Panchatv Bharat IPO
ListedSMETrading
1.40×
Subscribed
Price band
₹140 – ₹140
Lot size
1,000
1 lot = ₹1,40,000
Issue size
₹24.58 Cr
Open – close
10 Sept 2026
to 15 Sept 2026
Listing
18 Sept 2026
Listing gain
-7.89%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong4 of 7 dimensions read
The disclosed numbers are strong — 3 of 5 signals read positive
Strength76/100
- Strong revenue growthRevenue compounding at 41.5% across the reported years
- Profit growth outpaces salesPAT up 189.4% a year against revenue at 41.5% — check whether that is operating leverage or a one-off before extrapolating it
- High return on equityROE of 31.3%
- Conservative balance sheetDebt/equity of 0.86×
- Book coveredThe book is subscribed 1.40× overall
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, and is pulled toward neutral to reflect how much the document leaves unsaid. 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
- Opens10 Sept 2026
- Closes15 Sept 2026
- Allotment16 Sept 2026
- Listing18 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Non-institutionalNII / HNI0.39x
Retail individualRII2.42x
1,112 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 15 Sept 2026.
Chance of allotment
Retail2.42× subscribed
~1 in 2.4
Minimum 2 lots · 2,000 shares · ₹2,80,000 blocked
Retail is 2.42× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.4 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII0.39× subscribed
Full allotment
Minimum 1 lot · 1,000 shares · ₹1,40,000 blocked
The HNI portion is under-subscribed at 0.39×, so applications should be allotted in full.
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
₹21+15.0%
over the upper band · last seen 22 Sept 2026 · rising since 13 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₹140 – ₹140
Face value₹10
Lot size1,000shares
Minimum application₹1,40,000at cut-off
Total issue size₹24.58 Cr
Listing atSME platform
Anchor investorsNone
Company & valuation
Return on equity31.25%
Debt / equity0.86×
ROCE24.01%
RoNW31.93%
PAT Margin7.09%
EBITDA Margin11.32%
NAV30.83
Price to Book Value4.54
ISININE0VXN01011
RegistrarMaashitla Securities Pvt Ltd
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| NII (HNI) | 8,34,000 | 47.49% |
| Retail | 8,34,000 | 47.49% |
| Market Maker | 88,000 | 5.01% |
Total issue 17,56,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,80,0002 lots · 2,000 sh
Individual investors (IND) (Max)₹2,80,0002 lots · 2,000 sh
HNI (Min)₹4,20,0003 lots · 3,000 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
What the money is for
Stated use of the net proceeds
- 01Funding of capital expenditure towards purchase of property at Delhi₹4.5 Cr
- 02Funding working capital requirements of our Company₹11.5 Cr
- 03General corporate purposes₹3 Cr
- 04Issue related expenses₹2.08 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2022-23 | 24.454 | 0.47 | 0.338 | 1.1 | 7.077 |
| 2023-24 | 39.313 | 2.729 | 2.021 | 3.392 | 7.663 |
| 2024-25 | 48.993 | 3.721 | 2.828 | 9.049 | 7.737 |
Revenue CAGR 41.5%PAT CAGR 189.4%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Panchatv Bharat Limitedthis issue | 7.94 | — | 22.10 | 31.25% |
| Anjani Synthetics Limited | 3.17 | 15.07 | 58.22 | 3.87% |
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
mediumThe Company has a limited operating history as a company, having been incorporated on March 6, 2024, and acquired the businesses of past proprietorship firms. Consequently, the Company's future revenues and profitability are difficult to estimate and could fluctuate significantly.
mediumThe Company outsources its manufacturing processes to third parties without exclusivity arrangements. Any inability to obtain sufficient quantities of processed materials of the requisite quality in a timely manner, or any slowdown, shutdown, or disruption in the operations of these third parties co
Positives the filing discloses (2)
Strong revenue growth
Restated revenue CAGR of 41.5%.
Healthy return on equity
ROE of 31.2%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-1.0%
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%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Green Asia Impexsame segment
1.0× sub+0.0%
Himalayan Solarsame segment
1.2× sub-17.5%
Bench Mark Infotechsame segment
96.0× sub+0.0%
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.
About Panchatv Bharat
Panchatv Bharat Limited is a manufacturer and wholesale distributor of denim fabrics in India. The company offers grey fabrics and finished denim fabrics, which are distributed across markets including Delhi, Uttar Pradesh, Gujarat, Haryana, and Rajasthan. Its denim fabrics are manufactured under its own brand through third-party manufacturing arrangements and a leased self-production facility. The company has partnered with manufacturing facilities in Narol and Piplaj, Ahmedabad, for outsourced production, where finished denim fabrics are produced from cotton yarn supplied by the company. The manufacturing process includes yarn warping, yarn dyeing, weaving through air jet looms, finishing treatments, and fabric inspection. The company also procures fabrics from distributors and suppliers for wholesale distribution. In addition to third-party manufacturing and trading activities, the company has set up a limited self-manufacturing line using leased machinery, with commercial operations yet to commence in full. The company was incorporated in March 2024.
Founded 2024MD Mr Sanjay GuptaSector Trading
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Panchatv Bharat IPO GMP today?
The most recent grey-market premium recorded for Panchatv Bharat is ₹21 per share — about 15.0% over the ₹140 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 Panchatv Bharat IPO subscribed?
Panchatv Bharat is subscribed 1.40× overall (NII 0.39×, retail 2.42×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Maashitla Securities Pvt Ltd.
What is the minimum investment in the Panchatv Bharat IPO?
One lot is 1,000 shares, so a retail application at the ₹140 cut-off price blocks ₹1,40,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Panchatv Bharat IPO?
The retail portion is subscribed 2.42×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Panchatv Bharat IPO allotment date?
Allotment is scheduled for 2026-09-16, with listing on 2026-09-18. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, Maashitla Securities Pvt Ltd.
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.