Antala Industries IPO is a BSE SME book-built public issue of Antala Industries Limited. The IPO comprises a fresh issue of 34,82,000 equity shares with an issue size of up to ₹23.33 crore. There is no Offer for Sale (OFS), meaning the entire issue consists of newly issued shares. The company intends to list its equity shares on the BSE SME platform after completion of the IPO process.
The Antala Industries IPO is scheduled to open for subscription on October 29, 2026, and close on November 2, 2026. The price band has been fixed at ₹63 to ₹67 per equity share, with a lot size of 2,000 shares. At the upper price band, the minimum retail application requires 4,000 shares, amounting to ₹2,68,000. The minimum application for small high-net-worth individual investors (S-HNI) is ₹4,02,000.
Antala Industries Limited operates in the industrial and commercial packaging sector. The company manufactures and supplies BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags, and PP woven lamination rolls. Its integrated manufacturing operations include printing, extrusion, coating, lamination, stitching, and finishing, enabling it to offer packaging products tailored to customer requirements across different industries.
The company plans to utilise the net proceeds from the fresh issue primarily to meet working capital requirements, purchase machinery, and support general corporate purposes. Investors should evaluate its financial performance, manufacturing capabilities, customer relationships, industry conditions, issue valuation, and business risks before making an investment decision.
Table of Contents
IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Antala Industries IPO |
| Company Name | Antala Industries Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 per equity share |
| Price Band | ₹63 to ₹67 per share |
| Issue Size | ₹23.33 crore |
| Fresh Issue | 34,82,000 shares, aggregating up to ₹23.33 crore |
| Offer for Sale | Nil |
| IPO Open Date | 29 October 2026 |
| IPO Close Date | 2 November 2026 |
| Anchor Investor Bidding | Not specified |
| Basis of Allotment | 3 November 2026 |
| Refund Initiation | 4 November 2026 |
| Shares Credited to Demat Account | 4 November 2026 |
| Listing Date | 5 November 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 2,000 equity shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Vatsa Capital Venture Private Limited |
| Market Maker | Asnani Stock Broker Private Limited |
The company proposes to use the proceeds from the fresh issue to support its working capital requirements, acquire machinery, and meet general corporate expenses. Since the issue does not include an OFS, the issue proceeds, after applicable expenses, are intended for the company rather than selling shareholders.
Antala Industries IPO Dates
| IPO Event | Date |
|---|---|
| IPO Opening Date | 29 October 2026 |
| IPO Closing Date | 2 November 2026 |
| Basis of Allotment | 3 November 2026 |
| Refund Initiation | 4 November 2026 |
| Shares Credited to Demat Account | 4 November 2026 |
| Listing Date | 5 November 2026 |
After the allotment process is completed, successful applicants are expected to receive shares in their demat accounts, while refunds for unsuccessful or partially successful applications are expected to be initiated according to the IPO schedule.
Antala Industries IPO Reservation
Antala Industries IPO comprises 34,82,000 equity shares, including 1,76,000 shares reserved for the market maker. The net issue available to public investors is 33,06,000 shares. The investor-category allocation is structured across qualified institutional buyers, non-institutional investors, and retail individual investors.
| Investor Category | Shares | % of Net Issue |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 36,000 | 1.09% |
| Non-Institutional Investors (NII/HNI) | 5,10,000 | 15.43% |
| — bNII (Above ₹10 lakh) | 3,42,000 | — |
| — sNII (Below ₹10 lakh) | 1,68,000 | — |
| Retail Individual Investors (RII) | 27,60,000 | 83.48% |
| Market Maker Reservation | 1,76,000 | Not applicable |
The final allocation to investors depends on valid applications received during the bidding period and the applicable allotment process.
Antala Industries IPO Lot Size
Investors can apply for a minimum of 4,000 shares, equivalent to two lots, and in multiples of 2,000 shares thereafter. The following application amounts are calculated at the upper price band of ₹67 per share.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Investors (IND) — Minimum | 2 | 4,000 | ₹2,68,000 |
| Individual Investors (IND) — Maximum | 2 | 4,000 | ₹2,68,000 |
| S-HNI — Minimum | 3 | 6,000 | ₹4,02,000 |
| S-HNI — Maximum | 7 | 14,000 | ₹9,38,000 |
| B-HNI — Minimum | 8 | 16,000 | ₹10,72,000 |
The investment amounts represent the application value at the upper price band and do not include any separate charges that may apply through an investor’s broker or intermediary.
