Injecto Polymers IPO
Injecto Polymers LtdSME
This IPO has listed.
- Open date
- 11 Sep 2026
- Close date
- 16 Sep 2026
- Min. Investment
- ₹2,40,000
- Lot Size
- -
- Fresh Issue
- ₹56.12 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers1.57x
- Non-Institutional Investors1.05x
- Retail-Individual Investors1.28x
- Total1.21x
Schedule
- Completed: IPO open date11 Sep 2026
- Completed: IPO close date16 Sep 2026
- Completed: Allotment date17 Sep 2026
- Completed: Funds unblock or debit18 Sep 2026
- Completed: Tentative listing date21 Sep 2026
About
Promoter shareholding in Injecto Polymers Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Ramesh Kumar Rateria | 32,81,000 | 21.62% | 32,81,000 | 15.78% |
| Ashok Kumar Rateria | 2,31,000 | 1.52% | 2,31,000 | 1.11% |
| Suman Financial Advisory Priva | 21,60,000 | 14.23% | 21,60,000 | 10.39% |
| Suman Towers Private Limited | 21,60,000 | 14.23% | 21,60,000 | 10.39% |
| Vinayak Tie-up Private Limited | 16,07,200 | 10.59% | 16,07,200 | 7.73% |
| Nivedeeka Commercial Private L | 10,08,200 | 6.64% | 10,08,200 | 4.85% |
| Bhagyashri Trading Private Lim | 7,78,800 | 5.13% | 7,78,800 | 3.75% |
| Sampark Consultants Limited | 48,000 | 0.32% | 48,000 | 0.23% |
| Shipra Retailer Private Limit | 2,32,600 | 1.53% | 2,32,600 | 1.12% |
| Rupam Rateria | 2,80,000 | 1.84% | 2,80,000 | 1.35% |
| Rajat Rateria | 2,30,000 | 1.52% | 2,30,000 | 1.11% |
| Snehal Rateria | 2,30,000 | 1.52% | 2,30,000 | 1.11% |
| Prem Rateria | 2,30,000 | 1.52% | 2,30,000 | 1.11% |
| Ramesh Kumar Rateria (HUF) | 1,46,000 | 0.96% | 1,46,000 | 0.70% |
| Nilkanth Commercial Private | 7,54,400 | 4.97% | 7,54,400 | 3.63% |
Injecto Polymers IPO Strengths & Risks
- Strong Customer Relationship
- Multi - Product Portfolio & Customisation Capabilities
- Locational Advantage of our manufacturing units
- Quality Standard Certifications & Quality Tests
- Experienced Promoter and Senior Management Team.
- Risks Relating to the Business: The company derives a significant portion of its revenue from operations from limited number of customers, and the loss of one or more such customers, the deterioration of their financial condition or prospects, or a reductionin their demand for its products could adversely affect the company's business, results of operations, financial condition and cash flows. Any adverse change in the business relationship with one or more of its top1, top3, top 5 and top 10 customers, including a reduction in order volume, changes in contract terms, delayed payments, ortermination, could materially and adversely affect the company's revenue, cash flows, and overall financial performance.
- Risks Relating to the Business: The company derives a significant portion of its revenue from operations from trading activities, and any adverse developments in this segment may materially impact the company's business, financial condition, results of operations and cash flows. Its dependence on high trading activities exposes the company to risks such as volatility in prices oftraded goods, demand-supply fluctuations, higher inventory requirements, low margins, counterpartydefaults, and competition due to low barriers to entry, which may adversely impact the company's business, financial conditions, results of operations and cash flows.
- Risks Relating to the Business: A significant portion of the company's revenue from operations is generated from Eastern India especially from WestBengal. Any adverse development affecting its business operations in these regions could have a negative impact on the company's revenue and results of operations.
- Risks Relating to the Business: Inadequate or interrupted supply and price fluctuation of the company's raw materials could adversely affect its business, results of operations, cash flows, profitability and financial condition.
- Risks Relating to the Business: The company's reliance for raw materials is highly dependent on a few limited numbers of suppliers and the loss of one or more such suppliers, the deterioration of their financial condition or prospects, or higher demand from its competitors could adversely affect the company's supplies from these suppliers. Any adverse change in its business relationship with one or more of the company's top 1, top 3, top 5 and top 10 suppliers, including a reduction in materials supplied, changes in contract terms, changes in payment terms, or termination of its orders, could materiallyand adversely affect the company's revenue, cash flows, and overall financial performance and also expose it to risks of supply disruptions, pricing volatility which may adversely impact the company's production schedules and financial performance.
