Shree TNB Polymers IPO is a SME issue open from 25–29 September. The company is raising ₹32 Cr at a price band of ₹50 to ₹53 per share. One lot is 2,000 shares.
Shree TNB Polymers IPO Review & Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Minimum retail investment
₹1,06,000
2000 shares at the upper band of ₹53
Retail limit
1 lot
the most that fits under the ₹2 lakh retail cap
Funds blocked after close
~9 days
from the closing date to listing
Fresh issue share
93.8%
₹30 Cr of the ₹32 Cr issue
Revenue growth
+12.9%
31 Mar 2025 → 31 Mar 2026
Profit growth
+23.6%
PAT ₹5.77 Cr → ₹7.13 Cr
Net profit margin
3.6%
was 3.3% in 31 Mar 2025
Debt to equity
0.8
lower is safer
Return on equity
13.69%
ROE
GMP-implied listing gain
+9.4%
₹5 premium on a ₹53 issue price
Promoter holding
45.56% → 32.76%
diluted by 12.8 percentage points
Shree TNB Polymers is an SME issue raising ₹32 Cr, offered in a band of ₹50–₹53 per share. At the upper end that is 5.3 times the ₹10 face value, so ₹43 of every share subscribed is share premium rather than capital. SME issues list on the BSE SME or NSE Emerge platform rather than the main board. They trade in fixed lots after listing, carry no retail-versus-HNI cut-off bidding, and are usually far less liquid, so exiting a position can take longer than on the main board.
A retail application for Shree TNB Polymers needs one lot of 2000 shares, which works out to ₹1,06,000 at the upper band of ₹53. SME lots are deliberately sized above ₹1,00,000, so this is a far larger single commitment than a mainboard application and rules out most small investors. Retail applications are capped at ₹2,00,000, which here is 1 lot; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 10 lots.
For Shree TNB Polymers, bidding runs 25-29 Sep, allotment is finalised on 30 Sep 2026, the shares list on 8 Oct 2026. Applications that do not receive an allotment have their UPI mandate released around 1 day after the issue closes. Counting from the close of bidding, money stays blocked for roughly 9 days before listing decides what the holding is worth.
The issue is reserved 47.43% to qualified institutional buyers, 14.3% to non-institutional investors, 33.27% to retail. At 33.27%, the retail portion is on the narrower side, so retail allotment turns into a lottery quickly once the book fills. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.
The issue splits into ₹30 Cr of fresh capital (93.8%) and ₹2 Cr as an offer for sale. The company keeps the fresh portion for the objects of the issue, while the rest is existing shareholders monetising their stake.
Revenue moved from ₹175.7 Cr in 31 Mar 2025 to ₹198.31 Cr in 31 Mar 2026 (+12.9%), while profit after tax went from ₹5.77 Cr to ₹7.13 Cr (+23.6%). Profit grew faster than revenue, which points to operating leverage or a better cost mix rather than growth bought purely through volume.
MUFG Intime India Pvt.Ltd. is the registrar for this issue, which means the allotment status for Shree TNB Polymers is published on their portal from 30 Sep 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.
A grey market premium of ₹5 on the upper band of ₹53 implies a listing gain of roughly 9.4%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.
What looks good
- Profit is growing faster than revenue, suggesting improving operating efficiency.
What to watch
- Net margin is thin at 3.6%, leaving little cushion if costs rise.
- Promoter holding falls to 32.76% after the issue, below majority control.
The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.
What is Shree TNB Polymers IPO?
Shree TNB Polymers IPO is a SME issue open from 25–29 September. The company is raising ₹32 Cr at a price band of ₹50 to ₹53 per share. One lot is 2,000 shares.
When does Shree TNB Polymers IPO open and close?
The issue is open 25–29 September. Bids must be placed, and any UPI mandate approved, before the cut-off on the closing day.
What is the Shree TNB Polymers IPO price band?
The price band is ₹50 to ₹53 per equity share, against a face value of ₹10. Retail investors may bid at cut-off, meaning they accept the final discovered price within this band.
What is the Shree TNB Polymers IPO lot size?
The minimum application is 2,000 shares, and bids must be in multiples of that lot.
What is the Shree TNB Polymers IPO issue size?
The total issue size is ₹32 Cr.
How is Shree TNB Polymers IPO reserved between investor categories?
The issue is reserved as retail 33.27%, QIB 47.43%, HNI 14.3%. If the retail portion is oversubscribed, allotment there is decided by a lottery on lot-sized applications rather than in proportion to the amount applied for.
When is the Shree TNB Polymers IPO allotment date?
Basis of allotment is expected to be finalised on 30 Sep 2026. You can check your status on the registrar's website (MUFG Intime India Pvt.Ltd.) using your PAN.
When does Shree TNB Polymers IPO list?
Listing is expected on 8 Oct 2026, following the T+3 timeline that applies to Indian IPOs.