About Antala Industries Limited
Antala Industries Limited was incorporated in August 2024 and is engaged in the manufacturing, processing, printing, laminating, and supply of industrial and commercial packaging products. The company focuses on packaging solutions designed to provide strength, durability, moisture resistance, print quality, and product visibility.
Its product portfolio includes BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags, and PP woven lamination rolls. These products serve customers in industries such as food processing, fertilizers, chemicals, cement, seeds, and other commercial and industrial applications. The company’s manufacturing capabilities support the production of customised packaging products according to customer specifications.
The company operates an integrated manufacturing facility in Rajkot, Gujarat. Its operations include extrusion, coating, lamination, rotogravure printing, stitching, and finishing. Integrating these activities enables the company to manage several stages of production and maintain control over product quality, processing requirements, and delivery schedules.
Antala Industries is backed by promoters with substantial experience in the packaging industry. The company also reports ISO 9001:2015, ISO 14001:2015, ISO 22000:2018, and ISO 45001:2018 certifications, covering quality management, environmental management, food safety management, and occupational health and safety management, respectively.
As of September 30, 2026, the company had 11 employees across production, management, accounts and finance, administration, sales, and secretarial functions. Its business strategy centres on serving multiple end-user industries, offering customised packaging products, strengthening customer relationships, and improving manufacturing efficiency.
Business Operations
Antala Industries Limited operates in the industrial packaging segment, with its business organised around the following products and manufacturing activities.
- BOPP Bags: Packaging bags used for food products, fertilisers, seeds, chemicals, and other commercial applications. These bags combine printed designs with functional packaging requirements.
- BOPP Printing Rolls: BOPP film printed with customer-specific graphics, logos, product information, and branding elements. These rolls support customised packaging requirements.
- BOPP Lamination Rolls: Printed BOPP film laminated with PP woven fabric to improve packaging performance and product presentation.
- PP Woven Bags: Durable woven polypropylene bags designed for industrial and commercial packaging applications across different sectors.
- PP Woven Lamination Rolls: PP woven fabric combined with a polymer laminate to improve the functional properties of packaging materials.
- Integrated Manufacturing: The company undertakes processing activities such as extrusion, printing, coating, lamination, cutting, stitching, and finishing to manufacture packaging products suited to customer specifications.
The company’s integrated production setup allows it to offer a range of packaging solutions through connected manufacturing processes. However, maintaining production efficiency, controlling input costs, ensuring consistent quality, and retaining customers remain important to its business performance.
Industry Overview
The industrial packaging industry serves a wide range of businesses that require reliable packaging for storing, handling, transporting, and distributing products. Demand for packaging materials is influenced by manufacturing activity, agricultural production, food processing, chemical production, construction materials, and other industrial applications.
Packaging products such as PP woven bags and BOPP-based materials are used where durability, print quality, product identification, and practical handling are important. Customers may also require customised dimensions, printed designs, lamination, and other product specifications to meet their operational needs.
Manufacturers in this sector compete on product quality, pricing, production capacity, customisation, delivery timelines, and customer relationships. Raw material prices and availability can influence manufacturing costs and margins. Changes in customer demand, competition, and working capital requirements may also affect operating performance.
Antala Industries participates in this market through its range of packaging products and integrated manufacturing capabilities. Its ability to maintain quality, manage production costs, and develop relationships across multiple end-user industries will be important in determining its future growth.
Business Strategy
Antala Industries Limited aims to serve industrial and commercial customers through its diversified packaging portfolio and integrated manufacturing operations. Its business approach focuses on offering products tailored to customer specifications while managing multiple stages of production within its manufacturing facility.
The company’s key strategic priorities include:
- Expanding its ability to supply customised packaging products.
- Improving production efficiency through integrated manufacturing processes.
- Meeting customer requirements for product quality, durability, and print specifications.
- Maintaining relationships with suppliers and customers across multiple industries.
- Investing in machinery and production capabilities to support operational requirements.
- Managing working capital to support raw material procurement, manufacturing, and timely delivery.
The proposed IPO proceeds are intended to support working capital and machinery-related expenditure, along with general corporate purposes. The effectiveness of these investments will depend on demand, production utilisation, cost management, and the company’s ability to convert its operational capabilities into sustainable earnings.
Antala Industries IPO Financial Information
A company’s financial performance provides insight into its revenue growth, profitability, asset base, borrowings, and overall financial position. Reviewing results across multiple reporting periods helps investors understand business expansion and changes in financial performance.