- Risks Relating to the Business: The Company, Promoters, Directors, Key Managerial Personnel ("KMPs"), Senior Management Personnel("SMPs"), and Group Companies are involved in certain legal proceedings, which, if determined adversely, may have an adverse effect on its business, financial condition, results of operations, or reputation.
- Risks Relating to the Business: Past lapses, non-compliances and irregularities in statutory filings with the Registrar of Companies, Accounting Standards and filings with GST authorities may attract regulatory scrutiny or penalties, which could adversely affect the company's business and reputation.
- Risks Relating to the Business: There have been past instances of delay in payment of statutory dues by the Company, including TDS, PF,ESIC contributions and Professional Tax, which may expose it to penalties and other regulatory actions.
- Risks Relating to the Business: The company does not own its Registered office, Manufacturing Facility (Unit II) and warehouses and the same are takenon lease from a Promoter, Group Companies and a third party. There can be no assurance that the Lease agreements will be renewed upon termination or that its will be able to obtain other premises on leave and license on same or similar commercial terms.
- Risks Relating to the Business: Certain related party transactions were not specifically disclosed in the financial statements in accordancewith the disclosure requirements prescribed under Schedule III to the Companies Act, 2013. Any regulatory action, penalty or other adverse consequence arising from such disclosure lapses may adversely affect the company's reputation, financial condition and results of operations.
- Risks Relating to the Business: The Company has received subsidies from central and State Government in the past. However, following theenactment of the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025, which repeals all industrial incentive schemes introduced in West Bengal since 1993, the company will no longer be eligible to receive any further subsidies or incentives from the State Government. Thischange may impact its business operations and financial performance.
- Risks Relating to the Business: Its business may be adversely affected if the company is unable to maintain optimal capacity utilisation levels across its manufacturing facilities.
- Risks Relating to the Business: The company does not have long-term or definitive agreements with its customers, and any reduction in demand fromthem could adversely affect the company's business, financial condition, and results of operations.
- Risks Relating to the Business: The company's business is operating under various laws which requires it to obtain approvals from the concernedstatutory/regulatory authorities in the ordinary course of business and the company's inability to obtain, maintain orrenew requisite statutory and regulatory permits and approvals for its business operations could materiallyand adversely affect the company's business, prospects, results of operations and financial condition.
- Risks Relating to the Business: The company has experienced Negative Cash Flows from Operating Activities which may adversely affect its abilityto fund operations and growth.
- Risks Relating to the Business: The plastic and polymers industry segment in which the company operates is highly fragmented and its faces competition from other large and small organised and unorganised players, which may affect the company's business operations and financial conditions.
- Risks Relating to the Business: The Company requires significant amount of working capital and significant portion of its working capital is consumed in trade receivables and inventories. The Company is not utilising IPO money for meeting its working capital requirement and is planning to meet the same from internal accruals or from external sources. The company's inability to meet its working capital requirements including failures to realise receivables and inventories may have an adverse effect on the company's results of operations and overall business.
- Risks Relating to the Business: The company's existing and proposed manufacturing facility are concentrated in a single region i.e., West Bengal and any adverse development in West Bengal, such as economic downturns, changes in regulatory or governmental policies, disruptions in local infrastructure, natural disasters, or socio-political unrest, could materially and adversely affect the company's business operations, and financial performance and growth prospects.
- Risks Relating to the Business: The company's ability to efficiently collect payments from customers has supported its business operations and liquidity, and continued discipline in collections will remain important to the company's financial performance. Any delay in timely collections from its customers will have a negative impact on the company's business operations, working capital cycle and profitability.
- Risks Relating to the Business: The company proposed utilisation of the Net Proceeds towards capital expenditure, including for the establishment of a new manufacturing facility, is subject to various risks and uncertainties, and any delay or failures in implementation may adversely affect its business, financial condition, and results of operations.
- Risks Relating to the Business: The company's business operations are labour intensive, and any strikes, work stoppages, or increased wage demands by its employees may have a material adverse effect on the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company's business is significantly dependent on its Promoters, Key and Senior management and other skilled personnel, and the company's inability to attract, retain, and manage such key personnel and senior management could adversely affect its business, financial condition, results of operations, and growth prospects.
- Risks Relating to the Business: The Company has availed unsecured loans which may be recalled by the lenders on demand.
- Risks Relating to the Business: Its Group Companies are engaged in similar line of business as of the Company. This may lead to conflict of interest and may also affect the Company's business growth and prospects in the future.
- Risks Relating to the Business: The company has not yet placed orders in relation to the funding the capital expenditure towards setting up a new manufacturing unit - Phase IV, which is proposed to be financed from the issue proceeds of the IPO. In the event of any delay in placing the orders, it may result in time and cost over-runs and the company's business, prospects and results of operations may be adversely affected.
