Aaradhya Disposal IPO 2025: Date, GMP, Review, Price, Allotment Details
The Aaradhya Disposal IPO, an SME IPO from Dewas-based Aaradhya Disposal Industries Limited, opens for subscription on August 4, 2025, and closes on August 6, 2025, aiming to raise ₹45.10 crores. Priced at ₹110–₹116 per share, this IPO targets investors interested in the paper-based disposable products sector. As of July 27, 2025, the grey market premium (GMP) ranges from ₹40–₹45, suggesting potential listing gains of 34–39%. This article provides a comprehensive overview of the Aaradhya Disposal IPO, including key dates, price details, financial performance, review, and allotment process to guide investors.
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Aaradhya Disposal IPO Details
The Aaradhya Disposal IPO is a book-built SME issue comprising a fresh issue of 38.88 lakh equity shares (₹45.10 crores) with a face value of ₹10 per share. There is no offer for sale (OFS) component, as confirmed by the Red Herring Prospectus (RHP) filed on July 23, 2025. Below are the key details:
| Particulars | Details |
|---|---|
| IPO Open Date | August 4, 2025 |
| IPO Close Date | August 6, 2025 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹110 to ₹116 per share |
| Issue Size | Approx. ₹45.10 crores (38.88 lakh shares) |
| Fresh Issue | Approx. ₹45.10 crores (38.88 lakh shares) |
| Offer for Sale | Nil |
| Lot Size | 1,200 shares |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
| DRHP Draft Prospectus | Click Here |
| RHP Draft Prospectus | Click Here |
| Anchor Investors List | Click Here |
| Book Running Lead Managers | Khambatta Securities Limited |
| Registrar | Bigshare Services Pvt Ltd |
The IPO allocates 50% to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 35% to Retail Individual Investors (RIIs). The minimum investment for retail investors is ₹1,39,200 (1,200 shares at ₹116). The public issue constitutes approximately 27% of the post-issue paid-up equity share capital. No anchor investor details are available as of July 27, 2025.
Aaradhya Disposal IPO Market Lot
The Aaradhya Disposal IPO minimum market lot is 1,200 shares with a ₹1,39,200 application amount at the upper price band. Retail investors can apply for up to 2 lots (2,400 shares, ₹2,78,400), while HNIs have higher minimums, per NSE SME bidding rules effective July 1, 2025. Note: The original document incorrectly listed 2,400 shares as the minimum lot; web sources confirm 1,200 shares.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 1,200 | ₹1,39,200 |
| Retail Maximum | 2 | 2,400 | ₹2,78,400 |
| S-HNI Minimum | 3 | 3,600 | ₹4,17,600 |
| B-HNI Minimum | 8 | 9,600 | ₹11,13,600 |
Aaradhya Disposal IPO Dates
The key dates for the Aaradhya Disposal IPO are as follows:
| Event | Date |
|---|---|
| IPO Open Date | August 4, 2025 |
| IPO Close Date | August 6, 2025 |
| Basis of Allotment | August 7, 2025 |
| Refunds | August 8, 2025 |
| Credit to Demat Account | August 8, 2025 |
| IPO Listing Date | August 11, 2025 |
Investors can track subscription status on NSE or the registrar’s portal (Bigshare Services) during the subscription period. Bidding closes at 5:00 PM on August 6, with UPI mandate acceptance until 5:00 PM.
Promoters of Aaradhya Disposal IPO
The promoters are Mr. Sunil Maheshwari, Mr. Anil Maheshwari, and Mrs. Shashi Maheshwari.
About Aaradhya Disposal IPO
Founded in 2018, Aaradhya Disposal Industries Limited is a Dewas, Madhya Pradesh-based manufacturer of paper-based disposable products, including paper cups, plates, bowls, and spoons, under the brand “Aaradhya.” The company serves hotels, restaurants, and catering services (HoReCa), with 60% of FY25 revenue from HoReCa and 40% from retail and institutional clients like IRCTC and educational institutions. Operating a 30,000 sq. ft. facility in Dewas with an annual capacity of 5,000 MT, Aaradhya employs 150+ staff and sources raw materials from ITC Ltd. and West Coast Paper Mills. Its 250+ SKUs are distributed across 12 states via 100+ distributors, with exports to the UAE and Nepal contributing 5% of revenue. The company emphasizes eco-friendly products, aligning with the ban on single-use plastics in India. As of August 31, 2024, its order book stood at ₹28 crores, with 70% from repeat clients.
Aaradhya Disposal IPO Company Financial Report
Aaradhya Disposal’s financials show robust growth, driven by rising demand for eco-friendly disposables. Below is a summary of its financial performance:
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | Profit After Tax (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 86.51 | 83.92 | 2.14 | 62.54 |
| 2024 | 75.91 | 69.70 | 3.99 | 71.21 |
| 2025 | 115.96 | 101.03 | 10.27 | 83.08 |
Revenue grew by 53% and PAT by 157% from FY24 to FY25, with a 16% revenue CAGR and 119% PAT CAGR from FY23–FY25, reflecting strong market demand and operational efficiency.
