Tenty Limited
DRHP · filed 05 Oct 2026
This is a draft. SEBI has not cleared it, there is no final price yet, and it may never become an IPO.
Tenty Limited is a manufacturer of rigid plastic packaging products, writing instruments, and electric fans and household electrical appliances. The company reported a revenue of Rs 822.25 crore and a profit after tax of Rs 22.65 crore in the latest fiscal year, with revenue growing at a CAGR of 50.66%. The IPO is structured as an offer for sale, with no fresh issue of shares. The most material risks include a high customer concentration risk where 15.08% to 29.15% of revenue comes from Linc Limited, a pledge of 26% of a subsidiary's shares to Wonder Electricals, and dependence on third-party suppliers for raw materials and finished goods.
What stands out
Large related-party dealings. Related-party transactions are 28.6% of revenue.
Risk factor. The Company has pledged 26% of the equity share capital of its Material Subsidiary, Polar Elektric Limited, to Wonder Electricals Limited as security for payment obligations. If Wonder invokes the pledge due to a default, it could acquire 26% of Polar's shares, diluting the Company's effective share
Risk factor. The Company's business is significantly dependent on Linc Limited, which accounted for 15.08%, 28.55%, and 29.15% of Revenue from Operations in the Fiscals 2026, 2025, and 2024, respectively. Any disruption in this relationship could adversely affect operations and financial performance.
Risk factor. The supply agreement with Linc does not assure minimum order quantities, and Linc is under no obligation to procure exclusively from the Company or continue sourcing beyond current orders. Linc may diversify sourcing or develop in-house capabilities, leading to reduced orders, pricing pressures, and
Strong revenue growth. Restated revenue CAGR of 50.7%.
How the offer is structured
- Repayment/prepayment, in full or in part, of certain borrowings availed by our Company
- Infusion of funds in our Material Subsidiary, Polar Elektric Limited, for repayment/prepayment, in full or in part, of certain borrowings availed by PEL
- Infusion of funds in our Material Subsidiary, Polar Elektric Limited, for funding its working capital requirement
- Infusion of funds in our Material Subsidiary, Polar Elektric Limited, for marketing and advertising
- General corporate purposes
Restated financials
Revenue
₹822 Cr
Latest fiscal year
Profit after tax
₹22.6 Cr
Revenue CAGR
50.7%
Return on equity
6.5%
Debt / equity
0.75
PAT CAGR
60.9%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹362 Cr | ₹8.7 Cr | ₹96.2 Cr | |
| 2025 | ₹415 Cr | ₹6.8 Cr | ₹319 Cr | |
| 2026 | ₹822 Cr | ₹22.6 Cr | ₹348 Cr |
Promoters, litigation & related parties
Promoter (pre)
75.6%
Related-party
28.6%
Share of revenue
Proceedings
388
Risks the company discloses
The Company has pledged 26% of the equity share capital of its Material Subsidiary, Polar Elektric Limited, to Wonder Electricals Limited as security for payment obligations. If Wonder invokes the pledge due to a default, it could acquire 26% of Polar's shares, diluting the Company's effective shareholding and control, and adversely impacting business and financial results.(Corporate Governance / Subsidiary Risk)
The Company's business is significantly dependent on Linc Limited, which accounted for 15.08%, 28.55%, and 29.15% of Revenue from Operations in the Fiscals 2026, 2025, and 2024, respectively. Any disruption in this relationship could adversely affect operations and financial performance.(Customer Concentration Risk)
The supply agreement with Linc does not assure minimum order quantities, and Linc is under no obligation to procure exclusively from the Company or continue sourcing beyond current orders. Linc may diversify sourcing or develop in-house capabilities, leading to reduced orders, pricing pressures, and a decline in revenue and profitability.(Customer Concentration Risk)
The Company is dependent on third-party suppliers for raw materials and finished goods. The absence of long-term supply contracts exposes the Company to risks including supply disruptions, price fluctuations, and challenges in maintaining competitive pricing and profitability.(Supply Chain Risk)
The Company's manufacturing operations are dependent on the timely and adequate procurement of raw materials, primarily comprising plastic granules, RPP Product components, writing instrument components, and electric fan and household electrical appliance components.(Supply Chain Risk)
The Company's trading business depends on the supply of finished electrical fans and household electrical appliances sourced from third-party manufacturers. Any disruption in the supply or availability of these goods may adversely impact the business, results of operations, cash flows, and financial condition.(Supply Chain Risk)
The Company's business is subject to risks associated with the rigid plastic packaging products, writing instruments, and electric fan and household electrical appliances industries, including price volatility, changes in consumer preferences, and competition.(Industry Risk)
The Company's financial year ends on March 31 of each year, and all financial information is based on the Restated Consolidated Financial Information. The Company is incorporated under the laws of India and is subject to a legal and regulatory environment that may differ from other countries.(Regulatory / Operational Risk)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

