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Papadmalji Agro Foods Limited, incorporated 2017 and based in Bikaner, Rajasthan, manufactures papads and related food products under brands Zhakaas, Vishal, Rozana, Diamond and Papadmalji (D2C). Uses a hybrid Batara-Batari model (home-based women rolling papads under contractor oversight) alongside machine-based production lines. Sold across 21 states and 3 Union Territories, with Middle East exports via a merchant exporter. Issue: fresh Rs 18.52 Cr + OFS Rs 1.66 Cr.