Antala Industries IPO 2026: SME Opening Dates, Price Band & Details
· 7 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
Antala Industries opens its BSE SME IPO on 29 Oct 2026 with a price band of ₹63 to ₹67 per share. Here are the key facts, financial figures, and DRHP disclosures.
Direct answer: The Antala Industries SME IPO opens for subscription on 29 Oct 2026 and closes on 02 Nov 2026 on the BSE SME platform. The issue features a price band of ₹63 to ₹67 per share with a minimum lot size of 2,000 shares, requiring a minimum retail application of ₹1,34,000 at the upper band.
Source: DRHP filed with BSE.
Antala Industries SME IPO: Key Offer Terms & Timeline
Antala Industries Limited has filed its offer document for an initial public offer on the BSE SME platform. The issue opens for subscription on 29 Oct 2026 and closes on 02 Nov 2026. The total issue size is ₹23.33 Cr, comprising 33,06,000 equity shares, with a fresh issue component of ₹22.15 Cr.
The price band is fixed at ₹63 to ₹67 per equity share with a face value of ₹10 per share. Retail investors can apply for a minimum lot size of 2,000 shares, corresponding to an application amount of ₹1,34,000 at the upper price band. Based on the schedule outlined in the DRHP filed with BSE, share allotment is expected to be finalized on 03 Nov 2026, with refunds and demat credit scheduled for 04 Nov 2026, followed by listing on the BSE SME exchange on 05 Nov 2026. You can track upcoming issue schedules on the IPO calendar.
Vatsa Capital Venture Pvt. Ltd. is acting as the sole lead manager for the issue, and Bigshare Services Pvt. Ltd. is the designated registrar. The issue reservation is structured with not more than 50% allocated to Qualified Institutional Buyers (QIB), not less than 15% to Non-Institutional Investors (NII), not less than 35% to Retail investors, and 1,76,000 equity shares allocated to Market Makers.
Business Overview: Operations & Packaging Portfolio
Antala Industries Limited was converted into a public limited company on 05 Aug 2024, originating from its predecessor partnership firm, M/s Octagon Industries, which was formed on 30 Apr 2021. The company operates in the packaging sector, focusing on the production, processing, printing, lamination, and supply of industrial and commercial packaging materials.
| Item | Value | As of |
|---|---|---|
| Price band | ₹63 – ₹67 | 24 Oct 2026 |
| Lot size | 2000 shares | 24 Oct 2026 |
| Minimum application | ₹1,34,000 | 24 Oct 2026 |
| Issue size | ₹23.33 Cr | 24 Oct 2026 |
| Fresh issue | ₹22.1 Cr | 24 Oct 2026 |
| Exchange | BSE SME | 24 Oct 2026 |
| Issue type | SME | 24 Oct 2026 |
| Face value | ₹10 | 24 Oct 2026 |
| Opens | 29 Oct 2026 | 24 Oct 2026 |
| Closes | 2 Nov 2026 | 24 Oct 2026 |
| Allotment | 3 Nov 2026 | 24 Oct 2026 |
| Listing | 5 Nov 2026 | 24 Oct 2026 |
| Registrar | Bigshare Services Pvt.Ltd. | 24 Oct 2026 |
The company's core product portfolio includes BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags, and PP woven lamination rolls. These products serve end-user industries such as food processing, fertilizers, chemicals, cement, seeds, FMCG, and textiles.
Antala Industries operates an integrated manufacturing facility located in Rajkot, Gujarat. The facility houses infrastructure for extrusion, coating and lamination, rotogravure printing, roll-to-roll multi-colour printing, stitching, and finishing. As of 21 Jul 2026, the company employed 11 personnel across administrative, production, sales, management, secretarial, and finance functions. It maintains operational quality certifications including ISO 9001:2015, ISO 14001:2015, ISO 22000:2018, and ISO 45001:2018. For further information, visit Antala Industries on BuyUnlistedShares or review companies on the Unlisted shares screener.
Financial Summary & Key Performance Indicators
The company's restated financial data as disclosed in the DRHP filed with BSE outlines performance trends across FY24, FY25, and FY26.
The chart shows total income expanding from ₹12.59 Cr in FY24 to ₹31.98 Cr in FY25 and reaching ₹47.53 Cr in FY26, alongside profit after tax rising from ₹0.89 Cr to ₹4.24 Cr over the same period.
