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Shree TNB Polymers IPO
📅 Founded: 2007
📍 Silvassa, Dadra & Nagar Haveli
📋 Face Value: ₹10
🏦 Market Cap: ₹113 Cr
Price Band
₹47 – ₹52
Issue Size
₹31.20 Cr
Lot Size
2000 shares
Min. Investment
₹2,08,000
GMP
+₹0 (+0%)
Est. Return
+0%
Listing Date
08 Oct 2026
Registrar
MUFG Intime India
Shree TNB Polymers IPO at a glance
Shree TNB Polymers IPO was an SME issue of ₹31.20 Cr at a price band of ₹47 – ₹52 per share, open from 28 Sep 2026 to 05 Oct 2026. The shares listed on BSE SME on 08 Oct 2026.
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₹31.20 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹31.20 Cr
Face Value₹10
Market Cap (at issue)₹113 Cr
Listing ExchangeBSE SME
📅 Open Date28 Sep 2026
🔒 Close Date05 Oct 2026
✂️ Cut-off Price Date05 Oct 2026
🎟️ Allotment Date06 Oct 2026
💸 Refund Initiation07 Oct 2026
📂 Demat Credit07 Oct 2026
📈 Listing Date08 Oct 2026
Objects of the Issue
- 💰 Purchase of machinery — ₹15.86 Cr
- 💰 Rooftop solar installation — ₹2.60 Cr
- 💰 Pre-engineered building construction — ₹1.32 Cr
- 💰 Repayment of borrowings — ₹5.62 Cr
- 💰 General corporate purposes
About the Company
Shree TNB Polymers, incorporated in 2007, makes plastic pipes and related products at two plants in Silvassa with about 24,000 tonnes a year of capacity. Its range covers HDPE and PP pipes and fittings, double-wall corrugated (DWC) pipes, sprinkler pipes, drip-irrigation systems and solid industrial sheets, used in farming, drinking-water supply, sewerage, telecom cable ducting and construction.
Strengths
- ✅ Nearly two decades in plastic-pipe manufacturing
- ✅ Wide product range serving farming, water, sanitation and telecom
- ✅ Holds BIS and ISO certifications
- ✅ The IPO funds new machinery and rooftop solar, which should lift capacity and cut power costs
Risk Factors
- ⚠️ Thin margins — PAT of ₹7.1 Cr on ₹198 Cr income in FY26 (about 3.6%)
- ⚠️ Income fell in FY25 before recovering in FY26
- ⚠️ Raw-material (polymer) prices follow crude oil and can squeeze margins
- ⚠️ Pipe manufacturing is crowded with large, well-known listed brands
- ⚠️ Promoters will hold only about a third of the company after the issue
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
45.56%
Pre-IPO
→ -12.8%
32.76%
Post-IPO
Founders & Leadership
VT
Vijay Jaysukhlal Thosani
Promoter
One of the company's promoters
RB
Rasikbhai Gokalbhai Bhalodi
Promoter
One of the company's promoters; the Bhalodi, Thosani and Raura families form the promoter group
IPO Timeline
✓
Open Date
28 Sep 2026
✓
Close Date
05 Oct 2026
✓
Allotment Date
06 Oct 2026
✓
Listing Date
08 Oct 2026
Key Financials
Revenue₹198 Cr
PAT₹7.1 Cr
EPS₹3.34
P/E Ratio15.87x
ROE13.69%
Market Cap₹113 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 198.31 | 175.70 | 207.97 |
| Profit After Tax | 7.13 | 5.77 | 5.03 |
| Net Worth | 55.68 | 48.55 | 34.21 |
| Total Borrowing | — | 38.50 | 35.82 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 12.81 | 11.88 |
| Debt / Equity | — | 0.79 |
| Net Worth (Rs. Cr) | 55.68 | 48.55 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹3.34 | — |
| P/E (x) | 15.87x | — |
| ROE (%) | 13.69% | — |
| Promoter Holding | 45.56% | 32.76% |
| Market Cap | ₹113 Cr | |
IPO Registrar
Shree TNB Polymers IPO FAQs
Shree TNB Polymers IPO is an SME IPO with an issue size of ₹31.20 Cr at a price band of ₹47 – ₹52. Minimum lot size is 2000 shares and the minimum application is 2 lots (minimum investment ~₹2,08,000). Opened on 28 Sep 2026 and closed on 05 Oct 2026. Listed on BSE SME. Registrar: MUFG Intime India.