Shakti Polytarp IPO: Price Band, Lot Size, Financials & Review
Shakti Polytarp IPO listed on BSE on Tue, 22 Sep 2026. The issue was subscribed 11.94x overall.
- Open Date
- 15 Sep 2026
- Close Date
- 17 Sep 2026
Last updated
- Price band
- ₹56 – ₹59
- Lot size
- 2,000 shares
- Min. investment
- ₹2,36,000
- Issue size
- ₹26.93 Cr
- Last GMP
- +₹10
- Subscribed
- 🔥 11.94x
Shakti Polytarp IPO details
Shakti Polytarp IPO is a ₹26.93 Cr book-building IPO on the SME segment, listing on BSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Tue, 15 Sep 2026 to Thu, 17 Sep 2026. Allotment was finalised on Fri, 18 Sep 2026, and the shares listed on BSE on Tue, 22 Sep 2026.
The price band is ₹56 to ₹59 per share and the lot size is 2000 shares, so the minimum retail application is ₹2,36,000. Retail investors can apply for up to 2 lots (4,000 shares, ₹2,36,000).
Skyline Financial Services Private Ltd is the registrar, and NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Shakti Polytarp IPO GMP before listing was +₹10 (+16.95% against the upper price band of ₹59), implying an estimated listing price of ₹69. Across 10 days of tracking, GMP ranged from 0 (13 Sep) to +₹10 (21 Sep).
| Last GMP | +₹10 |
|---|---|
| GMP vs upper band | +16.95% |
| Estimated listing price | ₹69 |
| Highest (21 Sep) | +₹10 |
| Lowest (13 Sep) | 0 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Shakti Polytarp IPO day-wise GMP.
Subscription
Day-wise subscription →Shakti Polytarp IPO was subscribed 11.94x overall: QIB 49.22x, NII 5.60x and retail 4.12x.
| Category | Subscribed |
|---|---|
| QIB | 49.22x |
| NII | 5.60x |
| └ bNII (above ₹10 lakh) | 6.37x |
| └ sNII (₹2–10 lakh) | 4.05x |
| Retail | 4.12x |
| Total | 11.94x |
Final figures at the close of bidding on 17 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Shakti Polytarp IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 8,22,000 | 18.97% |
| Qualified Institutions | 5,64,000 | 13.01% |
| Non-Institutional | 13,68,000 | 31.56% |
| └ BNII | 9,12,000 | 21.04% |
| └ SNII | 4,56,000 | 10.52% |
| Retail Investors | 15,80,000 | 36.46% |
| Total | 43,34,000 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Shakti Polytarp IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,36,000 |
| Retail (Max) | 2 | 4,000 | ₹2,36,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,54,000 |
| S-HNI (Max) | 8 | 16,000 | ₹9,44,000 |
| B-HNI (Min) | 9 | 18,000 | ₹10,62,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹59, the issue is priced at 7.38x pre-issue earnings and 10.05x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 34.10x (2 companies).
Promoter holding falls from 90.90% before the issue to 66.67% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹8 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 7.38x |
| EPS (post-issue) EPS on the enlarged share capital | ₹5.87 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 10.05x |
| Promoter holding (pre-issue) | 90.90% |
| Promoter holding (post-issue) | 66.67% |
Shakti Polytarp Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹166.5 Cr to ₹216.1 Cr, and profit after tax rose from ₹4.97 Cr to ₹10.06 Cr. The PAT margin for 31 Mar 2026 was 4.66%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 110.12 | 71.39 | 40.29 |
| Total Income | 216.10 | 166.50 | 62.23 |
| Profit After Tax | 10.06 | 4.97 | 0.98 |
| EBITDA | 19.29 | 10.69 | 3.83 |
| Net Worth | 27.86 | 17.80 | 10.84 |
| Reserve & Surplus | 15.30 | 5.24 | 5.13 |
| Total Borrowings | 72.51 | 48.00 | 23.36 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 44.04 | 34.68 | 10.79 |
| ROCE % | 17.87 | 14.87 | 8.87 |
| Debt / Equity | 2.60 | 2.70 | 2.18 |
| RoNW % | 44.04 | 34.68 | 10.79 |
| Pat Margin % | 4.66 | 2.99 | 1.58 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Shakti Polytarp Limited | 10 | — | 8.00 | 8.00 | 44.04% | 22.18 |
| Commercial Syn Bags Ltd | 10 | 43.93 | 6.75 | 6.75 | 16.86% | 43.03 |
| Shree Tirupati Balajee Agro Trading Company Ltd | 10 | 24.26 | 1.08 | 1.08 | 3.49% | 31.61 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Capital Expenditure |
| 2 | General Corporate Purposes |
About Shakti Polytarp Limited
Incorporated in March 2018, Shakti Polytarp Limited is engaged in the manufacturing of tarpaulins and other plastic-based products, including shade nets. Tarpaulins are water-resistant and durable sheets used for protecting goods, equipment and other materials from rain, moisture, sunlight and other environmental conditions.
