Shakti Polytarp IPO- Company Analysis
Shakti Polytarp IPO under the SME IPO category is a book build issue of Rs. 26.93 Cr by Shakti Polytarp Limited, which is in the production of tarpaulins and other items made of plastic, such as shade nets. Tarpaulins are sturdy, water-resistant coverings that shield products, machinery, and other items from sunshine, rain, moisture, and other environmental factors.
Polypropylene (PP) granules, Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE), and High-Density Polyethylene (HDPE) are used by the company to make tarpaulins. With an emphasis on producing six-layer and eight-layer robust tarpaulins, its products are offered in a variety of sizes, colors, thicknesses, and specifications to meet customer demands.
The "Dinotarp" brand is used to market the products, which are used in consumer goods, construction, automotive, transportation, logistics, and agriculture. In addition to serving the B2C market, the company mainly uses a business-to-business (B2B) business model, delivering goods to companies and industrial clients in bulk.
Shakti Polytarp IPO Details
The Shakti Polytarp IPO date of opening is 15 Sep 2026; its initial public offering will end on 17 Sep, IPO allotment on Sep 18 and refund initiation on Sep 21, 2026.
The Rs. 26.93 crore new SME IPO comprises a wholly fresh issue of 0.45 Cr shares.
The Shakti Polytarp IPO listing date (expected) might be Tuesday, Sep 22, 2026, and the listing on the BSE and SME.
The Shakti Polytarp IPO price band is Rs. 56 to Rs. 59.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Sep 15, 2026 |
|
IPO Closing Date |
Sep 17, 2026 |
|
IPO Allotment Date |
Sep 18, 2026 |
|
Refund Initiation |
Sep 21, 2026 |
|
IPO Listing Date |
Sep 22, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
110.12 |
71.39 |
40.29 |
|
Total Income |
216.10 |
166.50 |
62.23 |
|
Profit After Tax |
10.06 |
4.97 |
0.98 |
|
EBITDA |
19.29 |
10.69 |
3.83 |
|
Net Worth |
27.86 |
17.80 |
10.84 |
|
Reserves and Surplus |
15.30 |
5.24 |
5.13 |
|
Total Borrowing |
72.51 |
48.00 |
23.36 |
Cash Flows
(Amount in Lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
1,339.56 |
(1,078.51) |
(205.12) |
|
Net Cash Flow Investing Activities |
(3,685.08) |
(939.47) |
(524.90) |
|
Net Cash Flow Financing Activities |
2,016.58 |
2,345.17 |
748.70 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The Company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Capital Expenditure. ~ Rs. 20.88 Cr.
-
General Corporate Purposes.
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
44.04% |
|
ROCE |
17.87% |
|
Debt/Equity |
2.60 |
|
RoNW |
44.04% |
|
PAT Margin |
4.66% |
|
EBITDA Margin |
8.94% |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 8 from the last year, the resulting P/E ratio is 7.37x.
|
Valuation Metric |
Pre IPO |
Post IPO |
|
EPS (₹) |
8 |
5.87 |
|
P/E (x) |
7.38 |
10.05 |
Explore the Quanto Agroworld IPO.
IPO's Strengths
-
Established client relationships.
-
Product customisation capabilities.
-
Experienced and qualified management team.
-
Diverse applications across multiple industries.
IPO's Weaknesses
-
High dependence on crude oil and polymer price cycles leads to cost volatility and margin compression.
-
Fragmented industry structure with dominance of unorganized players results in pricing pressure and limited brand premium.
-
Limited penetration of advanced automation in weaving and lamination among mid-tier players; reliance on semi-skilled labor constrains productivity and scale.
Shakti Polytarp IPO GMP (Grey Market Premium)
Shakti Polytarp IPO GMP today is Rs, 0 as of 11 September 2026, while writing this information.
Shakti Polytarp IPO Summary
|
IPO Opening & Closing Date |
15 Sep, 2026 to 17 Sep, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 56 to Rs. 59 per Share. |
|
Lot Size |
2000 Shares |
|
Issue Size |
45,64,000 Shares (Rs. 27 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
43,34,000 Shares (Rs. 26 Cr) |
|
Market Makers |
2,30,000 Shares (Rs. 1 Cr) |
|
Issue Type |
Bookbuild Issue |
|
Registrar |
Skyline Financial Services Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,36,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (6000 Shares) for Rs. 3,54,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Shakti Polytarp IPO Allotment Status
To check the Shakti Polytarp IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Shakti Polytarp Ltd.
-
Ravi Singhal
-
Vivek Singhal
-
Trisha Singhal
-
Priyal Singhal
|
Pre-Issue Promoter Shareholding |
90.9% |
|
Post-Issue Promoter Shareholding |
66.67% |
IPO Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
Dividend Policy
The company has not paid a dividend in any year.
Conclusion
Shakti Polytarp Limited’s SME IPO (₹26.93 Cr) opens on 15 September 2026 at a price band of ₹56–59, offering investors exposure to a growing tarpaulin and shade-net manufacturer. The company has delivered strong revenue and profit growth over the last three years, though high debt and raw-material price volatility remain key risks. With funds mainly earmarked for capital expenditure, the issue aims to expand manufacturing capacity and support future scale-up in the industrial packaging segment.
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