S.K.Offset IPO
S.K.Offset IPO is an SME IPO raising ₹29 Cr at ₹119 – ₹125 a share. It listed on 30 Sept 2026 at ₹126, +0.8% against its issue price of ₹125, and trades at ₹104 today (−16.8% since issue). It was subscribed 1.16× 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 Rs125 + OFS by subtraction from exchange total Rs29 Cr. Checked: exchange issue size Rs29 Cr vs derived Rs29.1 Cr (0.3% 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.
The issuer names no comparable listed companies: “There are presently no listed Companies in India that are engaged in a business that is directly comparable to the business carried on by our Company, in terms of nature of operations, product offerings, and business model. Accordingly, a meaningful industry comparison with respect to our Company, including comparison of key performance indicators, is not feasible and has therefore not been provided in this Issue Document.”
derived: cut-off price Rs125 / stated EPS Rs13.99 (FY26 (year ended March 31, 2026) diluted EPS, adjusted for 3:1 bonus issue issued on March 03, 2026; restated consolidated basis). 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.