BSE SME Shree TNB Polymers loses steam after premium listing

Shree TNB Polymers traded at Rs 57 on the BSE, representing a 7.55% premium over its issue price of Rs 53.

The scrip was listed at Rs 60, a premium of 13.21% to the IPO price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 60 and a low of Rs 57. About 15.64 lakh shares changed hands on the BSE.

Shree TNB Polymers' IPO was subscribed 1.91 times. The IPO opened for subscription on 28 September 2026 and closed on 5 October 2026. The price band was Rs 50 to Rs 53 per share.

The book-built issue comprised a fresh issue of 60 lakh equity shares aggregating Rs 31.80 crore.

The company raised Rs 9.04 crore from five anchor investors on 25 September 2026 through the allocation of 17.06 lakh shares at Rs 53 per share.

The company will use Rs 15.86 crore of the net proceeds for purchasing machinery, Rs 2.60 crore for solar panels and rooftop installation, Rs 1.32 crore for construction and installation of a pre-engineered building for a new manufacturing facility and Rs 5.62 crore for repayment of certain borrowings. The company has allocated Rs 2.53 crore for general corporate purposes.

Following the IPO, promoter and promoter group shareholding declined to 32.76% from 45.56% before the issue.

Incorporated in 2007, Shree TNB Polymers is a Silvassa-based polymer manufacturing company specialising in piping systems and plastic solutions. Its products cater to irrigation and agriculture, potable water supply, sewerage and drainage systems, telecom cable protection, construction and industrial applications.

Its product portfolio includes HDPE pipes and fittings, PP and PPH pipes and fittings, double-wall corrugated pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and well pack sheets.

The company operates two manufacturing facilities in Silvassa across 23,028 sq m, with a combined installed capacity of 24,000 tonnes per annum. It had a dealer and distributor network of more than 325 across India and exports to the UAE, Sri Lanka, Oman and Germany as of 31 March 2026.

As of 31 July 2026, the company employed 298 full-time employees and 39 contract workers.

Financially, Shree TNB Polymers reported total income of Rs 198.31 crore in FY26, up 12.86% from Rs 175.70 crore in FY25. Profit after tax rose 23.57% to Rs 7.13 crore from Rs 5.77 crore, while EBITDA increased 24.11% to Rs 19.20 crore from Rs 15.47 crore.

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