About S.K.Offset IPO
S.K. Offset IPO Details
S.K. Offset IPO is a 100% book-built issue of ₹29.06 crore, entirely a fresh issue of shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on June 16, 2026.
The price band of the issue is set at ₹119 and ₹125 per share and the lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor is ₹2,50,000 (2,000 shares). The IPO will be open for subscription from Sep 23 to 25, 2026, on the BSE SME platform, with a tentative listing date fixed as Sep 30, 2026. The book-running lead manager of the issue is Comfort Securities Limited and the registrar to the issue is Maashitla Securities Pvt. Limited.
S.K. Offset IPO Date & Timeline
The S. K. Offset IPO is officially set to open for subscription on Sep 23, 2026 and will close on Sep 25, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on June 16, 2026 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Sep 28, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Sep 29, 2026. Finally, shares of S. K. Offset Ltd. is tentatively scheduled to list on the stock exchanges on Sep 30, 2026.
S.K.Offset IPO Timeline
| IPO Open Date | Wed, Sep 23, 2026 |
| IPO Close Date | Fri, Sep 25, 2026 |
| Basis of Allotment | Mon, Sep 28, 2026 |
| Initiation of Refunds | Tue, Sep 29, 2026 |
| Credit of Shares to Demat | Tue, Sep 29, 2026 |
| Listing Date | Wed, Sep 30, 2026 |
S.K.Offset IPO Details
| Detail | Description |
|---|---|
| IPO Date | 23 to 25 Sep, 2026 |
| Listing Date | 30 Sep, 2026 |
| Face Value | ₹ 10 Per Equity Share |
| Issue Price Band | ₹ 119 to ₹ 125 |
| Lot Size | 1,000 Shares |
| IPO Type | Fresh capital only |
| Total Issue Size | 23,25,000 shares (agg. up to ₹ 29 Cr) |
| Reserved for Market Maker | 1,20,000 shares (agg. up to ₹ 2 Cr) SMC Global Securities Ltd. |
| Fresh Issue(Ex Market Maker) | 22,05,000 shares (agg. up to ₹ 28 Cr) |
| Net Offered to Public | 22,05,000 shares (agg. up to ₹ 28 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 54,18,320 shares |
| Share Holding Post Issue | 77,43,320 shares |
S.K.Offset 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 S.K.Offset 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 ₹125, 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 ₹125 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0 and a lot size of 1000 shares.
S.K.Offset IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 21 Sep 2026 | ₹125 | ₹0 | 21 Sep, 202611:20 AM |
| 20 Sep 2026 | ₹125 | ₹0 | 20 Sep, 202611:20 AM |
| 19 Sep 2026 | ₹125 | ₹0 | 19 Sep, 202611:20 AM |
| 18 Sep 2026 | ₹125 | ₹0 | 18 Sep, 202611:20 AM |
| 17 Sep 2026 | ₹125 | ₹0 | 17 Sep, 202611:20 AM |
| 16 Sep 2026 | ₹125 | ₹0 | 16 Sep, 202611:20 AM |
| 15 Sep 2026 | ₹125 | ₹0 | 15 Sep, 202611:20 AM |
| 14 Sep, 2026 | ₹125 | ₹0 | 14 Sep, 202611:54 AM |
Company Background
S.K. Offset Ltd. was incorporated on February 2, 2007 as S.K. Offset Private Limited under the Companies Act, 1956. In 2007, the company acquired the business of the partnership firm S. K. Offset Printers and the proprietorship concern S.K. Printer & Publisher. In 2024, it also took over the business of Pixel, Print and Pack through a Business Transfer Agreement.
The company operates in printing and packaging. Its business has expanded from conventional offset printing into labelling and in-house packaging solutions, with investments in machinery, technology and process capabilities. It currently operates mainly from four facilities in Meerut with an aggregate covered area of approximately 38,313 sq. ft.
Then, in August 2025, the company was converted into a public limited company, with its registered office located at Sports Complex Enclave, Delhi Road, Meerut, Uttar Pradesh.
