Shakti Polytarp IPO: dates, price band, lot size and GMP
Shakti Polytarp IPO listed on 22 Sep at ₹58.9 (BSE SME). Issue dates 15 – 17 Sep 2026, price band ₹56 – ₹59, lot 2,000 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Shakti Polytarp listed on 22 Sep 2026 on BSE SME at ₹58.90, −₹0.10 (−0.2%) against the ₹59 upper band. Shakti Polytarp IPO listing date, price and gain · Recently listed IPOs
Updated 30 Oct 2026, 09:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 222 IPOs on its calendar; the Shakti Polytarp IPO has a price band of ₹56 – ₹59, a lot of 2,000 shares and no grey-market premium reported yet as of 30 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 15 – 17 Sep 2026 |
| Price band | ₹56 – ₹59 |
| Lot size | 2,000 shares |
| Issue size | ₹26.93 Cr |
| Fresh issue | ₹25.57 Cr |
| Subscription | 11.87x |
| Registrar | Skyline Financial Services Pvt.Ltd. |
| Lead managers | NEXGEN Financial Solutions Pvt.Ltd. |
| Status | Listed |
Timeline
- Issue opens: 15 Sep
- Issue closes: 17 Sep
- Allotment: 18 Sep
- Refunds: 21 Sep
- Demat credit: 21 Sep
- Listing: 22 Sep
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 49.22x |
| NII | 5.43x |
| sNII | 4.05x |
| bNII | 6.11x |
| Retail | 4.12x |
| Total | 11.87x |
Last updated 17 Sep 2026, 6:32 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹101.06 Cr |
| P/E (pre-issue) | 7.38x |
| P/E (post-issue) | 10.05x |
| Fresh issue (shares) | 43,34,000 |
| Total shares offered | 43,34,000 |
| Promoter holding pre-issue | 88.51% |
| Promoter holding post-issue | 64.92% |
| Promoters | Ravi Singhal, Vivek Singhal, Trisha Singhal, Priyal Singhal |
| Lead managers | NEXGEN Financial Solutions Pvt.Ltd. |
| Registrar phone | 011-26812682 |
| Registrar email | ipo@skylinerta.com |
| Company website | shaktipolytarp.com |
| Anchor bid date | 11 Sep 2026 |
| Anchor lock-in ends (50%) | 18 Oct 2026 |
| Anchor lock-in ends (remaining) | 17 Dec 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 4,000 | ₹2,36,000 |
| Retail (maximum) | 2 | 4,000 | ₹2,36,000 |
| sNII (minimum) | 3 | 6,000 | ₹2,36,000 |
| bNII (minimum) | 3 | 6,000 | ₹10,62,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 19% | 8,22,000 | |
| QIB | 13% | 5,64,000 | Not more than 50.00% of the Net offer |
| NII (HNI) | 31.6% | 13,68,000 | Not less than 15.00% of the Net Offer |
| sNII | 10.5% | 4,56,000 | |
| bNII | 21% | 9,12,000 | |
| Retail | 36.5% | 15,80,000 | Not less than 35.00% of the Net Offer |
| Market Maker | 5.3% | 2,30,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 15 Sep | 0.00x | 1.52x | 0.30x | 2.15x | 0.11x | 0.64x |
| Day 2 · 16 Sep | 0.00x | 1.56x | 0.49x | 2.11x | 0.26x | 0.72x |
| Day 3 · 17 Sep | 49.22x | 5.43x | 4.05x | 6.11x | 4.12x | 11.87x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹8 |
|---|---|
| EPS (post-issue) | ₹5.87 |
| P/E (pre-issue) | 7.38x |
| P/E (post-issue) | 10.05x |
| RoNW | 44.04% |
| RoCE | 17.87% |
| RoE | 44.04% |
| PAT margin | 4.66% |
| EBITDA margin | 8.94% |
| Price / book | 2.66x |
| NAV per share | ₹22.18 |
| Debt / equity | 2.6 |
| Market cap (upper band) | ₹101.06 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 110.12 | 71.39 | 40.29 | +54.3% |
| Total Income | 216.1 | 166.5 | 62.23 | +29.8% |
| Profit After Tax | 10.06 | 4.97 | 0.98 | +102.4% |
| EBITDA | 19.29 | 10.69 | 3.83 | +80.4% |
| NET Worth | 27.86 | 17.8 | 10.84 | +56.5% |
| Reserves and Surplus | 15.3 | 5.24 | 5.13 | +192% |
| Total Borrowing | 72.51 | 48 | 23.36 | +51.1% |
About Shakti Polytarp
Incorporated in March 2018, Shakti Polytarp Limited manufactures tarpaulin and Shade Net.
The company's products are used in agriculture, construction, automotive, transportation, logistics, and consumer goods.
