SHAKTI POLYTRAP IPO
SHAKTI POLYTRAP is a SME IPO with a current status of UPCOMING. The price band is 56 - 59. The issue opens on 15 SEP and closes on 17 SEP. The listing date is 22 SEP.
Price Band
56 - 59
Unofficial GMP
₹0
Lot Size
2,000 shares
Minimum Investment
₹2,36,000
SHAKTI POLYTRAP IPO GMP
The latest available GMP is ₹0. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹59.00
Estimated Gain
0.0%
SHAKTI POLYTRAP IPO GMP History
0
11 SEP
0
12 SEP
0
13 SEP
0
14 SEP
SHAKTI POLYTRAP IPO Details
- IPO Type
- SME
- Status
- UPCOMING
- Price Band
- 56 - 59
- Issue Size
- 26.93 CR
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹25.57 Cr
- Face Value
- 10
- Lot Size
- 2,000
- Minimum Investment
- 2,36,000
- Exchange
- BSE SME
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead Managers
- NEXGEN Financial Solutions Pvt.Ltd.
- Market Maker
- ₹1.36 Cr / 2,30,000 share
SHAKTI POLYTRAP IPO Dates
- Open Date
- 15 SEP
- Close Date
- 17 SEP
- Allotment Date
- 18 SEP
- Refund Date
- 21 SEP
- Demat Credit Date
- 21 SEP
- Listing Date
- 22 SEP
SHAKTI POLYTRAP IPO Financials
Revenue
FY2026
₹215.65 Cr
+29.73% vs FY2025
PAT
FY2026
₹10.06 Cr
+102.41% vs FY2025
Total Assets
FY2026
₹110.12 Cr
+54.25% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 62.01 | 166.23 | 215.65 |
| Net Profit | 0.98 | 4.97 | 10.06 |
| Total Assets | 40.29 | 71.39 | 110.12 |
SHAKTI POLYTRAP IPO Valuation
- Market Cap (Post IPO)
- ₹101.06 Cr
- EPS
- 8.00
- P/E Ratio
- 7.38x
- Price to Book Value
- 2.66
- Industry P/E
- 34.10x
- ROE
- 44.04%
- ROCE
- 17.87%
- RONW
- 44.04%
- Debt / Equity
- 2.60%
- PAT Margin
- 4.66%
- EBITDA Margin
- 8.94%
- Valuation
- ATTRACTIVE
SHAKTI POLYTRAP Peer Comparison
| Peer | Revenue | PAT | EPS | P/E | ROE | RONW | Debt / Equity |
|---|---|---|---|---|---|---|---|
| Commercial Syn Bags Ltd | 383.93 cr | 26.96 cr | 6.75 | 43.93x | -- | 16.86% | -- |
| Shree Tirupati Balajee Agro Trading Co. Ltd | 358.65 cr | 8.84% | 1.08 | 24.26x | -- | 3.49% | -- |
SHAKTI POLYTRAP IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 2 | 4,000 | ₹2,36,000 |
| Retail Maximum | 2 | 4,000 | ₹2,36,000 |
| Small HNI | 3 | 6,000 | ₹3,54,000 |
| Big HNI | 9 | 18,000 | ₹10,62,000 |
SHAKTI POLYTRAP IPO Reservation
- QIB
- 31.98%
- NII / HNI
- 31.56%
- Retail
- 36.46%
SHAKTI POLYTRAP Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 90.9%
- Post-IPO Promoter Holding
- 66.67%
- Anchor Allocation
- 8,22,000 share
SHAKTI POLYTRAP Company Overview
Shakti Polytarp Limited is an Indian manufacturer of tarpaulins, shade nets and other polymer-based technical textile products, headquartered in Indore, Madhya Pradesh. The company was incorporated as Shakti Polytarp Limited on March 22, 2018, although the promoters' operating experience in the tarpaulin business extends further back. Its products are primarily manufactured using polymer materials such as High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE) and polypropylene. The company's principal product offering includes plastic laminated tarpaulins, HDPE/PP woven fabrics, shade nets, wrapping fabrics and related protective products. Its products are marketed under brands including Dinotarp, and the company states that its tarpaulins are supplied across India as well as to customers in more than 20 overseas countries. The products are designed to provide characteristics such as water resistance, UV resistance, durability, tear resistance and protection from adverse environmental conditions. Shakti Polytarp serves numerous end-use industries. Its products can be used by agriculture businesses for crop and grain protection, construction companies for covering materials, logistics and transportation operators, fertilizer and cement companies, disaster-management organizations, fumigation providers and other industrial customers. The company's manufacturing operations are located at Nimrani in Khargone district, Madhya Pradesh. It operates a B2B-oriented business and also undertakes trading of plastic granules. For FY2026, the company reported total income of approximately ₹216.10 crore and PAT of around ₹10.06 crore, compared with total income of ₹166.50 crore and PAT of ₹4.97 crore in FY2025. Overall, Shakti Polytarp combines technical-textile manufacturing, polymer processing and trading activities, with its expansion strategy centered on increasing manufacturing capacity and strengthening its domestic and international presence.
