Shree TNB Polymers IPO
Shree TNB Polymers IPO Listing Day Performance
Shree TNB Polymers listed on BSE SME on 08 October 2026 at ₹60.00, a 15.38% premium over the issue price of ₹52. A retail investor allotted the minimum application of 4,000 shares (2 lots) gained ₹32,000 at the listing price.
GMP vs actual listing
| Last GMP before listing | ₹2 (+3.9%) |
| GMP-implied listing | ₹54 |
| Actual listing | ₹60.00 |
| Difference | +₹6 (+11.1%) |
Demand going into listing
| Subscribed overall | 2.06× |
| QIB | 1.7× |
| NII | 3.33× |
| Retail | 1.72× |
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Final |
|---|---|---|---|---|---|---|
| QIB | 0.41x | 0.75x | 0.75x | 0.75x | 0.75x | 1.70x |
| NII | 0.66x | 1.08x | 1.23x | 1.95x | 1.45x | 3.33x |
| bNII > ₹10L | 0.94x | 1.49x | 1.67x | 2.65x | — | 3.04x |
| sNII 2-10L | 0.11x | 0.23x | 0.33x | 0.54x | — | 3.90x |
| Retail | 0.05x | 0.10x | 0.51x | 0.84x | 0.84x | 1.72x |
| Total | 0.29x | 0.49x | 0.73x | 1.05x | 0.98x | 2.06x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 207.97 | 175.70 | 198.31 |
| Expense | 201.48 | 168.85 | 188.15 |
| Profit (PAT) | 5.03 | 5.77 | 7.13 |
| Total Assets | 105.03 | 127.38 | 145.26 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Shree TNB Polymers This IPO | 4.65 | - | 13.69 | 36.29 | - |
| Captain Pipes Limited | 0.19 | 40.37 | 7.15 | 2.78 | 77.73 Cr |
| Texmo Pipes and Products Limited | 3.86 | 15.69 | 5.13 | 77.19 | 352.59 Cr |
| Malpani Pipes and Fittings Limited | 8.38 | 7.70 | 17.65 | 51.67 | 163.03 Cr |
Strengths & Risks
Shree TNB Polymers's disclosed financials and issue structure didn't surface a standout strength on our metrics. Review the fundamentals and peer valuation above before deciding.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
From this issue's live data. Not investment advice — read the RHP.
Company Information
Shree TNB Polymers at a glance
From the company's description: “Shree TNB Polymers, founded on March 7, 2007, is one of the leading polymer manufacturing firms, focusing on piping systems and plastic solutions.”
Shree TNB Polymers is raising ₹31.2 crore through an IPO on the BSE SME. All of it is a fresh issue: there is no offer for sale, so every rupee raised goes to the company rather than to selling shareholders. Main stated uses of the fresh money: Capital Expenditure for purchase of machinery (₹15.86 crore), Repayment of certain borrowings (₹5.62 crore) and Capital Expenditure for the purchase and installation of Solar panel/ Roof top (₹2.6 crore).
Revenue went from ₹208 crore in 2024 to ₹198 crore in 2026, down 4.6% over 2 years. Profit after tax went from ₹5.03 crore to ₹7.13 crore, a net margin of 3.6% in the latest year.
Debt stands at 0.8 times equity.
Written from the issue's offer-document figures shown on this page. Not investment advice.
Company Contact Information
Shree TNB Polymers Ltd., Sr. No. 132/1/1/4,, Behind Prince Pipes, Athalroad, Silvassa, Dadra and Nagar Haveli and Daman and Diu, 396230
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Capital Expenditure for purchase of machinery | 15.86 |
| Capital Expenditure for the purchase and installation of Solar panel/ Roof top | 2.60 |
| Part finances the capital expenditure for construction/ installation of Pre-Engineered Building (PEB) structure for new manufacturing facility | 1.32 |
| Repayment of certain borrowings | 5.62 |
| General Corporate Purpose | - |
Resources & Documents
Anchor Investors
Shree TNB Polymers IPO - Quick Take
Shree TNB Polymers has set a price band of Rs 47–Rs 52 per share for an issue size of Rs 31 crore. The stock listed with a 15.38% gain versus its issue price on October 08, 2026.
The issue is promoted by Vijay Jaysukhlal Thosani, Rasikbhai Gokalbhai Bhalodi, Deepak Kumar Raura, Shilpaben Rasikbhai Bhalodi, Beena Vijay Thosani, Reeta Deepak Raura, Kishan Chandulal Patel, Vipul Gokalbhai Bhalodi, Hasmuk… with Corporate Makers Capital Ltd. acting as lead manager. Net proceeds will primarily be used towards capital Expenditure for purchase of machinery (Rs 16 crore) and capital Expenditure for the purchase and installation of Solar panel/ Roof top (Rs 3 crore).
On fundamentals, the company is posting revenue growth of 12.9%, a profit margin of 3.6%, return on equity of 13.7% in its most recent reported period. Listed peers in this segment include Captain Pipes Limited (P/E 40.37x) and Texmo Pipes and Products Limited (P/E 15.69x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Shree TNB Polymers IPO: Lead Manager & Registrar Track Record
How the firm running this issue and its registrar have fared on the other IPOs we track. Each firm's figures leave out Shree TNB Polymers itself, so they describe what came before it.
- Shree TNB Polymers listed at +15.4% on day one; the median of 193 listings was +1.5% (better than 75% of them).
- Subscribed 2.06x against a median of 4.03x across 192 issues (higher than 34%).
- Average listing-day move across all 194 SME listings we track: +11.6%.
| Firm | Other IPOs | Listed at / above issue | Avg move | Median |
|---|---|---|---|---|
| Corporate Makers Capital Ltd. Lead manager | 8 0 MB · 8 SME | 62% 5 of 8 | −0.3% | +0% |
| MUFG Intime India Pvt.Ltd. Registrar | 65 44 MB · 21 SME | 74% 46 of 62 | Check allotment → | |
Recent listings managed by Corporate Makers Capital Ltd. (5)
Best: Vegorama Punjabi Angithi +53.4% · Weakest: Jivial Industries −20%
| IPO | Listed | Listing-day move |
|---|---|---|
| Apana Logistics | 15 Sep 2026 | +0% |
| Fly-Hi Maritime | 08 Sep 2026 | −20% |
| ENS Enterprises | 21 Aug 2026 | +4.4% |
| Q&T Foods | 19 Aug 2026 | +0% |
| Sham Foam | 18 Aug 2026 | −20% |
A SEBI-registered merchant banker that runs the issue: due diligence, drafting the offer document, setting the price band with the company, and marketing the IPO to investors.
Finalises the basis of allotment, credits shares to demat accounts, releases blocked funds for unsuccessful bids and handles investor queries about the issue.
Listing-day move = exchange opening price vs issue price (band ceiling where the final price isn't recorded). Counts cover IPOs we track only. Past listings don't predict this one; this is not investment advice.
Frequently Asked Questions
Shree TNB Polymers IPO GMP — What It Means
Its last GMP before listing was 3.9%. Of the 54 SME IPOs we have tracked with a final GMP under 10%, 21 listed above, 14 flat and 19 below the issue price; Shree TNB Polymers listed 15.4% above its issue price.
See the full Shree TNB Polymers GMP history and trend, or learn how grey market premium works and how reliable it is.
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