Shakti Polytarp Shares List at 0.17% Discount on BSE SME

Shakti Polytarp shares made a marginally discounted stock market debut on the BSE SME platform, listing at ₹58.90 per share against the IPO issue price of ₹59 per share. This represented a listing discount of 0.17%.

The stock subsequently moved above both its listing and issue prices, trading at ₹59.25 per share. At this level, Shakti Polytarp shares were 0.42% above the ₹59 issue price and 0.59% higher than the ₹58.90 listing price.

During trading, the stock touched a high of ₹61.40 and a low of ₹56.36, while approximately 19.38 lakh shares changed hands on the BSE.

The listing followed Shakti Polytarp’s IPO, which received an overall subscription of 11.20 times. The issue was open for bidding from September 15 to September 17, 2026.

Shakti Polytarp manufactures tarpaulin and related products, including shade nets, and operates a manufacturing facility in Khargone, Madhya Pradesh.

Shakti Polytarp IPO Listing Details

Shakti Polytarp launched its IPO through a fresh issue of 45.64 lakh equity shares with a face value of ₹10 each.

The IPO price band was fixed at ₹56 to ₹59 per share, with the final issue price set at ₹59 per share.

The bidding window opened on September 15 and closed on September 17, 2026. The IPO received an overall subscription of 11.20 times by the end of the bidding period.

Shakti Polytarp subsequently made its stock market debut on the BSE SME platform at ₹58.90 per share against the IPO issue price of ₹59. This resulted in a marginal listing discount of 0.17%.

Following the listing, the stock moved higher to ₹59.25 per share. At this level, it was trading 0.42% above the IPO issue price and 0.59% above its listing price.

During trading, the counter touched a high of ₹61.40 and a low of ₹56.36, while approximately 19.38 lakh shares changed hands.

• Issue Price: ₹59 per share
• BSE SME Listing Price: ₹58.90 per share
• Listing Discount: 0.17%
• Trading Price: ₹59.25 per share
• Change From Issue Price: +0.42%
• Change From Listing Price: +0.59%
• Intraday High: ₹61.40 per share
• Intraday Low: ₹56.36 per share
• Shares Traded: Approximately 19.38 lakh
• Price Band: ₹56 to ₹59 per share
• Fresh Issue: 45.64 lakh equity shares
• Face Value: ₹10 per share
• Overall Subscription: 11.20 times
• Anchor Shares: 8.22 lakh
• Anchor Issue Price: ₹59 per share
• IPO Open Date: September 15, 2026
• IPO Close Date: September 17, 2026
• Exchange: BSE SME

First-Day Trading Performance

Listing Price: Shakti Polytarp share price debuted at ₹58.90 per share on the BSE SME platform against the IPO issue price of ₹59, resulting in a listing discount of 0.17%.

Following its market debut, the stock recovered above both the listing price and the IPO issue price to trade at ₹59.25.

At ₹59.25, the stock was ₹0.25 above its ₹59 issue price, representing a gain of 0.42%.

Compared with its ₹58.90 listing price, the stock was higher by ₹0.35, or 0.59%.

During trading, Shakti Polytarp shares touched an intraday high of ₹61.40, taking the stock above the IPO price. The counter also fell to an intraday low of ₹56.36.

Approximately 19.38 lakh shares changed hands on the BSE.

The market debut followed the company’s IPO, which received an overall subscription of 11.20 times during the bidding period from September 15 to September 17, 2026.

The first-day movement showed that Shakti Polytarp initially entered the secondary market marginally below its issue price before recovering above both the issue and listing levels.

Growth Drivers and Challenges

Growth Drivers

Tarpaulin Product Portfolio: Shakti Polytarp manufactures tarpaulin and related products, including shade nets, catering to applications requiring protective and covering solutions.

Customisation Capabilities: The company assists customers in selecting tarpaulin for specific applications and also provides design and customisation solutions.

Manufacturing Infrastructure: Shakti Polytarp operates a manufacturing unit in Khargone, Madhya Pradesh, providing an established production base for its operations.

Planned Capacity Investment: The company proposes to use ₹20.88 crore from the IPO proceeds towards purchasing plant and machinery, supporting investment in its manufacturing operations.

Revenue Growth: Sales increased 29.7% to ₹215.65 crore in FY2026, reflecting year-on-year growth in the company’s business.

Profit Growth: Profit before tax increased 97% to ₹13.59 crore in FY2026, while profit after tax rose 102.6% to ₹10.06 crore.

Challenges

Price Volatility: Shakti Polytarp shares moved between an intraday high of ₹61.40 and a low of ₹56.36 on their market debut, indicating price movement around the ₹59 issue price.

Manufacturing Dependence: The company’s operations depend on the effective functioning of its manufacturing facility in Khargone, Madhya Pradesh.

Capital Expenditure Execution: Shakti Polytarp plans to deploy ₹20.88 crore towards plant and machinery, making timely implementation and effective use of this capital expenditure important.

Business Concentration: The company’s operations are focused on tarpaulin and related products, which links its performance to demand conditions across its target applications and customer segments.

Post-Listing Market Performance: Following the IPO, the company’s share price will be influenced by secondary-market demand, liquidity and its operating and financial performance.

Utilisation of IPO Proceeds

Shakti Polytarp’s IPO comprised a fresh issue of 45.64 lakh equity shares.

The company proposes to use a significant portion of the IPO proceeds towards capital expenditure for the purchase of plant and machinery.

A total of ₹20.88 crore is proposed to be deployed towards this capital expenditure.

The investment in plant and machinery is intended to support the company's manufacturing operations.

The remaining IPO proceeds are proposed to be used for general corporate purposes.

The key proposed uses of the IPO proceeds include:

• ₹20.88 crore towards capital expenditure for the purchase of plant and machinery
• General corporate purposes

Business and IPO Overview

Shakti Polytarp manufactures tarpaulin and related products, including shade nets.

In addition to manufacturing these products, the company assists customers in selecting tarpaulin according to specific applications and provides design and customisation solutions.

Shakti Polytarp operates a manufacturing unit in Khargone, Madhya Pradesh. As of June 2026, the company had 114 permanent employees.

For FY2026, Shakti Polytarp reported sales of ₹215.65 crore, representing an increase of 29.7%.

Profit before tax increased 97% to ₹13.59 crore, while profit after tax rose 102.6% to ₹10.06 crore during the same period.

The company entered the public markets through an IPO comprising a fresh issue of 45.64 lakh equity shares. The price band was fixed at ₹56 to ₹59 per share, with the final issue price at ₹59.

The IPO was open for subscription from September 15 to September 17, 2026 and received an overall subscription of 11.20 times.

Ahead of the issue, 8.22 lakh shares were allotted to four anchor investors at ₹59 per share.

Shakti Polytarp made its stock market debut on the BSE SME platform at ₹58.90 per share, representing a 0.17% discount to its ₹59 issue price.

The stock subsequently traded at ₹59.25, putting it 0.42% above the issue price and 0.59% above the listing price.

During trading, Shakti Polytarp shares touched a high of ₹61.40 and a low of ₹56.36, while approximately 19.38 lakh shares changed hands on the BSE.