Shree Balaji Mala IPO

The Shree Balaji Mala SME IPO is open between 22 Jul 2026 and 24 Jul 2026, offered at a price band of ₹66–70 per share, and is set to list on BSE. The IPO seeks to raise ₹18.9 crore. Retail investors bid in lots of 2000 shares, a minimum application of ₹2,80,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹17.95 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 funding working capital requirements of the company (₹16.5 crore), alongside issue expenses (₹1.91 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Shree Balaji Mala reported revenue of ₹212.4 crore and a net profit of ₹5.85 crore. Revenue grew from ₹195.89 crore in FY2024 to ₹212.4 crore in FY2026 (+8.0%). Net worth stood at ₹27.51 crore at the end of FY2026.

Valuation

At the upper band, the issue is priced at 11.84× post-issue earnings and 2.33× book value. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including N R Vandana Tex Industries Limited and Saraswati Saree Depot Limited, with a median peer P/E of about 12.2×. The issue's own post-issue P/E works out to 11.84×.

Promoters

The promoters of the company are <p>Binod Kumar Kedia, Anita Kedia, Mrityunjay Commosales Pvt.Ltd.</p>. Promoter holding is 100% before the issue.

Grey market premium (GMP)

In the unofficial grey market, Shree Balaji Mala shares are quoted at a premium of ₹55 implying an expected listing around ₹125, about +78.6% 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 Shree Balaji Mala IPO was subscribed 200.34 times overall. The strongest demand came from non-institutional investors (NII) at 249.47 times, with qualified institutional buyers (QIB) at 113.55× and retail investors at 228.24×.

Listing performance

Shree Balaji Mala listed on 29 Jul 2026 at ₹133, a premium of +90.0% over the issue price of ₹70.

What to weigh

When evaluating the Shree Balaji Mala 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 Shree Balaji Mala

Shree Balaji (Mala) Textiles Limited is primarily engaged in the manufacturing and wholesale trading of cotton sarees, serving the Business-to-Business (B2B) textile market across India. The company markets its products under the well-recognized “Mala Saree” brand, offering an extensive collection of cotton sarees featuring diverse patterns, designs, and styles to cater to varying customer preferences. The company has established a robust distribution network that facilitates the supply of its products across multiple regions of the country. As of March 31, 2025, its network comprised more than 100 brokers, 10 dealers, 65 wholesalers, and approximately 2,300 retailers. This widespread presence enables the company to effectively serve customers across North, South, East, West, Central, and Northeast India. Its manufacturing facility is situated in Jetpur, Gujarat, and spans approximately 9–14 gunthas of land. The facility is equipped with the necessary infrastructure to produce a broad range of cotton sarees in various fabric qualities, colors, and design combinations. Through a focus on product quality, evolving fashion trends, and competitive pricing, the company has built a strong position within India's organized cotton saree industry.