SME
    listed

    Injecto Polymers IPO

    Updated 24 Oct 2026, 6:50 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Individual investors (IND))

    ₹2,40,000

    2 lots · 2,400 shares at the upper price band

    Price band

    ₹100

    Latest GMP

    ₹0

    0.0% of the ₹100 upper band

    Est. listing price

    ₹100

    Issue size

    ₹53.29 Cr

    Allotment status

    Check it on the registrar's page or either exchange with your PAN or application number.

    1. Allotment finalised17 Sept 2026(done)
    2. Refunds start18 Sept 2026(done)
    3. Shares credited to demat18 Sept 2026(done)
    4. Listing21 Sept 2026(done)

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    21 Sept 2026, 6:50 pm₹0₹100
    21 Sept 2026, 6:45 pm₹0₹100
    21 Sept 2026, 1:50 pm₹0₹100
    21 Sept 2026, 1:46 pm₹0₹100
    21 Sept 2026, 11:23 am₹0₹100
    21 Sept 2026, 8:45 am₹0₹100
    19 Sept 2026, 6:45 pm₹0₹100
    19 Sept 2026, 1:45 pm₹0₹100
    19 Sept 2026, 8:45 am₹0₹100
    18 Sept 2026, 6:45 pm₹0₹100
    18 Sept 2026, 1:45 pm₹0₹100
    18 Sept 2026, 8:45 am₹0₹100
    17 Sept 2026, 6:45 pm₹0₹100
    17 Sept 2026, 1:45 pm₹0₹100
    17 Sept 2026, 8:45 am₹0₹0
    16 Sept 2026, 6:45 pm₹0₹0
    16 Sept 2026, 1:45 pm₹0₹0
    16 Sept 2026, 8:50 am₹0₹0
    16 Sept 2026, 8:45 am₹0₹0
    15 Sept 2026, 9:28 pm₹0₹0
    15 Sept 2026, 9:20 pm₹0₹0
    15 Sept 2026, 8:37 pm₹0₹0
    15 Sept 2026, 8:30 pm₹0₹0
    15 Sept 2026, 8:00 pm₹0₹0
    15 Sept 2026, 2:12 pm₹0₹0
    15 Sept 2026, 2:10 pm₹0₹0
    15 Sept 2026, 12:09 am₹0₹0
    15 Sept 2026, 12:08 am₹0₹0
    14 Sept 2026, 2:27 pm₹0₹0
    14 Sept 2026, 2:25 pm₹0₹0
    12 Sept 2026, 9:50 pm₹0₹0
    12 Sept 2026, 9:49 pm₹0₹0
    12 Sept 2026, 5:41 pm₹0₹0
    12 Sept 2026, 5:40 pm₹0₹0
    12 Sept 2026, 1:26 pm₹0₹0
    12 Sept 2026, 1:25 pm₹0₹0
    11 Sept 2026, 10:33 pm₹0₹0
    11 Sept 2026, 10:31 pm₹0₹0
    11 Sept 2026, 6:20 pm₹0₹0
    11 Sept 2026, 6:19 pm₹0₹0
    11 Sept 2026, 1:35 pm₹0₹0
    11 Sept 2026, 1:33 pm₹0₹0
    11 Sept 2026, 12:30 pm₹0₹0
    11 Sept 2026, 12:25 pm₹0₹0
    11 Sept 2026, 12:20 pm₹0₹0
    11 Sept 2026, 11:58 am₹0₹0
    10 Sept 2026, 11:47 pm₹0₹0
    10 Sept 2026, 11:07 pm₹0₹0
    10 Sept 2026, 11:00 pm₹0₹0
    10 Sept 2026, 10:30 pm₹0₹0
    10 Sept 2026, 10:29 pm₹0₹0
    10 Sept 2026, 6:26 pm₹0₹0
    10 Sept 2026, 6:25 pm₹0₹0
    10 Sept 2026, 4:50 pm₹0₹0
    10 Sept 2026, 1:38 pm₹0₹0
    10 Sept 2026, 11:43 am₹0₹0
    10 Sept 2026, 11:40 am₹0₹0
    10 Sept 2026, 11:39 am₹0₹0
    9 Sept 2026, 10:39 pm₹0₹0

