Shree TNB Polymers IPO Details

Bookbuilding IPO | ₹31 Cr | Listing at BSE SME | Fri, Sep 25, 2026 - Tue, Sep 29, 2026

Shree TNB Polymers IPO is a book build issue of ₹31.20 crores. The issue is entirely a fresh issue of 60.00 lakh shares of ₹31.20 crore.

Shree TNB Polymers IPO opens for subscription on Sep 25, 2026 and closes on Sep 29, 2026. The allotment for the Shree TNB Polymers IPO is expected to be finalized on Sep 30, 2026. Shree TNB Polymers IPO will list on the BSE SME with a tentative listing date fixed as Oct 5, 2026.

Shree TNB Polymers IPO is set issue price band at ₹47 to ₹52 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,08,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,12,000.

Corporate Makers Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Asnani Stock Broker Pvt.Ltd.

Refer to Shree TNB Polymers IPO RHP for detailed Information.

IPO Open

Fri, Sep 25, 2026

IPO Close

Tue, Sep 29, 2026

Price Band

₹47 to ₹52

Market Cap*

₹110.99 Cr * on Upper Price

IPO Details

IPO Date

25 to 29 Sep, 2026
Listing Date

Mon, Oct 5, 2026
Face Value

₹10 per share
Issue Price

₹47 to ₹52
Lot Size

2,000 Shares
Sale Type

Fresh capital only
Issue Type

Bookbuilding IPO
Listing At

BSE SME

Total Issue Size

60,00,000 shares (agg. up to ₹31 Cr)
Reserved for Market Maker

3,00,000 shares (agg. up to ₹2 Cr) Asnani Stock Broker Pvt.Ltd.
Fresh Issue (Ex Market Maker)

57,00,000 shares (agg. up to ₹30 Cr)
Net Offered to Public

57,00,000 shares (agg. up to ₹30 Cr)
Share Holding Pre Issue

1,53,44,997 shares
Share Holding Post Issue

2,13,44,997 shares

IPO Timetable (Tentative)

IPO Open

Fri, Sep 25, 2026
Allotment

Wed, Sep 30, 2026
Credit of Shares

Thu, Oct 1, 2026

IPO Close

Tue, Sep 29, 2026
Refund

Thu, Oct 1, 2026
Listing

Mon, Oct 5, 2026

Issue Reservation

Shree TNB Polymers IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 57,00,000 shares, after excluding 3,00,000 shares allotted on a firm basis. Of the Net offer 28,46,000 (49.93%) are allocated to QIB, 8,58,000 (15.05%) allocated to NII 19,96,000 (35.02%) allocated to RII.

Investor Category	Shares	% of Net Issue	% of Total Issue
QIB	28,46,000	49.93%	47.43%
− Anchor Investor	17,06,000		28.43%
− QIB (Ex. Anchor)	11,40,000		19.00%
NII (HNI)	8,58,000	15.05%	14.30%
Retail	19,96,000	35.02%	33.27%
Firm Reservations
Market Maker	3,00,000		5.00%
Total	60,00,000	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	₹2,08,000
Individual investors (IND) (Max)	2	4000	₹2,08,000
S-HNI (Min)	3	6000	₹3,12,000
S-HNI (Max)	9	18000	₹9,36,000
B-HNI (Min)	10	20000	₹10,40,000

About Shree TNB Polymers Ltd.

Incorporated on March 07, 2007, Shree TNB Polymers Limited is a Silvassa-based polymer manufacturing company specializing in piping systems and plastic solutions. The Company’s products are designed to meet the evolving demands of critical applications such as irrigation and agriculture, potable water supply schemes, sewerage and drainage systems, telecom cable protection, construction, and industrial usage.

The company offers a diversified product portfolio comprising HDPE pipes & fittings, PP (Polypropylene) and PPH (Polypropylene Homopolymer) pipes & fittings, Double Wall Corrugated (DWC) pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well pack sheets for packaging and industrial applications.

It operates two manufacturing facilities at Silvassa across 23,028 sq. mtrs. with a combined installed capacity of 24,000 MT per annum, supported by in-house quality testing laboratories and BIS/ISO certifications across multiple Indian Standards. As of March 31, 2026, the company employed 318 full-time employees and maintained a 325+ dealer/distributor network across India, with exports to UAE, Sri Lanka, Oman, and Germany.

As at July 31, 2026, we had 298 full-time employees and 39 contract labourers.

