Aaradhya Disposal IPO Live GMP Today 2025: Complete Analysis, Financials, Dates, LotSize, RHP Should You Invest?

The Aaradhya Disposal IPO (Initial Public Offering) is generating significant buzz in the SME segment. With its subscription window opening shortly, investors are keenly searching for detailed, reliable information. This definitive guide covers everything you need – live GMP updates, financial deep dive, risk assessment, allotment process, and a clear investment recommendation. Designed for both seasoned and new investors, this analysis leverages the latest data to help you make an informed decision.

About IPO Details: The Core Facts

Aaradhya Disposal Industries Ltd. is entering the public markets with a fresh issue of shares, aiming to raise capital for growth and financial management.

• Issue Type: 100% Fresh Issue
• IPO Size: ₹45.10 Crores
• Price Band: ₹110 to ₹116 per share
• Face Value: ₹10 per share
• Market Lot: 1,200 Shares
• Minimum Investment (Retail): ₹2,64,000 (2,400 Shares – 2 Lots)
• Listing Exchange: NSE SME
• Issue Opens: August 4, 2025 (Monday)
• Issue Closes: August 6, 2025 (Wednesday)
• Lead Manager: Khambatta Securities Limited
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Prabhat Financial Services Ltd.

Shareholding Structure:

• Pre-IPO Shares: 1,02,50,000 Shares
• Fresh Issue: 38,88,000 Shares
• Post-IPO Shares: 1,41,38,000 Shares
• Market Maker Reservation: 1,94,400 Shares (5% of Issue)

Net Issue to Public: 36,93,600 Shares (Aggregating ₹42.85 Crores)

About Aaradhya Disposal Industries Ltd.: The Company Behind the IPO

Established in January 2014 and headquartered in Dewas, Madhya Pradesh, Aaradhya Disposal Industries is a manufacturer and exporter of specialized paper products. The company caters to the growing demand for sustainable packaging solutions.

• Core Business: Manufacturing of paper cup blanks, ripple paper, coated paper rolls, and a range of food-grade papers (Greaseproof, Wet Strength, OGR, Parchment, TDL Poster).
• Product Portfolio:
  • Paper Cup Blanks (PE coated, PLA coated, Barrier coated)
  • Food Grade Papers (Wide range for food packaging safety)
• Sustainability Focus: Emphasis on biodegradable and environment-friendly products.
• Manufacturing: Operates two manufacturing plants in Dewas, MP.
  • Combined Installed Capacity: 12,000 Metric Tonnes Per Annum (MTPA)
  • Total Area: 55,151 Sq. Ft.
• Market Reach: Serves both domestic (Indian) and international markets (Asia, Middle East).
• Competitive Strengths:
  • Advanced Technology Machineries.
  • Diverse product portfolio meeting varied customer needs.
  • Direct-to-customer sales model (eliminates intermediaries).
  • Commitment to high-quality standards.
  • Strategic location in Central India for efficient logistics.
• Employees: 33 Permanent Employees (as of November 25, 2024).

IPO GMP (Grey Market Premium) & Expected Listing Gain

The Grey Market Premium (GMP) is an unofficial indicator of investor sentiment and potential listing price. It reflects the premium investors are willing to pay for the shares in the grey market before the official listing.

• Current GMP (Est.): ₹1- ₹2 (As of August 1, 2025)
• Interpretation: Positive GMP indicates strong demand and anticipation of listing gains.
• Expected Listing Price Range: ₹116 to ₹118 per share
• Expected Listing Gain: Approximately 0%
• Kostak Rate: ₹3,000 – ₹3,600 per lot (1,200 shares). This represents the premium paid for a confirmed application lot in the grey market.

Note: GMP fluctuates daily. Check our IPO GMP Tracker for real-time updates.

Important Caveats:

• GMP is highly speculative and volatile. It can change dramatically based on market sentiment, subscription levels, and overall market conditions.
• It is not an official metric and carries inherent risk.
• Past GMP performance is not a guarantee of future listing price or gains.
• Always base investment decisions on fundamental company analysis and risk assessment, not solely on GMP.