Antala Industries Financial Summary:
The following figures are presented in ₹ crore.
| Particulars | 30 Sep 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 34.88 | 28.41 | 25.47 | 5.97 |
| Total Income | 30.20 | 47.53 | 31.98 | 12.59 |
| Profit After Tax (PAT) | 4.19 | 4.24 | 1.82 | 0.89 |
| EBITDA | 5.76 | 6.15 | 2.82 | 1.36 |
| Net Worth | 22.17 | 17.03 | 12.19 | 3.54 |
| Reserves and Surplus | 13.49 | 8.79 | 3.02 | — |
| Total Borrowings | 1.75 | 4.19 | 3.85 | 0.36 |
Note: The September 2026 figures cover the period ended September 30, 2026, while the other columns represent financial years ended March 31. A dash indicates that a figure was not provided.
Antala Industries reported total income of ₹47.53 crore and profit after tax of ₹4.24 crore in FY2026, compared with total income of ₹31.98 crore and PAT of ₹1.82 crore in FY2025. This represents an increase of approximately 49% in total income and 133% in PAT.
The company also reported higher assets and net worth over the periods shown. Total borrowings declined from ₹4.19 crore as of March 31, 2026, to ₹1.75 crore as of September 30, 2026. Investors should assess the interim-period figures alongside working capital movements, operating cash flows, customer demand, and the company’s future funding requirements.
Antala Industries IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors evaluate profitability, capital efficiency, financial leverage, and valuation. The reported figures below provide a snapshot of the company’s performance at the two specified reporting dates.
| KPI | 30 Sep 2026 | 31 Mar 2026 |
|---|---|---|
| Return on Equity (ROE) | 21.36% | 33.26% |
| Return on Capital Employed (ROCE) | 26.61% | 42.23% |
| Debt-to-Equity Ratio | 0.08 | 0.25 |
| Return on Net Worth (RoNW) | 18.88% | 24.88% |
| PAT Margin | 13.90% | 8.94% |
| EBITDA Margin | 19.12% | 12.97% |
| Net Asset Value (NAV) | — | ₹20.67 |
| Price-to-Book Ratio (P/B) | — | 3.24x |
The reported ratios indicate that the company’s PAT margin and EBITDA margin improved by September 2026 compared with March 2026, while ROE and ROCE were lower at the interim reporting date. Interim-period ratios may not be directly comparable with full-year ratios, so investors should consider the reporting period and calculation basis before drawing conclusions.
The lower reported debt-to-equity ratio in September 2026 reflects a reduction in the company’s borrowings relative to its net worth. Investors should also examine cash generation, working capital needs, and the price paid for the shares when assessing the company’s financial position.
Objects of the Antala Industries IPO
The company proposes to utilise the net proceeds from the fresh issue towards the following purposes.
| # | Issue Objects | Estimated Amount (₹ crore) |
|---|---|---|
| 1 | To meet working capital requirements | 10.68 |
| 2 | To meet capital expenditure requirements towards the purchase of machinery | 7.32 |
| 3 | General corporate purposes | — |
| Total | 18.00 |
The above allocation reflects the stated working capital and machinery expenditure figures. The final allocation for general corporate purposes and the precise net proceeds available for utilisation should be read in conjunction with the final offer document and applicable issue expenses.
Working capital funding can help the company finance raw materials, inventory, production expenses, and the timing difference between payments to suppliers and collections from customers. Machinery expenditure is intended to support manufacturing operations and production capabilities. The benefits of these investments will depend on utilisation, demand, cost control, and execution.
Antala Industries IPO Listing Performance
The listing performance section will be updated after Antala Industries Limited begins trading on the BSE SME platform. The issue price and actual listing price will determine the initial listing gain or loss.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 5 November 2026 |
| Issue Price | ₹63 to ₹67 per share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The listing price may be higher or lower than the final issue price depending on market conditions, investor demand, subscription levels, and sentiment towards SME IPOs. Investors should avoid treating potential listing gains as guaranteed returns and should also evaluate the company’s long-term business fundamentals.
Antala Industries IPO Subscription Status
The subscription figures indicate the level of investor participation during the IPO bidding period. Subscription data is generally reported separately for qualified institutional buyers, non-institutional investors, and retail individual investors.
Antala Industries IPO Subscription:
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Total Subscription | To be updated |
The final subscription figures will be available after the bidding period closes on November 2, 2026. Investors should consider category-wise demand alongside financial performance, valuation, business risks, and the company’s future prospects.
