Utkal Speciality Industries India IPO
IPO Listing Details
- Listing Date
17 Jun 2026
- Listing Price
₹ 66.00
- Listing Change
0.00%
- Last Traded Price
₹ 24.95
Utkal Speciality Industries India IPO Details
-
Open Date
10 Jun 2026
-
Close Date
12 Jun 2026
- IPO Price Range
₹ 62 to ₹66
- IPO Size
₹ 34.54 Cr
Utkal Speciality Industries India IPO Timeline
Utkal Speciality Industries India IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-June-2026 | 0.00 | 0.43 | 0.29 | 0.34 |
| 11-June-2026 | 1.12 | 0.47 | 1.10 | 0.84 |
| 12-June-2026 | 1.12 | 0.89 | 2.10 | 1.60 |
Last Updated: 03 July 2026 11:03 AM by 5paisa
Utkal Speciality Industries India Limited is engaged in the manufacturing of paper-based products and packaging materials, catering to food service and general packaging requirements. Its product portfolio includes paper plates, paper cups, paper glasses , paper dosa plates, paper bowls, tissue paper, pizza and sweets boxes, and wrap paper for sandwiches, burgers and similar food items. The company also trades polyethylene and corrugated boxes to support customer packaging needs, and undertakes contract manufacturing for select clients. Paper products contributed 99.42% of revenue from operations in FY25, with 100% of revenue derived from domestic sales spanning 15 states. The company maintains a portfolio of 200+ SKUs, with Odisha (38.95%), West Bengal (24.79%) and Andhra Pradesh (8.89%) as the top markets.
Established in: September 1, 2015
Managing Director and Chairman: Akash Agrawal and Manoj Kumar
Utkal Speciality Industries India Objectives
1. Funding incremental working capital requirements of the Company: ₹5.31 crore
2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company: ₹11.00 crore
3. Funding capital expenditure requirement towards purchase of machinery for new manufacturing facility at Khurda, Odisha: ₹9.60 crore
4. General corporate purposes
5. Offer-related expenses
Utkal Speciality Industries India IPO Size
| Types | Size |
|---|---|
| Total IPO Size |
₹34.54 Cr |
| Offer For Sale | - |
| Fresh Issue |
₹34.54 Cr |
Utkal Speciality Industries India IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,48,000 |
| Retail (Max) | 2 | 4,000 | ₹2,64,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,72,000 |
| S-HNI (Max) | 7 | 14,000 | ₹3,96,000 |
| B-HNI (Min) | 8 | 16,000 | ₹9,92,000 |
Utkal Speciality Industries India IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.12 | 50,000 | 56,000 | 0.370 |
| Non-Institutional Buyers | 0.89 | 20,68,000 | 18,48,000 | 12.197 |
| BNII | 0.89 | 14,14,000 | 12,62,000 | 8.329 |
| SNII | 0.90 | 6,54,000 | 5,86,000 | 3.868 |
| Individual Investors (IND category bidding for 2 Lots) | 2.10 | 29,52,000 | 62,08,000 | 40.973 |
| Total** | 1.60 | 50,70,000 | 81,12,000 | 53.539 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue |
46.23 |
44.15 |
50.28 |
| EBITDA |
4.56 |
6.44 |
10.88 |
| PAT |
2.21 |
3.24 |
6.68 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets |
6.07 |
9.95 |
21.64 |
| Share Capital |
4.00 |
4.65 |
14.30 |
| Total Liabilities |
25.41 |
25.43 |
17.37 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities |
-4.55 |
0.61 |
5.16 |
| Net Cash Generated From / (used in) Investing Activities |
-2.90 |
-0.45 |
-0.60 |
| Net Cash Generated From / (used in) Financing Activities |
7.52 |
-0.10 |
-4.63 |
| Net Increase (Decrease) in Cash and Cash Equivalents |
0.06 |
0.06 |
-0.07 |
Strengths
1. Broad SKU portfolio of 200+ products catering to diverse food service packaging needs across paper plates, cups, glasses, bowls, tissue, boxes and wrap paper
2. Strategically located on the Kolkata-Chennai highway, enabling lower freight costs from South Indian paper suppliers
3. EBITDA margin improved significantly from 14.10% in FY24 to 18.96% in FY25 and 19.51% in the nine months ended December 31, 2025 on revenue from operations basis
4. Growing loyal customer base with 203 repeat customers contributing 88.59% of revenue in the stub period ended December 31, 2025
Weaknesses
1. Raw material costs remain high, with cost of raw materials consumed at 80.55% of revenue from operations in the nine months ended December 31, 2025, though improving from 91.26% in FY24 and 83.26% in FY25
