Injecto Polymers IPO is an SME IPO raising ₹56 Cr at ₹98 – ₹100 a share. The smallest application you can make is 1200 shares, costing ₹1,20,000 at the top of the band. Bidding closes on 16 Sept 2026 and the shares list on 21 Sept 2026. So far it has been subscribed 29× in total.
29.0 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Read from the 410-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 13 specific to this company; 554 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Net Cash used in Operating Activities was ₹(4,880.10) Lakhs, ₹(1,689.59) Lakhs and ₹(1,295.23) Lakhs for the Financial Years ended March 31, 2026, March 31, 2025 and March 31, 2024
revenue from West Bengal accounted for 85.27%, 75.86% and 82.24% of our total revenue from operations, respectively
The Restated Standalone Financial Statements has been redrafted to ensure that all Related Party Transactions, including the transactions which were previously omitted and in respect of which an adjudication application was filed, have been appropriately considered and disclosed
Short-Term Borrowings 2 15,695.18 8,688.11 5,230.24
we do not intend to use the proceeds of the IPO to fund our working capital requirements and propose to fund the same from our internal accruals or from external sources, it cannot be assured that we will be able to meet the same efficiently
In March 2025, the Government of West Bengal enacted the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025... all industrial promotion and incentive schemes notified by the State since 1993 have been repealed
Top 10 Suppliers 27,366.50 72.72%... Due to higher concentration of our material supplies, the loss of one or more key suppliers could materially disrupt our procurement
For FY 2026, revenue from trading activities contributed ₹18,912.21 lakhs, representing 50.36% of our total Revenue from operations, while manufacturing contributed ₹ 18,640.92 Lakhs, representing 49.64%
Our Company and our Group Companies, Hind Polyfabs Private Limited, Maruti Packagers Private Limited, Jupax Vanijya Private Limited, Rateria Laminators Private Limited and Khatuwala Packagers are engaged in the business of trading of plastic granules
We intend to use ₹ 3,050.00 Lakhs of the Net Proceeds from the proposed IPO for funding capital expenditure towards setting up a new manufacturing unit -Phase IV. We are yet to place orders for the capital expenditure
Our Promoters, Promoter Group and Directors collectively hold approximately 88.41% of the equity share capital of our Company and are, therefore, in a position to exercise significant control over our business and affairs.
Our Promoters' average cost of acquisition of Equity Shares in our Company may be lower than the Issue Price decided by the Company in consultation with the Book Running Lead Manager.
As on March 31, 2026, we have outstanding unsecured loan amounting to ₹ 2,012.41 Lakhs from third parties which are repayable on demand
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 5 | 1 | ₹2.6 Cr |
| Promoters | 0 | 1 | 0 | ₹21 Cr |
| Directors | 0 | 0 | 0 | — |
| Subsidiaries | 0 | 0 | 0 | — |
| Group companies | 1 | 56 | 7 | ₹44 Cr |
DGGI Kolkata show-cause DRC-01 to Group Co Hind Polyfabs and Promoter Ramesh Kumar Rateria alleging tax invoices/e-way bills without actual supply of plastic granules to 15 entities (FY2020-21 to FY2024-25); proposed penalty Rs.21.27 crore under CGST s.122(1)(ii); Rs.35 lakh already deposited during investigation
Show-cause DRC-01 dated 14-Jan-2026 to Group Co Jupax Vanijya and Director Rajat K. Rateria for allegedly passing on fake invoices (FY2020-21 to FY2024-25); penalty of Rs.5.32 crore imposed (Rs.30 lakh voluntarily deposited)
Company with Group Cos Hind Polyfabs & Jupax Vanijya filed Section 9 arbitration petition (A.P. (Com) No. 375 of 2026) before Calcutta HC against Janav Poly Product & Janav Overseas to recover Rs.2.61 crore (principal Rs.2.24 cr + 24% interest Rs.0.38 cr) admitted under Settlement Agreement dated 22-Jul-2025
Group Co Hind Polyfabs SLP (C) No.12609/2026 before Supreme Court challenging Calcutta HC judgment of 30-Jan-2025 that restored retrospective West Bengal entry tax demand of Rs.1.59 crore plus interest and late fees for Apr-2012 to Jun-2017
Group Co Maruti Packagers SLP (C) No.13095/2026 before Supreme Court challenging retrospective West Bengal entry tax demand of Rs.1.29 crore plus interest and late fees for Apr-2012 to Jun-2017
Amounts originally stated in Rs lakhs or absolute Rs; converted to Rs crore (1 crore = 100 lakhs = 10 million). No single grand total is disclosed in the section, so total_amount_cr is left null. Company 'other' (1) is the Section 9 arbitration petition filed jointly with Group Cos. Promoters tax (1 case, Rs.21.27 cr) is the Ramesh Kumar Rateria GST show-cause that overlaps the Hind Polyfabs DGGI matter listed under Group. Group aggregate of ~Rs.43.86 cr is the sum of (i) Rs.38.19 cr across 56 tax matters in the Section E table (Maruti Packagers, Rateria Laminators, Jupax Vanijya, Hind Polyfabs, Nilkanth Commercial, Sampark Consultants), (ii) Rs.0.80 cr Maruti Packagers commercial suit vs JMV Polymer, (iii) Rs.0.03 cr Hind Polyfabs cheque-bounce (CS-11395/2019), and (iv) ~Rs.4.84 cr across 6 regulatory/statutory actions (1 service-tax CESTAT appeal, 1 ITAT appeal, 4 entry-tax SLPs). KMP/SMP have 1 negligible TDS demand (Rs.200 accrued interest) on Ramavatar Kankani; not represented as a separate bucket. No subsidiaries are disclosed in this part.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
