Shakti Polytarp IPO
LISTEDSMESHAKTIPOLYListing Performance
▼ 0.17%
Issue Price
₹59
Listing Price
₹59
Listed On
22 Sep 2026
- Price Band
- ₹56 – ₹59
- Lot Size
- 2,000
- Lot Value
- ₹1,18,000
- Open Date
- 15 Sep15 Sep 2026
- Close Date
- 17 Sep17 Sep 2026
- Min Investment
- ₹1,18,000
About Shakti Polytarp
Shakti Polytarp is engaged in the manufacturing of tarpaulins and related products such as shade nets. The company operates its manufacturing facility in Indore, Madhya Pradesh, where it utilizes raw materials like plastic granules to produce its offerings. In addition to its manufacturing operations, the business is involved in the trading of granules, which include polypropylene, low-density polyethylene, and high-density polyethylene. The company generates its revenue primarily through two operating segments: the manufacturing and sale of various types of tarpaulins and shade nets, and the trading of granules in the open market. By procuring raw materials in bulk, the company utilizes a portion for its internal manufacturing needs while selling the remaining inventory to optimize procurement efficiencies. The business focuses on business-to-business transactions and serves a concentrated customer base, with a significant portion of its sales originating from the state of Madhya Pradesh.
Manufactures and sells tarpaulin and shade net products to industrial and commercial customers, offering customization and design services.
Use of IPO Proceeds
Promoters
Ravi Singhal
Pre-issue: 45.45% · Post-issue: 20.06%
Vivek Singhal
Pre-issue: 45.45% · Post-issue: 20.03%
Investment Analysis
Quick Analysis: 5 strengths · 5 risk factors· Exchange: BSE SME
Strengths (5)
- •Offers customized, end-to-end solutions for tarpaulins and shade nets.
- •A strategic facility in Madhya Pradesh provides locational and subsidy benefits.
- •Utilizes bulk discount schemes for cost-effective raw material procurement.
- •Broad product portfolio with various GSMs, widths, and shading percentages.
- •Established relationships with a concentrated B2B customer base ensure volume sales.
Risk Factors (5)
- •High revenue dependency on a limited range of products like tarpaulins and granules.
- •The registered office and manufacturing facility operate on leased, non-owned premises.
- •Heavy reliance on a few clients, with the top ten customers driving over 77% of revenue.
- •Experienced negative cash flows from operating activities in prior fiscal years.
- •Top ten suppliers account for up to 90% of raw materials, increasing supply chain risks.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 0.74x (NII 1.47x, Retail 0.26x), as of 16 Sep 2026, 05:00 PM IST; final figures not on file
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 | 2,000 | ₹1,18,000 |
| Retail (max) | 1 | 2,000 | ₹1,18,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,36,000 |
| S-HNI (max) | 8 | 16,000 | ₹9,44,000 |
| B-HNI (min) | 9 | 18,000 | ₹10,62,000 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | — | — | — |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 0.11x | 0.26x | — |
| Total | 0.60x | 0.74x | — |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
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
15 Sep 2026 · Tue
Issue Closes
17 Sep 2026 · Thu
UPI Deadline
17 Sep 2026 · Thu
Allotment
18 Sep 2026 · Fri
Refund
21 Sep 2026 · Mon
Share Credit
21 Sep 2026 · Mon
Listing
22 Sep 2026 · Tue
Issue Opens
15 Sep 2026 · Tue
Issue Closes
17 Sep 2026 · Thu
UPI Deadline
17 Sep 2026 · Thu
Allotment
18 Sep 2026 · Fri
Refund
21 Sep 2026 · Mon
Share Credit
21 Sep 2026 · Mon
Listing
22 Sep 2026 · Tue
IPO Details
| Registrar | Skyline Financial Services Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹27.00 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | NEXGEN Financial Solutions Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 166.24 | 4.97 | — | — | 27.89% |
| FY24 | 62.01 | 0.98 | — | — | 9.06% |
| FY23 | 46.22 | 0.56 | — | — | 7.63% |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Income | 46.23 | 62.23 | 166.5 |
| EBITDA | 3.09 | 3.83 | 10.69 |
| Net Worth | 7.35 | 10.84 | 17.8 |
| Cash Flow — Operating | -3.64 | -2.05 | -10.58 |
| Cash Flow — Investing | -0.11 | -5.25 | -9.6 |
| Cash Flow — Financing | 3.77 | 7.49 | 23.45 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
—
Price ÷ EPS
EPS (FY25)
—
Earnings per share
RoNW
27.89%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
6.4%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
| Authorised Capital | ₹20.00 Cr |
| Issued Capital | — |
| Paid-up Capital | ₹12.56 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
| Convertibles | No outstanding convertible instruments as on the date of this draft Red Herring prospectus |
Source: Shakti Polytarp offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Shakti Polytarp's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Shakti Polytarp's filing.
