Severeconcentrationpage 31
Extreme Customer Concentration
We are dependent on a limited number of customers for a significant portion of our revenues.
6 days leftSMEPlastic ProductsSHAKTIPOLY
Shakti Polytarp Limited
Shakti Polytarp Limited is an SME IPO raising ₹27 Cr at ₹56 – ₹59 a share. The smallest application you can make is 2000 shares, costing ₹1,18,000 at the top of the band. Bidding closes on 17 Sept 2026 and the shares list on 22 Sept 2026. So far it has been subscribed 0.00× in total.
₹56 – ₹59
Price band
₹1,18,000
Minimum to apply (2000 shares)
₹27 Cr
Issue size
17 Sept 2026
Bidding closes
0.00×Subscribed · all exchanges
No bids yet
populated partly populated we hold nothing here — the tab says why
What the prospectus says could go wrong
Read from the 415-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 13 specific to this company; 163 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Severeconcentrationpage 33
Extreme Supplier Concentration
Our Top 10 Suppliers contribute a significant portion of our raw material.
Severemarketpage 27
Reliance on Granule Supplier Discount Schemes
Such discount schemes are subject to the commercial policies of suppliers, minimum offtake commitments, market conditions, and continued eligibility under the respective programs.
Severepromoterpage 44
Promoters' Cost of Acquisition Far Below Issue Price
Our Promoters' average cost of acquisition of Equity Shares in our Company could be lower than the Issue Price...Ravi Singhal 57,10,000 6.31; Vivek Singhal 54,09,900 3.89
Severepromoterpage 57
Promoter Group Retains 64.92% Post-Issue Controlling Stake
our Promoter and Promoter Group hold 88.51% of the issued and outstanding paid-up share capital...Following the completion of the Issue, our Promoter and Promoter Group will continue to hold together 64.92%
Severefinancialpage 46
Material Related Party Transactions With Promoter Entities
Shri Balaji Plastopack (Prop. Ashish Singhal) 418.13 1.94%; Tripal Traders (Ramdas Singhal) ... 75.14 0.35% ... 306.74 1.85%
Highregulatorypage 33
Plastic Regulation Could Halt Production
Increased awareness of plastic pollution and its staggering impact on our environment might lead to imposition of complete or partial ban on the industrial usage of plastics or supply of plastics, which could have a severe impact on the operation of our manufacturing unit and our continued business operations.
Highfinancialpage 32
Working-Capital and Capex Cash Burn
During Fiscal 2025 and Fiscal 2024, our Company had net cash used in operating activities of ₹1,078.51 lakhs and ₹205.12 lakhs, respectively.
Highoperationalpage 28
Underutilization Amid Major Capacity Expansion
Accordingly, the overall capacity utilization for March 31, 2026, is 48.66%.
Highconcentrationpage 34
Revenue Concentration in Madhya Pradesh
State of Madhya Pradesh contributes to a substantial portion of our revenues for year ended on March 31, 2026, 2025 & 2024.
Highpromoterpage 54
Conflicts of Interest With Overlapping Group Companies
Potential conflicts of interest may arise due to the involvement of certain Group Companies in businesses similar to that of our Company...M/s Shakti Cooperation (India) and M/s Tripal Traders...we have entered into non-compete agreements...dated February 24, 2025
Highfinancialpage 48
Floating-Rate Debt Exposes Earnings to Interest Rate Risk
our Company has total outstanding secured borrowings from banks and financial institutions...aggregating to Rs. 7,211.23 Lakhs...EBLR+2.5%-1.00%...0.85% + MCLR Rate
Highoperationalpage 42
No Long-Term Supply Agreements for Raw Materials
we do not have any long-term supply agreements with the raw material providers...Raw material for our company includes PP Granules, LDPE Granules, Color and UV master batches, fillers, LLDPE Granules, HDPE Granules
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.
What’s in court
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed; the disclosed aggregate at stake is ₹0.0 Cr.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 0 | 0 | — |
| Promoters | 0 | 0 | 0 | — |
| Directors | 0 | 0 | 0 | — |
| Group companies | 0 | 3 | 0 | ₹0.0 Cr |
case₹0.0 Crpage 316
Income-tax demand against Mr. Ramdas Singhal, sole proprietor of Tripal Traders (group entity) for AY 2024 under section 143(1)(a) of the Income-tax Act, 1961 – Rs. 1,04,905, under adjudication
case₹0.0 Crpage 317
TDS demand outstanding on TRACES portal of Shakti Corporation (India) (group entity) for FY 2012-13 – Rs. 10,180
case₹0.0 Crpage 316
Income-tax demand against Shakti Cooperation (India) (group entity) for AY 2016 under section 143(1)(a) of the Income-tax Act, 1961 – Rs. 88, under adjudication
Aggregate tax amount of Rs. 1.25 lakhs = 0.0125 crore (1 crore = 100 lakh = 10 million). Individual demand amounts originally stated in rupees; converted to crore. No outstanding criminal, civil, regulatory or other material proceedings disclosed against the Company, Promoters, Directors, KMP or Senior Management. Subsidiaries are not discussed as a separate category in this section; only 'Group Entities' are reported.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
Source documents
What the issuer and the exchanges published. Everything else on this tab is read out of these.