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IPO Open

Tue, Sep 15, 2026

IPO Close

Thu, Sep 17, 2026

Price Band

₹56 to ₹59

Market Cap*

₹101.06 Cr * on Upper Price

IPO Details

  • IPO Date
    15 to 17 Sep, 2026
  • Listing Date
    Tue, Sep 22, 2026
  • Face Value
    ₹10 per share
  • Price Band
    ₹56 to ₹59
  • Lot Size
    2,000 Shares
  • Sale Type
    Fresh capital only
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE SME
  • Total Issue Size
    45,64,000 shares (agg. up to ₹27 Cr)
  • Reserved for Market Maker
    2,30,000 shares (agg. up to ₹1 Cr) Prabhat Financial Services Ltd.
  • Fresh Issue (Ex Market Maker)
    43,34,000 shares (agg. up to ₹26 Cr)
  • Offer for Sale
    43,34,000 shares (agg. up to ₹26 Cr)
  • Net Offered to Public
    40,92,000 shares (agg. up to ₹76 Cr)
  • Share Holding Pre Issue
    1,25,64,000 shares
  • Share Holding Post Issue
    1,71,28,000 shares

  • IPO Open
    Tue, Sep 15, 2026
  • Allotment
    Fri, Sep 18, 2026
  • Credit of Shares
    Mon, Sep 21, 2026
  • IPO Close
    Thu, Sep 17, 2026
  • Refund
    Mon, Sep 21, 2026
  • Listing
    Tue, Sep 22, 2026

Issue Reservation

Shakti Polytarp IPO comprises a total issue size of 45,64,000 shares. The net offer to the public is 43,34,000 shares, after excluding 2,30,000 shares allotted on a firm basis. Of the Net offer 13,86,000 (31.98%) are allocated to QIB, 13,68,000 (31.56%) allocated to NII 15,80,000 (36.46%) allocated to RII.

Investor Category Shares % of Net Issue % of Total Issue
QIB 13,86,000 31.98% 30.37%
  − Anchor Investor 8,22,000 18.01%
  − QIB (Ex. Anchor) 5,64,000 12.36%
NII (HNI) 13,68,000 31.56% 29.97%
  − bNII > ₹10L 9,12,000 19.98%
  − sNII < ₹10L 4,56,000 9.99%
Retail 15,80,000 36.46% 34.62%
Firm Reservations
Market Maker 2,30,000 5.04%
Total 45,64,000 100.00% 100.00%

IPO Lot Size

Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.

Application Lots Shares Amount
Individual investors (IND) (Min) 2 4000 ₹2,36,000
Individual investors (IND) (Max) 2 4000 ₹2,36,000
S-HNI (Min) 3 6000 ₹3,54,000
S-HNI (Max) 8 16000 ₹9,44,000
B-HNI (Min) 9 18000 ₹10,62,000

About Shakti Polytarp Ltd.

Incorporated in March 2018 as Shakti Polytarp Limited, the Company is engaged in the manufacturing of tarpaulins and other plastic-based products, including shade nets. Tarpaulins are water-resistant and durable sheets used to protect goods, equipment and other materials from rain, moisture, sunlight and other environmental conditions.

The Company manufactures tarpaulins using Polypropylene (PP) granules, Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE) and High-Density Polyethylene (HDPE). Its products are available in different sizes, colours, thicknesses and specifications as per customer requirements, with a particular focus on manufacturing six-layer and eight-layer durable tarpaulins. The products are marketed under the “Dinotarp” brand and find applications across agriculture, construction, automotive, transportation and logistics, consumer goods and other industries.

The Company primarily operates under a B2B business model, supplying products through bulk orders to businesses and industrial customers, while also catering to the B2C segment. In addition to manufacturing tarpaulins, the Company is engaged in the sale of plastic granules, which are used as raw materials in the production of tarpaulins. The Company also provides design and customisation options based on the intended application of its products.

