Antala Industries IPO
Antala Industries IPO Details
-
Open Date
29 Oct 2026
-
Close Date
02 Nov 2026
- IPO Price Range
₹ 63 to ₹67
- IPO Size
₹ 23.33 Cr
Antala Industries IPO Timeline
Antala Industries IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 29-Oct-2026 | 66.72 | 0.36 | 0.05 | 0.82 |
| 30-Oct-2026 | 66.72 | 0.02 | 0.10 | 0.81 |
| 02-Nov-2026 | 66.72 | 0.30 | 0.42 | 1.13 |
Last Updated: 02 November 2026 6:02 PM by 5paisa
Antala Industries Limited manufactures, processes, prints, laminates and supplies industrial and commercial packaging products. Its portfolio includes BOPP bags, BOPP printing rolls, BOPP lamination rolls, polypropylene (PP) woven bags and PP woven fabric rolls. The company provides customised packaging solutions to customers operating in food processing, fertilisers, chemicals, cement, seeds and other industrial sectors.
The company operates an integrated manufacturing facility at Shapar, Rajkot, Gujarat. Its manufacturing infrastructure includes extrusion, coating, lamination, rotogravure printing, multicolour printing, cutting, stitching and finishing capabilities. These processes allow Antala Industries to manufacture printed and laminated packaging products according to customer specifications.
The business originated as a partnership firm, M/s Octagon Industries, in April 2021 and was subsequently converted into a public limited company in August 2024. Its promoters have experience in the packaging industry, while its manufacturing operations are supported by ISO 9001:2015, ISO 14001:2015, ISO 22000:2018 and ISO 45001:2018 certifications.
Established in: 2024
Chairman and Managing Director: Rajeshkumar Chandulal Antala
Peers:
Knack Packaging Limited
Dhaval Packaging Limited
Antala Industries Objectives
The company proposes to utilise the net proceeds from the fresh issue for the following purposes:
1. Meeting additional working capital requirements to support existing manufacturing operations and business expansion.
2. Funding capital expenditure for the purchase of machinery to enhance manufacturing capabilities.
3. General corporate purposes.
The company has earmarked approximately ₹10.68 crore for working capital requirements and ₹5.89 crore for machinery purchases, aggregating to ₹16.57 crore. The remaining net proceeds, after issue-related expenses, are proposed to be used for general corporate purposes within applicable limits.
Antala Industries IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹23.33 Cr |
| Offer For Sale | – |
| Fresh Issue | ₹23.33 Cr |
Antala Industries IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Individual Investors (IND) (Min) | 2 | 4000 | 252000 |
| Individual Investors (IND) (Max) | 2 | 4000 | 268000 |
| HNI (Min) | 3 | 6000 | 378000 |
| S-HNI (Max) | 7 | 14000 | 938000 |
| B-HNI (Min) | 8 | 16000 | 1008000 |
Antala Industries IPO Reservation Table
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| Market Maker | 1 | 1,76,000 | 1,76,000 | 1.179 |
| QIB (Ex Anchor) | 66.72 | 36,000 | 24,02,000 | 16.093 |
| Non-Institutional Buyers | 0.30 | 5,10,000 | 1,54,000 | 1.032 |
| bNII (> ₹10L) | 0.23 | 3,42,000 | 80,000 | 0.536 |
| sNII (< ₹10L) | 0.44 | 1,68,000 | 74,000 | 0.496 |
| Individual Investors | 0.42 | 27,60,000 | 11,64,000 | 7.799 |
| Total ** | 1.13 | 33,06,000 | 37,20,000 | 24.924 |
| Particulars (In ₹ Crores) | FY24 | FY25* | FY26 |
| Revenue | 12.51 | 31.85 | 47.40 |
| EBITDA | 1.36 | 2.82 | 6.15 |
| PAT | 0.89 | 1.82 | 4.24 |
| Particulars (In ₹ Crores) | FY24 | FY25* | FY26 |
| Total Assets | 5.97 | 15.95 | 28.41 |
| Share Capital | 3.54 | 5.42 | 8.24 |
| Total Liabilities | 5.97 | 15.95 | 28.41 |
| Particulars (In ₹ Crores) | FY24 | FY25* | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | 0.48 | -3.28 | -4.88 |
| Net Cash Generated From / (Used In) Investing Activities | -0.03 | -0.50 | -1.78 |
| Net Cash Generated From / (Used In) Financing Activities | -0.10 | 5.89 | 4.95 |
| Net Increase / (Decrease) In Cash And Cash Equivalents | 0.35 | 2.11 | -1.71 |
Strengths
1. Integrated manufacturing operations: The Rajkot facility combines printing, coating, lamination, cutting, stitching and finishing activities, reducing dependence on external processing for several manufacturing stages.
2. Diversified product portfolio: The company manufactures BOPP laminated bags, printing rolls, lamination rolls, PP woven bags and woven fabrics for different packaging applications.
3. Experienced management: Its promoters have nearly three decades of experience in the packaging industry, covering manufacturing operations, customer relationships and business development.
4. Improving profitability: PAT increased to ₹4.24 crore in FY26 from approximately ₹1.82 crore in FY25 on the combined-period basis.
