Shakti Polytarp IPO Analysis: Should You Apply? GMP, Review & Details

Shakti Polytarp is a SME IPO in the Packaging sector. The issue price band is ₹56.0–₹59.0 per share. Issue size is ₹26.93 crore. Current GMP is +16.95% over the issue price (unofficial, subject to change).

Shakti Polytarp IPO — Key Details

Company Overview

Shakti Polytarp Limited, established in March 2018, specializes in manufacturing tarpaulin and Shade Net. Its products cater to various sectors, including agriculture, construction, automotive, transportation, logistics, and consumer goods. The company operates a manufacturing facility in Khargone, Madhya Pradesh, covering 18,432 sq. meters. Shakti Polytarp follows a B2B model, supplying products to different industries, while also directly selling to consumers. The company emphasizes customization and design support for its clients.

Financial Performance

Total income increased from ₹62.23 Cr for the period ending 31 Mar 2024 to ₹166.50 Cr by 31 Mar 2025, and further rose to ₹216.10 Cr by 31 Mar 2026. This indicates a strong upward trend in revenue over the analyzed periods. Profit After Tax rose from ₹0.98 Cr in the period ending 31 Mar 2024 to ₹4.97 Cr by 31 Mar 2025, and further increased to ₹10.06 Cr by 31 Mar 2026. This consistent growth reflects an improving profitability trend.

Objects of the Issue

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: 1. Capital Expenditure: ₹20.88 Cr, 2. General Corporate Purposes: ₹2.54 Cr, 3. Issue Expenses: ₹3.50 Cr, totaling ₹26.93 Cr.

Strengths & Weaknesses

Strengths

Shakti Polytarp has a diverse range of product applications, an in-house manufacturing facility, and an experienced management team, which contribute to its competitive advantage.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) indicates the expected listing price of an IPO in the secondary market before it officially lists. A positive GMP suggests that investors expect the stock to list at a higher price than the issue price.

Subscription Status

The IPO was well-received, with total subscriptions of 11.87 times as of 17th September 2026. The QIB category saw a subscription of 49.22 times, while NII and Retail categories were subscribed 5.43 times and 4.12 times, respectively.

Peer Comparison

• Shree Tirupati Balajee Agro Trading Company Ltd: P/E 24.26
• Commercial Syn Bags Ltd: P/E 43.93
• Shakti Polytarp Ltd: P/E 7.38

IPO Timeline

The IPO opens for subscription on 15th September 2026 and closes on 17th September 2026. Allotment of shares will be done on 18th September 2026, and the listing is expected to occur on 22nd September 2026.

Should You Apply for Shakti Polytarp IPO?

Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance.

Investors who are risk-averse or prefer stable, established companies may want to avoid investing in IPOs, which can be more volatile and uncertain.

This is general risk-profile education, not a personal recommendation to apply or avoid this specific IPO — TopFund is not a SEBI-registered investment adviser.

Listing Day Risks

Listing gains are the potential profits made when an IPO lists at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions and investor sentiment on the listing day.

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Disclaimer: This is educational content, not investment advice. GMP is an unofficial grey-market indicator, unregulated and never guaranteed. TopFund is not a SEBI-registered investment adviser — please do your own research or consult a qualified adviser before applying to any IPO.