Papadmalji Agro IPO
Papadmalji Agro IPO Listing Day Performance
Papadmalji Agro listed on NSE SME on 07 October 2026 at ₹72.30, a 0.42% premium over the issue price of ₹72. A retail investor allotted the minimum application of 3,200 shares (2 lots) gained ₹960 at the listing price.
Demand going into listing
| Subscribed overall | 2.59× |
| QIB | 86.85× |
| NII | 1.5× |
| Retail | 1.59× |
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Final |
|---|---|---|---|
| QIB | — | 86.85x | 86.85x |
| NII | — | 0.51x | 1.50x |
| bNII > ₹10L | — | 0.69x | 1.93x |
| sNII 2-10L | — | 0.15x | 0.64x |
| Retail | — | 0.79x | 1.59x |
| Total | 1.33x | 1.66x | 2.59x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | June 2025 |
|---|---|---|---|---|
| Revenue | 25.00 | 26.29 | 31.76 | 8.10 |
| Expense | 24.76 | 24.16 | 27.04 | 6.04 |
| Profit (PAT) | 0.25 | 2.11 | 4.72 | 1.81 |
| Total Assets | 26.86 | 25.05 | 20.07 | 14.10 |
Promoters & Holding Pattern
Promoters: Jai Agarwal and Premlata Agarwal
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 41,59,017 | 60.98% |
| Promoter Holding Post Issue | 41,59,017 | 44.28% |
Strengths & Risks
- Strong institutional (QIB) demand — 86.9x.
- Revenue grew 21% in the latest reported year.
- Solid profit margin — 14.9%.
- Strong return on equity — 39%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Promoter stake drops to 44% after the issue.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
From this issue's live data. Not investment advice — read the RHP.
Company Information
Papadmalji Agro at a glance
From the company's description: “Papadmalji Agro Foods Limited, incorporated in December 2017, began its journey by manufacturing and selling papads and related food products.”
Papadmalji Agro is raising ₹20.18 crore through an IPO on the NSE Emerge (SME). Of that, ₹18.52 crore is a fresh issue — new shares, with the money going to the company — and ₹1.66 crore is an offer for sale by existing shareholders, who keep those proceeds; 92% of the issue therefore reaches the business. Main stated uses of the fresh money: Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks (₹8.6 crore), Funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of plant and mac… (₹7.82 crore) and Funding incremental working capital requirements of the Company (₹2.81 crore).
Revenue went from ₹25 crore in 2023 to ₹31.76 crore in 2025, up 27% over 2 years. Profit after tax went from ₹0.25 crore to ₹4.72 crore, a net margin of 15% in the latest year.
The promoter, Jai Agarwal and Premlata Agarwal, holds 61% before the issue and 44% after it — a dilution of 16.7 percentage points. At the upper end of the price band it is priced at 13 times post-issue earnings. Debt stands at 0.62 times equity.
Written from the issue's offer-document figures shown on this page. Not investment advice.
Company Contact Information
Papadmalji Agro Foods Ltd., Opp. Manav Bharti School,, Garsisar,, Bikaner, Rajasthan, 334001
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 | 7.82 |
| Installation of 125 kW Rooftop Solar Power System at existing Garsisar Unit, Bikaner | 0.31 |
| Funding incremental working capital requirements of the Company | 2.81 |
| Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks | 8.60 |
| General Corporate Purposes | - |
Resources & Documents
IPO Documents
Draft Red Herring ProspectusPapadmalji Agro IPO - Quick Take
Papadmalji Agro has set a price band of Rs 69–Rs 72 per share for an issue size of Rs 20 crore. The stock listed with a 0.42% gain versus its issue price on October 07, 2026.
The issue is promoted by Jai Agarwal and Premlata Agarwal with Kreo Capital Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of pla… (Rs 8 crore) and installation of 125 kW Rooftop Solar Power System at existing Garsisar Unit, Bikaner (Rs 0 crore).
At the upper end of the price band, the issue is priced at a post-issue P/E of 12.97x. On fundamentals, the company is posting revenue growth of 20.8%, a profit margin of 14.9%, return on equity of 38.5% in its most recent reported period.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Papadmalji Agro IPO: Lead Manager & Registrar Track Record
How the firm running this issue and its registrar have fared on the other IPOs we track. Each firm's figures leave out Papadmalji Agro itself, so they describe what came before it.
- Papadmalji Agro listed at +0.4% on day one; the median of 193 listings was +1.7% (better than 47% of them).
- Subscribed 2.59x against a median of 4.03x across 192 issues (higher than 43%).
- Average listing-day move across all 194 SME listings we track: +11.6%.
| Firm | Other IPOs | Listed at / above issue | Avg move | Median |
|---|---|---|---|---|
| Kreo Capital Pvt. Ltd. Lead manager | First we track | — | — | — |
| MAS Services Ltd. Registrar | 3 0 MB · 3 SME | 0% 0 of 3 | Check allotment → | |
A SEBI-registered merchant banker that runs the issue: due diligence, drafting the offer document, setting the price band with the company, and marketing the IPO to investors.
Finalises the basis of allotment, credits shares to demat accounts, releases blocked funds for unsuccessful bids and handles investor queries about the issue.
Listing-day move = exchange opening price vs issue price (band ceiling where the final price isn't recorded). Counts cover IPOs we track only. Past listings don't predict this one; this is not investment advice.
Frequently Asked Questions
Papadmalji Agro IPO GMP — What It Means
No grey market premium was recorded for Papadmalji Agro before it listed.
See the full Papadmalji Agro GMP history and trend, or learn how grey market premium works and how reliable it is.
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