Severeconcentrationpage 28
~91% revenue from single product cotton sarees
Our business is currently highly concentrated on a single product, i.e., cotton sarees. Almost all our revenue is generated from the sale of cotton sarees.
Bidding closedSMETextileMALA
Shree Balaji (Mala) Textiles IPO
Shree Balaji (Mala) Textiles IPO is a sme IPO raising ₹19 Cr at ₹66 – ₹70 a share. The smallest application you can make is 2000 shares, costing ₹1,40,000 at the top of the band. Bidding has closed; the shares list on 29 Jul 2026. So far it has been subscribed 0.00× in total.
₹66 – ₹70
Price band
₹1,40,000
Minimum to apply (2000 shares)
₹19 Cr
Issue size
24 Jul 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 352-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 385 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Severeconcentrationpage 36
Revenue concentrated 90%+ in Eastern India
We generated almost 90.97%, 89.27 %, and 91.02% of the total Revenue generated for the financial year ended March 31, 2026, 2025 and 2024 respectively
Severeoperationalpage 29
95% production outsourced to non-exclusive job workers
Approximately 95% of our products are manufactured through job workers... We have not entered into long term job work arrangement with our job workers.
Severeconcentrationpage 37
Top 10 suppliers 48-60% with no formal agreements
our top 10 suppliers contributed around 47.83%, 57.52%, and 60.08% respectively of our purchases... we do not have a formal written agreement with any of them
Severefinancialpage 34
Negative operating cash flow in Fiscal 2026
Net Cash Flow from/ (used in) from operating activities (1,326.52) 880.11 400.32
Severeregulatorypage 40
Extensive historical ROC filing delays
Our Company has, in the past, experienced delays in the filing of certain forms with the Registrar of Companies (ROC) as required under the Companies Act, 2013. These delays could potentially attract penalties, fines, and other regulatory actions against our company
Highfinancialpage 32
High working capital days of 140
Our working capital days for Fiscal 2026, Fiscal 2025 and Fiscal 2024 were 140 days, 147 days and 121 days, respectively.
Highconcentrationpage 35
Retailers contribute ~46% of revenue
Our retailers contribute around 46.13%, 46.70% and 27.77% of our revenues from operations for the year ended March 31, 2026, March 31, 2025 and March 31, 2024
Highregulatorypage 32
Key brand mark not registered as trademark
However, we have not registered "····" as a trademark. Non-registration of certain marks... may weaken our ability to enforce such rights against potential infringers
Highoperationalpage 33
Operations concentrated in five key cities
Our warehouse, factory and a majority of our job workers are exclusively based in and around Surat, Mumbai, Kolkata, Jetpur and Rajkot
Highfinancialpage 38
Raw materials 54.6% of revenue, no long-term contracts
Our Company's cost of raw material consumed 48.80%, 53.45%, and 54.60% of our revenues from operation for Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively... We currently do not have and do not intend to enter into long term contracts with any of the raw material suppliers
Highpromoterpage 47
Key person dependency on founder, no key-person insurance
Our performance depends largely on the efforts and abilities of our founder, Chairman and Managing Director, Mr. Binod Kumar Kedia... We do not maintain insurance against the loss of key personnel, other than a life insurance policy for our Chairman and Managing Director
Highpromoterpage 51
Promoter control and potential conflicts of interest
After the completion of the Offer, our Promoters, Binod Kumar Kedia, Anita Kedia and Mrityunjay Commosales Private Limited, will, by virtue of their shareholding, have the ability to exercise significant control and influence over our Company
Highmarketpage 39
Lagging e-commerce sales at only 4.33% of revenue
E-commerce sales contributed only ₹ 918.64 lakhs (4.33%) of our total revenue from operations in Fiscal 2026... The relatively limited contribution from e-commerce channels may restrict our ability to capitalize on the growing shift in consumer purchasing behaviour towards online shopping
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 ₹2.8 Cr.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 69 | 1 | — | ₹2.8 Cr |
case₹2.6 Crpage 261
Company filed 61 criminal cases under BNS Sections 316(2)/318(4)/61(2) (erstwhile IPC 420/406) for default in payment by third parties before Chief Metropolitan/Judicial Magistrate, Calcutta
case₹0.2 Crpage 261
Company filed 8 cases under Section 138 of the Negotiable Instruments Act, 1881 for cheque dishonour against various parties in Calcutta
case₹0.1 Crpage 263
GST scrutiny notice in Form ASMT-10 (Ref. ZD190326055926X) dated March 30, 2026 for FY 2022-23 alleging discrepancies of ₹5,23,093; no formal demand raised, reply filed in ASMT-11 on April 13, 2026
case₹0.0 Crpage 263
Direct tax case for ₹0.41 lakhs (includes Outstanding TDS default of ₹41,080 for FY 2025-2026); indirect tax Nil
All amounts converted from lakhs to crore (1 crore = 100 lakhs). Company bucket total ₹2.7551 crore = ₹18.65 lakhs (NI Act cases) + ₹256.45 lakhs (BNS cases) + ₹0.41 lakhs (direct tax). Subsidiaries and group companies are not separately disclosed in the litigation section. KMPs/SMPs (Other than Directors and Promoters) litigation is also Nil (page 264). The 69 criminal matters are cases filed BY the company as plaintiff for recovery; claim values stated as 'approximating'. Total trade payables of ₹3,421.31 lakhs to 79 creditors (including ₹1,542.99 lakhs to 5 material creditors) are disclosed under outstanding dues, not as litigation.. 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.