Shakti Polytarp IPO
Shakti Polytarp LtdSME
This IPO has listed.
- Open date
- 15 Sep 2026
- Close date
- 17 Sep 2026
- Min. Investment
- ₹2,36,000
- Lot Size
- -
- Fresh Issue
- ₹26.93 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers49.22x
- Non-Institutional Investors4.79x
- Retail-Individual Investors4.12x
- Total11.20x
Schedule
- Completed: IPO open date15 Sep 2026
- Completed: IPO close date17 Sep 2026
- Completed: Allotment date18 Sep 2026
- Completed: Funds unblock or debit18 Sep 2026
- Completed: Tentative listing date22 Sep 2026
About
Promoter shareholding in Shakti Polytarp Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Ravi Singhal | 57,10,000 | 45.45% | 57,10,000 | 33.34% |
| Vivek Singhal | 54,09,990 | 43.06% | 54,09,990 | 31.59% |
| Trisha Singhal | 2 | 0.00% | 2 | 0.00% |
| Priyal Singhal | 2 | 0.00% | 2 | 0.00% |
| Ramdas Singhal | 2 | 0.00% | 2 | 0.00% |
| Renu Singhal | 2 | 0.00% | 2 | 0.00% |
| Nandan Garg | 2 | 0.00% | 2 | 0.00% |
Shakti Polytarp IPO Strengths & Risks
- Designing and execution capabilities.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our consumers.
- Quality assurance and control.
- Risks Relating to the Business: The company's business is substantially dependent on revenues from the manufacturing of tarpaulin and the trading of granules, and any inability to retain existing customers or attract new customers for these products may adversely affect its business.
- Risks Relating to the Business: The property used by the company as its registered office and manufacturing facility are not owned by the company. Any termination of the relevant lease/ rent agreements could adversely affect its operations.
- Risks Relating to the Business: Under-utilization of the company's manufacturing facility in earlier periods and any inability to effectively utilize its existing and proposed manufacturing capacity may adversely affect the company's business, future prospects and financial performance.
- Risks Relating to the Business: The company's major revenue is sourced from manufacturing of Tarpulin. Its inability or failures to manage and attract more clients for this product could adversely affect the company's business.
- Risks Relating to the Business: The company will avail capital subsidy under the Madhya Pradesh MSME Promotion Scheme, 2025 in respect of investments made in plant and machinery, the utilisation of which is subject to half yearly monitoring by its Audit Committee. However, there can be no assurance that such subsidy will be received in a timely manner or at all.
- Risks Relating to the Business: The company is dependent on a limited number of customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of the company's major customers may adversely affect its business, financial condition, results of operations and prospects.
- Risks Relating to the Business: The company had negative cash flows in the past and may continue to have negative cash flows in the future.
- Risks Relating to the Business: the company's Top 10 Suppliers contribute a significant portion of its raw material. Any dispute with one or more of them may adversely affect the company's 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 the company operations, results of operations and financial condition.
- Risks Relating to the Business: Extensive government regulation and the impact of plastics on the environment could have a severe impact on the company's ability to continue its business operations, which could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: Majority of the company's revenue from operations are derived from the State of Madhya Pradesh. Any loss of business from this state may adversely affect its revenues and profitability.
- Risks Relating to the Business: The Company may incur penalties or liabilities for delays in filings with certain provisions of the GST Act, Income Tax Act, and other applicable laws.
- Risks Relating to the Business: The company faces competition, including from other large and established competitors, and its may fails to compete successfully against existing or new competitors, which may reduce the demand for the company's Products which may lead to reduced prices, operating margins, profits and further result in decline in revenue.
- Risks Relating to the Business: The Company has made delays in compliance with certain statutory provisions of the Companies Act, 2013. Such delayed filings may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
- Risks Relating to the Business: The company's recent revenue and profitability growth may not be sustainable. The Company has benefited from supplier incentives, trading expansion, and cost efficiencies in recent periods. Any changes in supplier programs, input costs, market dynamics, or operational challenges may affect future financial performance.
- Risks Relating to the Business: Certain intellectual property rights including the company's logo are has not been registered under the Trademarks Act, 1999. Further, any infringement of its intellectual property rights or failures to protect the company's intellectual property rights may adversely affect its business.
