Papadmalji Agro Foods IPO

Papadmalji Agro Foods IPO comprises a total issue size of 28,03,200 shares. The net offer to the public is 26,59,200 shares, after excluding 1,44,000 shares allotted on a firm basis. Of the Net offer 32,000 (1.20%) are allocated to QIB , 7,87,200 (29.60%) allocated to NII 18,40,000 (69.19%) allocated to RII .

Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.

Incorporated in December 2017, Papadmalji Agro Foods Limited is engaged in the manufacturing and marketing of papads and related food products. The Company manufactures a range of products including hand-made papads, machine-made papads, machine-made ready-to-fry papads, rice papads (Khichiya), vrat-special papads and moongodi. It also undertakes white-label manufacturing of hand-made papads for clients and trades in cereal pellets under its own brand. The Company combines traditional hand-made production with semi-automated and automated machinery for dough preparation, sheeting, rolling, cutting, drying and packaging. Its products are marketed under the brands Zhakaas, Vishal, Rozana, Diamond and Papadmalji, catering to different product categories, consumer segments and distribution channels.

The Company operates through two FSSAI-licensed manufacturing units in Bikaner, Rajasthan, with its Gharsisar unit also certified under ISO 22000:2018. Hand-made papads are produced through the Batara-Batari model, under which contractors supervise women workers engaged in home-based hand rolling. The Company sources key raw materials such as urad dal, moong dal, spices and edible oils primarily from domestic markets in Rajasthan. Its products are distributed through general trade, modern trade, quick-commerce platforms and its direct-to-consumer website.

The Company has established a pan-India distribution network comprising distributors and wholesalers and had a presence across 21 states and 3 Union Territories as of March 31, 2026. It also supplies products to an independent merchant exporter, through whom its products reach selected Middle Eastern markets. Since 2018, the Company has also been supported by an equity investment from India Customer Insight Fund, a SEBI-registered Alternative Investment Fund.

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.

Competitive Strengths

Focus on purity, health and wellness.

Wide range of products with diverse variants.

Experienced Promoters and professional management team.

Extensive and well-established sales and distribution network.

Women-led hand-made production model supporting traditional manufacturing.

Multi-channel presence across general trade, modern trade, quick commerce and direct-to-consumer channels.

Papadmalji Agro Foods Ltd.'s revenue increased by 6% and profit after tax (PAT) rose by 10% between the financial year ending with March 31, 2026 and March 31, 2025.

Note:-

Operating EBITDA is provided in the financial statements.

The Papadmalji Agro Foods IPO is subscribed 2.54 times on October 1, 2026 5:54:59 PM (Day 3). The public issue subscribed 1.59 times in the individual investors category, 86.85 times in the QIB category, and 1.32 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Total Applications: 958

*Market Maker portion is not included to NII/HNI.