Summary
Twinkle Papers IPO is a ₹27.52 crore book-built SME issue of entirely fresh issue, approximating up to 39,88,000 equity shares.
The public issue will accept bids starting 29 June 2026 up to 1 July 2026. The allotment process will conclude on 2 July 2026, and the shares are scheduled for listing on the BSE SME exchange on 6 July 2026.
The IPO carries a price band of ₹64/share to ₹69/share for every equity share offered. The market lot has been fixed at 2,000 shares, where retail applicants must invest in at least 2 lots, amounting to 4,000 shares or ₹2,76,000 at the highest price. And, HNI investors are required to apply for a minimum of 3 lots, equivalent to 6,000 shares or ₹4,14,000.
Twinkle Papers IPO–Key Details
For a quick overview, the table below summarises the key aspects of the Twinkle Papers IPO:
| IPO Open | 29 June 2026 |
| IPO Close | 1 July 2026 |
| Face value | ₹10.00/share |
| Price Band | ₹64.00/share – ₹69.00/share |
| Issue price | – |
| IPO Lot Size | 2,000 shares |
| Offer-for-sale | – |
| Fresh issue | 39,88,000 Shares (₹27.52 crore) |
| Issue Type | SME/Book-built |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹27.52 crore (39,88,000 Shares) |
| Minimum Retail Investment | ₹2,76,000 (2 lots x upper band) |
Twinkle Papers IPO–Timeline
Check the table below for the complete Twinkle Papers IPO schedule and key dates:
| Bid Open Date | 29 June 2026 |
| Bid Close Date | 1 July 2026 |
| Allotment | 2 July 2026 |
| Refunds Initiated | 3 July 2026 |
| Share Credit Date | 3 July 2026 |
| Listing | 6 July 2026 |
| UPI mandate Cut-off time | 1 July 2026 (05:00 PM) |
Twinkle Papers Limited–Key Performance Indicators (KPIs)
The following table outlines Twinkle Papers’ financial performance along with key ratios, providing a useful reference for understanding the company’s financial strength and efficiency:
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 17.75 | 14.41 | 9.51 |
| ROCE (%) | 22.83 | 29.96 | 20.48 |
| Debt-Equity Ratio (in times) | 2.09 | 3.06 | 3.13 |
| RoNW (%) | 17.75 | 14.41 | 9.51 |
| PAT Margin (%) | 4.25 | 2.76 | 1.65 |
| EBITDA Margin (%) | 11.79 | 14.63 | 10.04 |
| Price-Book Value | 3.94 | – | – |
Twinkle Papers Limited–Financial Information
| 2025 | 2024 | 2023 | |
| Revenue | 8,164.66 | 5,789.43 | 5,444.60 |
| Assets | 7,538.46 | 6,121.54 | 5,063.91 |
| Profit After Tax | 346.79 | 159.50 | 89.93 |
(Amount in ₹ lakhs)
Twinkle Papers IPO–Subscription Status
The subscription status is currently awaited!
The subscription tracker will be updated after the IPO opens for bidding.
During the issue period, applications may be submitted from 10:00 AM to 5:00 PM each day.
Twinkle Papers IPO–Grey Premium Market (GMP)
The Twinkle Papers IPO is currently commanding a grey market premium of ₹8, with the latest update recorded on 26 June 2026 at 3:59 PM.
The IPO is priced at the upper band of ₹69, which takes the estimated listing price to ₹77, reflecting a potential gain of 11.59%.
| GMP Date | GMP | Est. Listing Price | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 29-06-2026 Open | ₹2 ▼ | ₹71 (2.90%) | ₹4,000 | 29-Jun-2026 20:01 |
| 28-06-2026 | ₹9 ─ | ₹78 (13.04%) | ₹18,000 | 28-Jun-2026 23:30 |
| 27-06-2026 | ₹9 ▲ | ₹78 (13.04%) | ₹18,000 | 27-Jun-2026 23:32 |
| 26-06-2026 | ₹5 ▼ | ₹74 (7.25%) | ₹10,000 | 26-Jun-2026 23:31 |
| 25-06-2026 | ₹8 ▲ | ₹77 (11.59%) | ₹16,000 | 25-Jun-2026 23:29 |
| 24-06-2026 | ₹7 ▲ | ₹76 (10.14%) | ₹14,000 | 24-Jun-2026 23:28 |
| 23-06-2026 | ₹6 ▲ | ₹75 (8.70%) | ₹12,000 | 23-Jun-2026 23:34 |
| 22-06-2026 | ₹0 ─ | ₹69 (0.00%) | ₹0 | 22-Jun-2026 23:36 |
| 21-06-2026 | ₹0 ─ | ₹ (0.00%) | 21-Jun-2026 5:55 | |
| 20-06-2026 | ₹0 ─ | ₹ (%) | 20-Jun-2026 8:20 |
Disclaimer: The GMP is an unofficial market indicator and does not guarantee the IPO’s listing price or listing gains.
