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 · Book Built |
| Face Value | ₹10 |
| Fresh Issue | ₹26.93 Cr (100% fresh) |
| Offer for Sale | None |
| Market Cap | ≈ ₹101.06 Cr |
| Reservation & Parties | |
|---|---|
| QIB (incl. anchor) | 12.36% |
| NII / HNI | 29.97% |
| Retail | 33.62% |
| Lead Managers | NEXGEN Financial Solutions |
| Registrar | Skyline Financial Services |
FY25–FY26 Trend (₹ Cr)
Restated consolidated figures from the RHP.
| Metric | FY25 | FY26 | YoY |
|---|---|---|---|
| Total Income | 166.50 | 216.10 | +30% |
| PAT (FY26 approx.) | — | ≈10.0 | — |
Is the price fair?
From the RHP "Basis for Issue Price". Price (P/E) beside quality (ROE).
| Company | P/E | ROE | Net Margin |
|---|---|---|---|
| Shakti Polytarp | 10.1x | 44.04% | 4.66% |
Who runs it & where the money goes
| Promoters | |
|---|---|
| Promoters | Ravi Singhal, Vivek Singhal, Trisha Singhal, Priyal Singhal |
| Pre-issue | — |
| Post-issue | — |
| Objects of Issue | |
|---|---|
| Capital expenditure | — |
| General corporate purposes | Balance |
Strengths & Risks
The part most sites skip — both sides, from the RHP.
- Cheap on earnings — ~10x post-issue P/E (pre-issue ~7.4x).
- Steady revenue growth — income ₹166.5 → ₹216.1 Cr (FY25→FY26).
- All-fresh issue — ₹26.93 Cr funds capex and general corporate purposes; an anchor portion is present.
- Established plant (Khargone, MP; ~1.98 lakh sq ft) with modern extrusion/weaving/recycling lines; diversified PP/LLDPE/LDPE/HDPE inputs.
- Everyday, demand-resilient products (tarpaulins, shade nets) across B2B and B2C.
- Very high debt — debt/equity ~2.60; the headline ~44% ROE is heavily flattered by leverage, not a clean return.
- Wafer-thin margins — PAT margin ~4.7%; a commodity-like plastic-sheet market exposed to resin (crude-derivative) input costs.
- Nil grey-market premium and mixed demand (0.79× overall by Day 2; NII 1.72× but retail just ~0.26×) — a muted early signal.
- Single-location manufacturing (Nimrani, Khargone) on a large ~₹2.36 lakh SME ticket — low liquidity and high volatility.
- New listing with limited history; confirm full FY24–FY26 financials and promoter holding in the RHP.
Did the signal hold up? Updates after Sep 22
We close the loop — issue vs listing price, listing-day gain, and whether the call was right.
Shakti Polytarp IPO FAQs
Common questions about the Shakti Polytarp IPO — GMP, price, dates, allotment and more.
What is Shakti Polytarp IPO GMP today?
As of the latest update (Subscription: Sep 16, 05:06 PM IST · GMP: Sep 16, 5:00 PM IST — no premium quoted), the grey market premium (GMP) for Shakti Polytarp IPO is around Nil so far, implying an estimated listing price of about ≈ ₹59. GMP is unofficial & indicative
What is Shakti Polytarp IPO price band?
The price band is ₹56 – ₹59 per share (face value ₹10).
What is Shakti Polytarp IPO lot size?
The lot size is 2,000 · min ₹2,36,000 per application.
When is Shakti Polytarp IPO allotment?
The tentative basis-of-allotment date is Sep 18.
When will Shakti Polytarp IPO be listed?
The tentative listing date is Sep 22, 2026 on BSE SME.
What is the expected listing price of Shakti Polytarp IPO?
Based on the current grey market premium of Nil so far, the estimated listing price is around ≈ ₹59 — this is unofficial and not a guarantee of the actual listing price.
Should I apply for Shakti Polytarp IPO?
Our view: Neutral · May Apply
In simple terms, Shakti Polytarp makes tarpaulins and shade nets — the tough plastic sheets used to cover and protect goods from rain and sun. Its revenue has grown steadily (to about ₹216 crore) and, at roughly 10 times earnings, the shares are cheap on the face of it. But the profit it keeps is wafer-thin (about 5% of sales); it carries a lot of debt (it owes about 2.6 times its net worth), which is what makes the ~44% return on net worth look so high; the grey market has quoted no premium; and demand is moderate (about 0.79 times overall by Day 2 — the NII/HNI category is ~1.7 times but retail is barely bidding). The whole issue is fresh money for capacity and general purposes. On balance the low price is tempting but the heavy debt and thin margins temper it — a cautious 'may apply' for someone comfortable with a leveraged, commodity SME, and reasonable to wait for retail demand and any grey-market signal to build. (Confirm full FY24–FY26 financials and promoter holding in the RHP.) This is IPOSignal's research view, not investment advice.
What is Shakti Polytarp IPO subscription status?
As of Day 2 · Sep 16, 05:06 PM IST — latest available (closes Sep 17), the issue was subscribed 0.8× overall — NII / HNI 1.7×, Individual 0.3×, QIB 0×.
Who is the registrar of Shakti Polytarp IPO?
The registrar is Skyline Financial Services; the lead manager(s): NEXGEN Financial Solutions.