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    SME
    Price band
    ₹100
    Issue size
    ₹53.29 Cr
    Lot size
    1,200
    Opens
    11 Sept 2026
    Closes
    16 Sept 2026
    Allotment
    17 Sept 2026
    Listing
    21 Sept 2026
    Est. listing price
    ₹100
    Listing price
    Awaited
    Listing gain
    Awaited
    Registrar
    Integrated Registry Management Services Pvt.Ltd.
    Minimum investment
    ₹2,40,000 (2 lots · 2,400 shares)
    Face value
    ₹10 per share
    Issue type
    Bookbuilding IPO
    Sale type
    Fresh capital only
    Listing at
    BSE SME
    Refunds
    18 Sept 2026
    Shares credited
    18 Sept 2026
    Promoter holding
    88.14% before · 64.35% after
    Lead managers
    Indcap Advisors Pvt.Ltd.

    Subscription by category

    As of 16 Sept 2026, 6:54 pm.

    Total subscription

    1.00x

    Qualified Institutional1.57×
    Non Institutional1.05×
    Retail Individual1.28×

    Full issue details

    Details as published for this issue, read 19 Sept 2026, 9:05 am. Verify against the RHP before applying.

    IPO Details

    IPO Date11 to 16 Sep, 2026
    Listing DateMon, Sep 21, 2026
    Face Value₹ 10 per share
    Price Band₹98 to ₹100
    Issue Price₹100 per share
    Lot Size1,200 Shares
    Sale TypeFresh capital only
    Issue TypeBookbuilding IPO
    Listing AtBSE SME
    Total Issue Size56,12,400 shares (agg. up to ₹ 56 Cr)
    Reserved for Market Maker2,83,200 shares (agg. up to ₹ 3 Cr) CapitalSquare Financial Services Pvt.Ltd.
    Fresh Issue (Ex Market Maker)53,29,200 shares (agg. up to ₹ 53 Cr)
    Net Offered to Public53,29,200 shares (agg. up to ₹ 53 Cr)
    Share Holding Pre Issue1,51,77,200 shares
    Share Holding Post Issue2,07,89,600 shares
    BSE Script Code5,44,930
    ISININE1JJF01019

    IPO Timetable

    IPO Open
    Fri, Sep 11, 2026
    IPO Close
    Wed, Sep 16, 2026
    Allotment
    Thu, Sep 17, 2026
    Refund
    Fri, Sep 18, 2026
    Credit of Shares
    Fri, Sep 18, 2026
    Listing
    Mon, Sep 21, 2026

    Issue Reservation

    • QIB28.44%
    • NII (HNI)33.25%
    • Retail33.27%
    • Market Maker5.05%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Net Issue% of Total Issue
    QIB15,96,00029.95%28.44%
    - Anchor Investor9,57,600—17.06%
    - QIB (Ex. Anchor)6,38,400—11.37%
    NII (HNI)18,66,00035.01%33.25%
    - bNII > ₹10L12,44,400—22.17%
    - sNII < ₹10L6,21,600—11.08%
    Retail18,67,20035.04%33.27%
    Firm Reservations
    Market Maker2,83,200—5.05%
    Total56,12,400100.00%100.00%

    Injecto Polymers IPO comprises a total issue size of 56,12,400 shares. The net offer to the public is 53,29,200 shares, after excluding 2,83,200 shares allotted on a firm basis. Of the Net offer 15,96,000 (29.95%) are allocated to QIB , 18,66,000 (35.01%) allocated to NII 18,67,200 (35.04%) allocated to RII .

    IPO Lot Size

    Individual investors (IND) (Min)₹2,40,000
    Individual investors (IND) (Max)₹2,40,000
    S-HNI (Min)₹3,60,000
    S-HNI (Max)₹9,60,000
    B-HNI (Min)₹10,80,000
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Individual investors (IND) (Min)22,400₹2,40,000
    Individual investors (IND) (Max)22,400₹2,40,000
    S-HNI (Min)33,600₹3,60,000
    S-HNI (Max)89,600₹9,60,000
    B-HNI (Min)910,800₹10,80,000

    Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.

