ST
Shree TNB Polymers Limited IPO
Piping Systems & Plastic Solutions · Polymer Manufacturing · Silvassa
📋 BSE SME IPO
Fresh Issue Only
BSE SME
₹52
Upper Price
₹31.20 Cr
Issue Size
Oct 5, 2026
Listing Date
₹79.79 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Friday, 25 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Tuesday, 29 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 30 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Thursday, 1 October 2026
Unallotted funds returned; shares credited to demat
🏷️
Monday, 5 October 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date25 September 2026 (Fri)
IPO Close Date29 September 2026 (Tue)
Listing Date5 October 2026 (Mon)
Face Value₹10 per share
Price Band₹47 to ₹52
Issue Price (Upper Band)₹52 per share
Issue TypeBook Build — Fresh Issue Only
Lot Size2,000 shares (Min App: 2 Lots / 4,000 Shares)
Total Issue Size60,00,000 shares (₹31.20 Cr)
Fresh Issue60,00,000 shares (₹31.20 Cr)
Offer for Sale (OFS)0 shares (₹0 Cr)
Market Maker Portion3,00,000 shares
Pre-Issue Shares1,53,44,997
Post-Issue Shares2,13,44,997
Promoter Holding (Pre)45.56%
Market Cap (Pre-IPO)₹79.79 Cr
Listing ExchangeBSE SME
Lead ManagerCorporate Makers Capital Ltd.
RegistrarMUFG Intime India Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹52| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 2 | 4,000 | ₹2,08,000 |
| Retail — Maximum | 2 | 4,000 | ₹2,08,000 |
| S-HNI (sNII) — Min | 3 | 6,000 | ₹3,12,000 |
| S-HNI (sNII) — Max | 9 | 18,000 | ₹9,36,000 |
| B-HNI (bNII) — Min | 10 | 20,000 | ₹10,40,000 |
⚠️ Note: Investors can bid for a minimum of 4,000 shares (2 lots) and in multiples of 2,000 shares thereafter. Market Maker reservation comprises 3,00,000 shares allotted to Asnani Stock Broker Pvt.Ltd.
👥 Investor Reservation
Allocated portion of Net Offer49.93% (28.46 L Sh)
QIB Portion
35.02% (19.96 L Sh)
Retail Portion
15.05% (8.58 L Sh)
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Standalone · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 145.26 | 127.38 | 105.03 |
| Total Income | 198.31 | 175.70 | 207.97 |
| PAT | 7.13 | 5.77 | 5.03 |
| EBITDA | 19.20 | 15.47 | 15.22 |
| Net Worth | 55.68 | 48.55 | 34.21 |
| Reserves & Surplus | 40.34 | 38.32 | 25.26 |
| Total Borrowing | 38.50 | 35.82 | – |
Income Growth
FY 2023–24₹207.97 Cr
FY 2024–25₹175.70 Cr
FY 2025–26₹198.31 Cr
🎯 Key Performance Indicators
13.69%
ROE
Mar 31, 2026
0.80
Debt/Equity
Mar 31, 2026
16.02%
ROCE
Mar 31, 2026
3.60%
PAT Margin
Mar 31, 2026
9.69%
EBITDA Margin
Mar 31, 2026
13.95%
RoNW
Mar 31, 2026
1.10x
Price/Book
Mar 31, 2026
36.29
NAV
Mar 31, 2026
⚖️ Valuation & EPS
Pre-IPO EPS
₹4.65
FY26 earnings + pre-issue shares
P/E: 11.18xPost-IPO EPS
₹3.34
FY26 earnings + post-issue shares
P/E: 15.57xPrice to Book Value
1.10x
At upper price band ₹52
Market Cap (Pre-IPO)
₹79.79 Cr
At issue price ₹52
ℹ️
Pre-IPO EPS (₹4.65) based on pre-issue shares (1,53,44,997) and FY26 restated PAT (₹7.13 Cr). Post-IPO EPS (₹3.34) accounts for the dilution resulting from the issuance of 60,00,000 fresh equity shares extending the total post-issue equity to 2,13,44,997 shares. Post-IPO Market Cap expands to ₹110.99 Cr at the upper issue price of ₹52.
