Shree TNB Polymers IPO
Updated 23 Sept 2026, 1:50 pm.
Minimum investment (Individual investors (IND))
₹2,08,000
2 lots · 4,000 shares at the upper price band
Price band
₹47–52
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹29.64 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹47–52
- Issue size
- ₹29.64 Cr
- Lot size
- 2,000
- Opens
- 25 Sept 2026
- Closes
- 29 Sept 2026
- Allotment
- 30 Sept 2026
- Listing
- 5 Oct 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- MUFG Intime India Pvt.Ltd.
- Minimum investment
- ₹2,08,000 (2 lots · 4,000 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Listing at
- BSE SME
- Refunds
- 1 Oct 2026
- Shares credited
- 1 Oct 2026
- Promoter holding
- 45.56% before · 32.76% after
- Lead managers
- Corporate Makers Capital Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 23 Sept 2026, 2:05 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 25 to 29 Sep, 2026 |
|---|---|
| Listing Date | Mon, Oct 5, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹47 to ₹52 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹ 31 Cr) |
|---|---|
| Reserved for Market Maker | 3,00,000 shares (agg. up to ₹ 2 Cr) Asnani Stock Broker Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 57,00,000 shares (agg. up to ₹ 30 Cr) |
| Net Offered to Public | 57,00,000 shares (agg. up to ₹ 30 Cr) |
| Share Holding Pre Issue | 1,53,44,997 shares |
| Share Holding Post Issue | 2,13,44,997 shares |
IPO Timetable (Tentative)
- IPO Open
- Fri, Sep 25, 2026
- IPO Close
- Tue, Sep 29, 2026
- Allotment
- Wed, Sep 30, 2026
- Refund
- Thu, Oct 1, 2026
- Credit of Shares
- Thu, Oct 1, 2026
- Listing
- Mon, Oct 5, 2026
Issue Reservation
- QIB47.43%
- NII (HNI)14.30%
- Retail33.27%
- Market Maker5.00%
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB | 28,46,000 | 49.93% | 47.43% |
| - Anchor Investor | 17,06,000 | — | 28.43% |
| - QIB (Ex. Anchor) | 11,40,000 | — | 19.00% |
| NII (HNI) | 8,58,000 | 15.05% | 14.30% |
| Retail | 19,96,000 | 35.02% | 33.27% |
| Firm Reservations | |||
| Market Maker | 3,00,000 | — | 5.00% |
| Total | 60,00,000 | 100.00% | 100.00% |
Shree TNB Polymers IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 57,00,000 shares, after excluding 3,00,000 shares allotted on a firm basis. Of the Net offer 28,46,000 (49.93%) are allocated to QIB , 8,58,000 (15.05%) allocated to NII 19,96,000 (35.02%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4000 | ₹2,08,000 |
| Individual investors (IND) (Max) | 2 | 4000 | ₹2,08,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,12,000 |
| S-HNI (Max) | 9 | 18000 | ₹9,36,000 |
| B-HNI (Min) | 10 | 20000 | ₹10,40,000 |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
IPO Subscription Details
About Shree TNB Polymers Ltd.
Incorporated on March 07, 2007, Shree TNB Polymers Limited is a Silvassa-based polymer manufacturing company specializing in piping systems and plastic solutions. The Company's products are designed to meet the evolving demands of critical applications such as irrigation and agriculture, potable water supply schemes, sewerage and drainage systems, telecom cable protection, construction, and industrial usage.
The company offers a diversified product portfolio comprising HDPE pipes & fittings, PP (Polypropylene) and PPH (Polypropylene Homopolymer) pipes & fittings, Double Wall Corrugated (DWC) pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well pack sheets for packaging and industrial applications.
It operates two manufacturing facilities at Silvassa across 23,028 sq. mtrs. with a combined installed capacity of 24,000 MT per annum, supported by in-house quality testing laboratories and BIS/ISO certifications across multiple Indian Standards. As of March 31, 2026, the company employed 318 full-time employees and maintained a 325+ dealer/distributor network across India, with exports to UAE, Sri Lanka, Oman, and Germany.
As at July 31, 2026, we had 298 full-time employees and 39 contract labourers.
Competitive Strengths:
Strong promoter-driven business with deep market understanding and relationships. Established presence in the polymers/trading/manufacturing segment with long-standing industry experience.
Diversified product portfolio catering to multiple industrial applications
Cordial relationship with the customers/ dealers/ distributors and established manufacturing facilities
Quality Products with Certifications
Company Financials (Restated Standalone)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 145.26 | 127.38 | 105.03 |
| Total Income | 198.31 | 175.70 | 207.97 |
| Profit After Tax | 7.13 | 5.77 | 5.03 |
| EBITDA | 19.20 | 15.47 | 15.22 |
| NET Worth | 55.68 | 48.55 | 34.21 |
| Reserves and Surplus | 40.34 | 38.32 | 25.26 |
| Total Borrowing | — | 38.50 | 35.82 |
| Amount in ₹ Crore |
Shree TNB Polymers Ltd.'s revenue increased by 13% and profit after tax (PAT) rose by 24% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Plastic Products - Industrial
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Manas Polymers & Energies Ltd. | SME | ₹23.52 Cr | ₹81 | 9.19 | ₹146.20 | +80.49% | ₹22.00 |
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IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure for purchase of machinery | 15.86 |
| 2 | Capital Expenditure for the purchase and installation of Solar panel/ Roof top | 2.60 |
| 3 | Part finances the capital expenditure for construction/ installation of Pre-Engineered Building (PEB) structure for new manufacturing facility | 1.32 |
| 4 | Repayment of certain borrowings | 5.62 |
| 5 | General Corporate Purpose | — |
| Total | 25.40 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 13.69% |
| ROCE | 16.02% |
| Debt/Equity | 0.80 |
| RoNW | 13.95% |
| PAT Margin | 3.60% |
| EBITDA Margin | 9.69% |
| NAV | 36.29 |
| Price to Book Value | 1.10 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 4.65 | 3.34 |
| P/E (x) | 11.18 | 15.57 |
| Market Cap at Offer Price | ₹79.79 Cr. | ₹110.99 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 Group45.56%
- Public54.44%
Post IPO
- Promoter and Promoter Group32.76%
- Public67.24%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 45.56% | 32.76% |
| Public | 54.44% | 67.24% |
| Total | 100% | 100% |
Company Promoters: Vijay Jaysukhlal Thosani, Rasikbhai Gokalbhai Bhalodi, Deepak Kumar Raura, Shilpaben Rasikbhai Bhalodi, Beena Vijay Thosani, Reeta Deepak Raura, Kishan Chandulal Patel, Vipul Gokalbhai Bhalodi, Hasmukhbhai Gokalbhai Bhalodi, Jignaben Vipulbhai Bhalodi and Jalpaben Hasmukhbhai Bhalodi.
Shree TNB Polymers IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
MUFG Intime India Pvt.Ltd.
022-49186000
.smeipo@in.mpms.mufg.com
IPO Lead Manager(s)
Corporate Makers Capital Ltd.
Contact Details
Shree TNB Polymers Ltd. Address
Sr. No. 132/1/1/4,
Behind Prince Pipes
Athalroad
Silvassa, Dadra and Nagar Haveli and Daman and Diu , 396230
+91- 9662602584
cs@shreetnbpolymers.in
Shree TNB Polymers IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Shree TNB Polymers: common questions
Answered from this issue's own record.