- Risks Relating to the Business: The company's insurance coverage may not be adequate to protect it against certain operational hazards and this may have a material adverse effect on the company's business and financial conditions.
- Risks Relating to the Business: Some of the KMPs/SMPs are associated with the Company for less than one year.
- Risks Relating to the Business: Foreign Trade restrictions could materially and adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company's Promoters have provided personal guarantees for loan facilities obtained by its, and any failures or default by the company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as its Promoters and thereby, impact the company's business and operations.
- Risks Relating to the Business: Its financing agreements contain covenants that limit the company flexibility in operating its business. If the company is not in compliance with certain of these covenants and are unable to obtain waivers from the respective lenders, its lenders may accelerate the repayment schedules, and enforce their respective security interests, leading to a material adverse effect on the company's business and financial condition.
- Risks Relating to the Business: 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 approval of the shareholders of the Company.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- Risks Relating to the Business: Shortage or non-availability of essential utilities such as electricity could affect the company's manufacturing operations and have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company does not own or operates any in-house logistics or transportation infrastructure and relies on third-party service providers, which exposes it to various operational and financial risks.
- Risks Relating to the Business: Disruptions or failures in the company's information technology systems may affect its business operations. Failures to keep pace with technological advancements of machines or industry trends may adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: Certain agreements, deeds or licenses may continue to reflect the company's former name, which may impact their enforceability or validity.
- Risks Relating to the Business: Failures to protect the company's intellectual property rights may adversely affect its competitive business position, financial position and profitability.
- Risks Relating to the Business: The company is exposed to risks related to the capital expenditure for setting up a new manufacturing facility at NH-2 Bypass Road, Jaugram, Abujhati, Jamalpur, West Bengal-713166, which may impact its financial and operational performance.
- 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: In the event there is any delay in the completion of the IPO, there would be a corresponding delay in the completion of the objects / schedule of implementation of this Issue which would in turn affect the company's revenue and results of operations.
- Risks Relating to the Business: The objects of the Fresh Issue have not been appraised by any bank or financial institution.
- Risks Relating to the Business: Industry information included in this Red Herring Prospectus has been derived from publicly available sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- Risks Relating to the Business: The company has a significant amount of outstanding indebtedness, which could restrict its operational flexibility and adversely affect the company's business, financial condition, results of operations, and prospects.
- Risks Relating to the Business: The company's lenders have charge over properties in respect of finance availed by it. The company has secured its lenders by creating a charge over the company movable's assets in respect of credit facilities availed by it from banks and financial institutions.
- Risks Relating to the Business: In addition to normal remuneration or benefits and reimbursement of expenses, some of its directors and key managerial personnel are interested in the Company to the extent of their shareholding, and dividend entitlement in the Company.
- Risks Relating to the Business: The company is exposed to foreign currency fluctuation risks, particularly with respect to the Indian Rupee (INR)-U.S. Dollar (USD) pair, which could adversely affect its results of operations and financial condition.
- Risks Relating to the Business: The company's 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's financing arrangements.
- Risks Relating to the Business: Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors assessments of the company's financial condition, result of operations and cash flows.
- Risks Relating to the Business: The company's actual results could differ from the estimates and projections used to prepare its financial statements.
- Risks Relating to the Business: Certain key performance indicators for certain listed industry peers included in this Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company's Promoters may be lower than the issue price of Equity Share.
- Risks Relating to the Business: The company has issued Equity Shares in the last 12 months at a price which could be lower than the Issue Price.
- Risks Relating to the Business: Concentrated Shareholding by Promoters, Promoter Group and Directors, even after the issue could adversely impact the influence of Minority Shareholders.
- Risks Relating to the Business: The company's directors does not have prior experience as directors in listed companies in India, which may pose governance and compliance-related challenges.
- Risks Relating to the Business: The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
- Risks Relating to the Business: Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company's major shareholders may adversely affect the trading price of its Equity Shares.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the issue will be listed on the SME Platform of the BSE Limited, ("BSE SME"), in a timely manner or at all.
- Risks Relating to the Business: The company may faces significant resource and compliance burdens as a result of becoming a publicly listed company.
- Risks Relating to the Business: There has been no prior public market for the company's Equity Shares, and the listing of its Equity Shares may not result in the development of an active or liquid trading market.
- Risks Relating to the Business: There are restrictions on daily / weekly / monthly movements in the price of the Equity Shares, which may adversely affect a shareholders ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- 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: You will not be able to sell immediately on Stock Exchange any of the Equity Shares you purchase in the Issue until the Issue receives appropriate trading permissions.
- Risks Relating to the Business: The Issue price of the company's Equity Shares may not be indicative of the market price of its Equity shares after the issue.
- Risks Relating to the Business: The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