    IPO Anchor Investors

    Bid DateThu, Sep 10, 2026
    Shares Offered9,57,600
    Anchor Portion (₹ Cr.)9.58
    Anchor lock-in period end date for 50% shares (30 Days)Sat, Oct 17, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Wed, Dec 16, 2026

    Injecto Polymers IPO raises ₹ 9.58 crore from anchor investors . Injecto Polymers IPO Anchor bid date is September 10, 2026 .

    📝 Anchor Investors Letter (PDF)

    About Injecto Polymers Ltd.

    Incorporated in September 1998, Injecto Polymers Private Limited, The Company is engaged in the manufacturing of a diverse range of plastic packaging products and the trading of plastic granules and Polyvinyl Chloride (PVC) resins. The Company manufactures a wide range of packaging products, including Polypropylene (PP) Woven Fabrics, PP Woven Bags, Biaxially Oriented Polypropylene (BoPP) Bags, Leno Bags, Low-Density and Polyester Pouches, Flexible Intermediate Bulk Container (FIBC) Bags and Non-Woven Bags. These products are used across industries such as agriculture, construction, textiles, chemicals, food, pharmaceuticals, cosmetics and consumer goods. The Company primarily operates under a Business-to-Business (B2B) model, supplying customised packaging products in various shapes and sizes based on customer requirements.

    Injecto Polymers operates two manufacturing units in West Bengal, located at Jaugram, Jamalpur and Andul Road, Howrah. The manufacturing facilities are supported by modern machinery, software-based monitoring systems and an in-house testing facility for quality and compliance checks. The Company's manufacturing units are certified under ISO 9001:2015 and ISO 22000:2018, and it also holds BIS certification for food-grade packaging, supporting its focus on product quality and food safety.

    The Company serves institutional and industrial customers through bulk orders and offers a diversified product portfolio catering to multiple end-use industries. Its operations are supported by a focus on product customisation, quality control and customer relationships, while the location of its manufacturing facilities provides access to established industrial and logistics networks in West Bengal.

    As of July 31, 2026, the Company had 158 permanent full-time employees.

    Competitive Strengths

    Strong customer relationships.

    Locational advantage of manufacturing units.

    Quality standard certifications and quality testing.

    Multi-product portfolio and customisation capabilities.

    Experienced promoters and senior management team.

    Company Financials (Restated)

    Total Income

    31 Mar 2024109.80
    31 Mar 2025261.85
    31 Mar 2026375.83

    Profit After Tax

    31 Mar 20244.44
    31 Mar 20258.11
    31 Mar 202616.01

    EBITDA

    31 Mar 202412.35
    31 Mar 202522.57
    31 Mar 202638.04

    NET Worth

    31 Mar 202421.22
    31 Mar 202547.33
    31 Mar 202663.34
    Company Financials (Restated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets270.93170.57121.25
    Total Income375.83261.85109.80
    Profit After Tax16.018.114.44
    EBITDA38.0422.5712.35
    NET Worth63.3447.3321.22
    Reserves and Surplus48.1632.157.84
    Total Borrowing165.19101.1183.35
    Amount in ₹ Crore

    Injecto Polymers Ltd.'s revenue increased by 44% and profit after tax (PAT) rose by 97% between the financial year ending with March 31, 2026 and March 31, 2025.