Competitive Strengths:

Strong promoter-driven business with deep market understanding and relationships. Established presence in the polymers/trading/manufacturing segment with long-standing industry experience.
Diversified product portfolio catering to multiple industrial applications
Cordial relationship with the customers/ dealers/ distributors and established manufacturing facilities
Quality Products with Certifications

Company Financials (Restated Standalone)

Shree TNB Polymers Ltd.’s revenue increased by 13% and profit after tax (PAT) rose by 24% 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	145.26	127.38	105.03
Total Income	198.31	175.70	207.97
Profit After Tax	7.13	5.77	5.03
EBITDA	19.20	15.47	15.22
NET Worth	55.68	48.55	34.21
Reserves and Surplus	40.34	38.32	25.26
Total Borrowing		38.50	35.82

Recently Listed IPOs in Plastic Products – Industrial

Company	Issue Type	Issue Size	Issue Price	PE Ratio	Listing Day Close	Listing Gain/Loss %	LTP
Manas Polymers & Energies Ltd.	SME	₹23.52 Cr	₹81	9.19	₹146.20	+80.49%	₹22.00
Manika Plastech Ltd.	Mainboard	₹125.50 Cr	₹43	18.22	₹43.14	+0.33%	₹41.79

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 for purchase of machinery

15.86
2 Capital Expenditure for the purchase and installation of Solar panel/ Roof top

2.60
3 Part finances the capital expenditure for construction/ installation of Pre-Engineered Building (PEB) structure for new manufacturing facility

1.32
4 Repayment of certain borrowings

5.62
5 General Corporate Purpose
Total

25.40

Key Performance Indicator (KPI)

KPI	Mar 31, 2026
ROE	13.69%
ROCE	16.02%
Debt/Equity	0.80
RoNW	13.95%
PAT Margin	3.60%
EBITDA Margin	9.69%
NAV	36.29
Price to Book Value	1.10

IPO Valuation

Valuation Metric	Pre IPO	Post IPO
EPS (₹)	4.65	3.34
P/E (x)	11.18	15.57
Market Cap at Offer Price	₹79.79 Cr.	₹110.99 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	45.56%	32.76%
Public	54.44%	67.24%
Total	100%	100%

Company Promoters: Vijay Jaysukhlal Thosani, Rasikbhai Gokalbhai Bhalodi, Deepak Kumar Raura, Shilpaben Rasikbhai Bhalodi, Beena Vijay Thosani, Reeta Deepak Raura, Kishan Chandulal Patel, Vipul Gokalbhai Bhalodi, Hasmukhbhai Gokalbhai Bhalodi, Jignaben Vipulbhai Bhalodi and Jalpaben Hasmukhbhai Bhalodi.

Shree TNB Polymers IPO Recommendations

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

IPO Registrar

MUFG Intime India Pvt.Ltd.

022-49186000
.smeipo@in.mpms.mufg.com
Visit Website

IPO Lead Manager(s)

Corporate Makers Capital Ltd.

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Shree TNB Polymers Ltd. Address

Sr. No. 132/1/1/4,

Behind Prince Pipes

Athalroad

Silvassa, Dadra and Nagar Haveli and Daman and Diu, 396230

+91- 9662602584
cs@shreetnbpolymers.in
Visit Website

IPO FAQs

What is the Shree TNB Polymers IPO?

Shree TNB Polymers IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹31 Crores. The issue is priced at ₹47 to ₹52. The minimum order quantity is 2000.

The IPO opens on Fri, Sep 25, 2026, and closes on Tue, Sep 29, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

How to apply in Shree TNB Polymers IPO through Angel One?

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

Steps to apply in Shree TNB Polymers IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Shree TNB Polymers 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.

When Shree TNB Polymers IPO will open?

The Shree TNB Polymers IPO opens on Fri, Sep 25, 2026 and closes on Tue, Sep 29, 2026.

What is the lot size of Shree TNB Polymers IPO?

Shree TNB Polymers IPO lot size is 2000, and the minimum amount required for application is ₹2,08,000, with 2 lots being the minimum application size.

How to apply for Shree TNB Polymers IPO?

You can apply in Shree TNB Polymers 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.

When is Shree TNB Polymers IPO allotment?

The finalization of Basis of Allotment for Shree TNB Polymers IPO will be done on Wednesday, September 30, 2026, and the allotted shares will be credited to your demat account by Thu, Oct 1, 2026. Check the Shree TNB Polymers IPO allotment status.

When is Shree TNB Polymers IPO listing date ?

The Shree TNB Polymers IPO listing date is not yet announced. The tentative date of listing is Mon, Oct 5, 2026.