Operations & Product Range
S.K. Offset Ltd. operates as an integrated printing and packaging solutions provider. Its product portfolio includes offset-printed books, mono cartons, labels and master cartons, along with printing, designing, graphics, lithography and publication services. Its publishing-related products include general books, technical books, children's books, textbooks, magazines and journals.
The packaging business includes cartons, boxes and other customised formats used for storage, transportation, display and branding. Its labelling portfolio includes labels, stickers, barcodes, posters and roll adhesive labels, with products supplied to industries such as FMCG, pharmaceuticals, food & beverages, cosmetics and other consumer-facing sectors. The company also undertakes trading, importing and exporting of printing and packaging-related materials such as paper, paperboard, foils and ink.
Facilities & Capacity
S.K. Offset Ltd. operates 4 facilities in Meerut, supported by printing, packaging and labelling infrastructure. Its printing unit had installed an annual capacity of 13.14 lakh reams in FY26 and utilised 11.95 lakh reams, representing 90.92% utilisation.
The packaging unit had an installed capacity of 82.13 lakh cartons per year in FY26 and produced 73.07 lakh cartons, resulting in 88.97% capacity utilisation. The labelling unit had an annual installed capacity of 30,000 sq. metres and utilisation of 19,510 sq. metres, or 65.03%, in FY26.
The company's infrastructure includes Heidelberg and Ryobi offset presses, flexographic presses, die-cutting, lamination, coating, binding, folding and finishing equipment. Its manufacturing facilities have a connected electrical load of approximately 1,100 kVA, supported by backup power systems.
Brands & Market Presence
S.K. Offset Ltd. operates under its corporate identity and has a market presence built around customised printing, packaging and labelling solutions supplied to corporate customers across publishing, FMCG, pharmaceuticals, cosmetics, food and beverages and other sectors. In FY26, North India accounted for 84.35% of revenue, followed by West and Central India at 13.32%. East India, South India and exports accounted for 0.33%, 0.16% and 1.84%, respectively. The company has obtained ISO certifications, along with FSC and SEDEX compliance certifications disclosed for 2025.
Revenue Streams & Business Model
S.K. Offset generates revenue primarily from the sale of printing, packaging and labelling products and related services. Its B2B customer base includes companies operating in FMCG, pharmaceuticals, cosmetics, food and beverages and publishing. The company executes orders based on customer-specific specifications, pricing, delivery requirements and product designs.
The company follows a B2B-oriented model, with 98.73% of FY26 sales coming from B2B customers. B2C sales accounted for around 1.27% in FY26. The business has also diversified across product categories, moving beyond traditional printing into packaging and labels. This integrated model allows the company to handle design, pre-press, printing, finishing, packaging and delivery internally.
Financial Performance
In FY26, S.K. Offset Ltd. demonstrated strong financial growth, reporting total income of ₹67 crore—a 37.7% increase year-over-year from ₹48.65 crore in FY25. Operational profitability improved sharply, with EBITDA rising 152.3% to ₹14.18 crore, resulting in an EBITDA margin of 21.16%. Profit after tax (PAT) surged nearly fourfold to ₹7.48 crore compared to ₹1.54 crore in the preceding fiscal year. This overall top-line and bottom-line expansion expanded the company's net worth to ₹19.78 crore.
Management & Shareholding
The promoters of S. K. Offset are Pradeep Agarwal, Priyanshu Agarwal and Ayush Agarwal. Before the IPO, promoters held 100% stake in the company, showing 54,18,320 shares, but after the IPO, the promoters shareholding will be slightly diluted and will down to 69.97%, as the offering include fresh issue of 22,05,000 shares, worth up to ₹28 crore.