IPO Company Financial Data (₹ Crores)

Aaradhya Disposal has shown impressive growth in recent years, particularly in FY25. Here’s a breakdown of key financial metrics:

Table 1: Aaradhya Disposal Financial Performance (Restated Standalone)

Financial Analysis:

• Explosive Growth: FY25 witnessed remarkable growth – Revenue surged 53%, PAT skyrocketed 157%, and EBITDA jumped 145%. This indicates strong operational performance and market demand.
• Profitability Improvement: Significant margin expansion driven by increased scale and potentially better product mix or cost control.
• Strengthening Balance Sheet: Net Worth increased substantially (77%), reflecting retained earnings growth. Borrowings decreased by 12%, showing improved financial health.
• Asset Base Growth: Assets grew steadily, supporting the revenue expansion.

Also Read: Parth Electricals IPO Live GMP Today 2025: Complete Analysis, Financials, Dates, LotSize, RHP

IPO Application & Lot Size Details

Understanding the application mechanics is crucial:

• Lot Size: 1,200 Shares
• Retail Investor:
  • Minimum Investment: 2 Lots (2,400 Shares) = ₹2,64,000 (at upper band ₹116)
  • Maximum Investment: 2 Lots (2,400 Shares) = ₹2,64,000 (Retail category cap is ₹2 Lakhs application amount, but the investment required is ₹2.64 Lakhs. This is standard for SME IPOs where the lot size often leads to application values >₹2 Lakhs. Retail investors can still apply for the minimum 2 lots).
• S-HNI (Small HNI):
  • Minimum Investment: 3 Lots (3,600 Shares) = ₹4,17,600
  • Maximum Investment: 7 Lots (8,400 Shares) = ₹9,74,400
• B-HNI (Big HNI):
  • Minimum Investment: 8 Lots (9,600 Shares) = ₹11,13,600
  • (No specified upper limit beyond overall issue size constraints).

How to Apply:

1. ASBA Process: Mandatory for all investors. Apply via your bank’s net banking platform or through your broker’s trading platform (Zerodha, Groww, Upstox, etc.).
2. Select Category: Ensure you apply under the correct category (Retail, HNI).
3. UPI Mandate: Retail investors typically use UPI. The cut-off time for UPI mandate confirmation is 5 PM on August 6, 2025. Ensure you approve the mandate promptly in your UPI app.
4. Details: Enter correct Demat account, PAN, and bank details.

IPO Reservation Quota (Category-wise Allocation)

The shares are allocated across different investor categories as per SEBI guidelines:

Table 2: Aaradhya Disposal IPO Reservation Quota

• Market Maker: Reserved for the designated entity (Prabhat Financial Services Ltd.) to provide liquidity post-listing.
• QIB: Includes FIIs, DIIs (Mutual Funds, Insurance Companies), Banks, etc. This quota is undersubscribed relative to others in SME IPOs.
• NII/HNI: Investors applying for more than ₹2 Lakhs worth of shares (application amount). Split into S-HNI (Up to ₹10 Lakhs) and B-HNI (Above ₹10 Lakhs).
• Retail (RII): Individual investors applying for up to ₹2 Lakhs worth of shares (application amount). Minimum application is 2 lots (₹2.64 Lakhs investment).

IPO Promoter Holding Details

The promoters are the founding members driving the company’s vision:

• Promoters: Mr. Sunil Maheshwari, Mr. Anil Maheshwari, Mrs. Shashi Maheshwari.
• Pre-IPO Holding: 97.36% (1,02,50,000 Shares)
• Post-IPO Holding: 70.58% (1,02,50,000 Shares – Remains unchanged; dilution occurs due to new shares issued)
• Promoter Dilution: 26.78% (97.36% – 70.58%). This dilution funds the company’s growth plans without the promoters selling their existing stake. It signals commitment.

Objective of the Issue (Use of Proceeds)

The net proceeds from the fresh issue will be utilized for specific corporate purposes:

• Working Capital Requirement (₹20.00 Crores): To finance day-to-day operational needs, purchase raw materials, and manage inventory as the business scales.
• Expansion – Capex (₹15.86 Crores): To fund the purchase of new Plant & Machinery and associated Civil Work, increasing production capacity and efficiency.
• Prepayment of Term Loans (₹1.60 Crores): To reduce the company’s debt burden, leading to lower interest costs and improved financial health.
• General Corporate Purposes (Balance Amount): To meet other operational and administrative expenses.