Aaradhya Disposal IPO Valuation – FY2025
Key valuation metrics for Aaradhya Disposal IPO based on FY25 financials are as follows:
| KPI | Values |
|---|---|
| ROE | 44.53% |
| ROCE | 25.15% |
| EBITDA Margin | 15.69% |
| PAT Margin | 9.04% |
| Debt to Equity Ratio | 1.35 |
| Earning Per Share (EPS) | ₹10.14 (Basic, Pre-Issue) |
| Price/Earning P/E Ratio | 11.44 (at ₹116) |
| Return on Net Worth (RoNW) | 34.87% |
| Net Asset Value (NAV) | ₹29.07 |
The P/E ratio is calculated using FY25 EPS, indicating an attractive valuation for an SME IPO. Note: Post-issue EPS is estimated at ₹7.62, yielding a P/E of 15.22.
Peer Group Comparison
There are no listed peers in India’s disposable paper products sector, making Aaradhya Disposal a unique investment opportunity.
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| NA | – | – | – | – | – |
Objects of the Issue
The net proceeds from the fresh issue will be used for:
Aaradhya Disposal IPO Review
The Aaradhya Disposal IPO, opening August 4, 2025, has sparked interest, with X posts noting its ₹45.10 crore issue and ₹110–₹116 price band. The ₹45.10 crore fresh issue targets growth in the disposable paper products market, projected to grow at a 6.8% CAGR in India through 2030, driven by the single-use plastic ban and rising HoReCa demand. FY25 financials show ₹115.96 crores revenue (53% growth) and ₹10.27 crores PAT (157% growth), with a 34.87% RoNW and 1.35 debt-to-equity ratio. The P/E ratio of 11.44 (at ₹116) is compelling for an SME IPO with no listed peers, with a market cap of ₹159 crores. The GMP of ₹40–₹45 suggests a listing price of ₹150–₹161 (34–39% gains), though subscription data is unavailable as of July 27, 2025. Aaradhya’s eco-friendly focus, 250+ SKUs, and export presence enhance its appeal. Risks include high working capital needs (70% of proceeds) and raw material price volatility. Brokerages like Hem Securities (“Subscribe”) and Swastika Investmart (positive outlook) cite strong fundamentals and market tailwinds, though SME IPOs carry higher volatility.
Recommendation: Suitable for long-term investors with high risk tolerance, given robust growth, eco-friendly positioning, and attractive valuation. Short-term investors should monitor GMP and subscription trends due to potential oversubscription. Consult a financial advisor before investing.
Aaradhya Disposal IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html[](https://ipowatch.in/aaradhya-disposal-ipo-date-review-price-allotment-details/)
IPO Lead Managers aka Merchant Bankers
Company Address
Aaradhya Disposal Industries Ltd.
Plot E-1, Industrial Area No-1, A.B. Road,
Dewas, Madhya Pradesh, 455001
Phone: +91-7880132743
Email: investor@aaradhyadisposalindustriesltd.in
Website: https://www.aaradhyadisposalindustriesltd.in/[](https://ipowatch.in/aaradhya-disposal-ipo-date-review-price-allotment-details/)
Aaradhya Disposal IPO FAQs
What is Aaradhya Disposal IPO?
Aaradhya Disposal IPO is an SME IPO to raise ₹45.10 crores via a fresh issue of 38.88 lakh shares. The issue is priced at ₹110 to ₹116 per share and will list on NSE SME.
When will Aaradhya Disposal IPO open for subscription?
The IPO opens on August 4, 2025, and closes on August 6, 2025.
What is Aaradhya Disposal IPO Investors Portion?
The investors’ portion is 50% for QIB, 15% for NII, and 35% for Retail.
How to Apply for the Aaradhya Disposal IPO?
Apply via ASBA online through your bank account or UPI through stock brokers like Zerodha or Upstox. Alternatively, fill an offline IPO form and submit it to your broker.
What is Aaradhya Disposal IPO Issue Size?
The issue size is ₹45.10 crores, comprising a fresh issue of 38.88 lakh shares.
What is Aaradhya Disposal IPO Price Band?
The price band is ₹110 to ₹116 per share.
What is Aaradhya Disposal IPO Lot Size?
The minimum lot size is 1,200 shares, with a ₹1,39,200 application amount at the upper price band.
What is the Aaradhya Disposal IPO Allotment Date?
The allotment date is August 7, 2025.
What is the Aaradhya Disposal IPO Listing Date?
The listing date is August 11, 2025, on NSE SME.
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