SME
IPO ·
BSE SME
Shakti Polytarp Ltd
Listed
Makes tarpaulins and shade nets under the Dinotarp brand from a plant in Khargone, MP.
Issue details
Price band
₹56 – ₹59
Face value
₹10
Lot size
2,000 shares
Minimum investment
₹2,36,000
Issue size
₹26.93 Cr
Fresh issue
₹26.93 Cr
Offer for sale
—
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
15 Sep 2026
Closes
17 Sep 2026
UPI mandate cut-off
5:00 PM on 17 Sep 2026
Allotment
18 Sep 2026
Refunds
21 Sep 2026
Shares in demat
21 Sep 2026
Listing
22 Sep 2026
Subscription and listing
Subscription
9.91x
Listing price
₹58.90
Registrar
Skyline Financial Services Pvt Ltd
Lead manager
NEXGEN Financial Solutions Pvt Ltd
Subscription by category
Total
9.91x
Total applications
2,144
Anchor investors
Amount raised
₹4.85 Cr
Bid date
11 Sep 2026
50% lock-in ends
18 Oct 2026
Rest lock-in ends
17 Dec 2026
Listing day
Issue price
₹59
Open
₹58.90
High
₹61.40
Low
₹56.36
Day close
₹57.08
Listing gain at open
-0.17%
Issue structure
Shares reserved per category and share of the total issue
QIB
13,86,000
30.37%
Anchor Investor
8,22,000
18.01%
QIB (Ex. Anchor)
5,64,000
12.36%
NII
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
45,64,000
100.00%
Finaccle’s quick read
Avoid
Debt/equity is 2.60 with borrowings of ₹72.51 Cr against net worth of ₹27.86 Cr. PAT rose from ₹0.98 Cr in FY24 to ₹10.06 Cr in FY26, a spike on a small base.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Shakti Polytarp makes multi-layer tarpaulins and shade nets under the Dinotarp brand at a plant in Khargone district, with its registered office in Indore, Madhya Pradesh. It sells mainly to business buyers in agriculture, construction, logistics and automotive, and also sells plastic granules. It had 114 employees and FY26 income of about ₹216 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
44.04%
ROCE
17.87%
Debt / equity
2.60
PAT margin
4.66%
P/E post issue
10.05
Market cap
₹101.06 Cr
Use of IPO money
Capital expenditure
₹20.88 Cr
General corporate purposes
₹2.54 Cr
Issue expenses
₹3.50 Cr
Strengths
✓
In-house six- and eight-layer tarpaulin manufacturing
✓
Products serve many end industries
✓
Entirely fresh issue funding capex
✓
Low post-issue P/E of 10.05
Risks to watch
!
High debt/equity of 2.60
!
Borrowings tripled from ₹23.36 Cr to ₹72.51 Cr in two years
!
PAT jumped from ₹0.98 Cr to ₹10.06 Cr just before the IPO
!
Thin PAT margin of 4.66%
!
Small net worth of ₹27.86 Cr
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.