SHAKTI POLYTRAP Business Model
Shakti Polytarp's principal business revolves around manufacturing HDPE/PP-based tarpaulins and allied technical-textile products. Tarpaulins are durable, flexible and water-resistant sheets commonly used to protect materials, equipment and goods from rain, sunlight, dust and other environmental factors. The company manufactures products across different GSM specifications, widths, sizes and performance requirements depending on customer applications. Its manufacturing process broadly involves polymer raw-material preparation, tape extrusion, weaving, coating or lamination, finishing, quality testing and final packaging. Important inputs include virgin LDPE granules, HDPE granules, PP granules and UV masterbatch. The company also undertakes activities involving woven fabric, reprocessed plastic granules and shade-net products. The company primarily follows a B2B model, selling products to industrial and institutional customers. Its tarpaulins and related products have applications in agriculture, construction, warehousing, transportation, packaging, fertilizer, cement and disaster-relief activities. It also undertakes trading of polymer granules, which adds another revenue stream but increases exposure to commodity-price movements. Shakti Polytarp's manufacturing facility is situated at Nimrani in Madhya Pradesh. The location supports access to customers and logistics networks and the company identifies manufacturing infrastructure, customized products and bulk procurement of raw materials as components of its operating strategy. Its future growth plan includes capacity expansion and upgradation of manufacturing infrastructure. This is reflected directly in the IPO objects, where the largest portion of proceeds is earmarked for purchasing plant and machinery. The company's performance therefore depends on efficient capacity utilization, stable polymer costs, repeat customer orders, effective working-capital management and its ability to compete on quality and pricing.
SHAKTI POLYTRAP Objects of the Issue
The IPO is a 100% fresh issue aggregating to approximately ₹26.93 crore at the upper price band. Current issue disclosures show the following utilization: pital Expenditure – Purchase of Plant & Machinery ₹20.88 Cr General Corporate Purposes & applicable issue expenses / balance ₹6.05 Cr* Total Fresh Issue ₹26.93 Cr *Some IPO disclosures leave the exact GCP figure blank, while the current issue-size breakdown calculates the residual ₹6.05 crore after the ₹20.88 crore capex allocation. Zerodha's current issue page explicitly reports ₹6.05 crore under general corporate purposes. Capex: ₹20.88 Cr | GCP/Balance: ₹6.05 Cr | Total Fresh Issue: ₹26.93 Cr
SHAKTI POLYTRAP Strengths
One of Shakti Polytarp's important strengths is its established manufacturing capability in tarpaulins and related technical-textile products. The company offers customized products with varying dimensions, GSM levels, widths and other performance characteristics, enabling it to serve customers with different industrial requirements. Its product portfolio includes laminated tarpaulins, woven fabrics, shade nets and related polymer products. Another strength is its exposure to multiple end-use industries. Tarpaulins have applications across agriculture, construction, transportation, warehousing, fertilizers, cement, disaster management and several other sectors. This means demand is not tied exclusively to a single industry, although product-level concentration remains a risk. The company's location in Madhya Pradesh can also provide logistical and operating advantages. Its manufacturing facility at Nimrani serves as the base for production, and the company has developed a domestic customer network while also stating that it supplies products internationally to more than 20 countries. Shakti Polytarp also emphasizes customized, end-to-end solutions, procurement efficiencies through bulk purchasing and an experienced management and workforce structure. These capabilities may help the company manage production costs and meet large-volume customer requirements. Financial growth has also strengthened materially. Total income increased from ₹62.23 crore in FY2024 to ₹166.50 crore in FY2025 and ₹216.10 crore in FY2026. PAT increased from ₹0.98 crore to ₹4.97 crore and then ₹10.06 crore over the same period. Finally, the IPO's ₹20.88 crore machinery investment could help expand capacity, modernize operations and support future sales growth if new capacity is utilized effectively.
SHAKTI POLYTRAP Risks
Shakti Polytarp has several material business risks, with customer concentration among the most important. Current offer-document-based summaries indicate that the company's top ten customers have contributed more than 77% of revenue, while one major customer has accounted for a substantial share of revenue in certain periods. Loss of a large customer, lower procurement by key customers or stronger pricing negotiations could therefore materially affect sales and profitability. Supplier concentration is another concern. The company depends significantly on a relatively small number of suppliers for polymer-based raw materials, with its top ten suppliers accounting for a substantial proportion of purchases. Any disruption in supply, deterioration in supplier relationships or changes in payment terms could affect production and working-capital requirements. Raw-material prices are also inherently volatile. HDPE, LDPE and PP are petrochemical-derived products, meaning their prices may be influenced by crude-oil prices, global polymer supply, foreign exchange movements and demand conditions. If input costs increase faster than the company can pass them on to customers, margins may decline. The company also has high financial leverage. FY2026 total borrowings were approximately ₹72.51 crore against net worth of ₹27.86 crore, with reported Debt/Equity around 2.60x. This increases sensitivity to interest costs, cash-flow fluctuations and working-capital requirements. Another risk is that the registered office and manufacturing facility operate on leased/rented premises rather than company-owned property. Operational disruption or unfavorable lease-related developments could affect the business. The company has also experienced negative operating cash flows in previous periods, while its business remains exposed to competition, environmental regulations relating to plastics and capacity-utilization risk after its planned machinery expansion.
SHAKTI POLYTRAP Frequently Asked Questions
What is the SHAKTI POLYTRAP IPO price band?
The SHAKTI POLYTRAP IPO price band is 56 - 59.
What is the latest SHAKTI POLYTRAP IPO GMP?
The latest available SHAKTI POLYTRAP IPO GMP in the IPOWEB database is ₹0. GMP is unofficial and does not guarantee a listing gain.
When does the SHAKTI POLYTRAP IPO open and close?
The SHAKTI POLYTRAP IPO opens on 15 SEP and closes on 17 SEP.
When is the SHAKTI POLYTRAP IPO allotment date?
The SHAKTI POLYTRAP IPO allotment date is 18 SEP.
When is the SHAKTI POLYTRAP IPO listing date?
The SHAKTI POLYTRAP IPO listing date is 22 SEP.