🎯 Objects of the Issue
Net proceeds utilisation1
Capital Expenditure for purchase of machinery
₹15.86 Cr
2
Capital Expenditure for the purchase and installation of Solar panel/ Roof top
₹2.60 Cr
3
Part finances the capital expenditure for construction/ installation of Pre-Engineered Building (PEB) structure for new manufacturing facility
₹1.32 Cr
4
Repayment of certain borrowings
₹5.62 Cr
5
General Corporate Purpose
Balance
Total Fresh Issue Goal
₹31.20 Cr
🏢 About Shree TNB Polymers Ltd.
Est. 2007 · Silvassa · Polymer Manufacturing & Piping SystemsShree TNB Polymers Limited, established in 2007, is a Silvassa-based polymer manufacturing company specializing in a comprehensive range of piping systems and advanced plastic solutions. The enterprise addresses the critical infrastructure needs spanning irrigation, agriculture, potable water supply, sewerage, drainage, telecom cable protection, and industrial applications.
The product portfolio encompasses high-performance HDPE pipes and fittings, PP and PPH (Polypropylene Homopolymer) pipes, Double Wall Corrugated (DWC) pipes, integrated sprinkler and drip irrigation systems, and solid industrial sheets, including Well pack sheets for packaging. Operations are anchored by two state-of-the-art manufacturing facilities in Silvassa, covering 23,028 square meters with an installed capacity of 24,000 MT per annum. These units boast in-house testing laboratories and hold key BIS and ISO certifications. The company maintains an expansive footprint with a 325+ dealer/distributor network across India, while successfully exporting to the UAE, Sri Lanka, Oman, and Germany. As of July 31, 2026, the company supported 298 full-time employees and 39 contract personnel.
Brand Ecosystem
🚰
Infrastructure Piping
HDPE, PP, and PPH pipes targeting potable water supply, sewerage, drainage, and telecom cable protection.
🌱
Irrigation & Agriculture
Comprehensive sprinkler pipes and integrated drip irrigation systems empowering agricultural productivity.
🏭
Manufacturing Scale
Two facilities in Silvassa (23,028 sq. mtrs) producing 24,000 MT per annum, equipped with certified testing labs.
🌎
Distribution & Exports
Extensive pan-India network of 325+ dealers with strategic export lines to UAE, Sri Lanka, Oman, and Germany.
Competitive Strengths
🏆Diversified product portfolio serving critical applications across agriculture, infrastructure, and telecommunications.
📊High-capacity manufacturing operations spread across 23,028 sq. mtrs. with in-house BIS/ISO certified testing labs.
🌍Extensive distribution network of 325+ dealers enabling pan-India presence and international exports.
📈Consistent profitability marked by a 16.02% ROCE and improving EBITDA margins in FY26.
Company Promoters
VT
Vijay Jaysukhlal Thosani, Beena Vijay Thosani
Promoters, Shree TNB Polymers Ltd.
RB
Rasikbhai Bhalodi, Vipul Bhalodi, Hasmukhbhai Bhalodi & Family
Promoters, Shree TNB Polymers Ltd.
DR
Deepak Kumar Raura, Reeta Deepak Raura & Kishan Chandulal Patel
Promoters, Shree TNB Polymers Ltd.
📅 Key Dates
IPO Opens25 Sep 2026
IPO Closes29 Sep 2026
Allotment30 Sep 2026
Refund & Share Credit1 Oct 2026
Listing Day5 Oct 2026
💡 Quick Summary
Price Band₹47 – ₹52
Upper Price₹52 / share
Lot Size2,000 shares
Min. Investment (Retail)₹2,08,000 (2 Lots)
Issue Size₹31.20 Cr
ListingBSE SME
🏦 Registrar & Lead Manager
Lead Manager
Corporate Makers Capital Ltd.
📍 Registered Address
Shree TNB Polymers Ltd.
Sr. No. 132/1/1/4, Behind Prince Pipes,
Athalroad, Silvassa,
Dadra and Nagar Haveli and Daman and Diu — 396230
📞 +91- 9662602584
[email protected]
Sr. No. 132/1/1/4, Behind Prince Pipes,
Athalroad, Silvassa,
Dadra and Nagar Haveli and Daman and Diu — 396230
📞 +91- 9662602584
[email protected]
🛡️ Regulatory Note: SME IPO investments are subject to SEBI regulations and higher lot size restrictions. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
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Disclaimer: This page presents publicly available information from the Shree TNB Polymers IPO RHP for informational purposes only. This format is generated adhering to the required structure as specified in the IPO NEW FORMAT source file. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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