Overview
Updated 12 days agoInjecto Polymers Limited is an Indian company engaged in the manufacturing of various plastic packaging products like PP woven fabrics, bags, and FIBC bags, as well as trading in plastic granules and PVC resins. The company is raising funds through an initial public offering to finance capital expenditure for its Phase IV expansion and for general corporate purposes.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,20,000 |
| bNII (min) | 9 | 10,800 | ₹10,80,000 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE |
| Segment | SME |
| Sector | Plastic Products |
| Price band | ₹98–100 |
| Final issue price | ₹100.00 |
| Face value | ₹98 per share |
| Lot size | 1,200 shares |
| Minimum investment | ₹1,20,000 |
| Issue size | ₹56.00 Cr |
| Market cap at upper band | ₹208 Cr |
| P/E at upper band | 9.5x |
| Registrar | Integrated Registry Management Services Private Limited |
| Lead managers | Indcap Advisors Private Limited |
| NSE symbol | INJECTO |
| ISIN | INE1JJF01019 |
Shareholder quota and promoter holding
Company & business
Injecto Polymers Limited, incorporated in 1998, is a manufacturer of diverse packaging products including Polypropylene (PP) Woven Fabrics, PP Woven Bags, Biaxially Oriented Polypropylene (BoPP) bags, leno bags, and Flexible Intermediate Bulk Container (FIBC) bags. The company operates two manufacturing units in West Bengal. Its products cater to various industries such as agriculture, construction, food grains, textiles, and chemicals. The company also engages in the trading of plastic granules and Polyvinyl Chloride (PVC) resins. The company is led by its promoters, Ramesh Kumar Rateria and Ashok Kumar Rateria, who have extensive experience in the polymer and packaging industry.
Objects of the issue — how the money will be used
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings (₹10 Cr)
- Funding the Capital expenditure towards setting up phase IV at our existing manufacturing facility, Unit-I (₹30.5 Cr)
- General Corporate Purposes
Key strengths
- Strong customer relationships
- Multi-product portfolio and customization capabilities
- Locational advantage of manufacturing units
- Quality standard certifications and quality tests
- Experienced promoter and senior management team
Key risks
- Significant revenue concentration from a limited number of customers
- Dependence on trading activities which are subject to price volatility and low margins
- Geographic concentration of operations in Eastern India/West Bengal
- Reliance on a limited number of suppliers for raw materials
- Involvement in ongoing legal proceedings
- Past instances of non-compliance in statutory filings
- Manufacturing facilities are on lease, not owned
- Negative cash flows from operating activities in recent years
Promoters
Ramesh Kumar Rateria, Ashok Kumar Rateria, Suman Financial Advisory Private Limited, Suman Towers Private Limited, Vinayak Tie-Up Private Limited, Nivedeeka Commercial Private Limited, Bhagyashri Trading Private Limited
Decoded from the RHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 109.05 | -- | 4.44 | 121.25 | 21.22 | 85.61 |
| FY25 | 261.48 | -- | 8.11 | 170.57 | 47.33 | 101.11 |
| FY26 | 375.53 | -- | 16.01 | 270.93 | 63.34 | 165.19 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Injecto Polymers this issue | 375.5 | 10.55 | 9.5x | 25.28 | 41.73 |
| Emmbi Industries Limited | 454.0 | 4.22 | 19.4 | 4.06 | -- |
| RDB Rasayans Limited | 143.2 | 19.17 | 9.0 | 13.74 | -- |
This issue is priced at 9.5x P/E against a peer median of 14.2x: a discount of 33%. A measurement, not a verdict.
Other Plastic Products IPOs
Same sector, listed just before and after this one, with their listing-day change.
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Shakti Polytarp LimitedSHAKTIPOLY · BSE · SME · Plastic Products−3.3%22 Sep
Manika PlastechMANIKA · BSE, NSE · Mainboard · Plastic Products+0.3%21 Sep
Phychem TechnologiesPHYCHEM · BSE · SME · Plastic Products+8.9%7 Sep Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.