SME
    open

    Injecto Polymers IPO

    Updated 11 Sept 2026, 5:03 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

    ₹98–100

    Latest GMP

    ₹0

    0.0% of the ₹100 upper band

    Est. listing price

    ₹0

    Issue size

    ₹53.29 Cr

    GMP history

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

    ObservedGMPEst. listing price
    11 Sept 2026, 5:03 pm₹0₹0
    11 Sept 2026, 5:01 pm₹0₹0
    11 Sept 2026, 12:50 pm₹0₹0
    11 Sept 2026, 12:49 pm₹0₹0
    11 Sept 2026, 8:05 am₹0₹0
    11 Sept 2026, 8:03 am₹0₹0
    11 Sept 2026, 7:00 am₹0₹0
    11 Sept 2026, 6:55 am₹0₹0
    11 Sept 2026, 6:50 am₹0₹0
    11 Sept 2026, 6:28 am₹0₹0
    10 Sept 2026, 6:17 pm₹0₹0
    10 Sept 2026, 5:37 pm₹0₹0
    10 Sept 2026, 5:30 pm₹0₹0
    10 Sept 2026, 5:00 pm₹0₹0
    10 Sept 2026, 4:59 pm₹0₹0
    10 Sept 2026, 12:56 pm₹0₹0
    10 Sept 2026, 12:55 pm₹0₹0
    10 Sept 2026, 11:20 am₹0₹0
    10 Sept 2026, 8:08 am₹0₹0
    10 Sept 2026, 6:13 am₹0₹0
    10 Sept 2026, 6:10 am₹0₹0
    10 Sept 2026, 6:09 am₹0₹0
    9 Sept 2026, 5:09 pm₹0₹0

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

    Issue details

    Board
    SME
    Price band
    ₹98–100
    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
    ₹0
    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 11 Sept 2026, 11:39 am.

    Total subscription

    0.29x

    Qualified Institutional1.02×
    Non Institutional0.08×
    Retail Individual0.26×

    Full issue details

    Details as published for this issue, read 11 Sept 2026, 5:10 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date11 to 16 Sep, 2026
    Listing DateMon, Sep 21, 2026 T
    Face Value₹ 10 per share
    Price Band₹98 to ₹100
    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

    IPO Timetable (Tentative)

    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

    Investor CategoryShares% of Net Issue% of Total Issue
    QIB15,96,00029.95%28.44%
    - Anchor Investor9,57,60017.06%
    - QIB (Ex. Anchor)6,38,40011.37%
    NII (HNI)18,66,00035.01%33.25%
    - bNII > ₹10L12,44,40022.17%
    - sNII < ₹10L6,21,60011.08%
    Retail18,67,20035.04%33.27%
    Firm Reservations
    Market Maker2,83,2005.05%
    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

    ApplicationLotsSharesAmount
    Individual investors (IND) (Min)22400₹2,40,000
    Individual investors (IND) (Max)22400₹2,40,000
    S-HNI (Min)33600₹3,60,000
    S-HNI (Max)89600₹9,60,000
    B-HNI (Min)910800₹10,80,000

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

    IPO Subscription Details

    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)

    IPO Anchor Investors List

    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)

    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.

    Recently Listed IPOs in Packaging

    CompanyIssue TypeIssue SizeIssue PricePE RatioListing Day CloseListing Gain/Loss %LTP
    Dhaval Packaging Ltd.SME₹36.36 Cr₹9712.05₹111.68+15.13%₹115.75
    Diksha Polymers Ltd.SME₹17.90 Cr₹1129.79₹120.20+7.32%₹200.00
    RFBL Flexi Pack Ltd.SME₹35.33 Cr₹509.75₹55.10+10.20%₹90.15
    Ecoline Exim Ltd.SME₹76.42 Cr₹14112.12₹140.50-0.35%₹171.00
    Knack Packaging Ltd.Mainboard₹439.50 Cr₹17018.33₹182.98+7.64%₹186.96

    View More &raquo;

    IPO Objects of the Issue

    #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 Purposes
    Total40.50

    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

    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 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