Shree TNB Polymers IPO
Shree TNB Polymers IPO is an SME IPO raising ₹31 Cr at ₹50 – ₹53 a share. It listed on 8 Oct 2026 at ₹60, +13.2% against its issue price of ₹53, and trades at ₹55 today (+3.8% since issue). It was subscribed 1.91× in total.
Just covered — bids slightly exceed the 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 Rs52 + OFS by subtraction from exchange total Rs31 Cr. Checked: exchange issue size Rs31 Cr vs derived Rs31.2 Cr (0.6% 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 29% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Captain Pipes Limited | 40.37× | 7.15% | ₹0.19 |
| Texmo Pipes and Products Limited | 15.69× | 5.13% | ₹3.86 |
| Malpani Pipes and Fittings Limited | 7.7× | 17.65% | ₹8.38 |
| This issue | 11.2× | 13.69% | ₹4.65 |
derived: cut-off price Rs52 / stated EPS Rs4.65 (FY26 (year ended March 31, 2026) basic & diluted EPS, restated consolidated). 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.