Diksha Polymers IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 0x |
| NII | 2.63x |
| Retail (RII) | 3.14x |
| Total | 2.88x |
Bidding day 3 · final figures at close of bidding: 15 Jul 2026, 12:00 am IST
IPO Details
- Open Date
- 17 Jun 2026
- Close Date
- 19 Jun 2026
- Listing Date
- 24 Jun 2026
- Face Value
- ₹10
- Fresh Issue
- ₹16.99 Cr
- OFS
- ₹0 Cr
- Listing On
- BSE
- Registrar
- —
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,68,800 |
| HNI (Min) | 3 | 3,600 | ₹4,03,200 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| NII | 7,58,400 | 50% |
| Retail | 7,58,400 | 50% |
| Total | 15,16,800 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 19.72 | 1.01 | 1.8 | 1.77 | 6.81 | 4.47 | — |
| FY 2025 | 42.73 | 2.63 | 4.71 | 4.4 | 25.86 | 12.91 | — |
| FY 2026 | 51.27 | 4.12 | 7.32 | 8.52 | 28.2 | 15.1 | 11.44 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 9.79x
- P/E (post-issue)
- 14.14x
- RoNW
- 48.32%
- RoE
- 48.32%
- RoCE
- 28.09%
- Debt / Equity
- 1.77
- EPS (pre-issue)
- ₹11.44
- EPS (post-issue)
- ₹7.92
- EBITDA Margin
- 14.27%
- PAT Margin
- 8.03%
- P/BV
- 4.73x
- NAV / share
- ₹23.68
- Market Cap
- ₹58.2 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Repayment/ prepayment, in full or in part, of certain outstanding borrowings | ₹13.75 Cr |
| General Corporate Purposes | ₹2.25 Cr |
| Issue Expenses | ₹1.9 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Lead manager(s) fees | ₹0.4 Cr |
| Underwriting commission | ₹0.86 Cr |
| Fees Payable to Market Maker | ₹0.4 Cr |
| Fees Payable to Registrar to the Issue | ₹0.01 Cr |
| Fees Payable to Auditor, Legal Advisors & Other Advisors | ₹0.09 Cr |
| Fees Payable for Advertising and marketing expenses | ₹0.04 Cr |
| Fees Payable to Regulators including stock exchanges | ₹0.07 Cr |
| Fees Payable for Printing and distribution of issue stationary | ₹0.02 Cr |
| Brokerage, selling commission and upload fees | ₹0.01 Cr |
Promoters & Shareholding
Promoters: Vivek Mandelia, Vipin Mandelia, Hemlata Mandelia, Anjana Mandelia and Riddhi Mandelia
- Holding (pre-issue)
- 100%
- Holding (post-issue)
- 69.25%
- Dilution
- 30.75%
Documents
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV |
|---|---|---|---|---|---|
| Diksha Polymers | 11.44 | 23.68 | 9.79x | 48.32% | 4.87x |
| Mitsu Chem Plast Ltd | 11.5 | 82.79 | 13.27x | 13.89% | 1.85x |
| TPL Plastech Limited | 3.73 | 21.65 | 17.36x | 17.21% | 3.05x |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Diksha Polymers IPO
The Diksha Polymers SME IPO runs from 17 Jun 2026 to 19 Jun 2026, offered at an issue price of ₹112 per share, and is set to list on BSE. The company is looking to raise ₹16.99 crore through the offer. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,68,800.
Issue structure
The IPO is structured entirely as a fresh issue of ₹16.99 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward repayment/ prepayment, in full or in part, of certain outstanding borrowings (₹13.75 crore), alongside general corporate purposes (₹2.25 crore). In all, 3 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Diksha Polymers reported revenue of ₹51.27 crore and a net profit of ₹4.12 crore. Revenue grew from ₹19.72 crore in FY2024 to ₹51.27 crore in FY2026 (+160.0%). Net worth stood at ₹8.52 crore at the end of FY2026. At the upper band, that puts the issue at roughly 9.8× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 14.14× post-issue earnings and 4.73× book value, against a return on net worth of 48.32% and a debt-to-equity ratio of 1.77. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Mitsu Chem Plast Ltd and TPL Plastech Limited, with a median peer P/E of about 15.3×. The issue's own post-issue P/E works out to 14.14×.