Antala Industries IPO Review
Antala Industries Limited operates in the industrial and commercial packaging sector, supplying BOPP-based packaging products and PP woven bags and rolls. Its product range serves customers across multiple end-user industries, including food processing, fertilisers, chemicals, cement, and seeds. The company’s integrated manufacturing operations offer capabilities across printing, lamination, processing, and finishing, allowing it to cater to customised packaging requirements.
The company’s financial performance shows growth in total income and profitability between FY2025 and FY2026. Total income increased from ₹31.98 crore to ₹47.53 crore, while profit after tax rose from ₹1.82 crore to ₹4.24 crore. The company also reported a higher EBITDA of ₹6.15 crore in FY2026 compared with ₹2.82 crore in FY2025. These figures indicate improved reported profitability, although investors should also examine cash flows, working capital requirements, customer concentration, and the sustainability of margins.
The proposed fresh issue is intended to fund working capital requirements, machinery purchases, and general corporate purposes. Working capital can be particularly important for manufacturing businesses because money is tied up in raw materials, finished goods, and customer receivables. Machinery investments may support operating capacity, but their benefits depend on execution, utilisation, and market demand.
The IPO also carries risks associated with raw material costs, competition, manufacturing efficiency, customer retention, and the company’s ability to manage cash flows. The company operates in a sector where pricing and delivery reliability can influence customer relationships, while changes in demand from industrial and agricultural end-users may affect order volumes.
Overall, Antala Industries IPO offers exposure to a packaging manufacturer with a diversified product portfolio and improving reported earnings. Investors should compare the final issue valuation with the company’s earnings, net worth, operating cash flows, competitive position, and risks before deciding whether the issue suits their investment objectives. The information presented here is not a guarantee of listing gains or future performance.
Antala Industries IPO Strengths
- Experienced Promoters: The company is backed by promoters with experience in the packaging industry.
- Diversified Product Portfolio: Its products include BOPP bags, printing rolls, lamination rolls, PP woven bags, and PP woven lamination rolls.
- Multiple End-User Industries: The company caters to packaging requirements across several industrial and commercial sectors.
- Integrated Manufacturing Capabilities: Its production activities include printing, extrusion, coating, lamination, stitching, and finishing.
- Customised Packaging Solutions: The company can supply packaging products according to customer specifications and functional requirements.
- Improving Reported Financial Performance: Total income and PAT increased between FY2025 and FY2026.
- Quality and Management Certifications: The company reports certifications covering quality, environmental management, food safety, and occupational health and safety.
Antala Industries IPO Risk Factors
- Raw Material Price Fluctuations: Changes in the cost or availability of packaging inputs may affect production costs and profit margins.
- Competition: The packaging industry includes competing manufacturers that may exert pressure on pricing, product quality, and delivery terms.
- Working Capital Requirements: Manufacturing operations require funds for raw materials, inventory, production, and customer credit periods.
- Customer Demand: Changes in demand from end-user industries could affect order volumes and capacity utilisation.
- Execution Risk: Machinery purchases and other operational investments may not deliver the expected benefits if implementation or utilisation falls short.
- Profitability Sustainability: Improved historical earnings do not guarantee that margins and profits will continue to grow.
- Limited Workforce: The company reported 11 employees as of September 30, 2026, making operational planning, productivity, and workforce management relevant considerations.
- SME IPO Liquidity: Shares listed on the SME platform may experience price volatility and lower trading liquidity than more widely traded stocks.
Antala Industries IPO Promoters
Antala Industries Limited is promoted by members of the Antala family, who are associated with the company’s packaging business. The promoters’ industry experience and involvement in the business are relevant factors when assessing the company’s management approach, operational capabilities, and future strategy.
Antala Industries IPO Promoters Details
| Promoter |
|---|
| Rajeshkumar Chandulal Antala |
| Lataben Rajeshbhai Antala |
| Pankajkumar Chandulal Antala |
| Hetalben Pankajkumar Antala |
| Nevil Pankajbhai Antala |
| Aaryan Rajesh Antala |
| Shaily Rajeshkumar Antala |
Antala Industries IPO Management Team
The company’s management is responsible for manufacturing operations, financial planning, customer relationships, procurement, regulatory compliance, and business development. The promoters’ experience in the packaging industry is a relevant factor in understanding the company’s operating background.