2. Revenue concentrated in Odisha (38.95%) and Eastern India (75.81% in stub period); export revenue was nil in FY25 and the stub period, making the business fully dependent on domestic demand
3. Paper products contributed 99.42% of FY25 revenue from operations, indicating high dependence on a single business segment
4. Predominantly short-term and working capital-linked borrowing structure; total borrowings stood at ₹17.16 crore as of December 31, 2025
5. Revenue from loyal customers stood at 88.59% of revenue in the stub period and 78.24% in FY25, creating dependence on repeat customer relationships
Opportunities
1. India Paper Packaging Market projected to reach USD 46.43 billion by 2030 at a CAGR of 19.48% (2025-2030)
2. Rising demand for sustainable paper-based packaging driven by single-use plastic bans and growing environmental awareness
3. New manufacturing facility at Khurda will expand product range to include aluminium foil containers
4. Growing organised food service, quick service restaurant and modern trade sectors driving paper cup and plate demand
Threats
1. Imports from ASEAN countries at significantly lower prices than Indian manufacturers constrain domestic pricing power
2. Intense competition from large established players and the unorganised sector
3. Sharp rise in paper prices can compress EBITDA margins given high raw material cost dependence
4. Government policy changes on packaging regulations could create operational transition risks
1. PAT grew from ₹3.24 crore in FY24 to ₹6.68 crore in FY25, with ₹5.48 crore recorded in just the nine months ended December 31, 2025; EBITDA margin on revenue from operations expanded to 19.51% in the same period
2. Diversified portfolio of 200+ SKUs with established presence across 15 states and a growing loyal customer base of 203 repeat customers
3. Total borrowings reduced from ₹25.43 crore in FY24 to ₹17.16 crore as of December 31, 2025, reflecting improved financial health
India's paper and packaging industry is on a strong structural growth path, backed by environmental policy shifts, rising consumer income and digital commerce expansion. The India Paper Packaging Market, estimated at USD 19.07 billion in 2025, is projected to reach USD 46.43 billion by 2030, growing at a CAGR of 19.48%. The nationwide push to phase out single-use plastics, coupled with growing consumer and institutional preference for eco-friendly packaging, is accelerating the transition from plastic to paper-based alternatives.
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FAQs
Utkal Speciality Industries India IPO opens from June 10, 2026 to June 12, 2026.
The size of Utkal Speciality Industries India IPO is ₹34.54 Cr. It is a 100% fresh issue of 52,34,000 equity shares. There is no Offer For Sale component.
The price band of Utkal Speciality Industries India IPO is fixed at ₹62 to ₹66 per share.
To apply for Utkal Speciality Industries India IPO, follow the steps given below:
1. Login 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 Utkal Speciality Industries India IPO
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange. You will receive a mandate notification to block funds in your UPI app.
The minimum bid size of Utkal Speciality Industries India IPO is 4,000 shares (2 lots of 2,000 shares each). The minimum investment required is ₹2,64,000 at the upper price band of ₹66.
The share allotment date of Utkal Speciality Industries India IPO is June 15, 2026.
Utkal Speciality Industries India IPO will tentatively be listed on June 17, 2026 on NSE.
Affinity Global Capital Market Private Limited is the book running lead manager for Utkal Speciality Industries India IPO.
Cameo Corporate Services Limited is the registrar for Utkal Speciality Industries India IPO.
Affinity Global Capital Market Private Limited is the book running lead managers for Utkal Speciality Industries India IPO.
Utkal Speciality Industries India IPO plans to utilise the raised capital from the IPO for:
1. Funding incremental working capital requirements: ₹5.31 crore
2. Prepayment or repayment of outstanding borrowings: ₹11.00 crore
3. Capital expenditure towards purchase of machinery for new manufacturing facility at Khurda, Odisha: ₹9.60 crore
4. General corporate purposes and offer-related expenses