About Injecto Polymers IPO
Injecto Polymers IPO Details
Injecto Polymers IPO is a book-built SME issue of ₹56.12 crore, consisting entirely of a fresh issue of 56.12 lakh equity shares of face value ₹10 each. There is no offer-for-sale component. The equity shares are proposed to be listed on the BSE SME platform. The price band has been fixed at ₹90–₹100 per share. The lot size is 1,200 shares, while retail investors must apply for a minimum of 2,400 shares, or two lots, requiring an investment of ₹2,40,000 at the upper price band.
The IPO will open for subscription on Friday, September 11, 2026 and close on Wednesday, September 16, 2026. Indcap Advisors Private Limited is the book-running lead manager and Integrated Registry Management Services Pvt Ltd is the registrar to the issue.
Injecto Polymers IPO Date & Timeline
Injecto Polymers Limited filed its draft offer document and received in-principle approval for its proposed BSE SME listing. The company has now announced the public-issue terms. The public issue will open on Friday, September 11, 2026 and close on Wednesday, September 16, 2026.
The basis of allotment is expected to be finalised on Thursday, September 17, 2026. Refunds are expected to be initiated and allotted shares credited to eligible investors' demat accounts on Friday, September 18, 2026. The equity shares are tentatively scheduled to list on the BSE SME platform on Monday, September 21, 2026. The cutoff time for UPI mandate confirmation is 5 PM on September 16, 2026.
Injecto Polymers IPO Timeline
| IPO Open Date | Fri, Sep 11, 2026 |
| IPO Close Date | Wed, Sep 16, 2026 |
| Basis of Allotment | Thu, Sep 17, 2026 |
| Initiation of Refunds | Fri, Sep 18, 2026 |
| Credit of Shares to Demat | Fri, Sep 18, 2026 |
| Listing Date | Mon, Sep 21, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Injecto Polymers IPO Details
| Detail | Description |
|---|---|
| IPO Date | 11 to 16 Sep, 2026 |
| Listing Date | 21 Sep, 2026 |
| Face Value | ₹ 10 Per Equity Share |
| Issue Price Band | ₹ 90 to ₹ 100 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Issue + Offer For Sale |
| Total Issue Size | 56,12,400 shares (agg. up to ₹ 56 Cr) |
| Reserved for Market Maker | 2,83,200 shares (agg. up to ₹ 3 Cr) |
| Fresh Issue(Ex Market Maker) | 53,29,200 shares (agg. up to ₹ 53 Cr) |
| Net Offered to Public | 53,29,200 shares (agg. up to ₹ 53 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,51,77,200 shares |
| Share Holding Post Issue | 2,07,89,600 shares |
Injecto Polymers IPO GMP
A “Grey Market Premium”, or GMP, refers to the unofficial premium at which IPO shares may trade in the unregulated grey market before listing on a stock exchange.
The Injecto Polymers IPO GMP is currently trading at ₹0, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹100.00, which is 0.00% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹100 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0 and a lot size of 1200 shares.
Injecto Polymers IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 08 Sep, 2026 | ₹100 | ₹0 | 08 Sep, 202611:04 AM |
Company Background
Injecto Polymers Limited was incorporated and is headquartered in Kolkata, West Bengal. The company manufactures packaging products and trades in plastic granules and PVC resins, operating primarily on a B2B model and supplying customised packaging solutions to industrial and institutional customers across various industries.
The company manufactures PP Woven Fabrics, Woven Bags and Sacks, BOPP Bags, FIBC Bags and HM/LD Liners, catering to agriculture, food, chemicals, construction and other industries. Injecto Polymers operates two manufacturing units in West Bengal, with a current installed capacity of 13,270 MT per annum, including the partial Phase III expansion. The proposed Phase IV expansion is expected to add 4,800 MT per annum, taking the total capacity to 18,070 MT per annum upon completion. Its operations are supported by an in-house testing facility and ISO 9001:2015, ISO 22000:2018 and BIS certifications.
In addition to manufacturing, the company procures and trades plastic granules and PVC resins, with a portion also used for captive consumption. As of July 31, 2026, the company had 158 employees, compared with 186 employees as of March 31, 2026.
Operations & Product Range
Injecto Polymers Limited manufactures and trades packaging products and polymer raw materials. Its principal product offerings include:
- PP Woven Fabrics: Woven fabric substrates used for packaging applications across agriculture, food and industrial sectors.
