Subscription & GMP
Subscription is live from NSE + BSE bid data. GMP is an unofficial market indicator.
Snapshot & Timeline
Verified against RHP, cross-checked on NSE & BSE.
| Issue Structure | |
|---|---|
| Type | SME · Fixed Price |
| Face Value | ₹10 |
| Fresh Issue | ₹25 Cr |
| Offer for Sale | Nil |
| Market Cap | ≈ ₹81.91 Cr |
| Reservation & Parties | |
|---|---|
| QIB (incl. anchor) | — |
| NII / HNI | 50% |
| Retail | 50% |
| Lead Managers | Mark Corporate Advisors |
| Registrar | Maashitla Securities |
FY24–FY26 Trend (₹ Cr)
Restated consolidated figures from the RHP.
| Metric | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Total Income | 39.31 | 48.99 | 56.87 | +16% |
| EBITDA | 3.22 | 4.55 | 6.44 | +42% |
| PAT | 2.02 | 2.83 | 4.03 | +43% |
| Total Borrowing | 7.66 | 7.74 | 14.18 | +83% |
Is the price fair?
From the RHP "Basis for Issue Price". Price (P/E) beside quality (ROE).
| Company | P/E | ROE | Net Margin |
|---|---|---|---|
| Panchatv Bharat | 20.3x | 89.99% | 7.1% |
Who runs it & where the money goes
| Promoters | |
|---|---|
| Promoters | Sanjay Gupta, Sooraj Gupta, Sanyogita Gupta |
| Pre-issue | 92.91% |
| Post-issue | 65.02% |
| Objects of Issue | |
|---|---|
| Working capital requirement | ₹11.50 Cr |
| Capex — property acquisition & modernisation | ₹6.00 Cr |
| General corporate purposes | ₹3.67 Cr |
| Issue expenses | ₹3.42 Cr |
Strengths & Risks
The part most sites skip — both sides, from the RHP.
- Profitable and growing — PAT ₹2.0 → ₹4.0 Cr (+43% in FY26) on income up ~16%; EBITDA +42%.
- All-fresh issue (no OFS) — proceeds fund working capital, a property/modernisation capex and growth.
- Own brand — sells unstitched denim under the 'NJD' brand to garment makers and distributors across India.
- Asset-light hybrid model — mixes third-party manufacturing with self-manufacturing on leased looms.
- Improving margins off a low base (EBITDA margin ~11%).
- Very young company — incorporated only in 2024, so there is minimal verifiable track record; financials are restated over a short history.
- High debt — debt/equity ~2.26 and borrowings nearly doubled in FY26 (₹7.7 → ₹14.2 Cr).
- Base-effect returns — the ~90% ROE sits on a tiny net-worth base, not a sustainable rate; margins are thin (~7% PAT).
- Full pricing with a negligible grey market — a fixed ~20.3x P/E for a commodity-like denim micro-cap; GMP negligible (~₹0–7).
- Tiny, thinly-traded SME (₹25 Cr issue, ~₹82 Cr market cap, 9 employees) with a high ~₹2.8 lakh minimum ticket — low liquidity and high volatility; on the Sep 15 final day the book is still undersubscribed (~0.49× overall, NII just 0.20×) and the grey market is weak and single-source.
Did the signal hold up? Updates after Sep 18
We close the loop — issue vs listing price, listing-day gain, and whether the call was right.
Panchatv Bharat IPO FAQs
Common questions about the Panchatv Bharat IPO — GMP, price, dates, allotment and more.
What is Panchatv Bharat IPO GMP today?
As of the latest update (Subscription: Sep 15, 12:54 PM IST (Day 3 / final day — BSE) · GMP: Sep 15, ~12:50 PM IST (unconfirmed — single tracker)), the grey market premium (GMP) for Panchatv Bharat IPO is around ~₹0–21 (unconfirmed — single tracker), implying an estimated listing price of about ≈ ₹140–161. GMP is unofficial & indicative
What is Panchatv Bharat IPO price band?
The price band is ₹140 (fixed) per share (face value ₹10).
What is Panchatv Bharat IPO lot size?
The lot size is 1,000 · min ₹2,80,000 per application.
When is Panchatv Bharat IPO allotment?
The tentative basis-of-allotment date is Sep 16.
When will Panchatv Bharat IPO be listed?
The tentative listing date is Sep 18, 2026 on BSE SME.
What is the expected listing price of Panchatv Bharat IPO?
Based on the current grey market premium of ~₹0–21 (unconfirmed — single tracker), the estimated listing price is around ≈ ₹140–161 — this is unofficial and not a guarantee of the actual listing price.
Should I apply for Panchatv Bharat IPO?
Our view: Avoid
In simple terms, Panchatv Bharat makes and sells unstitched denim fabric under its 'NJD' brand, and it is profitable and growing. But the risks stack up heavily: the company was only formed in 2024, so there is very little track record to lean on; it carries a lot of debt (it owes more than twice its net worth, and borrowings nearly doubled last year); its profit margins are thin (about 7% of sales); the eye-catching ~90% return on net worth is an illusion created by a tiny equity base, not a durable rate; the grey market is weak and unconfirmed (about ₹21, single tracker); and at a fixed ₹140 (about 20 times earnings) it is not cheap for a commodity-like textile business — with a large ₹2.8 lakh minimum ticket and a very small ~₹24.6 crore issue. Demand confirms the caution — on the Sep 15 final day the book is still undersubscribed at about 0.49 times (individual ~0.78 times, NII ~0.20 times). On balance the risk-reward looks unfavourable here; for most investors it is reasonable to sit this one out. This is IPOSignal's research view, not investment advice.
What is Panchatv Bharat IPO subscription status?
As of Day 3 (final day) · Sep 15, 12:54 PM IST — latest available (bidding closes today), the issue was subscribed 0.5× overall — Individual 0.8×, NII / HNI 0.2×.
Who is the registrar of Panchatv Bharat IPO?
The registrar is Maashitla Securities; the lead manager(s): Mark Corporate Advisors.