- Summary
- The Shree TNB Polymers IPO is an SME book-built IPO, scheduled to open on 28 September 2026 and close on 5 October 2026.
- The shares have a price band between ₹50 and ₹53 per share, along with a minimum application of 2 lots (4,000 shares).
- The tentative listing of the IPO shares is fixed on 8 October 2026 on the BSE SME platform.
Shree TNB Polymers IPO is an SME book-built issue comprising a fresh issue of up to 60,00,000 equity shares. The IPO is scheduled to open on 28 September 2026 and close on 5 October 2026, with the price band fixed at ₹50 to ₹53 per share. The minimum application is 2 lots or 4,000 shares, requiring an investment of ₹2.12 lakh at the upper price band. The company proposes to list its shares on the BSE SME platform. The IPO proceeds will be used mainly for purchasing machinery, setting up a rooftop solar panel system, installing a pre-engineered building and repaying borrowings.
Shree TNB Polymers IPO Key Details
The table below presents the essential details investors should know before applying for the Shree TNB Polymers IPO.
| IPO Open Date | 28 September 2026 |
| Close Date | 5 October 2026 |
| Face value | ₹10 per share |
| Issue Price | ₹50-₹53 per share |
| IPO Lot Size | 2,000 shares |
| Fresh issue | 60,00,000 shares |
| Offer for Sale | – |
| Type of issue | Book-building SME |
| Listing at | BSE SME |
| Total Issue Size (₹ Crore) | ₹32 crore approx |
| Minimum Investment | 2 lots (4,000 shares) |
Shree TNB Polymers IPO Timeline
Below is the complete schedule of events for the Shree TNB Polymers IPO.
| Bid Opening | 28 September 2026 |
| Bid Closing | 5 October 2026 |
| Tentative Allotment | 6 October 2026 |
| Initiation of Refunds | 7 October 2026 |
| Credit of Shares to Demat | 7 October 2026 |
| Tentative Listing Date | 8 October 2026 |
| UPI mandate closing date | 5 October 2026 |
Key Performance Indicators of Shree TNB Polymers IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 13.69 | 13.95 | 15.87 |
| ROCE (%) | 16.02 | 15.25 | 17.06 |
| Debt Equity (in times) | 0.80 | 0.79 | |
| RoNW (%) | 13.69 | 13.95 | 15.87 |
| PAT Margin (%) | 3.60 | 3.29 | 2.42 |
| EBITDA margin (%) | 9.69 | 8.81 | 7.32 |
| Price to book |
Shree TNB Polymers IPO Financial Details
The Financial information of the Shree TNB Polymers IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 198.13 | 175.65 | 207.86 |
| Total Asset | 145.26 | 127.38 | 105.03 |
| Profit | 7.13 | 5.77 | 5.03 |
Shree TNB Polymers IPO Subscription Status
| Date | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Sep 28 (Day 1) | 0.41 | 0.66 | 0.94 | 0.11 | 0.05 | 0.29 |
Shree TNB Polymers IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Shree TNB Polymers IPO shows a GMP of ₹0.
| GMP Date | GMP | Est. Listing Price on upper price-₹53.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 28-Sep 14:53 Sub: 0.27x O | ₹0 (0.00%) ─ | ₹53 | ₹0 | Initial |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Shree TNB Polymers IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | No. of Shares | % of Net Issue | % of Total Issue |
| Market Maker | 3,00,000 | 5.00 | |
| QIBs | 28,46,000 | 49.93 | 47.43 |
| NIIs | 8,58,000 | 15.05 | 14.30 |
| Retails | 19,96,000 | 35.02 | 33.27 |
| Total | 60,00,000 | 100% | 100% |
Shree TNB Polymers IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount in ₹ |
| Individual Investor (Min) | 2 | 4,000 | 2,12,000 |
| Individual Investor (Max) | 2 | 4,000 | 2,12,000 |
| S-HNI (Min) | 3 | 6,000 | 3,18,000 |
| S-HNI (Max) | 9 | 18,000 | 9,54,000 |
| B-HNI (Min) | 10 | 20,000 | 10,60,000 |
Shree TNB Polymers IPO Prospectus
Investors can access the offered prospectus for the Shree TNB Polymers IPO mentioned below.
About Shree TNB Polymers Ltd.
