Atharva Poly-Plast IPO
Atharva Poly-Plast LtdSME
This IPO has listed.
- Open date
- 30 Jun 2026
- Close date
- 2 Jul 2026
- Min. Investment
- ₹2,40,000
- Lot Size
- -
- Fresh Issue
- ₹27.00 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers3.58x
- Non-Institutional Investors14.29x
- Retail-Individual Investors11.30x
- Total10.06x
Schedule
- Completed: IPO open date30 Jun 2026
- Completed: IPO close date2 Jul 2026
- Completed: Allotment date3 Jul 2026
- Completed: Funds unblock or debit3 Jul 2026
- Completed: Tentative listing date7 Jul 2026
About
Promoter shareholding in Atharva Poly-Plast Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Anujit Shivaji Darade | 95,63,302 | 77.44% | 95,63,302 | 56.76% |
| Shivaji Kisan Darade | 23,40,823 | 18.95% | 23,40,823 | 13.89% |
| Ashish Shivaji Darade | 2,22,935 | 1.80% | 2,22,935 | 1.32% |
| Sadhana Shivaji Darade | 2,22,935 | 1.80% | 2,22,935 | 1.32% |
| Smita Anujit Darade | 1 | 0.00% | 1 | 0.00% |
| Pushpalata Devidas Ghuge | 1 | 0.00% | 1 | 0.00% |
| Swati Ashish Darade | 1 | 0.00% | 1 | 0.00% |
Atharva Poly-Plast IPO Strengths & Risks
- Product Spectrum & Portfolio.
- Strong Promoters and Board of Directors.
- Experienced and Skilled Execution Team.
- Ensuring Satisfactory Customer Experience through high quality products.
- Risks Relating to the Business: The company is highly dependent on certain key customers for a substantial portion of its revenues. Loss of relationship with any of these customers may has a material adverse effect on the company profitability and results of operations.
- Risks Relating to the Business: The Company is dependent on a few suppliers for purchases of raw materials. The loss of any of these suppliers may affect its business operations.
- Risks Relating to the Business: The company requires certain approvals and licenses in the ordinary course of business and the failures to successfully obtain/renew such registrations would adversely affect its operations, results of operations and financial condition.
- Risks Relating to the Business: The company has experienced negative cash flows in relation to its investing activities and financing activities for the Fiscal Year 2025, 2024 and 2023 and the Stub period. Any negative cash flows in the future would adversely affect the company results of operations and financial condition.
- Risks Relating to the Business: The Company generates majority of its revenue from manufacturing i.e. by way of injection moulding. If the company customers does not continue to outsource manufacturing, or if there is a downward trend in OEM business, its sales could be adversely affected.
- Risks Relating to the Business: Any increase in the cost of the company raw material or a shortfall in the supply of its raw materials including volatility in the pricing and availability of polymer-based raw materials, may adversely affect the pricing and supply of the company products and has an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company business requires significant working capital, and any inability to secure adequate funding or delays in collections could adversely affect its operations, profitability and financial condition.
- Risks Relating to the Business: The company significant revenue is generated from operations in the state of Maharashtra. Any disruption in these operations, whether dues to regulatory changes, economic conditions, or unforeseen events in the said state, could significantly impact its financial performance and future prospects.
- Risks Relating to the Business: Possible implications of timing of redemption and allotment of debentures under the Master Business Separation and Shareholders Agreement.
- Risks Relating to the Business: Instances of Non-Compliance with Regulatory Requirements and Clerical Errors Could Subject the company to Regulatory Action and Penalties.
- Risks Relating to the Business: The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Risks Relating to the Business: The company is heavily dependent on its Promoters, Key Managerial Personnel and Senior Management for the continued success of the company business through their continuing services and strategic guidance and support.
- Risks Relating to the Business: The Company has previously restructured its loans, and the company cannot assure you that its will not restructure loans again in the future.
- Risks Relating to the Business: The company manufacturing facility is critical to its business. Any disruption in the continuous operations of the company manufacturing facility would has a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company business may be adversely affected if its isunable to maintain and grow the company brand image.
- Risks Relating to the Business: The company has unsecured loans, which may be recalled at any time. Any recall of such loans may has an adverse effect on its business, prospects, financial condition and results of operations.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Issue Price.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future.
- Risks Relating to the Business: The company Promoters and Directors has provided personal guarantees for its borrowings to secure the company loans. Its business, financial condition, results of operations, cash flows and prospects may be adversely affected by the revocation of all or any of the personal guarantees provided by the company Promoters, erstwhile Promoters and Directors in connection with its Company's borrowings.
- Risks Relating to the Business: In addition to normal remuneration, other benefits and reimbursement of expenses, some of the company Directors, Promoters and Key Management Personnel is interested in its Company to the extent of their shareholding and dividend entitlement in the Company.
