NSE SME Utkal Speciality Industries India?s IPO ends with 1.60 times subscription

The offer received bids for 83.76 lakh shares as against 52.34 lakh shares on offer.

The initial public offer (IPO) of Utkal Speciality Industries India received bids for 83,76,000 shares as against 52,34,000 shares on offer. The issue was subscribed 1.60 times.

Qualified Institutional Buyers (QIBs) bid for 56,000 shares, Non-Institutional Investors (NIIs) for 21,12,000 shares, while individual investors (IND category bidding for 2 lots) placed bids for 62,08,000 shares.

The issue opened for bidding 10 June 2026 and it closed on 12 Friday 2026. The price band of the IPO was fixed between Rs 62 to Rs 66 per share. The minimum order quantity is 2,000 equity shares. The equity shares will list on NSE?s SME platform.

The IPO comprised fresh issue of 52,34,000 equity shares.

The company intends to utilise the net proceeds for funding incremental working capital requirements of the company, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, funding capital expenditure requirements towards the purchase of machinery for a new manufacturing facility at Khurda, Odisha, general corporate purposes and meeting the offer-related expenses.

Utkal Speciality Industries India manufactures paper-based products and packaging materials catering to a wide range of consumer needs. The company offers sustainable and convenient paper-based solutions for both everyday use and special occasions, with a focus on quality, production efficiency, and product design. Despite being a relatively recent entrant, it has established a stable market presence by providing reliable products, maintaining an efficient supply chain, and adapting to evolving consumer preferences. As of 31 December 2025, the company had 50 employees.

The company recorded revenue from operations of Rs 39.78 crore and net profit of Rs 5.48 crore for the period ended 31 December 2025.

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