Shree TNB Polymers Ltd

SHREETNB Shree TNB Polymers Ltd

BSE IPO

Bidding dates28 Sep 2026 - 05 Oct 2026

Price range₹50 - ₹53

Min. investment₹2,12,000

Issue size31.8 Cr

Lot size2000 Shares

IPO DocRHP

IPO Timeline

Start date

28 Sep 2026

End date

05 Oct 2026

Allotment date

06 Oct 2026

Refund initiation

07 Oct 2026

Share credit

07 Oct 2026

Deactivate mandate

08 Oct 2026

About company

Incorporated on March 07, 2007, Shree TNB Polymers Limited is a Silvassa-based polymer manufacturing company specializing in piping systems and plastic solutions. The Company’s products are designed to meet the evolving demands of critical applications such as irrigation and agriculture, potable water supply schemes, sewerage and drainage systems, telecom cable protection, construction, and industrial usage.

The company offers a diversified product portfolio comprising HDPE pipes & fittings, PP (Polypropylene) and PPH (Polypropylene Homopolymer) pipes & fittings, Double Wall Corrugated (DWC) pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well pack sheets for packaging and industrial applications.

It operates two manufacturing facilities at Silvassa across 23,028 sq. mtrs. with a combined installed capacity of 24,000 MT per annum, supported by in-house quality testing laboratories and BIS/ISO certifications across multiple Indian Standards. As of March 31, 2026, the company employed 318 full-time employees and maintained a 325+ dealer/distributor network across India, with exports to UAE, Sri Lanka, Oman, and Germany.

As at July 31, 2026, we had 298 full-time employees and 39 contract labourers.

Founded in 2007

Managing director Rasikbhai Gokalbhai Bhalodi

Parent organisation Shree TNB Polymers IPO

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Strengths and Risks

Strengths

The company manufactures a wide array of polymer products—including HDPE, PP, PPH, and DWC pipes and fittings, sprinkler and drip irrigation systems, as well as industrial and packaging sheets. This breadth allows it to serve multiple end-use verticals like agriculture, infrastructure, water management, and packaging.

Shree TNB Polymers has demonstrated steady improvement in its financials. Revenue reached ?198.31 crore in FY26, and its profitability metrics improved, with EBITDA margins expanding to ~9.69% and PAT margins rising to ~3.60%.

Operating out of Silvassa with an established annual installed capacity, the firm is deploying a portion of its IPO proceeds toward upgrading machinery, installing rooftop solar panels for power cost optimization, and building a Pre-Engineered Building (PEB) structure for a new facility.

Risks

The company's primary inputs—HDPE, PP, and other polymers—are petroleum derivatives whose prices fluctuate alongside crude oil markets and global supply dynamics. Unhedged spikes can compress operating margins if input cost increases cannot be passed on entirely to customers.

The polymer manufacturing and piping sector inherently demands high working capital to manage large inventory levels and trade receivables, which can occasionally constrain free cash flows.

The industry is fragmented, facing competitive pressures from both large organized players with economies of scale and unorganized local manufacturers competing heavily on pricing.