Shree TNB Polymers IPO Subscription Update
Shree TNB Polymers IPO continued its bidding on October 2, 2026, with the issue now moving through its fifth day of subscription. The IPO opened on September 28 and will remain open until October 5.
The company is raising ₹31.20 crore through a fresh issue of 60 lakh shares. The price band is fixed at ₹47 to ₹52 per share, with a lot size of 2,000 shares. The shares are proposed to be listed on the BSE SME platform on October 8.
Shree TNB Polymers IPO Details
| Particular | Details |
|---|---|
| IPO Open Date | September 28, 2026 |
| IPO Close Date | October 5, 2026 |
| Price Band | ₹47 – ₹52 |
| Issue Size | ₹31.20 Cr |
| Issue Type | Fresh Issue |
| Total Shares | 60 Lakh |
| Lot Size | 2,000 Shares |
| Minimum Investment | ₹1,04,000 |
| Allotment Date | October 6, 2026 |
| Refund/Demat | October 7, 2026 |
| Listing Date | October 8, 2026 |
| Listing Platform | BSE SME |
| Registrar | MUFG Intime India |
The IPO is entirely a fresh issue, meaning the proceeds will go to Shree TNB Polymers for its planned expansion and other stated corporate requirements.
Shree TNB Polymers IPO GMP Today
The latest available GMP is ₹0 per share as of October 2, 2026. Earlier, the grey market premium was reported at ₹5 before the IPO opened, but no premium is currently being indicated.
At the upper price band of ₹52, a GMP of ₹0 indicates an unofficial grey-market indication around the issue price. GMP is not an official exchange figure and can change during the remaining subscription period.
| Particular | Latest Update |
|---|---|
| Price Band | ₹47 – ₹52 |
| GMP | ₹0 |
| GMP Status | No Premium |
| Latest Update | October 2, 2026 |
IPO Subscription Crosses 1x
The Shree TNB Polymers IPO recorded an overall subscription of approximately 1.05 times by October 2. The latest available category-wise figures show stronger participation from the NII segment, while QIB and retail portions remained below their respective offered quantities.
| Investor Category | Subscription |
|---|---|
| QIB | 0.75x |
| NII | 2.65x |
| Retail | 0.84x |
| Overall | 1.05x |
The subscription increased gradually from 0.29x on Day 1 to 1.05x by Day 4/5, with NII demand providing a major contribution to the increase.
What Does Shree TNB Polymers Do?
Shree TNB Polymers is a Silvassa-based polymer manufacturing company incorporated in 2007. The company manufactures piping systems and polymer-based products used across agriculture, infrastructure, water supply, drainage and industrial applications.
Its product portfolio includes HDPE, PP and PPH pipes and fittings, double-wall corrugated pipes, sprinkler and drip-irrigation systems, solid industrial sheets and PP corrugated/flute-board sheets.
The company operates two manufacturing facilities covering around 23,028 square metres, with installed capacity of approximately 24,000 metric tonnes per year. Its products are sold through a dealer network covering several Indian markets.
Shree TNB Polymers Financial Performance
The company reported revenue from operations of ₹198.13 crore in FY2026, compared with ₹175.65 crore in FY2025. Profit after tax increased to ₹7.13 crore from ₹5.77 crore during the same period.
| Particular | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | ₹207.86 Cr | ₹175.65 Cr | ₹198.13 Cr |
| PBT | ₹6.64 Cr | ₹7.21 Cr | ₹10.16 Cr |
| PAT | ₹5.03 Cr | ₹5.77 Cr | ₹7.13 Cr |
| Net Worth | ₹34.21 Cr | ₹48.55 Cr | ₹55.68 Cr |
| Debt | ₹35.82 Cr | ₹38.50 Cr | ₹44.56 Cr |
The FY2026 numbers show improvement in profit compared with FY2025, although the company continues to operate with borrowings and a relatively modest PAT margin.
Where Will the IPO Funds Be Used?
The company plans to use the IPO proceeds for a combination of capacity expansion, new machinery, solar infrastructure, debt repayment and general corporate purposes.
| Particular | Amount |
|---|---|
| Machinery Purchase | ₹15.86 Cr |
| Debt Repayment | ₹5.62 Cr |
| Solar Panel / Rooftop | ₹2.60 Cr |
| PEB Structure | ₹1.32 Cr |
| General Corporate Purposes | Balance |
The proposed machinery investment is intended to expand manufacturing capabilities, while the solar installation and new pre-engineered building are part of the company's planned manufacturing expansion.
Shree TNB Polymers IPO Timeline
The IPO opened on September 28 and is scheduled to close on October 5, 2026. The basis of allotment is expected on October 6, refunds and demat credit are scheduled for October 7, and the proposed listing date is October 8.
With the subscription now around the 1x level and GMP at ₹0, the final bidding response on October 5 will be the next important update for the issue.
Note: IPO GMP is an unofficial grey-market indicator and can change at any time. It should not be treated as a guaranteed listing price. Investors should also consider the company's financial performance, debt, business model, valuation and risk factors.
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