The Company manufactures tarpaulins using Polypropylene (PP) granules and various grades of polyethylene, including Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE) and High-Density Polyethylene (HDPE). Its products are available in a wide range of sizes, colours, thicknesses and specifications to meet specific customer requirements. The Company particularly focuses on the manufacturing of durable six-layer and eight-layer tarpaulins. Its products are marketed under the “Dinotarp” brand and cater to diverse applications across industries such as agriculture, construction, automotive, transportation and logistics, consumer goods and other sectors.
The Company primarily follows a B2B business model, supplying its products through bulk orders to businesses and industrial customers, while also serving the B2C segment. In addition to manufacturing tarpaulins, the Company is engaged in the sale of plastic granules, which are used as raw materials in the production process. It also offers design and customisation options based on the specific requirements and intended applications of its products.
The Company operates an integrated manufacturing facility located at Nimrani, Khargone, Madhya Pradesh, spread across approximately 1,98,450 sq. ft. The facility is equipped with high-speed extrusion tapelines, extra-wide extrusion lamination machines, high-speed wide-width circular looms, high-strength sealing machines and recycling machines. The integrated machinery, supported by in-built software systems, facilitates production efficiency, process accuracy and quality control. The facility has the capability to manufacture tarpaulins ranging from 70 GSM to 450 GSM.
As of June 30, 2026, the Company had 114 permanent employees, with the majority of its workforce engaged in operations and manufacturing activities.
Promoters
Ravi Singhal
Vivek Singhal
Trisha Singhal
Priyal Singhal
Contact details
Shakti Polytarp Ltd.
Shop No. 4, 4/1
Nayapura Main Road
Indore, Madhya Pradesh, 452009
TelephoneL: +91-9826648050
Email: md@shaktipolytarp.com
Website: https://shaktipolytarp.com/
Shakti Polytarp IPO FAQs
- What is the Shakti Polytarp IPO price band?
- The Shakti Polytarp IPO price band is ₹56 to ₹59 per share.
- What is the Shakti Polytarp IPO lot size and minimum investment?
- The Shakti Polytarp IPO lot size is 2000 shares. The minimum retail investment is ₹2,36,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (4,000 shares), costing ₹2,36,000.
- When was Shakti Polytarp IPO open for subscription?
- Shakti Polytarp IPO was open for subscription from Tue, 15 Sep 2026 to Thu, 17 Sep 2026.
- What is the Shakti Polytarp IPO subscription status?
- Shakti Polytarp IPO was subscribed 11.94x overall: QIB 49.22x, NII 5.60x and retail 4.12x. Day-wise and category-wise figures are on the subscription page.
- What was the Shakti Polytarp IPO GMP before listing?
- The last Shakti Polytarp IPO GMP before listing was +₹10 (+16.95% against the upper price band of ₹59), implying an estimated listing price of ₹69. Across 10 days of tracking, GMP ranged from 0 (13 Sep) to +₹10 (21 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Shakti Polytarp IPO allotment date?
- The Shakti Polytarp IPO basis of allotment was finalised on Fri, 18 Sep 2026. You can check your allotment status on the Skyline Financial Services Private Ltd website.
- What is the Shakti Polytarp IPO listing date?
- Shakti Polytarp IPO listed on BSE on Tue, 22 Sep 2026.
- Is the Shakti Polytarp IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Shakti Polytarp IPO?
- The registrar for the Shakti Polytarp IPO is Skyline Financial Services Private Ltd, and the book running lead manager is NEXGEN Financial Solutions Pvt. Ltd..
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.