Shakti Polytarp IPO GMP, Date, Price Band & Review

Shakti Polytarp IPO Details

Shakti Polytarp IPO is a 100% book-built issue of ₹26.93 crore, entirely a fresh issue of 45.64 lakh shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on September 30, 2025.

The price band of the issue is set between ₹56 to ₹59 per share and the lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor is ₹2,36,000 (4,000 shares). The IPO will be open for subscription from Sep 15 to 17, 2026, on the BSE SME platform, with a tentative listing date fixed as Sep 22, 2026. NEXGEN Financial Solutions Private Limited is the book running lead manager, while Skyline Financial Services Private Limited is the registrar.

Shakti Polytarp IPO Date & Timeline

The Shakti Polytarp IPO is officially set to open for subscription on Sep 15, 2026 and will close on Sep 17, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 30, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Sep 18, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Sep 21, 2026. Finally, shares of Shakti Polytarp Ltd. are tentatively scheduled to list on the stock exchanges on Sep 22, 2026.

Shakti Polytarp IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Shakti Polytarp 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 ₹59, 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.

Company Background

Shakti Polytarp Limited was incorporated as a public limited company on March 22, 2018, under the Companies Act, 2013 and has its registered office in Indore, Madhya Pradesh. The company's present business is focused on manufacturing tarpaulins and other related plastic-based products.

The company operates from its manufacturing facility at Nimrani in Khargone district, Madhya Pradesh and has expanded its product range beyond conventional tarpaulins into shade nets, HDPE/PP tapes, woven fabrics and reprocessed plastic granules. Its flagship brand is Dinotarp.

Operations & Product Range

Shakti Polytarp Ltd.'s core business is the manufacture of tarpaulin and allied protective materials. Tarpaulin is a water-resistant material used to protect goods, equipment and other assets from weather exposure and is used across agriculture, construction and transportation. The company's portfolio also includes geotextiles, lumber wraps, house wraps, pond liners and green/shade nets.

The company produces HDPE/PP tapes, PP woven fabric, master batches, reprocessed plastic granules, and warp-knitted fabric for shade nets. It also sells traded granules for tarpaulin production. Its manufacturing process includes extrusion, weaving, and packaging, enabling various GSM grades, colours, and customised solutions for clients.

Facilities & Capacity

Shakti Polytarp Ltd.'s manufacturing facility is located in Madhya Pradesh. The property consists of leased industrial plots, with manufacturing activities covering tarpaulin sheets and shade nets. As of FY26, the company's reported installed capacity was 12,900 MTPA, while actual production was 6,277 MTPA, corresponding to an annualised utilisation figure of 48.66%. The company added a commissioned shade-net machinery with capacities of 1,500 MTPA and 3,000 MTPA tarpaulin machine during 2025 and 2026.

Brands & Market Presence

Shakti Polytarp Ltd. markets its products under the Dinotarp brand and serves applications across agriculture, construction, logistics, transportation, automotive, infrastructure and consumer goods. The company generates its operations as serving institutional and retail customers, while its geographic presence has expanded beyond Madhya Pradesh into states including Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu.

However, geographic diversification remains a factor to monitor; Madhya Pradesh accounted for 91.77% of revenue in FY26, compared with 95.35% in FY25. This indicates that the company's revenue remains substantially concentrated in its home state despite expansion into other markets.

Revenue Streams & Business Model

Shakti Polytarp Ltd. generates revenue primarily from manufacturing tarpaulins and related products, supplemented by the sale of traded raw-material granules. Its manufacturing portfolio includes tarpaulins, shade nets, HDPE/PP tapes, PP woven fabrics and other polymer-based products.

The business serves multiple end-use sectors, which include agriculture, construction, transportation and logistics. The company also provides product selection, design and customisation support based on customer requirements. Its raw materials are sourced domestically, primarily from refineries and chemical-industry companies, with HDPE and LDPE granules and fillers among the principal inputs.

Financial Performance

Shakti Polytarp has reported substantial growth in revenue and profitability over FY24–FY26. Revenue in FY26 increased from ₹166.24 crore in FY25 to ₹216.10 crore in FY25 and ₹215.65 crore in FY26. While EBITDA for FY26 was at ₹19.29 crore and total assets were at ₹110.12 crore. Based on the reported figures, PAT increased at an approximate 239.36% CAGR over the two-year period.

Management & Shareholding

The promoters of Shakti Polytarp are Ravi Singhal, Vivek Singhal, Trisha Singhal and Priyal Singhal. Before the IPO, the promoters hold a 90.9% stake in the company, but after the IPO, the promoters' shareholding will be down to 66.67%. This offering is entirely a fresh issue of 45.64 lakh shares, indicating that the existing shareholders will not loose any stake but their shareholding will be revised.

Board & Key Management

The company's board comprises Ravi Singhal as Executive Managing Director, Trisha Singhal as Executive Chairperson and Director, Vivek Singhal as Executive Director and Rajesh Gupta as Non-Executive Director. Ruchi Joshi Meratia and Kumari Priya Pandey are Independent Directors. Key management personnel include Manoj Kumar, Full-time Chief Financial Officer; Priyal Singhal, Full-time Chief Executive Officer; and Jitendra Kumar Gupta, Company Secretary and Compliance Officer.