Papadmalji Agro Foods Launches 20.18 Crore SME IPO

Papadmalji Agro Foods Limited launched its SME initial public offering on September 29, 2026, seeking to raise INR 20.18 crores. The offering features a price band between Rs 69 and Rs 72 per share and will remain open for subscription until October 1, 2026. The total issue consists of 2,803,200 equity shares, comprising a fresh issue of 25.73 lakh shares and an offer for sale of 2.30 lakh shares by the India Customer Insight Fund.

Based in Bikaner, Rajasthan, the company manufactures papads and moongodi under five brands, including Vishal and Papadmalji. The company intends to use the net proceeds to repay bank borrowings and fund capital expenditure for a new manufacturing facility in Bachhasar, Bikaner, which will include a 250 kW rooftop solar power system.

For the financial year ending March 31, 2026, the company reported revenue of Rs 33.53 crore and a profit after tax of Rs 5.21 crore. Shares are expected to list on the NSE SME Emerge platform on October 7, 2026.