Shakti Polytarp IPO is a Mainboard Book Built public issue by Shakti Polytarp Limited. The public issue comprises a fresh issue of equity shares, with no Offer for Sale component. The company’s equity shares are proposed to be listed on the BSE SME platform.
The Shakti Polytarp IPO has a price band of ₹56 to ₹59 per equity share with a face value of ₹10 per share. The total issue comprises 45,64,000 equity shares aggregating up to approximately ₹26.93 crore at the upper price band. The IPO is scheduled to open on 15 September 2026 and close on 17 September 2026.
Shakti Polytarp Limited manufactures tarpaulin sheets, shade nets, plastic laminated products, HDPE/PP woven products and other flexible packaging products. The company serves different applications through its product portfolio and operates a manufacturing facility in Madhya Pradesh.
The company has reported strong growth in revenue and profitability during the last three financial years. Revenue increased from ₹62.23 crore in FY2024 to ₹216.10 crore in FY2026, while profit after tax increased from ₹0.98 crore to ₹10.06 crore during the same period.
Investors should evaluate the company’s financial performance, valuation, debt position, business model, industry outlook, and IPO objectives before making an investment decision.
Table of Contents
Shakti Polytarp IPO Details Information
| Particulars | Details |
|---|---|
| IPO Name | Shakti Polytarp IPO |
| Company Name | Shakti Polytarp Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹56 to ₹59 Per Share |
| Issue Size | ₹26.93 Crore |
| Fresh Issue | 45,64,000 Equity Shares |
| Offer for Sale | Nil |
| IPO Open Date | 15 September 2026 |
| IPO Close Date | 17 September 2026 |
| Anchor Investor Bidding | 14 September 2026 |
| Basis of Allotment | 18 September 2026 |
| Refund Initiation | 21 September 2026 |
| Shares Credited to Demat Account | 21 September 2026 |
| Listing Date | 22 September 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 2,000 Equity Shares |
| Registrar | Skyline Financial Services Private Limited |
| Book Running Lead Manager | NEXGEN Financial Solutions Private Limited |
The issue includes a market maker reservation of 2,30,000 equity shares, while the net issue available to public investors comprises 43,34,000 equity shares. Bids can be made for a minimum of 4,000 shares and in multiples of 2,000 shares thereafter.
Shakti Polytarp IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 14 September 2026 |
| IPO Opening Date | 15 September 2026 |
| IPO Closing Date | 17 September 2026 |
| Basis of Allotment | 18 September 2026 |
| Refund Initiation | 21 September 2026 |
| Shares Credited to Demat Account | 21 September 2026 |
| Listing Date | 22 September 2026 |
After the allotment process is completed, successful applicants will receive the allotted shares in their demat accounts before the company’s shares begin trading on the BSE SME platform.
Shakti Polytarp IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category will depend on the number of valid applications received during the IPO subscription period. The market maker portion is reserved separately from the net public issue.
Shakti Polytarp IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 4,000 Shares | ₹2,36,000 |
| Retail Maximum | 2 Lots | 4,000 Shares | ₹2,36,000 |
| S-HNI Minimum | 3 Lots | 6,000 Shares | ₹3,54,000 |
| S-HNI Maximum | 8 Lots | 16,000 Shares | ₹9,44,000 |
| B-HNI Minimum | 9 Lots | 18,000 Shares | ₹10,62,000 |
The application values shown above are calculated using the upper price band of ₹59 per equity share.
About Shakti Polytarp Limited
Shakti Polytarp Limited is engaged in the manufacturing of tarpaulin and shade net products along with other plastic-based and flexible packaging products. The company’s product range includes plastic laminated tarpaulin, HDPE and PP woven fabric, wrapping fabric and other related products.
The company manufactures products designed for applications across agriculture, construction, packaging, transportation and other commercial requirements. It operates a manufacturing facility in Madhya Pradesh and serves customers through both business-to-business and business-to-consumer channels.
The company markets products under brands including SHAKTI, RIO and DINOTARP. Its manufacturing activities involve raw materials such as LDPE, HDPE and PP granules along with UV masterbatch and other inputs.
Business Operations
- Tarpaulin Manufacturing – The company manufactures plastic laminated tarpaulin products used for protection, covering, storage and other applications.
