Injecto Polymers IPO: Latest Update
Injecto Polymers Limited is currently in the middle of its SME IPO subscription period. The public issue opened on September 11 and will remain open until September 16, 2026.
The company is looking to raise around ₹56.12 crore through a fresh issue. The price band has been fixed at ₹90 to ₹100 per share, and the shares are proposed to be listed on the BSE SME platform. The tentative listing date is September 21, 2026.
Investor participation has so far been relatively subdued. The latest available subscription tracker showed the IPO at around 0.28 times subscribed as of September 14, with QIB demand at about 1.02x, while retail and NII participation remained below the offered quantity.
Injecto Polymers IPO Details
| Particular | Details |
|---|---|
| IPO Open Date | 11 Sep 2026 |
| IPO Close Date | 16 Sep 2026 |
| Price Band | ₹90–₹100 |
| Issue Size | ₹56.12 Crore |
| Issue Type | Fresh Issue |
| Lot Size | 1,200 Shares |
| Retail Minimum | ₹1.20 Lakh |
| Retail Application | 2,400 Shares |
| Listing Exchange | BSE SME |
| Allotment Date | 17 Sep 2026 |
| Listing Date | 21 Sep 2026 |
| Latest GMP | ₹0 |
The IPO consists of approximately 56.12 lakh shares. At the upper price band of ₹100, one lot of 1,200 shares represents ₹1.20 lakh, while the maximum retail application is 2,400 shares.
What Does Injecto Polymers Do?
Injecto Polymers operates in the plastic and polymer packaging segment. The company provides customised packaging solutions used by customers across industries including agriculture, food, chemicals and construction.
Its product portfolio is focused on polymer-based packaging applications designed for industrial and commercial requirements. The business has manufacturing operations in West Bengal and serves customers across different end-use industries.
The company reported an average manufacturing production volume of approximately 10,358 MT in FY2026 and had 158 permanent employees as of July 31, 2026. More than 85% of its FY2026 revenue came from West Bengal, highlighting the importance of its home market.
Injecto Polymers Financial Performance
The company has reported strong growth in revenue over the last few years. Revenue from operations increased from approximately ₹109.05 crore in FY2024 to ₹375.53 crore in FY2026. PAT also increased from around ₹4.44 crore during FY2024, according to IPO research data.
| Particular | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | ₹109.05 Cr | ₹261.48 Cr | ₹375.53 Cr |
| PAT | ₹4.44 Cr | — | — |
The sharp increase in revenue indicates significant business expansion, although investors should also examine margins, working capital requirements and cash-flow performance rather than relying only on topline growth.
Use of IPO Funds
The ₹56.12 crore fresh issue is intended to support the company's expansion and financial requirements.
A portion of the proceeds is planned for repayment of debt, while funds will also be used for the development of Phase IV at the company's Jaugram manufacturing facility. The remaining amount is intended for general corporate purposes.
Investment in the existing facility could help the company increase production capacity and support future demand from its packaging customers.
Injecto Polymers IPO Subscription Status
The IPO has received a cautious response during the initial part of its bidding period. The issue was subscribed around 0.29x on Day 1, with QIB subscription reaching 1.02x while retail and NII demand remained below the available quota.
By September 14, the overall subscription was reported at around 0.28x, according to live subscription data. The final subscription figure could change significantly on the closing day as investors place bids before the issue closes.
Injecto Polymers IPO GMP Today
The latest available grey-market data shows Injecto Polymers IPO GMP at ₹0. This means there is currently no reported premium over the IPO's upper price band of ₹100.
With a GMP of ₹0, the unofficial implied listing price would remain around ₹100. However, GMP is not an official exchange indicator and can change before listing. A zero GMP also does not necessarily mean the stock will list exactly at the issue price.
Key Strengths
Injecto Polymers has benefited from strong revenue growth and operates in the industrial packaging segment, which serves several end-use industries.
The IPO also provides capital for capacity expansion at its Jaugram facility while allowing the company to reduce part of its debt. If the additional capacity is utilised effectively, it could support further growth in production and revenue.
Risks Investors Should Watch
One important risk is the company's geographic concentration. More than 85% of FY2026 revenue originated from West Bengal, making the business relatively dependent on one major market.
The packaging industry is also exposed to fluctuations in polymer and other raw-material prices. Changes in customer demand, competition, working-capital requirements and capacity utilisation could affect profitability.
As an SME IPO, Injecto Polymers may also experience lower liquidity and higher share-price volatility after listing compared with larger mainboard companies.
Injecto Polymers IPO: What Happens Next?
The IPO will remain open until September 16, 2026. The tentative allotment date is September 17, followed by refund or fund-unblocking and demat credit on September 18. The shares are expected to begin trading around September 21, subject to the final exchange schedule.
Injecto Polymers IPO combines strong recent revenue growth with a plan to expand manufacturing capacity and reduce debt. However, the currently muted subscription response and ₹0 GMP suggest that market sentiment remains cautious. Investors will be watching the final-day bidding, GMP movement and allotment demand closely.
Note: GMP is based on unofficial grey-market activity and can change before listing. Investors should evaluate the company's financials, valuation, business risks and official IPO documents before making an investment decision.
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