IPO Timeline (Tentative Schedule)

Mark these critical dates in your calendar:

Table 3: Aaradhya Disposal IPO Key Dates

Investment Limits Summary:

• Retail (RII): Min ₹2,64,000 (2 Lots) – Max ₹2,64,000 (2 Lots) [Application value cap is ₹2 Lakhs, investment is higher].
• S-HNI: Min ₹4,17,600 (3 Lots) – Max ₹9,74,400 (7 Lots).
• B-HNI: Min ₹11,13,600 (8 Lots) – No defined max per application (subject to overall quota).
• QIB: Min/Max per SEBI guidelines and fund mandates.

IPO Investor Category Reservations

As detailed in Section 6 (Table 2), the reservation is:

• QIB: 4.75%
• NII (HNI): 45.12%
• Retail (RII): 45.12%
• Market Maker: 5.00%

IPO Anchor Investor Details

• Status: Based on the RHP details provided, the Aaradhya Disposal IPO does not have an anchor investor portion. The entire net issue (after market maker) is allocated to QIB, NII, and RII categories.
• Implication: The absence of anchor investment is common in SME IPOs. It shifts focus entirely to subscription demand from QIB/NII/RII during the public issue period.

Also Read: National Securities Depository Limited (NSDL) IPO Live GMP Today 2025: Analysis, Financials, Price, Dates, Allotment

Key Performance Indicators (KPIs)

These ratios help assess the company’s operational efficiency, profitability, and valuation:

Table 4: Aaradhya Disposal Key Performance Indicators (KPIs) – As of March 31, 2025

KPI Analysis: The company exhibits outstanding profitability metrics (RoE, RoCE, RoNW) and significantly improved margins (PAT, EBITDA). The D/E ratio is manageable and improving. The Pre-IPO P/E appears reasonable, while the Post-IPO P/E is higher but potentially justified by high growth rates if sustained. High RoE/RoNW are major positives.

IPO Risk Factors

Investing involves risks. Key risks outlined in the RHP include:

• Business & Operational Risks:
  • Customer Concentration: Risk if reliant on a few large customers (customer details not specified in snippet).
  • Raw Material Price Volatility: Dependence on paper pulp and coatings; price fluctuations impact margins.
  • Working Capital Intensity: Manufacturing business requires significant ongoing working capital.
  • Capacity Utilization: Post-expansion, achieving high utilization is critical for ROI.
  • Competition: Intense competition in the paper packaging industry.
  • Dependence on Promoters: Key management roles held by promoters.
• Industry & Regulatory Risks:
  • Environmental Regulations: Strict compliance needed for manufacturing; potential cost increases.
  • Changes in Food Safety Standards: Impacts requirements for food-grade papers.
  • Import/Export Regulations: Affects international business and raw material sourcing.
  • Plastic Ban Dynamics: Growth linked to substitution by paper; changes in policy or alternatives pose risk.
• Financial Risks:
  • Leverage: Despite reduction, borrowings exist (D/E 1.35); interest rate hikes increase cost.
  • Margin Sustainability: FY25 margins are exceptional; maintaining them is crucial.
  • Growth Execution Risk: Ability to effectively utilize IPO proceeds for expansion and WC needs.
  • SME Segment Volatility: SME stocks can be more volatile and less liquid than mainboard stocks.

Company Contact Details

• Aaradhya Disposal Industries Ltd.
• Registered Office: Plot E-1, Industrial Area No-1, A.B. Road, Dewas, Madhya Pradesh – 455001
• Phone: +91-7880132743
• Email: cs@aaradhyadisposalindustriesltd.in
• Website: https://www.aaradhyadisposalindustriesltd.in/

IPO Registrar Details

Bigshare Services Pvt Ltd handles allotment, refunds, and investor communications.

• Registrar: Bigshare Services Pvt Ltd
• Phone: +91-22-6263 8200
• Email: ipo@bigshareonline.com
• Website: https://ipo.bigshareonline.com/IPO_Status.html
• IPO Status/Allotment Link: (Available on their website during/post allotment)

IPO Recommendation: Subscribe or Not?

Analysis Summary:

• Strengths:
  • Exceptional Financial Growth: Stellar FY25 performance (Revenue +53%, PAT +157%).
  • Outstanding Profitability Metrics: RoE (44.5%), RoCE (25.2%), RoNW (34.9%) are industry-leading.
  • Margin Expansion: Significant improvement in PAT (9.0%) and EBITDA (15.7%) margins.
  • Debt Reduction: Borrowings decreased by 12% YoY; further prepayment planned from IPO proceeds.
  • Favourable Industry Trend: Beneficiary of plastic bans and rising demand for sustainable packaging.
  • Promoter Commitment: High post-IPO holding (70.58%) signals alignment with shareholders.
  • Positive GMP Sentiment: Indicates strong market demand expectation.
• Weaknesses/Risks:
  • SME Segment: Inherently higher volatility and lower liquidity.
  • Valuation: Post-IPO P/E of ~16x requires sustained high growth to justify.
  • Execution Risk: Critical to utilize IPO funds effectively for expansion and maintain FY25 growth/margins.
  • Customer/Supplier Concentration: Risk if highly concentrated (RHP details needed).
  • Limited Track Record at Scale: FY25 is standout; consistency needs monitoring.