- Shade Net Products – It manufactures shade nets used in agricultural, commercial and other applications requiring controlled sunlight and protection.
- HDPE and PP Woven Products – The company manufactures woven plastic products used across different industrial and packaging applications.
- Flexible Packaging Products – Its product portfolio includes wrapping and other plastic-based products designed for commercial and industrial requirements.
- Customised Products – The company offers products according to customer requirements relating to dimensions, specifications and applications.
- Multi-Application Product Portfolio – Its products cater to agriculture, construction, packaging, transportation and other end-use segments.
Industry Overview
India’s plastic products and flexible packaging industry is supported by demand from agriculture, construction, transportation, industrial packaging and consumer applications. Tarpaulin, woven fabric and related products are used for protection, covering, storage and packaging across several sectors.
The demand for durable and lightweight plastic-based products is influenced by infrastructure development, agricultural activity, logistics requirements and the growth of organised packaging solutions. Increasing applications across different end-user industries can provide opportunities for manufacturers with adequate production capacity and diversified product portfolios.
At the same time, the industry remains exposed to raw material price movements, competition, environmental regulations and changes in demand across end-user markets.
Business Strategy
Shakti Polytarp Limited focuses on expanding its manufacturing capabilities, strengthening its product portfolio and improving production capacity to address growing demand across its target markets.
The company plans to use the IPO proceeds primarily for capital expenditure and general corporate purposes. The proposed investments are intended to support capacity expansion and strengthen the company’s ability to serve customers across different applications.
The company also aims to maintain product quality, develop customised products, improve operational efficiency and strengthen its presence across existing and potential customer segments.
Shakti Polytarp IPO Financial Information
A company’s financial performance provides valuable insights into revenue growth, profitability, operational efficiency, and financial stability. Reviewing financial statements over multiple years helps investors understand the company’s growth trajectory and its ability to generate earnings from operations.
Shakti Polytarp Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹62.23 Crore | ₹166.50 Crore | ₹216.10 Crore |
| EBITDA | ₹3.83 Crore | ₹10.69 Crore | ₹19.29 Crore |
| Profit After Tax (PAT) | ₹0.98 Crore | ₹4.97 Crore | ₹10.06 Crore |
| Net Worth | ₹10.84 Crore | ₹17.80 Crore | ₹27.86 Crore |
| Total Assets | ₹40.29 Crore | ₹71.39 Crore | ₹110.12 Crore |
| Reserves & Surplus | ₹5.13 Crore | ₹5.24 Crore | ₹15.30 Crore |
| Total Borrowings | ₹23.36 Crore | ₹48.00 Crore | ₹72.51 Crore |
The company has reported substantial growth in revenue and profitability over the three-year period. Revenue increased from ₹62.23 crore in FY2024 to ₹216.10 crore in FY2026, while PAT increased from ₹0.98 crore to ₹10.06 crore. Borrowings also increased during the period, which investors should consider while evaluating the company’s financial position.
Shakti Polytarp IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess the company’s profitability, operational efficiency, financial strength, and capital utilisation. These financial ratios provide additional insights into the company’s overall business performance.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 44.04% |
| Return on Capital Employed (ROCE) | 17.87% |
| Return on Net Worth (RONW) | 44.04% |
| EBITDA Margin | 8.94% |
| PAT Margin | 4.66% |
| Debt-to-Equity Ratio | 2.60 |
| Earnings Per Share (EPS) | ₹8.00 |
| Net Asset Value (NAV) Per Share | ₹22.18 |
| Price to Earnings (P/E) | 10.05x |
The company’s return ratios indicate strong profitability relative to its net worth, while the debt-to-equity ratio of 2.60 reflects a comparatively leveraged capital structure. The reported FY2026 EPS is ₹8.00, while the post-issue EPS and P/E are reported at ₹5.87 and 10.05x respectively.
Objects of the Shakti Polytarp IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Capital Expenditure – Funding planned capital expenditure to strengthen and expand the company’s manufacturing capabilities.
- General Corporate Purposes – Meeting general corporate requirements and supporting the company’s ongoing business activities.
The offer document-based summaries indicate capital expenditure of approximately ₹20.88 crore as the principal identified object of the issue.
