Papadmalji Agro Foods Ltd

Papadmalji Agro Foods Limited was initially incorporated under the name of Papadmalji Agro Foods Private Limited', a private limited company dated December 19, 2017 with Registrar of Companies, Central Registration Centre. Subsequently, name of the Company was changed to Papadmalji Agro Foods Limited' and a fresh certificate of incorporation dated January 28, 2025 has been issued by the Central Processing Centre. The Company began business in 2012 with a small retail venture, 'Vishal Namkeen Bhandar', a sole proprietorship firm located in Rani Bazar, Bikaner, Rajasthan. It was founded by Mr. Jai Agarwal to manufacture and sell handmade papads and focus on maintaining product quality and traditional methods of preparation. The business grew steadily, introducing a variety of new papad offerings and continually introducing diverse flavors to meet evolving consumer preferences, all while staying true to the rich tradition of papad-making. The operations of the proprietorship business formed the foundation for the present business of the Company which engaged in the production and marketing of papads across India. Thereafter, Company subsequently acquired the business of sole proprietorship firm 'Vishal Namkeen Bhandar' via a Business Transfer Agreement (BTA) dated February 17, 2018, as a slump sale basis. Their operations are carried out through two manufacturing units located in Bikaner, Rajasthan, which are FSSAI licensed. with Gharsisar Unit also certified under ISO 22000:2018. Handmade papad production is carried out through the Batara-Batari model governed through Batara Agreement, involving contractors (Bataras) who supervise women workers (Bataris) engaged in home-based hand rolling of papads. Machine-based production has been introduced to support scalability, standardization, and hygiene in production. The Company source raw materials, including urad dal, moong dal, spices, and edible oils, from domestic markets, primarily within Rajasthan. Company has filed a Draft Prospectus with SEBI and is planning to issue shares via its IPO aggregating 28,48,800 equity shares consisting a fresh issue of 25,74,000 equity shares and the offer for sale of 2,74,800 equity shares.