- Risks Relating to the Business: The company inability to identify and understand evolving industry trends, technological advancements, customer preferences and develop new products to meet its customers' demands may adversely affect the company business.
- Risks Relating to the Business: The company inability to successfully implement some or all its business strategies in a timely manner or at all could has an adverse effect on the company business. Further, its failures to manage growth effectively may adversely impact the company business, results of operations and financial condition.
- Risks Relating to the Business: The company does not has firm commitment agreements with its customers. If the company customers choose not to source their requirements from its, the company business and results of operations may be adversely affected.
- Risks Relating to the Business: The company is subject to strict quality control requirements and any failure by its to comply with quality standards may lead to cancellation of existing and future orders and product recalls, which could adversely affect the company business, financial condition and results of operations.
- Risks Relating to the Business: Under-utilization of the company manufacturing capacities could has an adverse effect on its business, future prospects and future financial performance.
- Risks Relating to the Business: Information relating to the installed manufacturing capacity, actual production and capacity utilization of the company manufacturing facilities included in this Red Herring Prospectus are based on several estimates and actual future results may differ.
- Risks Relating to the Business: The company has significant power, water and fuel requirements and any disruption to power, water or fuel sources could increase its production costs and adversely affect the company results of operations.
- Risks Relating to the Business: The company is subject to counterparty credit risk and any delay in receipt or non-receipt of payments may adversely impact its financial condition and results of operations.
- Risks Relating to the Business: Outstanding dues to creditors may adversely affect the company business, reputation, and financial condition.
- Risks Relating to the Business: The company regularly work with hazardous materials and activities in its manufacturing facilities can be dangerous, which could cause injuries to people or property.
- Risks Relating to the Business: The company insurance cover may not be adequate or its may incur uninsured losses or losses in excess of the company insurance coverage.
- Risks Relating to the Business: Failures or disruption of the company IT and/ or ERP systems may adversely affect its business, financial condition, results of operations and prospects.
- Risks Relating to the Business: The company may be subject to industrial unrest, slowdowns and increased wages costs, which may adversely affect its business and results of operations.
- Risks Relating to the Business: If the company fail to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, the company financial risks.
- Risks Relating to the Business: The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- Risks Relating to the Business: The company Promoters will continue to exercise significant influence over its and may cause the company to take actions that is not in the best interest of its other shareholders.
- Risks Relating to the Business: The company success also depends to an extent on its product and process advancement capabilities, including the company tool room facilities, and any failures to derive the desired benefits from such efforts may hurt its competitiveness and profitability.
- Risks Relating to the Business: The Company as well as its customers operates in a highly competitive industry. Failures to compete effectively may has an adverse impact on its business, financial condition, results of operations and prospects.
- Risks Relating to the Business: The company business for home appliances sector is subject to season volatility and revenues are often concentrated and its may not able to accurately forecast the company project schedule which could has an adverse effect on its cash flows, business, results of operations and financial condition.
- Risks Relating to the Business: The company has not independently verified certain data in this Red Herring Prospectus, disclosure regarding nonverification and potential limitations of industry, economic, and market data sourced from third-party reports.
- Risks Relating to the Business: The company Promoters and Directors has provided personal guarantees for its borrowings to secure the company loans. Its business, financial condition, results of operations, cash flows and prospects may be adversely affected by the revocation of all or any of the personal guarantees provided by the company Promoters, erstwhile Promoters and Directors in connection with its Company's borrowings.
- Risks Relating to the Business: The company has issued Equity Shares in the last twelve months at price lower than the Issue Price.
- Risks Relating to the Business: The company cannot assure you that its Equity Shares will be listed on the SME platform of BSE Limited in a timely manner or at all, which may restrict your ability to dispose of the equity shares.
- Risks Relating to the Business: Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company major shareholders, may adversely affect the trading price of its Equity Shares.
- Risks Relating to the Business: The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- Risks Relating to the Business: After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- Risks Relating to the Business: The Issue Price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the Issue Price and you may not be able to Sell your Equity Shares at or above the Issue Price.
- Risks Relating to the Business: Within the parameters as mentioned in the chapter titled "Objects of the Issue" beginning on page 88 of this Red Herring Prospectus, the Company's management will has flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue has not been appraised by any bank or financial institution.
- Risks Relating to the Business: QIBs and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Individual Investors are not permitted to withdraw their Bids after Bid/ Issue Closing Date.
- Risks Relating to the Business: Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- Risks Relating to the Business: The company propose to utilize the Net Proceeds for purposes identified in the section titled "Objects of the Issue" in this Red Herring Prospectus. Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders" approval.
- Risks Relating to the Business: The Company is a party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various forums and regulatory authorities. Any adverse decision may make its liable to liabilities/penalties and may adversely affect the company reputation, business and financial status.
