GMP IPO Watch
The Shakti Polytarp IPO opened for subscription on September 15, 2026, and will close on September 17, 2026. The BSE SME IPO has a price band of ₹56 to ₹59 per share and an issue size of ₹26.93 crore. The entire issue is a fresh issue of 45.64 lakh shares.
| Particular | Details |
|---|---|
| IPO Name | Shakti Polytarp IPO |
| IPO Dates | Sep 15–17, 2026 |
| IPO Type | BSE SME |
| Price Band | ₹56–₹59 |
| Issue Size | ₹26.93 Cr |
| Issue Type | Fresh Issue |
| Shares Offered | 45.64 Lakh |
| Lot Size | 2,000 Shares |
| Retail Minimum | 4,000 Shares |
| Min Investment | ₹2,36,000 |
| Allotment | Sep 18, 2026 |
| Demat Credit | Sep 21, 2026 |
| Listing Date | Sep 22, 2026 |
| Listing | BSE SME |
Shakti Polytarp IPO GMP Today
The latest reported Shakti Polytarp IPO GMP is ₹0. Current grey-market tracking does not indicate a premium over the IPO's upper price of ₹59.
With a GMP of ₹0, the unofficial indicated price remains around ₹59. However, GMP is an unofficial and unregulated indicator and can change before listing. It should not be considered a guaranteed listing price.
Shakti Polytarp IPO Subscription Status
The Shakti Polytarp IPO subscription reached around 0.74x overall by 5 PM on September 16, according to Economic Times. NII demand was 1.47x, while the QIB portion excluding anchors remained at 0x.
Another exchange-linked update showed the issue at around 0.72x, with NII at 1.48x and retail at 0.26x on September 16.
| Investor Category | Subscription |
|---|---|
| QIB | 0.00x |
| NII | ~1.47x |
| Retail | ~0.26x |
| Overall | ~0.74x |
The final subscription figure will depend on bids received on September 17, the closing day.
Shakti Polytarp IPO Lot Size and Minimum Investment
The Shakti Polytarp IPO lot size is 2,000 shares. At the upper price band of ₹59, one lot is worth ₹1.18 lakh. Retail investors need to apply for at least two lots, or 4,000 shares, resulting in a minimum retail application of ₹2.36 lakh.
| Particular | Details |
|---|---|
| Lot Size | 2,000 Shares |
| Upper Price | ₹59 |
| One Lot Value | ₹1,18,000 |
| Retail Minimum | 4,000 Shares |
| Retail Investment | ₹2,36,000 |
Shakti Polytarp Company Business
Shakti Polytarp Limited is an Indore-based manufacturer of tarpaulins and related polymer-based products. The company operates under the Dinotarp brand and manufactures products including tarpaulins, shade nets, woven fabrics and polymer granules.
Its products are supplied to customers across different applications, with the business focusing on customised tarpaulin and shade-net solutions. The company operates in a B2B-oriented market where product specifications such as GSM, width and shading percentage can vary according to customer requirements.
Shakti Polytarp Manufacturing Operations
The company has a manufacturing facility in Madhya Pradesh. Its location provides access to raw materials and regional markets, while the company has highlighted bulk procurement of raw materials as part of its operating approach.
The product portfolio covers multiple sizes and specifications of tarpaulins and shade nets. This allows the company to serve different end-use requirements rather than relying on a single standard product.
However, the manufacturing and registered-office premises are operated on leased properties rather than being owned by the company, which is an important factor to consider when assessing its operating structure.
Shakti Polytarp IPO Financial Performance
Shakti Polytarp has recorded substantial revenue growth in recent years. Available IPO data indicates a revenue CAGR of around 67.20% over the reported period, while PAT growth was also strong.
| Financial Metric | Recent Performance |
|---|---|
| Revenue CAGR | ~67.20% |
| PAT Growth | ~102.41% |
| FY26 PAT Margin | ~4.66% |
| FY26 ROE/RoNW | ~44.04% |
| FY26 ROCE | ~17.87% |
| Debt-to-Equity | ~2.60x |
The company's high return ratios need to be considered alongside its relatively high leverage and working-capital requirements.