5. Quality certifications: The company holds multiple ISO certifications relating to quality management, environmental management, food safety and occupational health and safety.
Weaknesses
1. Customer concentration: The top 10 customers accounted for 47.43% of FY26 revenue from operations, making the company dependent on a relatively concentrated customer base.
2. Geographic concentration: Manufacturing operations are concentrated at one integrated facility in Rajkot, Gujarat, exposing production to location-specific disruptions.
3. High working capital requirements: FY26 inventories stood at ₹13.92 crore and trade receivables at ₹5.18 crore, resulting in considerable funds being tied up in operating assets.
4. Negative operating cash flow: The company reported operating cash outflows of ₹4.88 crore in FY26 despite generating a net profit.
5. Dependence on promoter experience: Business relationships, operational decisions and expansion strategies rely substantially on the knowledge and involvement of key promoters and directors.
Opportunities
1. Growing industrial packaging requirements: Demand from food processing, agriculture, chemicals, fertilisers and cement provides opportunities for PP woven and laminated packaging products.
Expansion into value-added packaging: Customer demand for customised printing, branding and product presentation can support the adoption of BOPP laminated bags and multicolour printed packaging.
Additional manufacturing machinery: The proposed ₹5.89 crore machinery expenditure could improve manufacturing capabilities and support higher production volumes.
Broader customer penetration: Expanding relationships across industries and geographic markets could help the company reduce dependence on existing customers.
Higher use of customised packaging: Increasing demand for packaging that combines durability, moisture protection and product visibility could create opportunities for differentiated products.
Threats
1. Intense industry competition: The fragmented and price-sensitive woven packaging market exposes manufacturers to pricing pressure and substitution by competing suppliers.
2. Raw-material price volatility: Changes in polypropylene prices and other input costs may affect profitability if the increases cannot be passed on to customers.
3. Manufacturing disruptions: Interruptions in electricity supply, machinery breakdowns or labour shortages at the Rajkot facility could affect production schedules.
4. Inventory and receivable risks: Delayed customer payments, inventory accumulation or changes in demand could place additional pressure on working capital and operating cash flows.
5. Regulatory and environmental compliance: Changes in plastics-related regulations, environmental requirements or packaging standards may increase compliance costs or require changes to manufacturing processes.
1. Expanding financial scale: Revenue from operations increased from ₹12.51 crore in FY24 to ₹47.40 crore in FY26, while PAT rose to ₹4.24 crore.
2. Integrated production capabilities: The company undertakes multiple manufacturing and finishing processes in-house, allowing it to supply customised woven and laminated packaging.
3. Exposure to multiple customer industries: Its products are used in food processing, fertilisers, chemicals, cement, seeds and other industrial applications.
4. Planned capacity-related investment: Approximately ₹5.89 crore of the IPO proceeds is earmarked for machinery, alongside ₹10.68 crore for working capital.
5. Established operating expertise: The business draws on the promoters' packaging-industry experience and a product portfolio covering both conventional and value-added packaging formats.
India's packaging industry serves a broad range of sectors, including food processing, agriculture, chemicals, fertilisers, cement and consumer goods. Woven polypropylene bags and BOPP laminated packaging are used where customers require durability, moisture resistance, efficient handling and printed product information.
Antala Industries operates within the industrial plastic packaging segment, where demand depends on manufacturing activity, agricultural output, industrial consumption and customer packaging requirements. The company's portfolio includes both conventional PP woven packaging and value-added BOPP printed and laminated products.
The wider plastics industry is supported by the availability of polymer-processing technologies, established manufacturing clusters and demand from downstream industries. Improvements in printing technology, lamination systems and packaging design have also increased the range of applications for customised industrial packaging.
Antala Industries intends to invest approximately ₹5.89 crore in machinery and ₹10.68 crore in working capital. These allocations are intended to support production capabilities and the operating requirements associated with business growth.
However, its growth prospects remain linked to polypropylene input costs, competitive pricing, customer concentration and the company's ability to convert revenue growth into positive operating cash flow.
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FAQs
Antala Industries IPO opens on 29 October 2026 and closes on 2 November 2026.
The Antala Industries IPO is approximately ₹23.33 crore.
The price band of Antala Industries IPO is fixed at ₹63 to ₹67 per equity share.
To apply for the Antala Industries IPO:
1. Log in to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the Antala Industries IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. You will receive a mandate notification in your UPI app to block the required funds.
The minimum eligible application comprises 4,000 equity shares, equivalent to two lots of 2,000 shares each. At the floor price of ₹63 per share, the minimum investment is ₹2,52,000.
The basis of allotment for the Antala Industries IPO is expected to be finalised on 3 November 2026.
The Antala Industries IPO is tentatively scheduled to list on the BSE SME platform on 5 November 2026.
Vatsa Capital Venture Private Limited is the book-running lead manager for the Antala Industries IPO. Bigshare Services Private Limited is the registrar to the issue.
The company proposes to utilise the fresh issue proceeds for:
1. Meeting working capital requirements of approximately ₹10.68 crore.
2. Funding capital expenditure of approximately ₹5.89 crore towards machinery purchases.
3. General corporate purposes.
The IPO proceeds are intended to support the company's manufacturing operations, working capital requirements and planned business expansion.