Shakti Polytarp IPO
ListedSMEPackaging
11.87×
Subscribed
Price band
₹59 – ₹59
Lot size
2,000
1 lot = ₹1,18,000
Issue size
₹26.93 Cr
Open – close
15 Sept 2026
to 17 Sept 2026
Listing
22 Sept 2026
Listing gain
-0.17%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
We can't judge this issue yet. A verdict needs at least three independent dimensions — valuation, growth, profitability, balance sheet, issue structure, governance or demand — and this issue does not yet publish enough of them for a read that would mean anything. The offer document has been analysed but reports too few of these to conclude on. A confident score from two fields would be worse than this notice.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens15 Sept 2026
- Closes17 Sept 2026
- Allotment18 Sept 2026
- Listing22 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB49.22x
Non-institutionalNII / HNI5.43x
Big NIIabove ₹10L6.11x
Small NII₹2L – ₹10L4.05x
Retail individualRII4.12x
2,173 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 17 Sept 2026.
Chance of allotment
Retail4.12× subscribed
~1 in 4.1
Minimum 2 lots · 4,000 shares · ₹2,36,000 blocked
Retail is 4.12× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 4.1 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII5.43× subscribed
~1 in 5.4
Minimum 1 lot · 2,000 shares · ₹1,18,000 blocked
HNI is 5.43× subscribed. This category is allotted proportionately, so a bid receives roughly 1/5.4 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
₹10+16.9%
over the upper band · last seen 23 Sept 2026 · rising since 17 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₹59 – ₹59
Face value₹10
Lot size2,000shares
Minimum application₹1,18,000at cut-off
Total issue size₹26.93 Cr
Listing atSME platform
Anchor investorsAllotted
Company & valuation
ROE44.04%
ROCE17.87%
Debt/Equity2.60
RoNW44.04%
PAT Margin4.66%
EBITDA Margin8.94%
NAV22.18
Price to Book Value2.66
ISININE05UY01016
RegistrarSkyline Financial Services Pvt
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 13,86,000 | 30.37% |
| Anchor Investor | 8,22,000 | 18.01% |
| QIB (Ex. Anchor) | 5,64,000 | 12.36% |
| NII (HNI) | 13,68,000 | 29.97% |
| bNII > ₹10L | 9,12,000 | 19.98% |
| sNII < ₹10L | 4,56,000 | 9.99% |
| Retail | 15,80,000 | 34.62% |
| Market Maker | 2,30,000 | 5.04% |
Total issue 45,64,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,36,0002 lots · 4,000 sh
Individual investors (IND) (Max)₹2,36,0002 lots · 4,000 sh
S-HNI (Min)₹3,54,0003 lots · 6,000 sh
S-HNI (Max)₹9,44,0008 lots · 16,000 sh
B-HNI (Min)₹10,62,0009 lots · 18,000 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted8,22,000
Anchor portion₹4.85 Cr
Bid date11 Sept 2026
Lock-in ends (50%)18 Oct 2026
Lock-in ends (rest)17 Dec 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
- 01Capital Expenditure₹19.88 Cr
- 02General Corporate Purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Shakti Polytarp Limitedthis issue | 4.09 | — | 14.17 | 34.68% |
| Commercial Syn Bags Limited | 3.48 | 84.67 | 36.53 | 10.00% |
| Shree Tirupati Balajee Agro Trading Company Ltd | 1.98 | 110.22 | 30.49 | 8.00% |
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's registered office and manufacturing facility are not owned by the company and are taken on lease/rent. Any termination of relevant lease/rent agreements or failure to pay annual lease/rental could adversely affect operations. Periodic renewals may increase costs due to rent escalation,
mediumThe company is not currently utilizing its manufacturing capacity at maximum levels. Under-utilization of current facility and inability to effectively utilize proposed manufacturing capacity could adversely affect business, future prospects, and financial performance.
mediumThe company derives a significant portion of its revenues from a limited number of clients. The loss of a major customer or significant reduction in demand from any major customer may adversely affect business, financial condition, results of operations, and prospects.
mediumThe company's Top 10 Suppliers contribute a significant portion (60% to 93%) of total raw material. Any dispute with one or more of them may adversely affect business operations, profitability, and reputation.
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
-13.8%
Dudani Retail
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%
Dudani Retailsame segment
1.4× sub-13.8%
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 Shakti Polytarp
Shakti Polytarp is a manufacturer of tarpaulin and water-resistant materials used for protecting goods, equipment, and other products from rain, moisture, and weather-related exposure. Its tarpaulins are manufactured using PP granules, LLDPE, LDPE, and HDPE and are available in different sizes, colours, specifications and thicknesses ranging from 70 GSM to 450 GSM. The company specialises in manufacturing six-layer and eight-layer tarpaulins and sells its products under the brand name Dinotarp. Its manufacturing unit is located at Nimrani, Khargone, Madhya Pradesh, and spans approximately 198,450 sq. ft. The facility is equipped with an extrusion tape line, extrusion lamination, circular looms, sealing machines, and recycling machines. Products undergo examination, testing, and evaluation for compliance with customer specifications and industry standards. The company also sells granules used as raw materials in tarpaulin manufacturing. It primarily operates on a B2B model, supplying products to businesses across industries, while also catering to B2C customers.
Founded 2018MD Mr. Ravi SinghalSector Packaging
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Shakti Polytarp IPO GMP today?
The most recent grey-market premium recorded for Shakti Polytarp is ₹10 per share — about 16.9% over the ₹59 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 Shakti Polytarp IPO subscribed?
Shakti Polytarp is subscribed 11.87× overall (QIB 49.22×, NII 5.43×, retail 4.12×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Skyline Financial Services Pvt.
What is the minimum investment in the Shakti Polytarp IPO?
One lot is 2,000 shares, so a retail application at the ₹59 cut-off price blocks ₹1,18,000. 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 Shakti Polytarp IPO?
The retail portion is subscribed 4.12×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 4. 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 Shakti Polytarp IPO allotment date?
Allotment is scheduled for 2026-09-18, with listing on 2026-09-22. 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, Skyline Financial Services Pvt.
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.