Shakti Polytarp IPO Listing Performance
The listing performance reflects how the company’s shares perform after the IPO. Since the Shakti Polytarp IPO is scheduled to list on 22 September 2026, actual listing price and listing gains are not available yet.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 22 September 2026 |
| Issue Price | ₹59 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The listing performance will be available after the company’s shares commence trading on the BSE SME platform. Investors should focus on the company’s financial performance, business prospects and valuation rather than relying only on short-term listing expectations.
Shakti Polytarp IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. Since the Shakti Polytarp IPO is scheduled to open on 15 September 2026, category-wise subscription figures are not available yet.
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | To be updated |
| Total Subscription | To be updated |
The final subscription figures will be available after the IPO opens and closes. They will provide an indication of investor participation across various categories.
Shakti Polytarp IPO Review
Shakti Polytarp Limited operates in the plastic-based products and flexible packaging segment, with tarpaulin, shade nets and woven plastic products forming important parts of its product portfolio. Its products serve applications across agriculture, construction, packaging, transportation and other commercial areas.
The company has demonstrated strong financial growth during FY2024 to FY2026. Revenue increased significantly from ₹62.23 crore to ₹216.10 crore, while PAT increased from ₹0.98 crore to ₹10.06 crore. EBITDA also increased from ₹3.83 crore to ₹19.29 crore during the same period.
The company’s profitability ratios are another positive factor, with FY2026 ROE and RoNW reported at 44.04%. However, the debt-to-equity ratio of 2.60 and total borrowings of ₹72.51 crore indicate that investors should carefully assess the company’s leverage and financing requirements.
The IPO proceeds are primarily intended for capital expenditure and general corporate purposes. Expansion of manufacturing capabilities could support future growth if the company successfully utilises the additional capacity and maintains demand across its target markets.
The Shakti Polytarp IPO is an SME issue and therefore investors should also consider the risks associated with SME-listed companies, including potentially lower liquidity and higher share-price volatility after listing.
The current grey market premium is reported at ₹0, but GMP is an unofficial market indicator and is not a guarantee of the listing price or future returns.
Overall, Shakti Polytarp has shown strong revenue and profit growth, a diversified product portfolio and healthy reported return ratios. Investors should nevertheless evaluate its valuation, leverage, working capital requirements, competitive environment and execution capabilities before making an investment decision.
Shakti Polytarp IPO Strengths
- Strong Revenue and Profit Growth – Revenue and PAT have increased substantially over the last three financial years, indicating strong business growth.
- Diversified Product Portfolio – The company offers tarpaulins, shade nets, woven fabrics, wrapping products and other plastic-based products.
- Integrated Manufacturing Capabilities – Its manufacturing setup supports production, quality control and product customisation.
- Multiple End-Use Applications – Products serve agriculture, construction, packaging, transportation and other commercial requirements.
- Strong Return Ratios – FY2026 ROE and RoNW were reported at 44.04%, reflecting strong returns relative to net worth.
- Capacity Expansion Opportunity – IPO proceeds allocated toward capital expenditure can support future manufacturing and business expansion.
Shakti Polytarp IPO Risk Factors
- High Debt Levels – Total borrowings increased to ₹72.51 crore in FY2026, while the debt-to-equity ratio stood at 2.60.
- Raw Material Price Volatility – Changes in prices of LDPE, HDPE, PP granules and other raw materials may affect margins.
- Competitive Industry – The company operates in a competitive plastic products and packaging market with several domestic manufacturers.
- Working Capital Requirements – Manufacturing and sales operations require adequate working capital to support inventory and receivables.
- Customer Concentration Risk – Dependence on major customers or specific end-use industries may affect revenue if demand changes.
- Environmental Regulations – Changes in plastic-related environmental regulations and sustainability requirements may affect the industry.
- SME Listing Risk – Shares listed on the SME platform may experience lower liquidity and higher price volatility compared with larger listed companies.
Shakti Polytarp IPO Promoters
Shakti Polytarp Limited is promoted by Ravi Singhal, Vivek Singhal and Trisha Singhal. The promoters are involved in the company’s management and business operations and have contributed to the development of its manufacturing activities and product portfolio.