For the full financial year ended 31 Mar 2026, Antala Industries reported total revenue of ₹47.53 Cr compared to ₹31.98 Cr in FY25 and ₹12.59 Cr in FY24. Operating profit (EBITDA) reached ₹6.15 Cr in FY26, up from ₹2.82 Cr in FY25 and ₹1.36 Cr in FY24. Profit after tax (PAT) stood at ₹4.24 Cr in FY26, relative to ₹1.82 Cr in FY25 and ₹0.89 Cr in FY24. Net worth grew to ₹17.03 Cr as of 31 Mar 2026 from ₹12.19 Cr as of 31 Mar 2025.
Key operational performance indicators as of 31 Mar 2026 include a Return on Net Worth (RoNW) of 24.88%, Return on Capital Employed (ROCE) of 42.23%, PAT margin of 8.91%, EBITDA margin of 12.97%, and a Debt to Equity ratio of 0.25x.
Valuation metrics computed as of 24 Oct 2026 based on upper band price of ₹67 are as follows:
- Pre-issue P/E Ratio: 13.7x (using upper band ₹67 divided by pre-issue EPS ₹4.88 as of 31 Mar 2026).
- Post-issue P/E Ratio: 19.3x (using upper band ₹67 divided by post-issue EPS ₹3.48 as of 31 Mar 2026).
- Price-to-Book (P/B) Ratio: 3.24x (using upper band ₹67 divided by NAV per share ₹20.67 per the DRHP).
Investors tracking primary market issues can compare these metrics with other corporate offerings such as the Wiscon Industries IPO 2026: Dates, Price Band, Lot Size & Key RHP Facts and mainboard announcements like the Jio Platforms IPO Open 2026: Dates, Price Band, Lot Size & Details.
Objects of the Offer & Capital Expenditure
The company plans to deploy the proceeds raised from the fresh issue component after meeting issue expenses. Per the DRHP filed with BSE, ₹18 Cr of the planned proceeds is itemised into specific functional uses:
| No. | Objects of the Issue | Amount (₹ Cr) |
|---|---|---|
| 1 | Working capital requirements | 10.68 |
| 2 | Capital expenditure towards purchase of machinery | 7.32 |
| 3 | General corporate purposes | Unstated portion |
Listed Industry Peers & DRHP Risk Disclosures
The DRHP filed with BSE lists two standalone comparable peers in the packaging domain as of 31 Mar 2026:
| Company Name | EPS (₹) | NAV (₹) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|
| Knack Packaging Ltd | 8.94 | 30.48 | 24.62 | 34.41% | 6.83 |
| Dhaval Packaging Ltd | 8.08 | 30.78 | 18.50 | 31.58% | 3.60 |
The offer document outlines several risk factors associated with the company's business model and operating structure:
- Customer concentration: A substantial portion of total revenue is generated from the top 10 customers, exposing operations to volume cuts or order cancellations.
- Operational energy intensity: Manufacturing processes including extrusion, weaving, printing, and lamination are energy-intensive, requiring consistent electricity and fuel supply.
- Equipment dependency: Operations rely heavily on capital-intensive, specialized machinery and infrastructure.
- Supplier concentration: Raw material procurement is substantially concentrated in specific states, primarily Gujarat, Madhya Pradesh, Maharashtra, and Dadra & Nagar Haveli.
- Negative cash flows: The restated financial statements report negative cash flows from operating activities in prior periods, specifically FY25 and FY23.
- Single manufacturing location: All production assets are located at one integrated facility in Rajkot, Gujarat, exposing business operations to regional operational or infrastructural disruptions.
Frequently Asked Questions
What are the open and close dates for the Antala Industries IPO?
The IPO opens for public subscription on 29 Oct 2026 and closes on 02 Nov 2026.
What is the price band and minimum investment required?
The price band is ₹63 to ₹67 per share. The minimum lot size is 2,000 shares, which equates to a minimum application amount of ₹1,34,000 at the upper band of ₹67.
Where will Antala Industries shares be listed?
The equity shares of Antala Industries Limited are scheduled to list on the BSE SME platform with a target listing date of 05 Nov 2026.
Who is the registrar and lead manager for the issue?
The registrar to the issue is Bigshare Services Pvt. Ltd., and the sole lead manager is Vatsa Capital Venture Pvt. Ltd.
What is the break-up of the total issue size?
The overall issue size is ₹23.33 Cr comprising 33,06,000 equity shares, which includes a fresh issue portion of ₹22.15 Cr.
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Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
