Papadmalji Agro Foods (New IPO): GMP, Profit, Price & expert review

Papadmalji Agro Foods Limited is based in Bikaner,Rajasthan. A leading manufacturer of traditional and machine-made papads, moongodi, and cereal pellets. The company operates through a unique “Batara-Batari” model, empowering local women artisans to produce authentic handmade goods while integrating automated technology for scalability and hygiene across brands like “Zhakaas” and “Papadmalji.”

As of June 30, 2025, Papadmalji Agro Foods Limited has a distribution network of 68 distributors and 25 wholesalers. This network services 5,965 retail outlets across 20 states and 2 Union Territories in India, supplemented by a presence in quick commerce and exports to the Middle East.

Papadmalji Agro Foods Limited was incorporated on December 19, 2017 and is currently led by Mr. Jai Agarwal.

It specializes in traditional Bikaneri snacks including hand-rolled and machine-made papads (Urad, Moong, and Chana variants), Khichiya (rice papads), Moongodi (lentil nuggets), Cereal Pellets, and Papad Choori, marketed under brands like Zhakaas and Papadmalji.

Papadmalji Agro Foods Limited has filed DRHP for proposed IPO consisting of 2,848,800 equity shares, comprising a Fresh Issue of 2,574,000 shares and an Offer for Sale (OFS) of 274,800 shares.

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Issue Size:28,48,800 Equity
Shares
Fresh Issue:25,74,000 Equity
Shares
Offer for Sale:2,74,800 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Papadmalji Agro Foods Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 10.92 Cr
Revenue:₹ 31.75Cr
EBITDA₹ 5.98 Cr
PAT₹ 4.72Cr
EBITDA Margin:~18.84%
PAT Margin~14.88%
Face Value:NIL

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Working capital requirement~ ₹ 2.81 Cr
Installation of equipment & machinery~ ₹ 8.60 Cr
Capital expenditure~ ₹ 8.13 Cr
General Corporate PurposeBalance

Papadmalji Agro Foods Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 25.0₹ 26.3₹ 31.8
PAT (₹ Cr)₹0.3₹ 2.1₹ 4.7
Asset (₹ Cr)₹ 14.1₹ 20.1₹ 25.1
Net Worth (₹ Cr)₹ 4.1₹ 6.2₹10.9

Papadmalji Agro Foods Ltd IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
12-Mar₹ –₹ –₹ –
11-Mar₹ –₹ –₹ –
10-Mar₹ –₹ –₹ –
09-Mar₹ –₹ –₹ –
08-Mar₹ –₹ –₹ –
Papadmalji Agro Foods

Papadmalji Agro Foods Limited IPO Pros & Cons

Strengths:

Risks:

Papadmalji Agro Foods Limited Promoters – Pre offer equity (Approx)

Promoters%Shares
Jai Agarawal~52.79%
Premlata Agarwal~8.18%

Papadmalji Agro Foods Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)1₹ –
Retail (Max)13₹ –
HNI (Min)14₹ –
HNI (Max)66₹ –
Big HNI (Min)67₹ –

Papadmalji Agro Foods Limited Lead Managers / Registrars of

Lead / Book Running Lead ManagersKreo Capital Private Limited
Registrar (RTA)MAS Services Limited.

Papadmalji Agro Foods Limited FAQ

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