Now Reading: Papadmalji Agro Foods IPO opens 29 September, price band ₹69-72
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Papadmalji Agro Foods IPO opens 29 September, price band ₹69-72
Papadmalji Agro Foods IPO opens 29 September, price band ₹69-72
Papadmalji Agro Foods will open its ₹20.18 crore IPO for subscription on 29 September and close on 1 October. The SME IPO, listing on NSE SME platform, has a price band of…
Papadmalji Agro Foods will open its ₹20.18 crore IPO for subscription on 29 September and close on 1 October. The SME IPO, listing on NSE SME platform, has a price band of ₹69 to ₹72 per share. Allotment is expected on 5 October and listing likely on 7 October.
The book-built issue comprises 25.73 lakh fresh shares raising ₹18.52 crore and an offer for sale of 2.30 lakh shares worth ₹1.66 crore. The lot size is 1,600 shares, requiring a retail investment of ₹1,15,200 at the upper price band. HNI investors must bid a minimum of three lots worth ₹3,45,600.
The Bikaner-based company makes handmade and machine-made papad, khichiya, moongodi, and vrat-special papad, sold under brands including Zhakaas and Papadmalji. It operates two FSSAI-licensed units. Distribution covers 21 states and three union territories, with some exports to Middle Eastern markets via an independent merchant exporter.
Indian Opinion Analysis
SME IPOs have emerged as a favoured route for regional food companies seeking growth capital, bypassing the disclosure demands of a main-board listing. Papadmalji Agro, started in 2017 in Bikaner, joins a wave of branded papad makers using public markets to scale distribution and production capacity. The ₹20.18 crore issue is modest by SME board standards, reflecting the company's niche footprint across 21 states and a handful of Gulf export points. For retail investors, the 1,600-share lot at the upper band demands ₹1.15 lakh. The real test is the subscription figure on 1 October close and the listing premium on 7 October, which will signal market appetite for small-cap food processing stories in this segment.
Source: bazaar.businesstoday.in
This brief was synthesised by AI from the source linked above.
