Injecto Polymers IPO
LISTEDSMEINJECTOListing Performance
▼ 1.00%
Issue Price
₹100
Listing Price
₹99
Listed On
21 Sep 2026
- Price Band
- ₹98 – ₹100
- Lot Size
- 1,200
- Lot Value
- ₹1,20,000
- Open Date
- 11 Sep11 Sep 2026
- Close Date
- 16 Sep16 Sep 2026
- Min Investment
- ₹1,20,000
About Injecto Polymers
Injecto Polymers manufactures and trades plastic packaging products, specializing in high-denier fabrics tailored for heavy-duty applications. The company’s core product portfolio encompasses flexible intermediate bulk containers (FIBC), woven sacks, and bags utilized for packaging fertilizers, cement, food grains, and seeds. Operating out of two manufacturing facilities in West Bengal with a combined installed capacity of 10,870 metric tonnes, the business primarily serves customers in eastern India. Injecto Polymers generates revenue through a combination of manufacturing and trading operations, sourcing raw materials like polypropylene granules, high-density polyethylene, and low-density polyethylene from both domestic and international markets. The company caters to the agriculture, construction, textiles, and chemicals sectors, managing its supply chain through a flexible, order-based sales model designed to adapt to fluctuating customer demand and optimize operational scale.
Use of IPO Proceeds
Promoters
Ramesh Kumar Rateria
Chairman and Managing Director
Pre-issue: 32.81%
Ashok Kumar Rateria
Whole-time Director
Pre-issue: 2.31%
Investment Analysis
Quick Analysis: 5 strengths · 5 risk factors· Exchange: BSE SME
Strengths (5)
- •Phase IV expansion directly scales core manufacturing capacity.
- •Debt repayment will improve overall leverage and financial health.
- •Strong market foothold across the eastern Indian packaging sector.
- •Proven capability to produce heavy-duty, high-denier fabrics.
- •Solar power infrastructure reduces reliance on the state grid.
Risk Factors (5)
- •Phase IV capital expenditure is subject to execution and cost risks.
- •Restrictive debt covenants currently limit our operational flexibility.
- •Top 5 customers generate over 30% of total operating revenue.
- •Heavy reliance on lower-margin trading activities impacts profits.
- •Negative operating cash flows constrain future working capital.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 1.21x (QIB 1.57x, NII 1.05x, Retail 1.28x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,20,000 |
| Retail (max) | 1 | 1,200 | ₹1,20,000 |
| S-HNI (min) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (max) | 8 | 9,600 | ₹9,60,000 |
| B-HNI (min) | 9 | 10,800 | ₹10,80,000 |
Subscription Status
| Category | Day 1 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|
| QIB | 1.02x | — | 1.02x | 1.57x |
| sNII (S-HNI) | — | — | — | — |
| bNII (B-HNI) | — | — | — | — |
| Retail | 0.25x | — | 0.27x | 1.28x |
| Total | 0.27x | — | 0.28x | 1.21x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
1.28x
Allotment Ratio
1 lot per 2 applicants
Allotment Probability
~78.1%
Non-Institutional Investors (NII / HNI)
Subscription
1.05x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
1.57x
Allotment Type
Discretionary allotment
Total Subscription
1.21x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
11 Sep 2026 · Fri
Issue Closes
16 Sep 2026 · Wed
UPI Deadline
16 Sep 2026 · Wed
Allotment
17 Sep 2026 · Thu
Refund
18 Sep 2026 · Fri
Share Credit
18 Sep 2026 · Fri
Listing
21 Sep 2026 · Mon
Issue Opens
11 Sep 2026 · Fri
Issue Closes
16 Sep 2026 · Wed
UPI Deadline
16 Sep 2026 · Wed
Allotment
17 Sep 2026 · Thu
Refund
18 Sep 2026 · Fri
Share Credit
18 Sep 2026 · Fri
Listing
21 Sep 2026 · Mon
IPO Details
| Registrar | Integrated Registry Management Services Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹56.12 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | — |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 375.53 | 16.01 | — | — | 25.28% |
| FY25 | 261.48 | 8.11 | — | — | 17.13% |
| FY24 | 109.05 | 4.44 | — | — | 20.94% |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 109.8 | 261.85 | 375.83 |
| EBITDA | 12.35 | 22.57 | 38.04 |
| Net Worth | 21.22 | 47.33 | 63.34 |
| Cash Flow — Operating | -12.95 | -16.9 | -48.8 |
| Cash Flow — Investing | -2.92 | -9.44 | -3.07 |
| Cash Flow — Financing | 15.84 | 26.31 | 51.79 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
—
Price ÷ EPS
EPS (FY26)
—
Earnings per share
RoNW
25.28%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
10.1%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
| Authorised Capital | ₹15.00 Cr |
| Issued Capital | — |
| Paid-up Capital | ₹15.18 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
| Preference Shares | 0 |
| Convertibles | 0.1% Compulsory Convertible Debentures (converted to 18,00,000 Equity Shares on March 24, 2025) |
Source: Injecto Polymers offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Injecto Polymers's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Injecto Polymers's filing.