The company offers comprehensive services, helping clients choose the appropriate tarpaulin and providing design and customization options for their applications.
The company's manufacturing unit spans 18,432 sq. meters and is located in Khargone, Madhya Pradesh.
The company engages in B2B sales of granules used to produce tarpaulin through melting, extrusion, weaving, and lamination.
The company operates on a B2B (Business-to-Business) model, supplying tarpaulin and other products to various industries and in the B2C (Business-to-Consumer) segment, offering its products directly to consumers.
As of January 31, 2025, the company had a total of 76 employees on its payroll.
Objects of the issue
- Capital Expenditure — ₹20.88 Cr
- General Corporate Purposes — ₹2.54 Cr
- Issue Expenses — ₹3.5 Cr
Net proceeds: ₹26.93 Cr
Peer comparison
| Company | EPS (Basic) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|
| Shakti Polytarp Ltd. (issuer) | 8 | 22.18 | — | 44.04% | — | Restated |
| Commercial Syn Bags Ltd | 6.75 | 43.03 | 43.93x | 16.86% | 6.88 | Standalone |
| Shree Tirupati Balajee Agro Trading Company Ltd | 1.08 | 31.61 | 24.26x | 3.49% | 0.84 | Standalone |
Notes: Considering the nature and turnover of business of the Company, the peers are not strictly comparable. However, the same have been included for broader comparison. The figures for Shakti polytarp Limited are based on the restated results for the year ended March 31, 2026 The figures for the peer group are based on standalone results for the year ended March 31, 2026 Current Market Price (CMP) is the closing price of respective scrip as on August 31, 2026.
Strengths (per the offer document)
- Diverse Usage of products — We manufacture a wide range of tarpaulin such as Geotextile, Lumber Wrap, House Wraps, Pond Linners, Green Net etc.
- In-house manufacturing facility — We presently carry all our manufacturing operations at our manufacturing facility located in Plot No.
- Experienced and Qualified management team — Our management team is well qualified and plays a pivotal role in the growth of our business and operations.
- Established client relationship — We have established client relationships in domestic markets from whom we get orders on a regular basis.
Risk factors (as disclosed by the company)
- Our major revenue is sourced from manufacturing of Tarpulin — Our company is engaged in the manufacturing of tarpaulins and related products.
- We will avail capital subsidy under the Madhya Pradesh MSME Promotion Scheme, 2025 in respect of investments made in plant and machinery — Audit Committee. However, there can be no assurance that such subsidy will be received in a timely manner or at all.
- We are dependent on a limited number of customers for a significant portion of our revenues — business, financial condition, results of operations and prospects.
- We had negative cash flows in the past and may continue to have negative cash flows in the future — Our Company has experienced negative cash flows from operating activities in the past, primarily due to increased working capital requirements.
- Our Top 10 Suppliers contribute a significant portion of our raw material. Any dispute with one or more of them may adversely affect our business operations — Our company procures raw materials from various suppliers.
- We require certain approvals and licenses in the ordinary course of business and the failure to successfully obtain/renew such registrations would adversely… — We are governed by various laws and regulations for our business and operations.
- Extensive government regulation and the impact of plastics on the environment could have a severe impact on our ability to continue our business operations — We are engaged in the business of Manufacturing of Tarpaulin and other products including Shade net.
- Majority of our revenues from operations are derived from the State of Madhya Pradesh — Our company operates its business operations from its registered office and manufacturing facility.
From the RHP (strengths page 185, risk factors pages 25–34). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Shakti Polytarp IPO listing day: listed at ₹58.90 (−0.2% vs the upper band), 22 Sep 2026
- Shakti Polytarp IPO GMP today and trend
- Shakti Polytarp IPO subscription status, day by day
- Shakti Polytarp IPO allotment status and how to check
Frequently asked questions
When does the Shakti Polytarp IPO open and close?
The issue is scheduled for 15 – 17 Sep 2026.
What is the Shakti Polytarp IPO price band?
The price band is ₹56 – ₹59 per share with a lot size of 2,000 shares.
How big is the Shakti Polytarp IPO?
The total issue size is ₹26.93 Cr.
When will Shakti Polytarp list?
The tentative listing date is 22 Sep on the SME platform.
How do I apply for the Shakti Polytarp IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Shakti Polytarp · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Shakti Polytarp · as filed · bseindia.com
- Registrar allotment page, Skyline Financial Services Pvt.Ltd. · allotment 18 Sep · skylinerta.com
- BSE SME issues page · listing 22 Sep · bsesme.com
- Shakti Polytarp company website · shaktipolytarp.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 22 Sep, 04:07 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Shakti Polytarp IPO”, https://buyunlistedshares.com/ipo/shakti-polytarp-ipo, as of 30 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. Data as of 30 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
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- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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