Shree TNB Polymers Limited was incorporated in 2007 and is a polymer manufacturing company based in Silvassa, Dadra and Nagar Haveli. The company manufactures piping systems and plastic products for infrastructure, agriculture and industrial applications. Its portfolio includes HDPE pipes and fittings, PP and PPH pipes and fittings, Double Wall Corrugated pipes, drip irrigation systems, sprinkler pipes, solid industrial sheets and packaging sheets. It operates manufacturing facilities in Silvassa and sells products under brands including Noble, Tirupati and Balaji (Wellpack). The company has more than 325 dealers and distributors across several Indian states and operates manufacturing facilities spread over about 23,028 square metres.
Promoters:
- Vijay Jaysukhlal Thosani
- Rasikbhai Gokalbhai Bhalodi
- Deepak Kumar Qeematrai Raura
- Shilpaben Rasikbhai Bhalodi
- Beena Vijay Thosani
- Reeta Deepak Raura
- Kishan Chandulal Patel
- Vipul Gokalbhai Bhalodi
- Hasmukhbhai Gokalbhai Bhalodi
- Jignaben Vipulbhai Bhalodi
- Jalpaben Hasmukhbhai Bhalodi
| Book Runner | Corporate Makers Capital Ltd. |
| Issue Registrar | MUFG Intime India Pvt. Ltd. |
Purpose of Shree TNB Polymers IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Est. Amount in ₹ Crores |
| For purchase of Machinery | 15.86 |
| For capital expenditure of Solar panel rooftop | 2.60 |
| For installation of pre-engineered building | 1.32 |
| For repayment of borrowings | 5.62 |
| General Corporate Purposes | – |
| Total | – |
Shree TNB Polymers Ltd.- Strengths and benefits
- Established network: The company has manufacturing facilities in Silvassa and a network of more than 325 dealers and distributors across multiple states. This provides an established distribution base for its products.
- Diverse products: The company offers polymer products across piping, irrigation, industrial sheets and packaging applications. This allows it to serve customers across infrastructure, agriculture and industrial segments.
- Quality standards: Its products and manufacturing processes are supported by various BIS and ISO certifications, including standards covering water-supply pipes, sewerage pipes, DWC pipes and irrigation products.
Shree TNB Polymers Ltd- Risks and limitations
- Raw material price volatility: The company identifies volatility in raw material prices as a business threat. Changes in input costs can affect production costs and profitability.
- Legal compliance: The company, its promoters and certain directors are involved in pending legal proceedings. The RHP states that adverse outcomes could affect the company’s reputation, business, financial position, cash flows and operations.
- Leased premises: Some manufacturing facilities and warehouses are located on leased properties. The company states that difficulties in renewing leases or relocating on commercially suitable terms could adversely affect its business.
Shree TNB Polymers IPO Review
The Shree TNB Polymers IPO is an SME book-built issue comprising a fresh issue of 60,00,000 equity shares. The IPO opens on 28 September 2026 and closes on 5 October 2026, with the price band set at ₹50-₹53 per share. Investors need to apply for a minimum of 2 lots, or 4,000 shares, which amounts to ₹2.12 lakh at the upper price band. The issue is proposed to be listed on the BSE SME platform.
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Shree TNB Polymers IPO FAQs
The Shree TNB Polymers IPO is an SME book-built IPO comprising a fresh issue of up to 60,00,000 equity shares. The shares are proposed to be listed on the BSE SME platform.
Investors can apply for the Shree TNB Polymers IPO through their broker using the ASBA facility or UPI-based application process, subject to the applicable eligibility and application requirements. Investors should enter the required bid details, select the number of lots and authorise the UPI mandate where applicable.
The company has a diversified polymer product portfolio, established manufacturing facilities, a dealer network and expansion plans. At the same time, the RHP highlights risks such as raw material price volatility, dependence on key customers, limited geographical diversification, leased premises and pending litigation. Investors should evaluate these factors along with the IPO valuation and their own risk tolerance before applying.
The Shree TNB Polymers IPO is scheduled to open on 28 September 2026 and close on 5 October 2026.
The minimum application is 2 lots, comprising 4,000 shares. At the upper price band of ₹53 per share, the minimum investment is ₹2,12,000.
The tentative allotment date for the Shree TNB Polymers IPO is 6 October 2026.
The tentative listing date for the Shree TNB Polymers IPO is 8 October 2026 on the BSE SME platform.