Shakti Polytarp IPO Promoters Details
| Promoter | Designation |
|---|---|
| Ravi Singhal | Managing Director |
| Vivek Singhal | Director |
| Trisha Singhal | Director |
Shakti Polytarp IPO Management Team
The company is led by an experienced management team involved in manufacturing operations, business development, financial management and strategic decision-making. The leadership team is responsible for managing production activities, customer relationships, expansion plans and overall business operations.
| Name | Designation |
|---|---|
| Ravi Singhal | Managing Director |
| Vivek Singhal | Director |
| Trisha Singhal | Director |
Shakti Polytarp IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds, and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | Skyline Financial Services Private Limited |
| Website | Skyline Financial Services |
| IPO Allotment Status | Skyline IPO Allotment Status |
| Email ID | [email protected] |
| Contact Number | 011-26812682 / 011-40450193-97 |
The registrar’s official contact information lists Skyline Financial Services Private Limited at D-153A, First Floor, Okhla Industrial Area, Phase-I, New Delhi, with IPO-related investor services available through its website.
Shakti Polytarp IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory requirements and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Manager | NEXGEN Financial Solutions Private Limited |
Shakti Polytarp Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Shakti Polytarp Limited |
| Registered Office | Shop No. 4, 4/1 Nayapura Main Road, Indore, Madhya Pradesh – 452009 |
| Website | Shakti Polytarp Limited |
| Email ID | [email protected] |
| Contact Number | +91-9826648050 |
The company’s official website provides its contact number, email address and Indore, Madhya Pradesh location.
How to Check Shakti Polytarp IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the BSE IPO portal.
Through Skyline Financial Services Private Limited
- Visit the official Skyline Financial Services IPO allotment portal.
- Select Shakti Polytarp IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Shakti Polytarp IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
Shakti Polytarp IPO Conclusion
Shakti Polytarp IPO provides investors with an opportunity to participate in an SME company operating in the tarpaulin, shade net, woven fabric and flexible packaging product segments. The company has demonstrated strong growth in revenue, EBITDA and profit during FY2024 to FY2026.
Its diversified product portfolio, manufacturing capabilities, multiple end-use applications and strong reported return ratios provide positive business factors. The proposed capital expenditure from the IPO proceeds could further support manufacturing capacity and business expansion.
However, investors should also consider the company’s relatively high debt-to-equity ratio, rising borrowings, raw material price volatility, competitive environment, working capital requirements and SME-market risks before investing.
A detailed assessment of the company’s financial performance, IPO valuation, debt position, industry outlook, business strategy and future expansion plans can help investors determine whether the Shakti Polytarp IPO is suitable for their investment objectives.
Shakti Polytarp IPO FAQs
What is Shakti Polytarp IPO?
Shakti Polytarp IPO is the upcoming SME public issue of Shakti Polytarp Limited. The issue comprises a fresh issue of equity shares and is proposed to be listed on the BSE SME platform.
What is the price band of Shakti Polytarp IPO?
The Shakti Polytarp IPO price band is ₹56 to ₹59 per equity share.
What is the issue size of Shakti Polytarp IPO?
The total issue size is approximately ₹26.93 crore, comprising 45,64,000 equity shares.
When will the Shakti Polytarp IPO open?
The IPO will open for subscription on 15 September 2026.
When will the Shakti Polytarp IPO close?
The IPO will close for subscription on 17 September 2026.
What is the Shakti Polytarp IPO lot size?
The lot size is 2,000 equity shares. Retail investors need to apply for a minimum of 2 lots, or 4,000 shares.
What is the minimum investment required for Shakti Polytarp IPO?
The minimum retail application requires 4,000 shares at the upper price band of ₹59, requiring an investment of ₹2,36,000.
On which stock exchange will Shakti Polytarp shares be listed?
Shakti Polytarp shares are proposed to be listed on the BSE SME platform.
Who is the registrar for the Shakti Polytarp IPO?
Skyline Financial Services Private Limited is the registrar to the Shakti Polytarp IPO.
What is the GMP of Shakti Polytarp IPO?
The current reported GMP is ₹0. GMP is an unofficial grey-market indicator and can change before listing. It should not be treated as a guaranteed listing price or return.