Recommendation: SUBSCRIBE (With a Medium-Term View)

• Rationale: The combination of explosive growth, stellar profitability, improving financial health, a strong industry tailwind, and reasonable pre-IPO valuation outweighs the risks associated with the SME segment and the challenge of sustaining peak performance. The high RoE/RoCE suggests inherent operational efficiency.
• Risk Tolerance: Suitable for investors with a moderate to high risk appetite comfortable with SME volatility.
• Horizon: Primarily suited for investors with a medium-term outlook (1-3 years) to capture growth potential post-expansion, though listing gains seem likely based on GMP. Long-term depends on sustained execution.
• Neutral/Avoid View: Might be considered if an investor has very low risk tolerance, avoids SMEs entirely, or believes FY25 performance is an unsustainable peak.

IPO Allotment & Refunds Process

• How to Check Allotment Status (Tentative: Aug 7, 2025):
  1. Registrar Website: Visit Bigshare Services IPO Status page: https://ipo.bigshareonline.com/IPO_Status.html
  2. Select IPO: Choose “Aaradhya Disposal Industries Ltd.” from the dropdown.
  3. Enter Details: Use either your PAN Number, Application Number, or DP Client ID.
  4. View Status: Your allotment status (Number of shares allotted or not allotted) will be displayed.
• Refund Timelines:
  • If Not Allotted: The blocked amount (ASBA) or refund will be initiated by August 8, 2025. The time taken to reflect in your account depends on your bank (typically 1-3 working days).
  • If Partly Allotted: Refund for the unallotted portion will be initiated by Aug 8, 2025.
• Payment Methods: Refunds are processed electronically back to the bank account linked to your ASBA application.
• Actions After Allotment:
  • Shares Credited: Allotted shares will be credited directly to your Demat account by August 8, 2025.
  • Hold or Sell Decision:
    • Hold (Medium-Term): If you believe in the company’s growth story post-expansion and strong fundamentals (high RoE, margin potential). Suitable for risk-tolerant investors.
    • Sell on Listing (Profit Booking): If listing gains (expected 21-26% based on GMP) meet your target, especially if you are risk-averse or see the valuation as fair/full post-listing. Common strategy for SME IPOs targeting listing pops.
    • Monitor: Track the company’s quarterly results post-listing, especially progress on expansion and margin trends, to decide on holding longer term.

IPO RHP/DRHP: The Foundation Document

• RHP (Red Herring Prospectus): This is the final offer document filed with SEBI and NSE. It contains all crucial details about the IPO, the company, its financials, risks, objectives, promoters, and legal matters. It supersedes the DRHP.
• DRHP (Draft Red Herring Prospectus): The initial document filed with SEBI to seek approval for the IPO. It may not contain the final price band or offer size.
• Importance: The RHP is the single most authoritative source of information for investors. Always refer to the RHP before investing.
• Where to Find: The Aaradhya Disposal IPO RHP is available on:
  • Download Red Herring Prospectus: Aaradhya Disposal IPO RHP
  • Download Red Herring Prospectus: Aaradhya Disposal IPO DRHP

IPO Review: Pros, Cons & Final Verdict

Pros:

1. Exceptional Financial Performance: Stellar growth in Revenue (53%) and PAT (157%) in FY25.
2. Superior Profitability: Industry-leading RoE (44.5%), RoCE (25.2%), RoNW (34.9%).
3. Margin Powerhouse: Strong and significantly improved PAT (9.0%) and EBITDA (15.7%) margins.
4. Healthy Balance Sheet Improvement: Reduced debt (D/E down to 1.35), increased net worth.
5. Favourable Market Dynamics: Operating in the high-growth sustainable packaging space driven by plastic bans.
6. Clear Use of Proceeds: Funds allocated for expansion (Capex), working capital, and debt reduction.
7. High Promoter Skin in the Game: 70.58% holding post-IPO signals strong commitment.
8. Positive Grey Market Sentiment (GMP): Indicating strong demand and listing gain potential.
9. Reasonable Pre-IPO Valuation (P/E ~11.6x): Relative to growth and profitability.

