Anubhav Plast IPO
ListedSME
2.18×
Subscribed
Price band
₹80 – ₹80
Issue size
₹24 Cr
Open – close
19 Jun 2026
to 23 Jun 2026
Listing
29 Jun 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Mixed5 of 7 dimensions read
A mixed but reasonable offering — 2 positive against 1 negative signals
Strength59/100
- Undemanding valuation10.7× earnings at the upper band, with no peer set published to compare against
- Revenue shrinkingRevenue has contracted at 2.6% a year — the company is coming to market on a declining top line
- Profit growth outpaces salesPAT up 92.4% a year against revenue at -2.6% — check whether that is operating leverage or a one-off before extrapolating it
- High return on equityROE of 25.4%
- Meaningful leverageDebt/equity of 1.67×
- Institutional book coveredQIB portion subscribed 1.23×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens19 Jun 2026
- Closes23 Jun 2026
- Listing29 Jun 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.23x
Non-institutionalNII / HNI2.49x
Big NIIabove ₹10L2.34x
Small NII₹2L – ₹10L2.78x
Retail individualRII2.60x
919 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 23 Jun 2026.
Chance of allotment
Retail2.60× subscribed
~1 in 2.6
Retail is 2.6× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.6 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII2.49× subscribed
~1 in 2.5
HNI is 2.49× subscribed. This category is allotted proportionately, so a bid receives roughly 1/2.5 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹0+0.0%
over the upper band · last seen 07 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹80 – ₹80
Total issue size₹24 Cr
Listing atSME platform
Company & valuation
P/E at upper band10.68×
EPS₹7.50pre-issue
NAV per share₹19.44
Return on equity25.41%
Debt / equity1.67×
ROCE42.65%
RoNW29.10%
PAT Margin6.58%
EBITDA Margin12.78%
NAV26.06
ISININE1O7201010
RegistrarBIGSHARE SERVICES PRIVATE LIMITED
Lead managersCAPITALSQUARE ADVISORS PRIVATE LIMITED
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB Shares Offered | 14,19,200 | 47.31% |
| Anchor Investor Shares Offered | 8,48,000 | 28.27% |
| QIB (Ex. Anchor) Shares Offered | 5,71,200 | 19.04% |
| NII (HNI) Shares Offered | 4,32,000 | 14.40% |
| bNII > ₹10L | 2,88,000 | 9.60% |
| sNII < ₹10L | 1,44,000 | 4.80% |
| Retail Shares Offered | 9,98,400 | 33.28% |
| Market Maker Shares Offered | 1,50,400 | 5.01% |
Total issue 30,00,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,56,0002 lots · 3,200 sh
Individual investors (IND) (Max)₹2,56,0002 lots · 3,200 sh
S-HNI (Min)₹3,84,0003 lots · 4,800 sh
S-HNI (Max)₹8,96,0007 lots · 11,200 sh
B-HNI (Min)₹10,24,0008 lots · 12,800 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted8,48,000
Anchor portion₹6.78 Cr
Bid date18 Jun 2026
Lock-in ends (50%)23 Jul 2026
Lock-in ends (rest)21 Sept 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Establishment of a new manufacturing facility for the production of crash barriers and solar panel structures within the existing manufacturing premises₹2.2 Cr
- 02To meet Working Capital requirements₹13.75 Cr
- 03General Corporate Purpose₹3.37 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2022 | 87.137 | — | 0.744 | 7.473 | 27.395 |
| 2023 | 87.327 | — | 2.08 | 9.553 | 22.136 |
| 2024 | 98.167 | — | 5.997 | 15.549 | 32.932 |
| 2025 | 80.489 | — | 5.296 | 20.845 | 34.812 |
Revenue CAGR -2.6%PAT CAGR 92.4%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Anubhav Plast Limitedthis issue | 7.50 | 10.67 | 19.44 | 47.78% |
| New Malayalam Steel Limited | 3.19 | 7.45 | 5.63 | 45.32% |
| P S Raj Steels Limited | 398.40 | 40.53 | 11.41 | 86.14% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Shrinking revenuemedium
Restated revenue CAGR of -2.6%.
mediumA significant portion of revenue is derived from private clients and government entities; loss of significant non-government customers, reduction or cancellation of orders, or inability to secure repeat business could adversely affect revenues.
mediumThe company has entered into related party transactions with Anubhav Tubes & Conductors Private Limited (ATCPL), a major customer, accounting for 23.42%, 39.73%, 29.74%, and 37.42% of revenue for FY 2025, FY 2023, FY 2024 and FY 2025 respectively.
Positives the filing discloses (1)
Healthy return on equity
ROE of 25.4%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Anubhav Plast IPO GMP today?
The most recent grey-market premium recorded for Anubhav Plast is ₹0 per share — about 0.0% over the ₹80 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Anubhav Plast IPO subscribed?
Anubhav Plast is subscribed 2.18× overall (QIB 1.23×, NII 2.49×, retail 2.60×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, BIGSHARE SERVICES PRIVATE LIMITED.
What are the chances of allotment in the Anubhav Plast IPO?
The retail portion is subscribed 2.60×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 3. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.