The Company’s manufacturing facility is located at Nimrani, Khargone, Madhya Pradesh, spread across approximately 1,98,450 sq. ft. The facility is equipped with high-speed extrusion tapelines, extra-wide extrusion lamination machines, high-speed wide-width circular looms, high-strength sealing machines and recycling machines. The integrated machinery and in-built software systems support production efficiency, accuracy and quality control. The facility is capable of producing tarpaulins ranging from 70 GSM to 450 GSM.

As of June 30, 2026, the Company had 114 permanent employees, with the majority engaged in operations and manufacturing activities.

Competitive Strengths

  • Established client relationships.
  • Product customisation capabilities.
  • Experienced and qualified management team.
  • Diverse applications across multiple industries.
  • In-house manufacturing facility with integrated machinery.
  • Six-layer and eight-layer tarpaulin manufacturing capabilities.

    (Updated on Sep 9, 2026)

Company Financials (Restated)

Shakti Polytarp Ltd.’s revenue increased by 30% and profit after tax (PAT) rose by 102% between the financial year ending with March 31, 2026 and March 31, 2025.   (Amount in ₹ Crore)

Period Ended 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 110.12 71.39 40.29
Total Income 216.10 166.50 62.23
Profit After Tax 10.06 4.97 0.98
EBITDA 19.29 10.69 3.83
NET Worth 27.86 17.80 10.84
Reserves and Surplus 15.30 5.24 5.13
Total Borrowing 72.51 48.00 23.36

Recently Listed IPOs in Packaging

Company Issue Type Issue Size Issue Price PE Ratio Listing Day Close Listing Gain/Loss % LTP
Dhaval Packaging Ltd. SME ₹36.36 Cr ₹97 12.05 ₹111.68 +15.13% ₹115.45
Diksha Polymers Ltd. SME ₹17.90 Cr ₹112 9.79 ₹120.20 +7.32% ₹200.00
RFBL Flexi Pack Ltd. SME ₹35.33 Cr ₹50 9.75 ₹55.10 +10.20% ₹91.35

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 Capital Expenditure
    20.88
  • 4 General Corporate Purposes
  • Total
    20.88

Key Performance Indicator (KPI)

KPI Mar 31, 2026
ROE 44.04%
ROCE 17.87%
Debt/Equity 2.60
RoNW 44.04%
PAT Margin 4.66%
EBITDA Margin 8.94%
NAV 22.18
Price to Book Value 2.66

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 8.00 5.87
P/E (x) 7.38 10.05
Market Cap at Offer Price ₹74Cr. ₹101.06 Cr
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 90.9% 66.67%
Public 9.10% 33.33%
Total 100% 100%

Company Promoters: Ravi Singhal, Vivek Singhal, Trisha Singhal and Priyal Singhal.

Shakti Polytarp IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

Skyline Financial Services Pvt.Ltd.

IPO Lead Manager(s)

  1. NEXGEN Financial Solutions Pvt.Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Shakti Polytarp Ltd. Address
Shop No. 4, 4/1
Nayapura Main Road
Indore, Madhya Pradesh, 452009

IPO FAQs

Shakti Polytarp IPO is a SME IPO of 45,64,000 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹56 to ₹59. The minimum order quantity is 2000.

The IPO opens on Tue, Sep 15, 2026, and closes on Thu, Sep 17, 2026.

Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Angel One customers can apply online in Shakti Polytarp IPO using UPI as a payment gateway. Angel One customers can apply in Shakti Polytarp IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Shakti Polytarp IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Shakti Polytarp IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Shakti Polytarp IPO opens on Tue, Sep 15, 2026 and closes on Thu, Sep 17, 2026.

Shakti Polytarp IPO lot size is 2000, and the minimum amount required for application is ₹2,36,000, with 2 lots being the minimum application size.

You can apply in Shakti Polytarp IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Shakti Polytarp IPO will be done on Friday, September 18, 2026, and the allotted shares will be credited to your demat account by Mon, Sep 21, 2026. Check the Shakti Polytarp IPO allotment status.

The Shakti Polytarp IPO listing date is not yet announced. The tentative date of listing is Tue, Sep 22, 2026.

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