| Name | Designation |
|---|---|
| Specific management names and designations | Not provided in the supplied information |
Antala Industries IPO Registrar Details
The registrar is responsible for processing IPO applications, coordinating the basis of allotment, facilitating refunds, crediting shares to successful applicants, and handling investor queries relating to the issue.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://www.bigshareonline.com |
| IPO Allotment Status | Available through the registrar’s official IPO allotment portal |
| Contact Number | 8657578989 / 8069219065 / 8069219060 |
| Email ID | [email protected] |
Antala Industries IPO Lead Manager Details
The book running lead manager coordinates the IPO process, including issue management, regulatory compliance, documentation, and coordination with the company and other intermediaries.
| Particular | Details |
|---|---|
| Lead Manager | Vatsa Capital Venture Private Limited |
| Market Maker | Asnani Stock Broker Private Limited |
Antala Industries Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Antala Industries Limited |
| Registered Office | Shapar RS No. 84, Plot No. 1, Opp. Shreeji Tiles, Veraval (Shapar), Kotda Sanghani, Rajkot, Gujarat – 360024 |
| Website | https://antalalimited.in |
| Contact Number | 98255 17357 |
| Email ID | [email protected] |
How to Check Antala Industries IPO Allotment Status
Investors can check their Antala Industries IPO allotment status after the basis of allotment is finalised, tentatively on November 3, 2026. The status can be checked through the registrar’s official website or the BSE IPO platform, subject to the availability of the relevant issue record.
Through Bigshare Services Private Limited
- Visit the official Bigshare Services website.
- Navigate to the IPO allotment status section.
- Select Antala Industries IPO from the available issue list.
- Choose the applicable identification method, such as PAN number, application number, or demat account details.
- Enter the requested information and complete any verification.
- Submit the details to view the allotment status.
Through BSE
- Visit the official BSE website at https://www.bseindia.com.
- Navigate to the IPO allotment status facility.
- Select Antala Industries IPO, if available.
- Enter the required application or PAN details.
- Complete the verification process, if requested.
- Submit the information to check the allotment result.
Investors should use the official portals and ensure that the details entered match their IPO application. If shares are allotted, they are expected to be credited to the applicant’s demat account according to the issue timetable.
Antala Industries IPO Conclusion
Antala Industries IPO is a fresh issue by a packaging manufacturer offering products for industrial and commercial applications. The company’s diversified product portfolio, integrated manufacturing activities, and presence across multiple end-user industries provide the foundation for its business operations. Its reported increase in income and profitability between FY2025 and FY2026 is also an important factor for investors to assess.
The IPO proceeds are intended to support working capital requirements, machinery purchases, and general corporate purposes. These investments may support the company’s operational needs, although the actual benefits will depend on manufacturing efficiency, customer demand, cost management, and the utilisation of funds.
Investors should also consider raw material price movements, competition, working capital requirements, execution risks, and the potential volatility of SME-listed shares. Reviewing the issue price, earnings, financial ratios, cash flows, and business risks can help investors assess the suitability of the IPO for their investment objectives.
Antala Industries IPO FAQs
What is Antala Industries IPO?
Antala Industries IPO is a book-built SME public issue of Antala Industries Limited, comprising a fresh issue of 34,82,000 equity shares aggregating up to ₹23.33 crore.
What is the price band of Antala Industries IPO?
The price band is ₹63 to ₹67 per equity share, with a face value of ₹10 per share.
What is the issue size of Antala Industries IPO?
The total issue size is up to ₹23.33 crore, comprising a fresh issue of 34,82,000 shares. The issue does not include an Offer for Sale.
When will Antala Industries IPO open and close?
The IPO is scheduled to open on October 29, 2026, and close on November 2, 2026.
What is the lot size of Antala Industries IPO?
The lot size is 2,000 shares. The minimum retail application is 4,000 shares, requiring an investment of ₹2,68,000 at the upper price band.
What is the minimum HNI investment for Antala Industries IPO?
The minimum S-HNI application is 6,000 shares, or three lots, amounting to ₹4,02,000 at the upper price band.
When will Antala Industries IPO allotment be finalised?
The basis of allotment is tentatively scheduled for November 3, 2026.
On which stock exchange will Antala Industries be listed?
The company’s equity shares are proposed to be listed on the BSE SME platform, with a tentative listing date of November 5, 2026.
Who is the registrar for Antala Industries IPO?
Bigshare Services Private Limited is the registrar to the issue.
What does Antala Industries Limited do?
The company manufactures and supplies industrial and commercial packaging products, including BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags, and PP woven lamination rolls.
What are the objects of Antala Industries IPO?
The company intends to use the fresh issue proceeds for working capital requirements, capital expenditure towards machinery purchases, and general corporate purposes.
