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₹59 - 59 Amounts at the upper price band.
Shakti Polytarp Ltd
PackagingIPOSME
₹59 - 59
Incorporated in 2018, Shakti Polytarp Limited manufactures multi-layer protective tarpaulins and warp-knitted shade nets under the "Dinotarp" brand from a single production facility in Madhya Pradesh. The business pairs custom plastic fabrication with high-volume polymer resin distribution, using bulk material purchasing to lower unit input costs across both operations.
Lot2,000Min Invest₹2,36,000Face Value₹10Issue Size₹27 CrFresh Issue₹27 Cr
Timeline
15 Sept
Bidding opens
17 Sept
Bidding closes
18 Sept
Allotment
18-21 Sept
Refund & demat credit
22 Sept
Listing
Subscription · As of 8:00 PM, 17 Sept
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB49.2x13.86 L6.82 Cr402.52NII4.79x13.68 L65.52 L38.66Retail4.12x15.80 L65.04 L38.37Total11.2x45.64 L5.11 Cr301.62
Reports
Offer Details
Terms
Issue Size₹27 Cr0.46 Cr shares
Fresh Issue₹27 Cr
Face Value₹10
Lot Size2,000 shares
ReservationQIB 31.98% · NII 31.56% · RETAIL 36.46%
Application Sizes
Retail₹2,36,0001-1 lots
sNII₹2,36,000from 2 lots
bNII₹10,62,000from 9 lots
Managers & Registrar
Lead ManagerNEXGEN Financial Solutions Private Limited
RegistrarSkyline Financial Services Pvt
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group88.51%64.93%Public11.49%35.07%
Objects of the Issue
- Capital expenditure
- Funding the Working Capital requirement
- General corporate purposes
Anchor Book
Bid Date11-Sep-2026Bid Price₹59Shares8,22,000Amount₹5 Cr30-day lock-in17-Oct-202690-day lock-in16-Dec-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 37 | 46 | 62 | 166 | 216 |
| Operating ProfitCr | 2 | 3 | 4 | 11 | 19 |
| OPM% | 6.7 | 6.7 | 6.2 | 6.4 | 8.9 |
| PBTCr | 0 | 1 | 1 | 7 | 14 |
| PATCr | 0 | 1 | 1 | 5 | 10 |
| EPS | 0 | 1 | 1 | 4 | 8 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 5 | 5 | 6 | 13 | 13 |
| ReservesCr | 2 | 3 | 5 | 5 | 15 |
| BorrowingsCr | 11 | 17 | 24 | 48 | 73 |
| Total AssetsCr | 24 | 34 | 40 | 71 | 110 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 6 | -4 | -2 | -11 | 13 |
| Investing Cash FlowCr | 0 | 0 | -5 | -9 | -37 |
| Financing Cash FlowCr | -6 | 4 | 7 | 23 | 20 |
| Net Cash FlowCr | 0 | 0 | 0 | 3 | -3 |
Strengths & Risks
Strengths · as stated in the DRHP
- Designing and execution capabilities.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our consumers.
- Quality assurance and control.
Strategies · as stated in the DRHP
- Expansion and upgradation of our manufacturing facility.
- Optimum Utilization of Resources.
Risks · as stated in the DRHP
- The company's business is substantially dependent on revenues from the manufacturing of tarpaulin and the trading of granules, and any inability to retain existing customers or attract new customers for these products may adversely affect its business.
- The property used by the company as its registered office and manufacturing facility are not owned by the company. Any termination of the relevant lease/ rent agreements could adversely affect its operations.
- Under-utilization of the company's manufacturing facility in earlier periods and any inability to effectively utilize its existing and proposed manufacturing capacity may adversely affect the company's business, future prospects and financial performance.
- The company's major revenue is sourced from manufacturing of Tarpulin. Its inability or failures to manage and attract more clients for this product could adversely affect the company's business.
- The company will avail capital subsidy under the Madhya Pradesh MSME Promotion Scheme, 2025 in respect of investments made in plant and machinery, the utilisation of which is subject to half yearly monitoring by its Audit Committee. However, there can be no assurance that such subsidy will be received in a timely manner or at all.
- The company is dependent on a limited number of customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of the company's major customers may adversely affect its business, financial condition, results of operations and prospects.