Shakti Polytarp IPO

The Shakti Polytarp SME IPO opens for subscription on 15 Sept 2026 and closes on 17 Sept 2026, offered at a price band of ₹56–59 per share, and is set to list on BSE. In total, the issue aims to mobilise ₹26.93 crore. Retail investors bid in lots of 2000 shares, a minimum application of ₹2,36,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹25.57 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 capital expenditure (₹20.88 crore), alongside issue expenses (₹3.5 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Shakti Polytarp reported revenue of ₹216.1 crore and a net profit of ₹10.06 crore. Revenue grew from ₹62.23 crore in FY2024 to ₹216.1 crore in FY2026 (+247.0%). Net worth stood at ₹27.86 crore at the end of FY2026. At the upper band, that puts the issue at roughly 7.4× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 10.05× post-issue earnings and 2.66× book value, against a return on net worth of 44.04% and a debt-to-equity ratio of 2.6. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Commercial Syn Bags Ltd and Shree Tirupati Balajee Agro Trading Company Ltd, with a median peer P/E of about 34.1×. The issue's own post-issue P/E works out to 10.05×.

Promoters

The promoters of the company are <p>Ravi Singhal, Vivek Singhal, Trisha Singhal, Priyal Singhal</p>. Promoter holding stands at 88.51% before the issue and comes down to 64.92% after listing.

Grey market premium (GMP)

In the unofficial grey market, Shakti Polytarp shares are quoted at a premium of ₹10 implying an expected listing around ₹69, about +16.9% 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 Shakti Polytarp IPO was subscribed 11.87 times overall. The strongest demand came from qualified institutional buyers (QIB) at 49.22 times, with non-institutional investors (NII) at 5.43× and retail investors at 4.12×.

Listing performance

Shakti Polytarp listed on 22 Sept 2026 at ₹58.9, a discount of -0.2% over the issue price of ₹59.

What to weigh

When evaluating the Shakti Polytarp 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 Shakti Polytarp

Incorporated in March 2018, Shakti Polytarp Limited manufactures tarpaulin and Shade Net. The company's products are used in agriculture, construction, automotive, transportation, logistics, and consumer goods. The company offers comprehensive services, helping clients choose the appropriate tarpaulin and providing design and customization options for their applications. The company's manufacturing unit spans 18,432 sq. meters and is located in Khargone, Madhya Pradesh. The company engages in B2B sales of granules used to produce tarpaulin through melting, extrusion, weaving, and lamination. The company operates on a B2B (Business-to-Business) model, supplying tarpaulin and other products to various industries and in the B2C (Business-to-Consumer) segment, offering its products directly to consumers. As of January 31, 2025, the company had a total of 76 employees on its payroll. Competitive Strength: Diverse usage of products. In-house manufacturing facility. Experienced and Qualified management team. Established client relationship.