Papadmalji Agro Foods is set to open for public subscription on September 29, 2026, with the issue closing on October 1, 2026. According to reports from 5paisa, the company has fixed the price band at ₹69-72 per share for the public offering. The total issue size stands at ₹20.18 crore, with 28,03,200 shares on offer, of which 18,40,000 shares are being offered to the public through fresh issue and 9,63,200 shares through offer for sale. The market lot size is 1,600 shares with a minimum application of 2 lots (3,200 shares), requiring an investment of ₹2,30,400 at the upper price band of ₹72 per share.
As reported by 5paisa, the face value of equity shares is ₹10 each. The equity shares of the company are proposed to be listed on the Emerge platform of the National Stock Exchange of India Limited (NSE Emerge) on October 7, 2026. Kreo Capital Private Limited serves as the book-running lead manager to the issue, while MAS Services Limited serves as the registrar. The basis of allotment is tentatively scheduled for October 5, 2026, with refunds expected to be initiated on October 6, 2026.
According to 5paisa, Papadmalji Agro Foods Limited is a Bikaner-based food manufacturing company primarily engaged in producing papads and related traditional food products. The company's portfolio includes handmade papads, machine-made papads, rice papads or khichiya, vrat-special papads and moongodi. The business traces its origins to 2012, when promoter Jai Agarwal started a proprietorship named Vishal Namkeen Bhandar. Papadmalji Agro Foods Private Limited was subsequently incorporated in December 2017 and acquired the proprietorship business through a business transfer agreement in February 2018. It was converted into a public limited company in January 2025. The company operates two FSSAI-licensed manufacturing units in Bikaner, with its Garsisar facility being ISO 22000:2018 certified.
As reported by 5paisa, the company markets its products under brands including Zhakaas, Vishal, Rozana, Diamond and Papadmalji. Its distribution mix covers general trade, modern trade, quick commerce and its direct-to-consumer platform. Products are also supplied to selected Middle Eastern markets through a merchant exporter. As of June 30, 2025, the company's products were sold across 20 states and two Union Territories in India. The company's handmade papad production follows the Batara-Batari model, under which contractors known as Bataras supervise women workers engaged in home-based hand rolling, while machine-based production is used alongside this model for greater scale, standardisation and hygiene.
According to recent reports, Papadmalji Agro Foods plans to establish a new manufacturing unit at Bachhasar, Rajasthan, to expand its capacity. The company also plans to expand its geographical network beyond 21 states and three Union Territories into under-penetrated markets. This expansion strategy aligns with the company's growth objectives and positions it for increased market penetration across new regions.