- Risks Relating to the Business: Any failures on the company's part to effectively manage its inventory may result in an adverse effect on the company's business, revenue from manufacturing operations and financial condition.
- Risks Relating to the Business: Some of the employees of the company has not been registered in the EPFO Portal and ESI Portal.
- Risks Relating to the Business: There is some outstanding tax litigation involving the company Group Entity. Any adverse decision in such proceedings may have an adverse effect on the company's reputation, its business and the results of operations of the company.
- Risks Relating to the Business: Changes in the company's Key Managerial Personnel may impact the continuity of its managerial, secretarial and compliance functions.
- Risks Relating to the Business: The company's insurance coverage in connection with its business may not be adequate and may adversely affect the company operations and profitability.
- Risks Relating to the Business: The Company is dependent on third parties for the supply of raw materials required for its products and is exposed to risks relating to fluctuations in prices and shortage of raw material. Further, the company does not have any long-term supply agreements with the raw material providers.
- Risks Relating to the Business: The Company has obtained unsecured loans that may be recalled by the lenders at any time.
- Risks Relating to the Business: Any loss of or breakdown of operations at the company's manufacturing facility may have a material adverse effect on its business, financial condition and results of operations.
- Risks Relating to the Business: The company is entirely dependent on third-party logistics service providers for the transportation of raw materials and finished products.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Issue Price.
- Risks Relating to the Business: None of the company's Board of Directors does not have experience of listed companies.
- Risks Relating to the Business: The Company has entered into certain related party transactions at arm length price in the past and may continue to do so in the future.
- 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: There is no monitoring agency appointed by the Company and the deployments of funds are at the discretion of its Management and the company's Board of Directors, though it shall be monitored by the Audit Committee.
- Risks Relating to the Business: The equity shares of the Company may get delayed or may not be listed on the SME Platform of BSE Limited.
- Risks Relating to the Business: Fluctuation of Interest rate may adversely affect the Company's business.
- Risks Relating to the Business: In addition to normal remuneration, other benefits and reimbursement of expenses of some of its directors and Key Management Personnel who 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 yet to place orders for 100% of the plant & machineries for its proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement of plant & machineries may delay the company 's implementation schedule and may also lead to increase in price of these plant & machineries, further affecting its revenue and profitability
- Risks Relating to the Business: The company 's Promoters have provided personal guarantees for its borrowings to secure the company 's 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 its Promoters in connection with the Company's borrowings.
- Risks Relating to the Business: The Company's operation and growth is dependent upon successful implementation of its business strategies.
- Risks Relating to the Business: The company 's success is dependent on its Promoters, senior management and skilled manpower. The company 's inability to attract and retain key personnel or the loss of services of its Promoters or Managing Director and Directors may have an adverse effect on the company 's business prospects.
- Risks Relating to the Business: The results of operations and cash flows could be adversely affected if the Company is unable to collect the dues and receivables from, the clients.
- Risks Relating to the Business: The results of operations and the key business measures are subject to quarterly variations.
- Risks Relating to the Business: The company is subject to certain covenants under its borrowing arrangements, and any breach of these covenants may adversely affect the company 's business, financial condition, and operations.
- Risks Relating to the Business: Potential Conflicts of Interest Arising from Common Pursuits, Overlapping Business Activities and Competition with Certain Group Companies.
- Risks Relating to the Business: If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report the company 's financial risk.
- Risks Relating to the Business: The company could be harmed by employee misconduct, errors, fraud, theft, misbehaviour, negligence, or data theft, which are difficult to detect, and any such incidents could adversely affect its financial condition, results of operations, and reputation.
- 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: This Red Herring Prospectus contains information from third parties, including an industry report prepared by an independent third-party research agency, Infomerics Analytics and Research Private Limited, which the company has commissioned and paid for purposes of confirming its understanding of the industry exclusively in connection with the Offer.
- Risks Relating to the Business: Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders approval.
- 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: The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by the company , may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
- Risks Relating to the Business: The company generally do business with its customers on a purchase order basis and does not enters into long-term contracts with most of them.
- Risks Relating to the Business: The company 's marketing and advertising activities may not be successful in increasing the popularity of the Company among customers. If its marketing or advertising initiatives are not effective, this may affect the popularity of the Company.
- Risks Relating to the Business: The company will continue to be controlled by its Promoter and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of the company 's shareholders.