Source: Injecto Polymers offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB50.00%
- NII / HNI15.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Injecto Polymers offer document (DRHP/RHP).
Board & Management
Board of Directors (5)
- Ramesh Kumar Rateria
Chairman & Managing Director
Business management and operations
- Ashok Kumar Rateria
Whole Time Director
Business management and operations
- Sushil Kumar Sultania
Independent Director
- Anupma Kashyap
Independent Director
- Chandan Sengupta
Independent Director
Key Managerial Personnel (2)
- Ramavatar Kankani
Chief Financial Officer
- Chaman Chhajer₹0.02 Cr p.a.
Company Secretary & Compliance Officer
Source: Injecto Polymers offer document (DRHP/RHP).
Industry & Market
Industry figures as stated in Injecto Polymers's offer document.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Emmbi Industries Limited | 19.43 | 4.22 | 4.06 | — |
| RDB Rasayans Limited | 9.04 | 19.17 | 13.74 | — |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Criminal | Group | 1 | 2.55 |
| Civil | Group | 1 | 79.62 |
| Tax | Group | 1 | 4.616 |
| Tax | Group | 1 | 46.5 |
| Tax | Group | 1 | 159.381 |
| Tax | Group | 1 | 82.343 |
| Tax | Group | 1 | 129.379 |
| Tax | Group | 1 | 62.054 |
| Tax | Company | 1 | 0.015 |
| Tax | Promoters | 1 | 2,127.35 |
Cheque dishonour case filed by Hind Polyfabs against M/s Shree Balaji Plastic Industry Commercial proceeding by Maruti Packagers against JMV Polymer Limited for recovery of outstanding dues Service tax dispute for Maruti Packagers relating to October 2007 to March 2012 Income tax appeal by Jupax Vanijya disputing addition of Rs. 46,50,000 for AY 2017-18 SLP by Hind Polyfabs against State of West Bengal for retrospective entry tax demand SLP by Jupax Vanijya against State of West Bengal for retrospective entry tax demand SLP by Maruti Packagers against State of West Bengal for retrospective entry tax demand SLP by Rateria Laminators against State of West Bengal for retrospective entry tax demand GST proceedings including MOV-9 orders and ASMT-10 notice for discrepancies GST show cause notice to Ramesh Kumar Rateria for fake invoices issuance
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Integrated Registry Management Services Private Limited→Documents
Frequently Asked Questions
When is the Injecto Polymers IPO opening?
The Injecto Polymers IPO opens on 11 Sep 2026 and closes on 16 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Injecto Polymers IPO?
The price band for the Injecto Polymers IPO is ₹98 to ₹100. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Injecto Polymers IPO?
The minimum lot size is 1200 shares with a minimum investment of ₹1,20,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Injecto Polymers IPO today?
Grey Market Premium data for Injecto Polymers is not available yet. It typically starts appearing a few days before the IPO opens.
When will the Injecto Polymers IPO list on NSE and BSE?
The Injecto Polymers IPO is expected to list on 21 Sep 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Injecto Polymers IPO allotment status?
The registrar for this IPO is Integrated Registry Management Services Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Injecto Polymers IPO a mainboard or SME issue?
Injecto Polymers is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Injecto Polymers IPO?
You can apply for the Injecto Polymers IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the allotment ratio for Injecto Polymers IPO?
Based on the retail subscription of 1.28x, the estimated allotment ratio is 1 lot per 2 applicants (approximately 78.1% chance of allotment). This is an estimate and actual allotment may vary.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| R.K.Fashion Accessories | 12 Oct 2026 | -2.44% |
| Acme India Industries | 09 Oct 2026 | +12.76% |
| TNA Solutions | 09 Oct 2026 | -20.00% |
Related IPOs
Related Articles
How to Use 10 Minutes of Research to Validate Any IPO Video You Watch
SEBI now requires issuers to publish a 10-minute IPO disclosure video. Here is a practical, source-by-source method to verify what you watch against the DRHP and official exchange records in about ten minutes.
Read more →
How-ToHow to Read Past IPO Data to Set Realistic Listing Gain Targets
Median listing gains fell to 3.8% in 2025 from 15.2% in 2024. Here is how to read past IPO data, GMP, and subscription numbers to set realistic listing day expectations instead of chasing hype.
Read more →
How-ToHow to Compare an IPO With Listed Peers Using Key Ratios and Growth Metrics
A practical framework for Indian retail investors on comparing an IPO with its listed peers using P/E, P/B, EV/EBITDA and growth metrics, illustrated with the NSE vs BSE case study.
Read more →