- Woven Bags and Sacks: Customised woven packaging solutions for bulk material handling and storage.
- BOPP Bags: Biaxially oriented polypropylene bags for premium packaging applications requiring high print quality and durability.
- FIBC Bags: Flexible intermediate bulk containers for large-volume industrial packaging and transportation.
- HM/LD Liners: High-density and low-density polyethene liners used as moisture barriers and protective inner layers in packaging.
- Trading Operations: Procurement and trading of plastic granules and PVC resins for external customers and captive consumption.
The company's integrated business model combines manufacturing and trading operations, allowing it to serve diverse industries including agriculture, food, chemicals and construction. Its operations are supported by ISO 9001:2015, ISO 22000:2018 and BIS certifications, along with an in-house testing facility.
Facilities & Capacity
Injecto Polymers' operating infrastructure is based on two manufacturing units in West Bengal. The company's current installed capacity, including the partial Phase III expansion, stands at 13,270 MT per annum across both units. The proposed Phase IV expansion is expected to add 4,800 MT per annum, taking the combined installed capacity to 18,070 MT per annum upon completion. Commercial production from the Phase IV expansion is expected to commence by April 2027.
The company's operations are supported by an in-house testing facility and quality certifications including ISO 9001:2015, ISO 22000:2018 and BIS. The company must maintain production efficiency, quality standards and raw material supply chains to serve its industrial and institutional customers across multiple sectors.
Brands & Market Presence
Injecto Polymers operates in the Indian polymer packaging market, focusing on B2B customers across agriculture, food, chemicals, construction and other industries. Its manufacturing and trading operations allow it to offer integrated packaging solutions and raw material supply to industrial customers.
The company's locational advantage of manufacturing units in West Bengal, combined with its quality certifications and diversified product portfolio, supports its market presence across eastern India and other regions. Its customer relationships and customisation capabilities are key operational strengths.
Revenue Streams & Business Model
Injecto Polymers Limited generates revenue principally from the sale of manufactured packaging products and trading of polymer raw materials. Its key revenue streams include:
- Sale of manufactured packaging products: Revenue from PP woven fabrics, woven bags and sacks, BOPP bags, FIBC bags and HM/LD liners.
- Trading of plastic granules and PVC resins: Revenue from procurement and resale of polymer raw materials to external customers.
- Captive consumption: Use of traded raw materials for internal manufacturing operations.
The business model relies on maintaining efficient manufacturing operations, quality standards and raw material supply chains to serve industrial and institutional customers. Revenue is affected by raw material prices, demand from key industries, competition in the polymer packaging market and the company's ability to maintain customer relationships and production capacity utilisation.
Financial Performance
Injecto Polymers Limited has reported strong financial growth over the last three completed financial years. Revenue from operations increased from ₹109.05 crore in FY2024 to ₹261.48 crore in FY2025 and ₹375.53 crore in FY2026, while profit after tax (PAT) rose from ₹4.44 crore to ₹8.11 crore and ₹16.01 crore, respectively.
The company's total borrowings increased from ₹83.35 crore in FY2024 to ₹101.11 crore in FY2025 and ₹165.19 crore in FY2026. The significant revenue and profit growth in FY2026 reflects the company's expanding manufacturing and trading operations, although investors should note the higher debt levels and dependence on trading margins.
Management & Shareholding
Injecto Polymers Limited is promoted by 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. The IPO is entirely a fresh issue; therefore, no existing shareholder will sell shares through an offer for sale.
Before the IPO, the promoters and promoter group hold 88.14% of the pre-issue equity share capital. Following the fresh issue of 56.12 lakh equity shares, their holding is expected to be diluted to approximately 61.70% of the post-issue equity share capital.
Board & Key Management
The leadership of Injecto Polymers Limited is led by Mr. Ramesh Kumar Rateria, Chairman & Managing Director and Mr. Ashok Kumar Rateria, Whole-Time Director. The Board is supported by Independent Directors Mr. Sushil Kumar Sultania, Mr. Chandan Sengupta and Ms. Anupma Kashyap, ensuring independent oversight and governance. The company’s key management also includes Mr. Ramavatar Kankani, Chief Financial Officer and Mr. Chaman Chhajer, Company Secretary & Compliance Officer. Together, the leadership team oversees the company’s operations, strategy and continued growth.