Shakti Polytarp IPO Objects of the Issue
The entire ₹26.93 crore issue is a fresh issue, meaning the funds raised are intended for the company rather than existing shareholders through an offer for sale.
Approximately ₹20.88 crore, or around 77.53% of the issue proceeds, is proposed for capital expenditure toward the purchase of plant and machinery. The remaining amount is intended for general corporate purposes.
| Use of IPO Funds | Amount |
|---|---|
| Plant & Machinery | ₹20.88 Cr |
| General Corporate Purpose | ₹6.05 Cr |
| Total | ₹26.93 Cr |
The planned capital expenditure is therefore the main focus of the IPO's fund utilisation.
Shakti Polytarp IPO Strengths
The Shakti Polytarp IPO has several business characteristics that investors may want to examine:
- Established presence in tarpaulin and shade-net manufacturing.
- Broad product range across different specifications.
- Customised B2B product offerings.
- Manufacturing presence in Madhya Pradesh.
- Revenue growth in recent financial years.
- Planned investment in additional plant and machinery.
- Bulk raw-material procurement can support cost management.
These are business characteristics rather than indications of future share-price performance.
Shakti Polytarp IPO Risks
The Shakti Polytarp IPO also carries several risks. The company depends heavily on a relatively limited range of products, including tarpaulins and polymer granules. Raw-material price movements can therefore affect margins.
Customer concentration is another consideration. The company's top 10 customers reportedly contributed more than 77% of revenue, while its top 10 suppliers account for a large share of raw-material purchases.
The company has also reported negative operating cash flows in previous fiscal periods. In addition, its debt-to-equity ratio is relatively high, while the manufacturing facility and registered office are on leased premises.
As a BSE SME issue, the higher minimum investment and potentially lower trading liquidity compared with mainboard stocks are also relevant factors.
Shakti Polytarp IPO Important Dates
The Shakti Polytarp IPO opened on September 15 and closes on September 17, 2026. The basis of allotment is scheduled for September 18, shares are expected to be credited to demat accounts on September 21, and listing is scheduled for September 22 on BSE SME.
| Event | Date |
|---|---|
| IPO Opens | Sep 15, 2026 |
| IPO Closes | Sep 17, 2026 |
| Allotment | Sep 18, 2026 |
| Refund | Sep 21, 2026 |
| Demat Credit | Sep 21, 2026 |
| Listing | Sep 22, 2026 |
Shakti Polytarp IPO Key Highlights
- Shakti Polytarp IPO issue size is ₹26.93 crore.
- Price band is ₹56–₹59 per share.
- The issue is entirely a fresh issue.
- Lot size is 2,000 shares.
- Minimum retail application is 4,000 shares.
- Minimum retail investment is ₹2.36 lakh.
- Latest reported GMP is ₹0.
- Day 2 subscription was around 0.74x.
- NII subscription was around 1.47x.
- The company manufactures tarpaulins, shade nets and related polymer products.
- ₹20.88 crore of IPO proceeds is planned for plant and machinery.
- Shares are scheduled to list on BSE SME on September 22, 2026.
Shakti Polytarp IPO Review
The Shakti Polytarp IPO is a ₹26.93 crore BSE SME issue from a company operating in tarpaulin, shade-net and polymer-based products. The company has reported strong revenue growth and plans to use most of the IPO proceeds for plant and machinery.
At the same time, investors should examine the company's customer and supplier concentration, debt levels, operating cash flows, raw-material exposure and dependence on leased premises. The current GMP of ₹0 is also an unofficial market indicator and should not be treated as a forecast of the listing price.
Shakti Polytarp IPO Conclusion
The Shakti Polytarp IPO is priced at ₹56–₹59 per share and closes on September 17, 2026. The company operates in the polymer-based tarpaulin and shade-net segment and plans to invest ₹20.88 crore of the IPO proceeds in plant and machinery.
The latest reported GMP is ₹0, while the issue had reached around 0.74x subscription by the end of September 16. Investors tracking the IPO should consider the company's financial growth, planned capacity investment, leverage, customer concentration, raw-material exposure and SME-market characteristics before making an investment decision.
Disclaimer: Shakti Polytarp IPO GMP is unofficial and unregulated. GMP and subscription figures can change frequently. Investors should verify the latest IPO documents and exchange disclosures before making any investment decision.
