Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
Shree TNB Polymers IPO
Price Band
₹50.0–53.0
Issue Size
₹31.8 Cr
Lot Size
2,000 shares
Min Investment
₹212,000
2 LOTS MIN
GMP
—
Issue Price
₹53.0
Shree TNB Polymers IPO AI Summary
- Shree TNB Polymers IPO is open now on BSE SME in the Plastic Products - Industrial sector.
- Price band: ₹50.0–₹53.0 per share, lot size 2,000 shares (min. investment ₹212,000, 2 lots minimum).
- Subscription window: 28 Sep–05 Oct 2026, listing on 08 Oct 2026.
Shree TNB Polymers Limited is an upcoming IPO in the plastic products sector, focusing on manufacturing polymer piping systems. The company shows a recovery in revenue and consistent profit growth, with plans for capital expenditure and debt repayment funded by the IPO proceeds. Investors should consider their risk appetite and market conditions before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
LIVE · updates every 5 minIPO is live — subscription open
Data auto-updates every 5 minutes
Shree TNB Polymers IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
TopFund Score — Listing Data Indicator
GMP is 0.0% above issue price
Subscription not open yet
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 4.3% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
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 (₹ Cr)
As of 2026-03-31
| 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 |
Key Ratios
EPS
₹4.65
NAV
₹36.29
ROE
13.69%
ROCE
16.02%
RoNW
13.95%
P/B Value
1.46
P/E Ratio
11.4
Market Cap
₹113.13 Cr
PAT Margin
3.60%
Debt/Equity
0.80
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Malpani Pipes & Fittings Ltd. | 51.67 | 17.65% | 7.7 | 8.38 |
| Texmo Pipes & Products Ltd. | 77.19 | 5.13% | 15.69 | 3.86 |
| Captain Pipes Ltd. | 2.78 | 7.15% | 40.37 | 0.19 |
| Shree TNB Polymers Ltd. This IPO | 36.29 | 13.69% | — | 4.65 |
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, Jalpaben Hasmukhbhai Bhalodi
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # 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
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹207.97 Cr in the year ending 31 Mar 2024, which decreased to ₹175.70 Cr by 31 Mar 2025, before rising again to ₹198.31 Cr in the year ending 31 Mar 2026. This indicates a recovery in revenue after a dip in the previous fiscal year.
Profit Trend
Profit After Tax was ₹5.03 Cr in the year ending 31 Mar 2024, increasing to ₹5.77 Cr by 31 Mar 2025, and further rising to ₹7.13 Cr in the year ending 31 Mar 2026. This shows a consistent growth in profitability over the periods analyzed.
Valuation
Priced at roughly 11.4 times trailing earnings, versus peers trading at P/E ratios ranging from 7.7 to 40.37.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. It reflects the demand and supply dynamics for the IPO shares and can indicate the expected listing price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's fundamentals, market conditions, and potential for growth.
Who May Want to Wait
Investors with a low risk tolerance or those seeking immediate returns may want to consider avoiding IPOs, as they can be subject to significant price fluctuations in the early days of trading.
IPO Timeline, Explained
The IPO opens for subscription on 28 September 2026 and closes on 5 October 2026. Allotment of shares is expected to be finalized by 6 October 2026, with shares listing on the stock exchange scheduled for 8 October 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market sentiment, demand for the shares, and overall market conditions. Investors should be prepared for the possibility of price volatility on the listing day.
This evaluation is generated from Shree TNB Polymers's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Shree TNB Polymers IPO?
The price band of Shree TNB Polymers IPO is ₹50.0–₹53.0 per share.
When does Shree TNB Polymers IPO open and close?
Shree TNB Polymers IPO opens on 28 September 2026 and closes on 05 October 2026.
When does Shree TNB Polymers IPO list on the stock exchange?
Shree TNB Polymers IPO is scheduled to list on 08 October 2026, with an estimated listing price of ₹53.0 based on current GMP.
What is the lot size for Shree TNB Polymers IPO?
The lot size for Shree TNB Polymers IPO is 2000 shares, requiring a minimum investment of ₹212,000 (2 lots).
What is the TopFund Listing Data Indicator for Shree TNB Polymers?
Shree TNB Polymers's Listing Data Indicator score is 27/100 (Low signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the IPO?
The price band for the IPO is ₹50.0 to ₹53.0.
What is the minimum investment required?
The minimum investment required is ₹2,12,000, based on a lot size of 2000 shares at the issue price.
When does the IPO open and close?
The IPO opens on 28 September 2026 and closes on 5 October 2026.
When will the shares be listed?
The shares are expected to be listed on 8 October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected demand for the shares before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
28 Sep 2026
Close
05 Oct 2026
Allotment
06 Oct 2026
Listing
08 Oct 2026
Similar IPOs in Plastic Products - Industrial
Plan Your IPO Investment
Related Articles
Full Analysis
Should you apply? Company analysis, GMP explained & FAQs
Community Sentiment
What are other investors planning for Shree TNB Polymers?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.