade, machine-made and specialty papads.
Scalable Manufacturing combining traditional and automated production.
Experienced Promoters with over a decade of industry experience.

5.8/10

Buzz score · Neutral

From GMP, subscription and issue size

Financials7.2

Growth5.0

Business7.1

Demand4.8

Risk7.2

Objects of the issue

Purpose	Amount (₹ Cr)
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
Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks.	5.8
General Corporate Purposes.	-

Company & documents

Papadmalji Agro Foods Limited is a Bikaner, Rajasthan-based food products company engaged in the manufacturing and marketing of papads and related food products, including hand-made, machine-made, ready-to-fry and rice papads, along with vrat-special papads and moongodi. It also undertakes white-label manufacturing and trades in cereal pellets.

The Company combines traditional hand-made production with semi-automated and automated processes and markets its products under the brands Zhakaas, Vishal, Rozana, Diamond and Papadmalji.

It operates two FSSAI-licensed manufacturing units in Bikaner, with the Gharsisar unit certified under ISO 22000:2018. Its products are distributed through general trade, modern trade, quick-commerce and its D2C website, with a presence across 21 states and 3 Union Territories as of March 31, 2026.

As of March 31, 2026, the Company had a total workforce of 118 employees across management, finance, production, quality control, sales and marketing, supply chain, maintenance and other functions.

Registrar

MAS Services Ltd.

Phone: 011-2638728182

Email: ipo@masserv.com

Web: https://www.masserv.com/opt.asp

Company contact

Papadmalji Agro Foods Limited

Opp. Manav Bharti School, Garsisar, Bikaner, Rajasthan, 334001

Phone: +91 7300071153

Email: cs@papadmalji.com

Web: https://papadmalji.com/

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