Injecto Polymers IPO
IPO Open Now
₹2,35,200 / 2,400 shares
Price Range: ₹98 – ₹100 per share
Bidding Dates11 Sept, 2026 – 16 Sept, 2026
Min Investment₹2,35,200
Lot Size1,200
Issue Size₹56.12 Cr.
IPO Overview
IPO Subscription Details
Retail Subscription0.25x
Non-Institutional Buyers (sHNI)0.03x
Non-Institutional Buyers (bHNI)0.10x
Qualified Institutional Buyers (QIB)1.02x
Total Subscription0.29xOver-subscribed
IPO Timeline
IPO Offer Start11 Sept, 2026
IPO Offer Ends16 Sept, 2026
Allotment Finalisation17 Sept, 2026
Refund Initiation18 Sept, 2026
Listing of Shares21 Sept, 2026
IPO Analysis
Strengths
- The company has forged healthy relationships with customers across diverse industries, consistently delivering reliable and high-quality products. The company's expertise in designing and delivering customized packaging solutions provides customers flexibility as per their requirements.
- The company provides a comprehensive range of packaging solutions like Polypropylene Woven Fabrics, Polypropylene Sacks/Bags, BOPP bags, Leno Bags, FIBC Bags suitable for wide array of usage like food items, chemicals, and mining materials.
- The company operates two manufacturing units strategically located in West Bengal with proximity to Kolkata, Odisha, Jharkhand, Bihar and major rice producing belts as well as major industrial zones having good connectivity to ports, airports, and highways.
Risks
- The company derives a significant portion of revenue from a limited number of customers, with the top 10 customers contributing 40.07% of FY26 revenue. Loss of key customers, reduced orders, delayed payments, or adverse changes in terms could materially affect revenue, cash flows, and profitability.
- Trading activities contributed ₹18,912.21 lakhs, or 50.36% of FY26 revenue, exposing the company to price volatility, demand-supply fluctuations, higher inventory requirements, low margins, and counterparty defaults. Adverse developments in trading operations could materially affect financial performance and growth.
- The company generated 85.27% of FY26 revenue from West Bengal and 7.04% from other eastern states. Economic, political, regulatory, infrastructure, natural disaster, or socio-political disruptions in the region could materially affect revenue and operations.
Objects of the Issue
The company proposes to utilize funds for full or partial repayment of certain borrowings from banks/financial institutions to reduce outstanding indebtedness and debt servicing costs, maintain favorable debt to equity ratio and enable utilization of internal accruals for business growth.
The company plans to establish additional manufacturing facility at Unit-I to add capacity and enhance production capabilities. The expansion includes civil construction, purchase of plant and machinery, and utilities installation.
The company proposes to deploy balance proceeds towards general corporate purposes including meeting operating expenses, development costs for capex, business development or marketing initiatives, and other exigencies as approved by management.
Yearly Financial Results
Standalone — ₹ Crores
| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue | 109.05 | 261.48 | 375.53 |
| Expenses | 104.86 | 250.66 | 352.84 |
| Other Income | 0.75 | 0.38 | 0.30 |
| Total Revenue | 109.80 | 261.85 | 375.83 |
| Profit Before Tax | 4.94 | 11.20 | 23.45 |
| Net Profit | 4.44 | 8.11 | 16.01 |
Balance Sheet
Standalone — ₹ Crores
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Total Assets | 121.25 | 170.57 | 270.93 |
| Current Assets | 85.88 | 127.70 | 227.16 |
| Fixed Assets | 35.37 | 42.87 | 43.77 |
| Total Equity & Liabilities | 121.25 | 170.57 | 270.93 |
| Total Liabilities | 100.03 | 123.25 | 207.59 |
| Current Liabilities | 66.70 | 106.15 | 195.84 |
| Non Current Liabilities | 33.33 | 17.10 | 11.75 |
| Total Equity | 21.22 | 47.33 | 63.34 |
Cash Flow
Standalone — ₹ Crores
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Net Cash Flow | -0.03 | -0.02 | -0.08 |
| Investing Activities | -2.92 | -9.44 | -3.07 |
| Operating Activities | -12.95 | -16.90 | -48.80 |
| Financing Activities | 15.84 | 26.31 | 51.79 |
About Injecto Polymers
Injecto Polymers Limited is a packaging company engaged in manufacturing diverse packaging products including Polypropylene Woven Fabrics, PP Woven Bags, BOPP bags, FIBC bags, and non-woven bags, alongside trading plastic granules and PVC resins. The company operates two manufacturing units in West Bengal with a combined installed capacity of 18,070.
Documents
Source: DRHP
Discussion
Share your thoughts, ask questions, or discuss this IPO with other investors.
No comments yet. Be the first to share your thoughts!
Leave a Comment