Shakti Polytarp IPO: ₹26.93 Crore SME Issue Opens with 0.11x Subscription as GMP Remains at ₹0

Shakti Polytarp IPO Opens for Subscription

Shakti Polytarp Limited has entered the SME IPO market with its public issue opening today, September 15, 2026. The company is looking to raise around ₹26.93 crore through a fresh issue of equity shares.

The IPO has a price band of ₹56 to ₹59 per share and will remain open until September 17. The shares are scheduled to list on the NSE SME platform on September 22, 2026.

Shakti Polytarp is one of three SME IPOs opening on September 15, alongside Vama Wovenfab and Quanto Agroworld.

Shakti Polytarp IPO Details

The issue comprises 45.64 lakh equity shares. At the upper price of ₹59, one lot of 4,000 shares requires ₹2.36 lakh. Because one lot itself is above the ₹2 lakh retail application limit, the issue falls into the non-institutional/HNI category for such applications.

What Does Shakti Polytarp Do?

Shakti Polytarp operates in the woven packaging and plastic products industry. The company manufactures products made from woven polymer materials that are used for packaging and industrial applications.

Its business is connected to demand from sectors that require durable and cost-effective packaging materials. The company manufactures and supplies woven products to customers while focusing on improving its production capabilities and market reach.

The business is therefore exposed to the broader demand for industrial and agricultural packaging, where product quality, raw-material costs and production efficiency play an important role.

Shakti Polytarp Financial Performance

The company has recorded strong revenue growth in recent years. According to available financial data, net sales increased from ₹62.01 crore in FY2024 to ₹166.24 crore in FY2025 and ₹215.65 crore in FY2026.

The sharp increase in sales between FY2024 and FY2026 shows significant expansion in the company's business. Operating profit also increased during the same period, although higher interest expenses are an area investors should continue to monitor.

How Will Shakti Polytarp Use IPO Funds?

The IPO is entirely a fresh issue, meaning the funds raised will go to the company rather than existing shareholders.

The fresh capital is expected to support the company's business requirements and expansion plans. Additional funds can help strengthen production capabilities, working capital and the company's overall financial position.

For a manufacturing business, efficient deployment of the IPO proceeds will be important because higher production and sales volumes generally require additional investment in inventory, receivables and operating capacity.

Shakti Polytarp IPO Subscription Status

The IPO opened on September 15, and the initial response has been relatively cautious. As of 10:48 AM on the opening day, the issue was around 0.11x subscribed overall.

The non-institutional category had received about 0.24x subscription, while the retail portion was around 0.02x at that time. QIB demand had not yet been reported in the available live data.

Since the IPO remains open until September 17, these figures can change considerably during the remaining bidding sessions. The final subscription number will give a clearer indication of investor demand.

Shakti Polytarp IPO GMP Today

The latest available GMP trackers currently show Shakti Polytarp IPO GMP at ₹0. IPO Premium also reports ₹0, while other trackers have not reported a current premium reading.

At a GMP of ₹0, the unofficial implied listing price would remain around the upper IPO price of ₹59.

A zero GMP indicates that the grey market is currently not assigning an additional premium to the issue. However, GMP can change during the subscription period and is not an official indication of the listing price.

Key Strengths

One of the major positives for Shakti Polytarp is the strong growth in revenue over the last few financial years. Sales increased substantially between FY2024 and FY2026, while operating profit also improved.

The company's exposure to the woven packaging segment gives it access to industrial and agricultural applications where demand for packaging materials can remain steady.

The IPO is also completely fresh, allowing the company to directly receive the capital raised for its business and expansion requirements.

Risks Investors Should Watch

Shakti Polytarp operates in a manufacturing segment where raw-material prices can significantly affect margins. Changes in polymer and other input costs could therefore influence profitability.

The business also requires effective working-capital management. Rising sales can increase inventory and receivables, which may place additional pressure on cash flows.

The company is coming to the SME market, where post-listing liquidity can be lower and share-price movements can be more volatile than those of mainboard companies.

Investors should therefore look beyond the current IPO price and GMP and examine the company's financial performance, cash flows, valuation and business risks.

Shakti Polytarp IPO: What Happens Next?

The IPO will remain open until September 17, 2026. The tentative allotment date is September 18, followed by refund or fund-unblocking and demat credit processes. The shares are scheduled to list on September 22, 2026 on NSE SME.

Shakti Polytarp IPO has entered the market with a ₹26.93 crore fresh issue, strong recent sales growth and a price band of ₹56–₹59. However, the opening-day subscription remains modest and the current ₹0 GMP suggests that grey-market sentiment has yet to turn positive.

The next two days of bidding will be important in determining whether investor demand strengthens before the issue closes.

Note: GMP is based on unofficial grey-market activity and can change at any time. Investors should evaluate the company's financials, valuation, business risks and official IPO documents before making an investment decision.