Board & Key Management
The leadership of S.K. Offset Ltd. is led by a team of experts with many years of experience. Mr. Pradeep Agarwal serves as the Chairman & Managing Director and gives strategic direction to the firm, as well as managing the daily operations, along with Whole-Time Directors Mr. Priyanshu Agarwal and Mr. Ayush Agarwal. To ensure good governance, the board includes Independent Directors Ms. Anuradha Singh, Mr. Tanishq Gakhar and Mr. Bhanu Pratap Singh for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
S.K.Offset IPO Financial Information
Latest Revenue
₹ 66.67 Cr
Profit After Tax
₹ 7.48 Cr
Net Worth
₹ 19.78 Cr
Total Borrowing
₹ 34.58 Cr
| Period Ended | Assets | Revenue | Profit (PAT) | Net Worth | Reserves | Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 2026 | 81.76 | 66.67 | 7.48 | 19.78 | 14.36 | 34.58 |
| 31 Mar 2025 | 55.77 | 48.20 | 1.54 | 7.20 | 5.95 | 32.35 |
| 31 Mar 2024 | 28.85 | 21.53 | 0.72 | 4.58 | 3.58 | — |
| Amount in ₹ Crore | ||||||
S.K.Offset Key Performance Indicator
| KPI | Values(31 Mar 2026) |
|---|---|
| ROE | 37.82 % |
| ROCE | 22.91 % |
| Debt/Equity | 1.75 |
| RoNW | 37.82 % |
| PAT Margin | 11.22 % |
| EBITDA Margin | 21.27 % |
| Price to Book Value | 3.42 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.80 | 9.66 |
| P/E (x) | 9.06 | 12.94 |
S.K. Offset IPO Objectives
S.K. Offset Ltd. intended to utilise its IPO proceeds for the following strategic purposes:
- • Funding the capital expenditure towards purchase of Plant & Machinery at Meerut
- • Funding the working capital requirements
- • General corporate purposes
S.K. Offset IPO Review
The S. K. Offset Ltd. is a printing and packaging business that has expanded from conventional offset printing into packaging and labelling. Its product range spans books, cartons, labels and other printed products, while its customer base covers several end-use industries. The company also has an integrated operating structure covering design, printing, finishing and dispatch.
The financial performance of the company shows substantial growth between FY24 and FY26, with revenue rising from ₹21.53 crore to ₹66.67 crore and PAT increasing from ₹0.72 crore to ₹7.48 crore. At the operating level, the printing and packaging units reported utilisation of more than 88% in FY26, while the labelling unit operated at 65.03% utilisation.
However, at the same time, the business has significant working-capital requirements like finance, raw materials and trade receivables and notes that the company may continue to rely on debt for working-capital requirements. Raw-material prices, order delays or cancellations and customer payment cycles can therefore affect cash flows and profitability. Customer and geographic concentration are additional factors for the company to monitor, as North India contributed 84.35% of FY26 revenue, while exports accounted for only 1.84%.
Overall, the IPO shows that the printing and packaging industry is also described as highly competitive and fragmented, with pricing, quality, customisation, delivery and customer relationships influencing competition. So, investors need to be aware of the company’s final prospectus as these factors should be considered alongside the company's financials, risk factors and final offer document.
Conclusion
S.K. Offset IPO is a chance to invest in a printing and packaging company that has expanded from offset printing into packaging and labelling, supported by multiple manufacturing facilities, specialised machinery and an integrated production structure. For investors assessing the S.K. Offset IPO, customer concentration, regional dependence, working-capital intensity, raw-material costs, competition and the eventual IPO valuation will remain important factors to evaluate. Meanwhile, the company intended to utilise proceeds for the issue into its purchase of Plant & Machinery for its Meerut branch and to fulfil its capital requirements of daily operations.
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Competitive Strengths
Integrated printing, packaging and labelling capabilities across multiple product categories.
In-house control over design, pre-press, printing, finishing, packaging and dispatch.
Four facilities in Meerut with approximately 38,313 sq. ft. of aggregate covered area.
Customer base spanning publishing, FMCG, pharmaceuticals, cosmetics, food and beverages and other sectors.
ISO 9001, ISO 14001, ISO 45001 and ISO 50001 certifications, along with FSC and SEDEX compliance certifications.
Established relationships with customers and suppliers and a stated focus on geographic and customer diversification.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | 2,50,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | 2,50,000 |
| S-HNI (Min) | 3 | 3,000 | 3,75,000 |
| S-HNI (Max) | 8 | 8,000 | 10,00,000 |
| B-HNI (Min) | 9 | 9,000 | 11,25,000 |