Papadmalji Agro Foods IPO
FMCG • ₹20cr
High risk because:
- 5 material risk factors disclosed in DRHP
- SME listing with thinner post-listing liquidity
- Revenue is heavily concentrated in the papad product segment.
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹69-72
Lot Size
1600 shares
Issue Size
₹20cr
Open
29 Sept 2026
Close
01 Oct 2026
Subscription
—
IPO Schedule
| Issue Open Date | 29 Sept 2026 |
| Issue Close Date | 01 Oct 2026 |
| Allotment Date | 05 Oct 2026 |
| Listing Date | 07 Oct 2026 |
About Papadmalji Agro Foods
Papadmalji Agro Foods engages in the manufacturing of handmade papads, machine-made papads, rice papads, vrat special papads, and moongodi, along with the trading of cereal pellets. The company also carries out white-label manufacturing of handmade papads, producing goods that clients market under their respective brand names and tailored packaging. Revenue is primarily generated through product sales under its key core brands, including Vishal, Zhakaas, and Rozana, alongside direct-to-consumer sales under the Papadmalji brand. Products are distributed across multiple sales channels, such as general trade, modern trade, quick commerce, direct-to-consumer platforms, and sales to merchant exporters for selected Middle Eastern markets. Operations are based out of manufacturing units and facilities situated in Bikaner, Rajasthan. For handmade papad production, the business utilizes a decentralized operational system involving contractors and home-based women workers who perform hand rolling according to prescribed quality specifications before final inspection.
Company Details
Founders / Promoters
Mr Jai Agarwal
Founded
2017
Registrar
Mas Services Limited
Documents
DRHP / RHP Document (PDF)
View official prospectus →
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FAQ
What is the price band of Papadmalji Agro Foods IPO?
The price band is ₹69-72 per share with a lot size of 1600 shares. Minimum investment: ₹1,15,200.
What does Papadmalji Agro Foods do?
Papadmalji Agro Foods engages in the manufacturing of handmade papads, machine-made papads, rice papads, vrat special papads, and moongodi, along with the trading of cereal pellets. The company also carries out white-label manufacturing of handmade papads, producing goods that clients market under their respective brand names and tailored packaging. Revenue is primarily generated through product sales under its key core brands, including Vishal, Zhakaas, and Rozana, alongside direct-to-consumer sales under the Papadmalji brand. Products are distributed across multiple sales channels, such as general trade, modern trade, quick commerce, direct-to-consumer platforms, and sales to merchant exporters for selected Middle Eastern markets. Operations are based out of manufacturing units and facilities situated in Bikaner, Rajasthan. For handmade papad production, the business utilizes a decentralized operational system involving contractors and home-based women workers who perform hand rolling according to prescribed quality specifications before final inspection.
Should I apply for Papadmalji Agro Foods IPO?
Papadmalji Agro Foods is a FMCG sme IPO and opens 29 Sept 2026 with a ₹69-72 price band (₹20cr issue) — subscription data is not live yet, so demand signals are unavailable. SME listings tend to be more volatile and less liquid after listing, so For a FMCG sme IPO at elevated risk (7/10), weigh DRHP financials and sector comps against the ₹69-72 band before you apply.
Who founded Papadmalji Agro Foods?
Papadmalji Agro Foods was founded by Mr Jai Agarwal in 2017.