Cons:

1. SME Stock Volatility & Liquidity: Higher risk profile compared to mainboard stocks.
2. Post-IPO Valuation Stretch (P/E ~16x): Requires sustained high growth to justify.
3. Execution Risk: Critical challenge to utilize IPO funds effectively and maintain FY25 momentum.
4. Sustainability of Peak Performance: FY25 results are outstanding; replicating them consistently is key.
5. Potential Customer/Supplier Concentration: Lack of detailed disclosure in snippet is a minor red flag.
6. Limited Operating History at Scale: FY25 is the standout year; longer track record under current scale is limited.

Final Verdict:
The Aaradhya Disposal IPO presents a compelling opportunity, primarily driven by its outstanding FY25 financial performance, exceptional profitability metrics, and positioning in a growing sustainable packaging market. While the SME tag brings inherent volatility and the post-IPO valuation demands continued high growth, the fundamental strengths – particularly the high RoE and margin profile – are significant positives. The positive GMP reinforces demand. For investors comfortable with the risks of the SME segment and seeking exposure to a high-growth niche, a “SUBSCRIBE” rating is warranted, primarily with a medium-term view to capture business expansion benefits, alongside likely listing gains. Thoroughly reviewing the RHP is essential.

Aaradhya Disposal IPO FAQs (Frequently Asked Questions)

1. What is the Aaradhya Disposal IPO?
   • It’s an Initial Public Offering where Aaradhya Disposal Industries Ltd. (an SME paper product manufacturer) is issuing 38.88 lakh fresh shares to raise ₹45.10 Crores. The price band is ₹110-₹116 per share.
2. When does the Aaradhya Disposal IPO open and close?
   • Opens: August 4, 2025 (Monday)
   • Closes: August 6, 2025 (Wednesday)
3. What is the lot size and minimum investment?
   • Lot Size: 1,200 Shares.
   • Minimum Investment (Retail): ₹2,64,000 (for 2 lots = 2,400 shares @ ₹116).
4. How can I apply for the IPO?
   • Apply via ASBA through your bank’s net banking or your stock broker’s platform (Zerodha, Groww, Upstox, etc.). Use UPI for mandate approval (Retail). Ensure approval by 5 PM on Aug 6th.
5. When is the allotment date?
   • Tentative Allotment Date: August 7, 2025 (Thursday).
6. When will shares be credited to my Demat account?
   • Tentative Credit Date: August 8, 2025 (Friday).
7. When is the listing date?
   • Tentative Listing Date: August 11, 2025 (Monday) on NSE SME.
8. How can I check my allotment status?
   • Visit the Registrar’s (Bigshare Services) website after Aug 7th: https://ipo.bigshareonline.com/IPO_Status.html. Use PAN, Application Number, or DP ID.
9. What is the current GMP?
   • As of Aug 1, 2025: ₹25-₹30. Indicating an expected listing price of ₹135-₹146 and listing gain of ~21-26%. (Check sources closer to listing for updates).
10. Should I invest in the Aaradhya Disposal IPO?
    • The recommendation is “SUBSCRIBE” for investors with moderate-high risk tolerance, attracted by strong FY25 growth, exceptional profitability (RoE 44.5%), and the sustainable packaging theme. However, consider SME risks, the need to justify post-IPO valuation (P/E ~16x), and the challenge of sustaining performance. Review the RHP carefully before deciding. Targeting listing gains or medium-term holding are both viable strategies depending on risk appetite.

Conclusion

The Aaradhya Disposal IPO offers a window into a high-growth SME player within the sustainable packaging sector. Its blockbuster FY25 performance, characterized by surging revenue, soaring profits, and best-in-class profitability ratios (RoE, RoCE), forms the core of its appeal. While the SME segment demands caution due to volatility, and the post-IPO valuation requires continued stellar execution, the fundamental strengths – efficient capital use, margin power, and a favourable industry shift away from plastics – present a persuasive case. The positive grey market sentiment further underscores demand. Investors seeking exposure to this niche with a medium-term horizon and tolerance for SME risks should consider subscribing, keeping a close eye on post-listing performance and expansion progress. Always base your final decision on a thorough review of the Red Herring Prospectus (RHP).