IPO Analysis
Papadmalji Agro IPO Analysis: GMP, Financials, Valuation & Risks
Papadmalji Agro IPO is open on NSE SME with a price band of 69 to 72 and zero GMP as of 30 Sept 2026, 2:47 am IST.
· 5 min read
AI wrote this article from prospectus and exchange data, and software checked its figures against that data before publishing. How our content is made
Summary
Papadmalji Agro IPO is an SME issue on NSE SME, currently open. The price band is 69 to 72 per share, the issue size is Approx 20.18 Crores, and the unofficial grey market premium is 0 as of 30 Sept 2026, 2:47 am IST.
The company has shown revenue and profit growth across the reported periods, while the available notes also point to concentration and supply-chain risks.
IPO snapshot
| Particulars | Details |
|---|---|
| IPO type | SME |
| Exchange | NSE SME |
| Issue type | Book build Issue |
| Price band | 69 to 72 Per Share |
| Face value | 10 Per Equity Share |
| Issue size | Approx 20.18 Crores |
| Fresh issue | Approx 18.52 Crores |
| Offer for sale | Approx 2,30,400 Equity Shares |
| Stage | OPEN |
Dates table
| Event | Date |
|---|---|
| Open | September 29, 2026 |
| Close | October 1, 2026 |
| Allotment | October 5, 2026 |
| Refunds | October 6, 2026 |
| Credit to demat | October 6, 2026 |
| Listing | October 7, 2026 |
Lot size table
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3200 | 2,30,400 |
| Retail Maximum | 2 | 3200 | 2,30,400 |
| S-HNI Minimum | 3 | 4800 | 3,45,600 |
| S-HNI Maximum | 8 | 12,800 | 9,21,600 |
| B-HNI Minimum | 9 | 14,400 | 10,36,800 |
Business
The available disclosures do not include a detailed business description here. The promoters are Jai Agarwal and Premlata Agarwal.
From an analysis view, the company has been assessed with a fundamentals score of 7 out of 10, while the risk meter is 4 out of 10. That suggests the issue has some operating strength, but the risk profile is not low.
Financials
| Period ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 25.00 | 24.76 | 0.25 | 26.86 |
| 2024 | 26.29 | 24.16 | 2.11 | 25.05 |
| 2025 | 31.76 | 27.04 | 4.72 | 20.07 |
| June 2025 | 8.10 | 6.04 | 1.81 | 14.10 |
The reported numbers show revenue rising from 25.00 in 2023 to 31.76 in 2025, while PAT increased from 0.25 to 4.72 over the same period.
Valuation
| Metric | Value |
|---|---|
| EPS (Basic) | 6.93 |
| RONW | 43.23% |
| NAV | 16.03 |
| PE ratio | N/A |
| ROE | -% |
| ROCE | -% |
| EBITDA margin | -% |
| PAT margin | -% |
On the available numbers, EPS is 6.93 and ROWN is 43.23%. The PE ratio is not available, so a full price-to-earnings comparison cannot be made from this data alone.
GMP
Papadmalji Agro IPO has an unofficial grey market premium of 0 as of 30 Sept 2026, 2:47 am IST. The estimated listing price is 72, which matches the top end of the price band.
| Date | Unofficial GMP | Estimated listing % |
|---|---|---|
| 2026-09-24 | 0 | 0 |
| 2026-09-25 | 0 | 0 |
| 2026-09-26 | 0 | 0 |
| 2026-09-27 | 0 | 0 |
| 2026-09-28 | 0 | 0 |
| 2026-09-29 | 0 | 0 |
| 2026-09-30 | 0 | 0 |
Interpretation: the unofficial grey market premium currently does not show any extra listing indication.
Strengths
- Revenue and PAT have improved over the reported periods.
- The analysis scores the performance at 8 out of 10.
- The analysis assigns flexibility score 8 out of 10 and time score 8 out of 10.
- The analysis note says the company has diversified revenue streams through white-label manufacturing and trading.
Risks
- High customer concentration: the top 10 customers contributed 73.09% of revenue.
- Supply chain dependency: 67.16% of raw materials came from the top 10 suppliers.
- Regulatory compliance risk, including penalties for delays in licenses.
- Operational risks from equipment failures, labor disputes, and natural calamities.
- Contingent liabilities of ₹276.84 lakhs related to income tax demand.
- Dependence on inventory management and working capital for growth.
Important dates
| Event | Date |
|---|---|
| Issue opens | September 29, 2026 |
| Issue closes | October 1, 2026 |
| Allotment finalization | October 5, 2026 |
| Refunds | October 6, 2026 |
| Credit to demat | October 6, 2026 |
| Listing on NSE SME | October 7, 2026 |
Who may find this IPO relevant
This IPO may be relevant for readers tracking SME issues on NSE SME, especially those looking at companies with improving reported profitability and a zero unofficial grey market premium.
It may also interest readers who want to compare valuation inputs like EPS and NAV, or who want to review the issue alongside the Papadmalji Agro IPO analysis page and the All IPOs listing.
FAQs
What is the price band for Papadmalji Agro IPO?
The price band is 69 to 72 per share.
What is the issue size?
The issue size is Approx 20.18 Crores.
What is the unofficial grey market premium?
The unofficial grey market premium is 0 as of 30 Sept 2026, 2:47 am IST.
When does the IPO list?
The listing date is October 7, 2026.
What is the EPS and NAV?
EPS is 6.93 (Basic) and NAV is 16.03.