Promoters
The promoters of the company are Vivek Mandelia, Vipin Mandelia, Hemlata Mandelia, Anjana Mandelia and Riddhi Mandelia. Promoter holding stands at 100% before the issue and comes down to 69.25% after listing.
Grey market premium (GMP)
In the unofficial grey market, Diksha Polymers shares are quoted at a premium of ₹0 implying an expected listing around ₹112, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Diksha Polymers IPO was subscribed 2.88 times overall. The strongest demand came from retail investors at 3.14 times, with qualified institutional buyers (QIB) at 0× and non-institutional investors (NII) at 2.63×.
Listing performance
Diksha Polymers listed on 24 Jun 2026 at ₹114.5, a premium of +2.2% over the issue price of ₹112.
What to weigh
When evaluating the Diksha Polymers IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Diksha Polymers
Diksha Polymers is engaged in the manufacturing of PET bottles/containers, PET preforms, and caps. PET containers are primarily used for storing beverages, oils, and other related products, while PET preforms used as a raw material for PET containers. PET Containers are used is wide range of industries i.e., lubricants, food and beverages, consumer goods, pharmaceuticals, agrochemicals, etc. Manufacturing facility: As of Sep 30, 2025, it has three manufacturing facilities across a total area of 26,879 sq. ft. Aggregate installed capacity of 2,100 MTPA for PET bottles and 1,785 MTPA for PET Preforms. Competitive Strengths Product Portfolio of PET Bottles, PET Preforms, and Caps Integrated and well-established manufacturing setup Strategically located manufacturing facilities Healthy Financial Performance Experienced Promoters and Management Team
Diksha Polymers — Contact Details
- Registered office
- B-33, Maharajpura Industrial Area, Maharajpura A.F., Gwalior, Gird, Gwalior, Madhya Pradesh, 474020
- Phone
- +91 8966966666
- info@dikshagroup.in
- Website
- www.dikshagroup.in/
- Registrar (IPO queries)
- priya@cameoindia.com
Frequently asked questions
- What is the Diksha Polymers IPO price band?
- The Diksha Polymers IPO price band is ₹112 per share, with a lot size of 1200 shares.
- What was the Diksha Polymers IPO GMP before listing?
- The final grey market premium recorded before the Diksha Polymers IPO listed was ₹0. The IPO listed on 24 Jun 2026 at ₹114.5, +2.2% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Diksha Polymers IPO open and close?
- The Diksha Polymers IPO opens on 17 Jun 2026 and closes on 19 Jun 2026.
- When is the Diksha Polymers IPO allotment and listing date?
- Allotment is expected on 22 Jun 2026. The shares are scheduled to list on 24 Jun 2026 on BSE.
- How many times was the Diksha Polymers IPO subscribed?
- The Diksha Polymers IPO was subscribed 2.88 times in total across all investor categories.
- What is the reservation split in the Diksha Polymers IPO?
- Of the total shares offered, retail investors get 50%, non-institutional investors 50%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Diksha Polymers and what is their holding?
- The promoters are Vivek Mandelia, Vipin Mandelia, Hemlata Mandelia, Anjana Mandelia and Riddhi Mandelia. Promoter holding is 100% before the issue and 69.25% after listing.
- What is the P/E ratio of the Diksha Polymers IPO?
- At the upper price band, the Diksha Polymers IPO is valued at 9.79× pre-issue earnings and 14.14× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Diksha Polymers IPO?
- The net proceeds go primarily toward repayment/ prepayment, in full or in part, of certain outstanding borrowings, among 3 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Diksha Polymers IPO?
- The book-running lead manager is Aryaman Financial Services Ltd..
- Is Diksha Polymers a Mainboard or SME IPO?
- Diksha Polymers is an SME IPO, listing on BSE (SME platform).