Twinkle Papers IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 2.09x | 2.09x |
| NII | 0.00x | 0.12x | 0.13x |
| bNII > ₹10L | 0.00x | 0.13x | 0.13x |
| sNII 2-10L | 0.00x | 0.13x | 0.13x |
| Retail | 0.17x | 0.26x | 0.26x |
| Total | 0.08x | 0.27x | 0.29x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 54.96 | 58.75 | 83.98 | 73.13 |
| Expense | 53.72 | 55.95 | 79.52 | 68.08 |
| Profit (PAT) | 0.90 | 1.61 | 3.33 | 5.40 |
| Total Assets | 50.64 | 61.22 | 75.38 | 93.37 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Twinkle Papers This IPO | 3.36 | - | 17.75 | 17.50 | - |
| TPL Plastech Ltd. | 1.58 | 39.33 | 8.10 | 19.50 | 12.32 Cr |
| Prima Plastic Ltd. | 4.54 | 25.77 | 6.40 | 71.05 | 5.00 Cr |
| Pyramid Technoplast Ltd. | 3.83 | 40.37 | 5.38 | 71.11 | 14.06 Cr |
Promoters & Holding Pattern
Promoters: Mr. Amit Jain, Mr. Ayush Jain and Ms. Ruchi Jain
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,11,62,992 | 98.99% |
| Promoter Holding Post Issue | 1,51,50,992 | 72.94% |
Strengths & Risks
- Strong institutional (QIB) demand — 2.1x.
- Revenue grew 43% in the latest reported year.
- Strong return on equity — 18%.
- SME grey-market premiums are a weaker guide than Mainboard ones — where a premium was quoted, GMP called the listing direction right 68.5% of the time across 108 SME listings we tracked, against 81.9% on Mainboard.
- Grey-market premium is slipping during the bidding window.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Twinkle Papers
Twinkle Papers Limited manufactures a wide range of plastic and packaging products using advanced technologies such as blow molding, injection molding, and rotational molding. Its products are supplied to industries including food, dairy, construction chemicals, pharmaceuticals, and textiles. The company’s product portfolio includes corrugated boxes, multi-colored printed fiberboard cartons, HDPE drums and jerrycans, plastic crates, heavy-duty pallets, molded plastic furniture, and dustbins. These products are designed to meet the packaging, storage, transportation, and material-handling needs of various industries.
Company Contact Information
Twinkle Papers Ltd., Ludhiana Road, Malerkotla, Distt Sangrur, Malerkotla, Punjab, 148023
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| To meet out the capital expenditure for expansion at the existing manufacturing facility by purchase of new machinery | 6.50 |
| To repayment of portion of loans availed by the Company | 7.00 |
| To meet the Working Capital requirements of the Company | 8.00 |
| To meet the General Corporate Purposes | - |
Resources & Documents
Frequently Asked Questions
Twinkle Papers IPO GMP — What It Means
How much weight does a GMP like this carry? Of the 47 SME IPOs we have tracked with a final GMP under 10%, 18 listed above the issue price, and the typical gap between the GMP-implied and the actual listing gain was 4.5 points. Read it as a guide to direction, not a price target — and alongside subscription demand and the company's fundamentals.
See the full Twinkle Papers GMP history and trend, or learn how grey market premium works and how reliable it is.
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