Shakti Polytarp Limited
Shakti Polytarp Limited is an SME IPO raising ₹27 Cr at ₹56 – ₹59 a share. It listed on 22 Sept 2026 at ₹59, −0.2% against its issue price of ₹59, and trades at ₹46 today (−22.0% since issue). It was subscribed 11× in total.
11.2 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs59 + OFS by subtraction from exchange total Rs27 Cr. Checked: exchange issue size Rs27 Cr vs derived Rs27 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 78% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Commercial Syn Bags Limited | 43.93× | 16.86% | ₹6.75 |
| Shree Tirupati Balajee Agro Trading Company Ltd | 24.26× | 3.49% | ₹1.08 |
| This issue | 7.4× | 44.04% | ₹8 |
derived: cut-off price Rs59 / stated EPS Rs8 (FY2025-26 Basic & Diluted EPS, restated, year ended March 31, 2026). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.