Source: Shakti Polytarp offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- Anchor60.00%
- QIB50.00%
- NII / HNI15.00%
- Retail35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Shakti Polytarp offer document (DRHP/RHP).
Board & Management
Board of Directors (5)
- Ravi Singhal
Managing Director
Bachelor's degree in commerce
More than 17 years of experience in the Plastic Industry
- Vivek Singhal
Executive Director and Promoter
Bachelor of Business Administration in Foreign Trade from Devi Ahilya University, Indore, 2007
17 years of experience in the plastic industry
- Rajesh Gupta
Non-Executive Director
Bachelor of Science in Mathematics from the University of Indore, 1980
3 years of experience working as a LIC Agent
- Ruchi Joshi Meratia
Independent Director
Graduation in Commerce from Vikram University, Ujjain, 2007; Practicing Company Secretary
More than 8 years in the Legal and Secretarial field
- Kumari Priya Pandey
Independent Director
Graduation in Commerce from Banaras Hindu University, Varanasi, 2019; Qualified Company Secretary
More than 2 years in Finance, Legal and Secretarial domain
Key Managerial Personnel (2)
- Manoj Kumar₹4.80 Cr p.a.
Chief Financial Officer
Master's degree in business administration from Barkatullah Vishwavidyalaya, Bhopal
More Than 7 Years of Experience in finance field
- Kapl Vinod Garg₹5.40 Cr p.a.
Company Secretary and Compliance Officer
Company Secretary
More than 7 years of experience in the Secretarial and Legal Field
Source: Shakti Polytarp offer document (DRHP/RHP).
Industry & Market
Per Infomerics Analytics and Research Private Limited, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Shakti Polytarp Limited | — | — | 34.68 | — |
| Commercial Syn Bags Limited | 36.53 | 10 | — | — |
| Shree Tirupati Balajee Agro Trading Company Ltd | 30.49 | 8 | — | — |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Skyline Financial Services Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Shakti Polytarp IPO opening?
The Shakti Polytarp IPO opens on 15 Sep 2026 and closes on 17 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Shakti Polytarp IPO?
The price band for the Shakti Polytarp IPO is ₹56 to ₹59. 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 Shakti Polytarp IPO?
The minimum lot size is 2000 shares with a minimum investment of ₹1,18,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Shakti Polytarp IPO today?
The latest Grey Market Premium for Shakti Polytarp is ₹10 (+16.95%). GMP is unofficial data and is not a guarantee of listing price.
When will the Shakti Polytarp IPO list on NSE and BSE?
The Shakti Polytarp IPO is expected to list on 22 Sep 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Shakti Polytarp IPO allotment status?
The registrar for this IPO is Skyline Financial 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 Shakti Polytarp IPO a mainboard or SME issue?
Shakti Polytarp 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 Shakti Polytarp IPO?
You can apply for the Shakti Polytarp 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 GMP-implied price of Shakti Polytarp IPO?
The GMP-implied price (unofficial, not a forecast) is ₹69: the upper price band of ₹59 plus the latest grey market premium of ₹10, as of 01 Oct 2026, 11:00 AM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
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 →