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    Diksha Polymers Ltd.SME₹17.90 Cr₹1129.79₹120.20+7.32%₹205.00
    RFBL Flexi Pack Ltd.SME₹35.33 Cr₹509.75₹55.10+10.20%₹84.30
    Ecoline Exim Ltd.SME₹76.42 Cr₹14112.12₹140.50-0.35%₹173.30
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    IPO Objects of the Issue

    Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by Company10.00
    Funding the Capital expenditure towards setting up phase IV at existing manufacturing facility, Unit-I, situated at NH2 Bypass Road, Jaugram, Abujhati, Jamalpur, West Bengal30.50
    General Corporate Purposes7.28
    Issue Expense8.34
    IPO Objects of the Issue: What the proceeds are earmarked for (₹ Cr.). Figures as published in the table below.
    #Issue ObjectsEst Amt (₹ Cr.)
    1Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by Company10.00
    2Funding the Capital expenditure towards setting up phase IV at existing manufacturing facility, Unit-I, situated at NH2 Bypass Road, Jaugram, Abujhati, Jamalpur, West Bengal30.50
    3General Corporate Purposes7.28
    4Issue Expense8.34
    Total56.12

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    ROE28.94%
    ROCE15.64%
    Debt/Equity2.61
    RoNW41.73%
    PAT Margin4.26%
    EBITDA Margin10.13%
    NAV41.73
    Price to Book Value2.40

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)10.557.70
    P/E (x)9.4812.99
    Market Cap at Offer Price₹151.77 Cr.₹207.90 Cr

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

    Shareholding Structure

    Pre IPO

    • Promoter and Promoter Group88.14%
    • Public11.86%

    Post IPO

    • Promoter and Promoter Group64.35%
    • Public35.65%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group88.14%64.35%
    Public11.86%35.65%
    Total100%100%

    Company Promoters: Ramesh Kumar Rateria, Ashok Kumar Rateria, Suman Financial Advisory Pvt.Ltd., Suman Towers Pvt.Ltd., Vinayak Tie-Up Pvt.Ltd., Nivedeeka Commercial Pvt.Ltd. and Bhagyashri Trading Pvt.Ltd..

    Injecto Polymers IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0000
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid forTotal Applications
    QIB (Ex Anchor)1.576,38,4009,99,6000
    NII *1.0518,66,00019,68,0000
    bNII (> ₹10L)1.4712,44,40018,28,800—
    sNII (< ₹10L)0.226,21,6001,39,200—
    Individual Investor1.2818,67,20023,88,0000
    Total1.2343,71,60053,55,6001,110

    The Injecto Polymers IPO is subscribed 1.23 times on September 16, 2026 6:54:52 PM (Day 3). The public issue subscribed 1.28 times in the individual investors category, 1.57 times in the QIB category, and 1.05 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 1,110

    *Market Maker portion is not included to NII/HNI.

    IPO Expenses

    #Issue ExpensesEst Amt (₹ Cr.)
    1Book Running Lead Manager Fees and commission including Underwriting Commission3.15
    2Commission / processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs.0.01
    3Fees Payable to Registrar to the Issue0.01
    4Fees Payable Advertising, Marketing Expenses, Publishing and Printing Expenses0.05
    5Fees Payable to Regulators including Stock Exchanges and other Intermediaries0.06
    6Fees payable to Peer Review Auditor0.01
    7Fees Payable to Market Maker0.12
    8Others (Fees payable for marketing and distributing expenses, selling commission, brokerage, processing fees, underwriting fees and miscellaneous expenses)4.92
    9Escrow Bank Fees0.01
    Total8.34

    IPO Registrar

    Integrated Registry Management Services Pvt.Ltd.

    044-28140801/28140803

    irg@integratedindia.in

    IPO Lead Manager(s)

    Indcap Advisors Pvt.Ltd.

    Contact Details

    Injecto Polymers Ltd. Address

    5 th Floor, Room No. 2, Gate No. 3,

    Poddar Court, 18, Rabindra Sarani

    Lalbazar

    Kolkata, West Bengal , 700001

    033 22378167

    cs@injectopolymers.in

    FAQ

    Injecto Polymers: common questions

    Answered from this issue's own record.

    The Injecto Polymers SME IPO is priced at ₹100 per share, for an issue size of ₹53.29 crore.

    The issue opens on 11 Sept 2026 and closes on 16 Sept 2026, with listing expected on 21 Sept 2026.

    One lot is 1200 shares, and applications must be in multiples of a lot. At the upper band that is ₹1,20,000 for one lot.

    Latest recorded subscription: QIB 1.57x, NII 1.05x, retail 1.28x (as of 24 Oct 2026).