Injecto Polymers IPO Financial Information
Latest Revenue
₹ 261.48 Cr
Profit After Tax
₹ 8.11 Cr
Net Worth
₹ 47.33 Cr
Total Borrowing
₹ 101.11 Cr
| Period Ended | Assets | Revenue | Profit (PAT) | Net Worth | Reserves | Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 2025 | 170.57 | 261.48 | 8.11 | 47.33 | 32.15 | 101.11 |
| 31 Mar 2023 | 121.25 | 109.05 | 4.44 | 21.22 | 7.84 | 83.35 |
| 31 Mar 2022 | 107.21 | 96.25 | 2.07 | 17.60 | 5.87 | 63.51 |
| Amount in ₹ Crore | ||||||
Injecto Polymers Key Performance Indicator
| KPI | Values(31 Mar 2026) |
|---|---|
| ROE | 28.94 % |
| ROCE | 15.64 % |
| RoNW | 25.28 % |
| PAT Margin | 4.26 % |
| EBITDA Margin | 10.13 % |
| NAV | 41.73 |
| Price to Book Value | 2.40 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.34 | 3.90 |
| P/E (x) | 18.73 | 25.64 |
Injecto Polymers IPO Objectives
The company proposes to utilise the net proceeds from the fresh issue towards:
- ₹12.60 crore for repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company.
- ₹29.29 crore for funding capital expenditure towards setting up phase IV at its existing manufacturing facility, Unit-I, situated at NH2 Bypass Road, Jaugram, Abujhati, Jamalpur, West Bengal.
- General corporate purposes (balance of net proceeds).
The proposed use of funds indicates that Injecto Polymers intends to reduce its borrowings, expand its manufacturing capacity through capex at its Jaugram facility and retain flexibility for general corporate purposes.
Injecto Polymers IPO Review
Injecto Polymers operates in the polymer packaging segment, with a diversified product portfolio serving agriculture, food, chemicals, construction and other industries. The company's integrated business model combining manufacturing and trading operations, quality certifications (ISO 9001:2015, ISO 22000:2018, BIS) and an experienced management team are key operational strengths.
Its financial performance has improved significantly over FY2024–FY2026, with revenue from operations increasing from ₹109.05 crore to ₹375.53 crore and PAT rising from ₹4.44 crore to ₹16.01 crore. However, investors should assess the company's customer concentration risks, dependence on trading operations exposing it to margin fluctuations, high debt levels (₹165.19 crore as of FY2026) and liquidity risks associated with BSE SME shares.
Conclusion
The Injecto Polymers IPO offers investors exposure to a polymer packaging manufacturing and trading business with a diversified product portfolio and integrated operations. The company's quality certifications, locational advantage and experienced management team are key operational strengths. Its financial performance has improved significantly over FY2024–FY2026, with revenue from operations increasing from ₹109.05 crore to ₹375.53 crore and PAT rising from ₹4.44 crore to ₹16.01 crore.
That said, this is a BSE SME issue with a relatively high minimum retail investment of ₹2.40 lakh at the upper price band. Investors should evaluate the pricing, customer concentration risks, trading dependence, high debt levels and SME-market liquidity before investing.
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Competitive Strengths
Diversified product portfolio: PP woven fabrics, woven bags and sacks, BOPP bags, FIBC bags and HM/LD liners serving multiple industries.
Integrated business model: Combination of manufacturing and trading operations allowing flexibility in raw material supply and product offerings.
Quality certifications: ISO 9001:2015, ISO 22000:2018 and BIS certifications supported by an in-house testing facility.
Manufacturing capacity: Two manufacturing units in West Bengal with current installed capacity of 13,270 MT per annum, including the partial Phase III expansion, with a further 4,800 MT per annum proposed under Phase IV.
Experienced management: Promoters and senior management team with strong industry experience in polymer packaging.
Improving financial trend: Revenue from operations increased from ₹109.05 crore in FY2024 to ₹375.53 crore in FY2026, while PAT rose from ₹4.44 crore to ₹16.01 crore.
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IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | 2,40,000 |
| Individual investors (Retail) (Max) | 2 | 2,400 | 2,40,000 |
| S-HNI (Min) | 3 | 3,600 | 3,60,000 |
| S-HNI (Max) | 8 | 9,600 | 9,60,000 |
| B-HNI (Min) | 9 | 10,800 | 10,80,000 |