← Back to IPOs
Shakti Polytarp IPO
📅 Founded: 2018
📍 Indore, Madhya Pradesh
👥 114 employees
🌐 shaktipolytarp.com
📋 Face Value: ₹10
🏦 Market Cap: ₹98 Cr
Price Band
₹56 – ₹59
Issue Size
₹26.93 Cr
Lot Size
2000 shares
Min. Investment
₹2,36,000
GMP
+₹0 (+0%)
Est. Return
+0%
Listing Date
22 Sep 2026
Registrar
Skyline Financial Services
Shakti Polytarp IPO at a glance
Shakti Polytarp IPO was an SME issue of ₹26.93 Cr at a price band of ₹56 – ₹59 per share, open from 15 Sep 2026 to 17 Sep 2026. The shares listed on BSE SME on 22 Sep 2026 at ₹58.9, a listing loss of 0.2% against the issue price of ₹59.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh Issue₹26.93 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹26.93 Cr
Face Value₹10
Market Cap (at issue)₹98 Cr
Listing ExchangeBSE SME
📅 Open Date15 Sep 2026
🔒 Close Date17 Sep 2026
✂️ Cut-off Price Date17 Sep 2026
🎟️ Allotment Date18 Sep 2026
💸 Refund Initiation19 Sep 2026
📂 Demat Credit19 Sep 2026
📈 Listing Date22 Sep 2026
Objects of the Issue
- 💰 Capital expenditure — ₹20.88 Cr
- 💰 General corporate purposes — ₹2.54 Cr
About the Company
Shakti Polytarp, based in Indore, makes water-resistant tarpaulins and plastic products such as shade nets, sold under the Dinotarp brand. Its customers span agriculture, construction, transport, logistics and consumer goods, through bulk business orders and direct sales.
Strengths
- ✅ Makes PP, LDPE and HDPE tarpaulins and shade nets under the Dinotarp brand
- ✅ Plant at Nimrani, Khargone in Madhya Pradesh
- ✅ Income more than tripled between FY24 and FY26
Risk Factors
- ⚠️ Borrowings are more than 2.5 times net worth
- ⚠️ Thin net margin of under 5%
- ⚠️ Polymer raw-material prices move with crude oil
- ⚠️ Very fast growth over two years may be hard to sustain
Subscription Status
Not yet open
QIB: —
NII: —
RII: —
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for SME IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
88.51%
Pre-IPO
→ -23.6%
64.92%
Post-IPO
Founders & Leadership
RS
Ravi Singhal
Promoter
Promoter of the company
VS
Vivek Singhal
Promoter
Promoter of the company
IPO Timeline
✓
Open Date
15 Sep 2026
✓
Close Date
17 Sep 2026
✓
Allotment Date
18 Sep 2026
✓
Listing Date
22 Sep 2026
Key Financials
Revenue₹216.1 Cr
PAT₹10.06 Cr
EPS₹5.87
P/E Ratio10.05x
ROE44.04%
Market Cap₹98 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| 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 |
| Total Borrowing | 72.51 | 48.00 | 23.36 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 36.11 | 27.92 |
| EBITDA Margin (%) | 8.93 | 6.42 |
| Debt / Equity | 2.60 | 2.70 |
| Net Worth (Rs. Cr) | 27.86 | 17.80 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹5.87 | — |
| P/E (x) | 10.05x | — |
| ROE (%) | 44.04% | — |
| Promoter Holding | 88.51% | 64.92% |
| Market Cap | ₹98 Cr | |
IPO Registrar
Shakti Polytarp IPO FAQs
Shakti Polytarp IPO is an SME IPO with an issue size of ₹26.93 Cr at a price band of ₹56 – ₹59. Minimum lot size is 2000 shares and the minimum application is 2 lots (minimum investment ~₹2,36,000). Opened on 15 Sep 2026 and closed on 17 Sep 2026. Listed on BSE SME. Registrar: Skyline Financial Services.