Twinkle Papers IPO–Reservation
Below is an overview of how shares in the Twinkle Papers IPO have been reserved for different investor segments:
| Investor Classification | % Allocation | Shares Offered |
| Market makers | 5.02% | 2,00,000 |
| QIBs | 4.76% | 1,90,000 |
| NIIs | 45.09% | 17,98,000 |
| Individual Investor | 45.14% | 18,00,000 |
| Total | 100% | 39,88,000 |
Twinkle Papers IPO–Lot Size
The following table provides a category-wise breakdown of the Twinkle Papers IPO share reservation:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 2 | 4,000 | ₹2,76,000 |
| Retail Maximum Application | 2 | 4,000 | ₹2,76,000 |
| S-HNI Minimum Application | 3 | 6,000 | ₹4,14,000 |
| S-HNI Maximum Application | 7 | 14,000 | ₹9,66,000 |
| S-HNI Minimum Application | 8 | 16,000 | ₹11,04,000 |
Twinkle Papers IPO–Anchor Investors Details
The Twinkle Papers IPO does not include an anchor investor portion. Therefore, no shares have been allocated to anchor investors.
Twinkle Papers IPO–Prospectus
For complete information on the IPO, please refer to the official Twinkle Papers IPO documents:
About Twinkle Papers Limited
Incorporation: 27 September 1995
Managing Director: Mr Amit Jain
The company manufactures corrugated boxes and a variety of polymer-based moulded packaging solutions. The company brings nearly 28 years of expertise in manufacturing packaging products.
Its product portfolio covers multiple packaging and material handling solutions used across different sectors.
The company supports product development through its in-house research and development team, which delivers customised polymer packaging solutions. Its manufacturing facility follows ISO 9001:2015 quality management standards.
| Name | |
| Book Running Lead Manager (BRLM) | Novus Capital Advisors Pvt Ltd |
| Registrar of the IPO | Alankit Assignments Ltd |
Objectives of Twinkle Papers Limited
The net proceeds from the public issue are proposed to be applied towards the following objectives:
| Particulars | Amount (in ₹ lakhs) |
| To fund purchase of new machinery | 650.00 |
| To repay loans | 700.00 |
| To meet working capital requirements | 800.00 |
| To meet corporate requirements | – |
Twinkle Papers Limited–Strengths
- Experienced Leadership: The company benefits from an experienced promoter with over 30 years in the packaging industry, supporting steady business growth and operational decision-making.
- Wide Product Portfolio: The company manufactures customised corrugated boxes and a broad range of plastic packaging products to meet varied customer requirements.
- Diversified Customer Base: The company serves multiple industries, helping reduce dependence on any single sector and supporting stable business performance.
- Efficient Raw Material Management: The company uses non-perishable raw materials and recycles production scrap, helping minimise wastage and improve resource utilisation.
Twinkle Papers Limited–Risks
- Dependence on Large Customers: The company primarily serves large business clients, making it less flexible in catering to smaller customers with lower order volumes.
- Limited Brand Recognition: Most products are sold under clients’ brands, which reduces the company’s visibility and recognition among end users.
- Ongoing Capital Requirements: The continuous technological advancements require regular investments in equipment and systems to maintain operational efficiency and industry competitiveness.
- Raw Material Price Volatility: The changes in raw material prices can increase production costs and working capital requirements, which may affect the company’s operating margins.
Twinkle Papers IPO–Review
The Twinkle Papers IPO is backed by improving financial performance and clearly defined fund utilisation plans that focus on strengthening the company’s operations. Its established presence in the packaging industry and diversified product portfolio also provide support to its business outlook.
However, the company continues to face challenges due to reliance on large customers, regular capital investment needs, and potential fluctuations in raw material costs.
While the grey market trend stands encouraging, investment decisions should be guided by the company’s fundamentals and careful assessment of official offer documents.
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Twinkle Papers IPO FAQs
The Twinkle Papers IPO is a book-built SME public issue comprising a fresh issue of 39.88 lakh equity shares worth ₹27.52 crore. The shares will be listed on the BSE SME platform.
To apply for the Twinkle Papers IPO, you can proceed with the ASBA facility offered by your bank, or you can also apply using a UPI-enabled trading and demat account provided by a registered stockbroker.
The Twinkle Papers IPO shows improving financial performance and positive grey market sentiment. However, investors should evaluate the company’s business fundamentals, risks, valuation, and their own investment objectives before applying.
Based on the latest grey market premium (GMP), the IPO is indicating a potential listing premium over the issue price. However, GMP is unofficial, and actual listing performance may differ depending on market conditions.
The Twinkle Papers IPO will open for subscription on 29 June 2026 and will close on 1 July 2026.
The Twinkle Papers IPO lot size is 2,000 shares. As a retail investor, you must apply for a minimum of 2 lots, which equals 4,000 shares, with a minimum investment of ₹2,76,000 at the highest price.
The basis of allotment for the Twinkle Papers IPO is expected to be finalised on 2 July 2026.
The shares of Twinkle Papers are tentatively scheduled to be listed on the BSE SME platform on 6 July 2026.
