S.K. Offset IPO Date & Timeline
Tentative schedule from the RHP.
S.K. Offset IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Total |
|---|---|---|---|---|---|---|
| Shares offered | 3,60,000 | 2,22,000 | 1,11,000 | 3,33,000 | 9,72,000 | 16,65,000 |
| Day 1 · Sep 23 | 0.50× | 0.00× | 0.00× | 0.00× | 0.02× | 0.12× |
| Day 2 · Sep 24 | 0.50× | 0.82× | 0.54× | 0.73× | 0.24× | 0.41× |
| Day 3 · Sep 25 | 2.61× | 1.11× | 1.03× | 1.08× | 0.78× | 1.25× |
S.K. Offset IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 23 – 25, 2026 |
| Price band | ₹119 – 125 per share |
| Face value | ₹10 per share |
| Lot size | 1,000 shares |
| Total issue size | 23,25,000 shares ₹29.06 Cr |
| Fresh issue | 23,25,000 shares ₹29.06 Cr |
| Issue type | Book Built · SME |
| Listing at | BSE SME |
| Promoter holding | 100% → 69.97% |
| Lead manager | Comfort Securities Ltd. |
| Market maker | SMC Global Securities Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
Offer documents
S.K. Offset IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹125.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 2,000 | ₹2,50,000 |
| Individual (max) | 2 | 2,000 | ₹2,50,000 |
| sHNI (min) | 3 | 3,000 | ₹3,75,000 |
| sHNI (max) | 8 | 8,000 | ₹10,00,000 |
| bHNI (min) | 9 | 9,000 | ₹11,25,000 |
S.K. Offset IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 1,20,000 | 5.2% | — |
| Anchor investors | 5,40,000 | 23.2% | — |
| QIB (ex-anchor) | 3,60,000 | 15.5% | — |
| NII (HNI) | 3,33,000 | 14.3% | — |
| ↳ bHNI (>₹10L) | 2,22,000 | 9.5% | 74 |
| ↳ sHNI (₹2–10L) | 1,11,000 | 4.8% | 37 |
| Individual investors | 9,72,000 | 41.8% | 486 |
| Total | 23,25,000 | 100% |
S.K. Offset Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 23.31 | 48.65 | 67.00 | +37.7% |
| Profit after tax | 0.72 | 1.54 | 7.48 | +385.7% |
| Total assets | 28.85 | 55.77 | 81.76 | +46.6% |
| Net worth | 4.58 | 7.20 | 19.78 | +174.7% |
| Reserves & surplus | 3.58 | 5.95 | 14.36 | +141.3% |
| Total borrowing | 14.70 | 32.35 | 34.58 | +6.9% |
S.K. Offset IPO Valuation
At the upper band of ₹125.
About S.K. Offset
Business profile from the RHP.
- Feb 2007Incorporated · Meerut, Uttar Pradesh
- 3 segmentsPrinting, packaging and labelling, plus design services
- 111 employeesAs of the RHP date
- ₹18.7 CrOf the issue earmarked for working capital
Promoters & holding
Pradeep Agarwal, Priyanshu Agarwal, Ayush Agarwal
Objects of the issue
Anchor investors
5,40,000 shares.
S.K. Offset IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: A fast-growing printing and packaging company with ~21% EBITDA margins, priced low at ~13× post-issue earnings. But profit only took off in FY26, debt is 1.75× equity, most of the issue funds working capital rather than capacity, and the issue closed only 1.25× subscribed, with individual investors at 0.78×.
- Fast growth: revenue nearly tripled in two years (₹23.3 Cr → ₹67.0 Cr) and profit rose to ₹7.5 Cr.
- Integrated printing, packaging and labelling under one roof, plus design services.
- Low valuation: ~9× pre-issue and ~13× post-issue earnings.
- Healthy margins for the sector: EBITDA ~21% and ROE ~38%.
- Entirely a fresh issue, and promoters keep ~70%.
- The profit jump is concentrated in FY26 (PAT ~5×); earlier years earned only ₹0.7–1.5 Cr.
- High debt: borrowings of ₹34.6 Cr against net worth of ₹19.8 Cr (D/E ~1.75).
- About ₹18.7 Cr of the ₹29 Cr issue goes to working capital, and only ₹2.1 Cr to new machinery.
- Printing and packaging is competitive and fragmented, and there are no listed peers to benchmark against.
- Weak demand: the issue closed just 1.25× subscribed, with the individual portion undersubscribed (0.78×) and an SME minimum of ₹2,50,000 for 2 lots.
S.K. Offset Listing Performance Updates after Sep 30
We close the loop: issue vs listing price, and whether our call was right.
S.K. Offset IPO Allotment Status & Contact Details
Allotment was finalised on Sep 28. Check it with your PAN or application number.
Maashitla Securities Pvt. Ltd.
- Phone
- 011-45121795
- ipo@maashitla.com
S.K. Offset Ltd.
- Address
- 15, Sports Complex Enclave, Delhi Road, Meerut, Uttar Pradesh 250002
- Phone
- +91 92582 06919
- compliance@skoffset.com
- Website
- skoffset.com
S.K. Offset IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is S.K. Offset IPO?
S.K. Offset IPO is a ₹29.06 Cr SME book built issue, entirely a fresh issue. The shares will list on BSE SME.
What is the price band of S.K. Offset IPO?
The price band is ₹119 – ₹125 per equity share of face value ₹10.
What is the lot size of S.K. Offset IPO?
The minimum lot is 1,000 shares. Individual investors must apply for exactly 2 lots (2,000 shares).
What is the minimum investment for S.K. Offset IPO?
The minimum individual investment is ₹2,50,000 (2,000 shares at ₹125).
When does S.K. Offset IPO open and close?
The IPO opens on Sep 23, 2026 and closes on Sep 25, 2026.
What is the allotment date of S.K. Offset IPO?
The basis of allotment is finalised on Sep 28, 2026. Refunds and demat credit are expected on Sep 29, 2026.
When will S.K. Offset IPO be listed?
The tentative listing date is Sep 30, 2026 on BSE SME.
What is S.K. Offset IPO subscription status?
At close (Sep 25 · 5:00 PM IST), the issue was subscribed 1.25× overall — QIB 2.61×, bHNI 1.11×, sHNI 1.03×, Individual 0.78×.
What is the P/E ratio and valuation of S.K. Offset IPO?
At the upper band, the P/E is 9.1× pre-issue and 12.9× post-issue.
Should I apply for S.K. Offset IPO?
IPOSignal's view is Proceed with Caution · Cheap, but Debt & WC Heavy (57/100). A fast-growing printing and packaging company with ~21% EBITDA margins, priced low at ~13× post-issue earnings. But profit only took off in FY26, debt is 1.75× equity, most of the issue funds working capital rather than capacity, and the issue closed only 1.25× subscribed, with individual investors at 0.78×. This is research, not investment advice.
How to check S.K. Offset IPO allotment status?
Check on the registrar Maashitla Securities Pvt. Ltd.'s site (maashitla.com/allotment-status/public-issues), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of S.K. Offset IPO?
The registrar is Maashitla Securities Pvt. Ltd.. The book-running lead manager is Comfort Securities Ltd.. The market maker is SMC Global Securities Ltd..