Papadmalji Agro Foods Limited is an Indian manufacturer and marketer of papads. The business began in 2012 as “Vishal Namkeen Bhandar,” a sole proprietorship founded by Mr. Jai Agarwal in Rani Bazar, Bikaner, Rajasthan. Initially focused on handmade papads prepared using traditional methods, the business expanded its product range and introduced different flavors to meet changing consumer preferences.
The Company acquired the proprietorship business through a Business Transfer Agreement dated February 17, 2018, on a slump-sale basis. Papadmalji Agro Foods Private Limited was incorporated on December 19, 2017, and was subsequently converted into Papadmalji Agro Foods Limited, with a fresh certificate of incorporation issued on January 28, 2025.
The Company operates two FSSAI-licensed manufacturing units in Bikaner, Rajasthan. Its Gharsisar unit is also ISO 22000:2018 certified. Handmade papads are produced through the Batara-Batari model, under which contractors supervise women workers undertaking home-based hand rolling. The Company has also introduced machine-based production to improve scalability, standardization, and hygiene. Key raw materials, including urad dal, moong dal, spices, and edible oils, are sourced from domestic markets, primarily in Rajasthan.
The Company has filed a Draft Prospectus with SEBI and plans to raise capital through an IPO comprising 28,48,800 equity shares: a fresh issue of 25,74,000 shares and an offer for sale of 2,74,800 shares.
