Atharva Polyplast Ipo
Atharva Polyplast IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Horizon Management Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | June 30, 2026 |
| IPO Close Date | July 2, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹55 to ₹60 Per Share |
| Issue Size | Approx ₹27 Crores |
| Fresh Issue | Approx ₹27 Crores |
| Issue Type | Bookbuilding Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ₹2,40,000 |
| Retail Maximum | 2 | 4,000 | ₹2,40,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,60,000 |
| S-HNI Maximum | 8 | 16,000 | ₹9,60,000 |
| B-HNI Minimum | 9 | 18,000 | ₹10,80,000 |
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 12,74,000 Shares | 28.31% |
| QIB (Ex. Anchor) | 8,56,000 Shares | 19.02% |
| NII Shares Offered | 6,42,000 Shares | 14.27% |
| Retail Shares Offered | 15,02,000 Shares | 33.38% |
| Anchor Bidding Date | June 29, 2026 |
| Anchor Investors List | |
| Shares Offered | 12,74,000 Shares |
| Anchor Size | 7.64 Cr. |
| lock-in period end date 50% shares (30 Days) | Aug 2, 2026 |
| lock-in period end date 50% shares (90 Days) | Oct 1, 2026 |
| IPO Open Date: | June 30, 2026 |
| IPO Close Date: | July 2, 2026 |
| Basis of Allotment: | July 3, 2026 |
| Refunds: | July 6, 2026 |
| Credit to Demat Account: | July 6, 2026 |
| IPO Listing Date: | July 7, 2026 |
| IPO Bidding Cut-off Time: | July 2, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,23,49,998 | 100% |
| Promoter Holding Post Issue | 1,68,49,998 | 73.29% |
| Purpose | Crores |
| Funding Capital Expenditure of the Company | ₹3.00 |
| Repayment and/or pre-payment, in full or part, of borrowing availed by the Company | ₹3.00 |
| Funding working capital requirements of the Company | ₹13.00 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹46.82 | ₹46.02 | ₹0.71 | ₹32.92 |
| 2024 | ₹43.09 | ₹40.48 | ₹2.00 | ₹32.66 |
| 2025 | ₹49.06 | ₹42.51 | ₹5.29 | ₹30.88 |
| Jan 2026 | ₹43.90 | ₹37.96 | ₹4.73 | ₹42.54 |
| KPI | Values |
| ROE: | 50.99% |
| ROCE: | 35.31% |
| EBITDA Margin: | 19.32% |
| PAT Margin: | 11.12% |
| Debt to equity ratio: | 0.53 |
| Earning Per Share (EPS): | ₹4.28 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 40.63% |
| Net Asset Value (NAV): | ₹10.53 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Master Components Limited | 16.23 | 39.16 | 22.01% | 73.73 | 42.40 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |