Overview
Updated 12 days agoPanchatv Bharat Limited is a textile company engaged in the manufacturing and wholesale distribution of denim fabrics under the brand name 'NJD'. The company operates through a mix of third-party manufacturing arrangements and a limited self-manufacturing setup using leased loom machinery.
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 | 1,000 | ₹1,40,000 |
| bNII (min) | 8 | 8,000 | ₹11,20,000 |
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 | Textile |
| Price band | ₹140 |
| Final issue price | ₹140.00 |
| Face value | ₹10 per share |
| Lot size | 1,000 shares |
| Minimum investment | ₹1,40,000 |
| Issue size | ₹25.00 Cr |
| Fresh issue | ₹21.08 Cr |
| Market cap at upper band | ₹81.93 Cr |
| P/E at upper band | 15.1x |
| Registrar | Maashitla Securities Private Limited |
| Lead managers | Not stated |
| NSE symbol | PANCHATV |
| ISIN | INE0VXN01011 |
Fresh issue vs offer for sale
Shareholder quota and promoter holding
Company & business
Incorporated in March 2024, Panchatv Bharat Limited acquired the textile businesses of its promoters' proprietorship firms, M/s SR Fabrics, M/s SG Trader, and M/s Neelmadhav Textiles. The company specializes in the production and distribution of unstitched denim fabric, catering to garment manufacturers, wholesalers, and distributors. It follows an asset-light business model, primarily outsourcing manufacturing processes to third-party facilities in Ahmedabad while maintaining quality control through its own supervision. The company is currently expanding its operations and integrating its value chain by establishing a limited self-manufacturing setup. Its products are distributed across several Indian states, including Delhi, Uttar Pradesh, Gujarat, and Rajasthan.
Objects of the issue — how the money will be used
- Capital Expenditure for Acquisition of Property (₹4.5 Cr)
- Working Capital Requirement (₹11.5 Cr)
- General Corporate Purpose (₹3 Cr)
Key strengths
- Experienced promoters with over three decades of industry expertise
- Established market presence in key textile hubs like Gandhi Nagar and Karol Bagh
- Asset-light business model leveraging third-party manufacturing
- Strong customer base with over 60 active distributors
- Scalable business model with potential for value chain integration
Key risks
- Limited operating history as a corporate entity
- Reliance on third-party manufacturers without exclusivity
- High dependency on top customers with no long-term contracts
- Concentration of supplier base in Gujarat
- Negative cash flows from operating and investing activities in recent periods
- Geographical concentration of revenue in Delhi and Uttar Pradesh
- Inconsistent statutory filings and compliance history
- Exposure to raw material price volatility, particularly cotton yarn
Promoters
Sanjay Gupta, Sooraj Gupta
Decoded from the DRHP 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 |
|---|---|---|---|---|---|---|
| FY23 | 24.45 | -- | 0.34 | 12.45 | 1.10 | 7.08 |
| FY24 | 39.31 | -- | 2.02 | 16.88 | 3.39 | 7.66 |
| FY25 | 48.99 | -- | 2.83 | 27.16 | 9.05 | 7.74 |
Key performance indicators · FY25
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 (₹) |
|---|---|---|---|---|---|
| Panchatv Bharat this issue | 49.0 | 7.94 | 15.1x | 31.25 | 22.10 |
| Anjani Synthetics Limited | 224.3 | 2.25 | 11.3 | 3.87 | 58.22 |
This issue is priced at 15.1x P/E against a peer median of 11.3x: a premium of 33%. A measurement, not a verdict.
Other Textile IPOs
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Vivekanand CotspinVIVEKANAND · BSE · SME · Textile+7.8%28 Sep
Sonaselection IndiaSONA · BSE, NSE · Mainboard · Textile+8.5%24 Sep Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.