Striders Impex Ipo
Striders Impex IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Capital Square Advisors 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 | February 26, 2026 |
| IPO Close Date | March 2, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹71 to ₹72 Per Share |
| Issue Size | Approx ₹36 Crores |
| Fresh Issue | Approx ₹31 Crores |
| Offer for Sale: | Approx 5,08,800 Equity Shares |
| Issue Type | Book build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 3200 | ₹2,30,400 |
| Retail Maximum | 2 | 3200 | ₹2,30,400 |
| S-HNI Minimum | 3 | 4,800 | ₹3,45,600 |
| S-HNI Maximum | 8 | 12800 | ₹9,21,600 |
| B-HNI Minimum | 9 | 14400 | ₹10,36,800 |
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 14,33,600 Shares | 28.44% |
| QIB (Ex. Anchor) | 9,56,800 Shares | 18.98% |
| NII Shares Offered | 7,20,000 Shares | 14.29% |
| Retail Shares Offered | 16,76,800 Shares | 33.27% |
| Anchor Bidding Date | February 25, 2026 |
| Anchor Investors List | |
| Shares Offered | 14,33,600 Shares |
| Anchor Size | 10.32 Cr. |
| lock-in period end date 50% shares (30 Days) | April 3, 2026 |
| lock-in period end date 50% shares (90 Days) | June 2, 2026 |
| IPO Open Date: | February 26, 2026 |
| IPO Close Date: | March 2, 2026 |
| Basis of Allotment: | March 4, 2026 |
| Refunds: | March 5, 2026 |
| Credit to Demat Account: | March 5, 2026 |
| IPO Listing Date: | March 6, 2026 |
| IPO Bidding Cut-off Time: | March 2, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,40,85,680 | 95.49% |
| Promoter Holding Post Issue | 1,86,16,880 | 69.52% |
| Purpose | Crores |
| Funding of working capital requirements of the Company | ₹10.00 |
| Investment in Striders FZ LLC, wholly owned subsidiary, to fund its working capital requirements; | ₹4.50 |
| Investment in a newly wholly owned subsidiary in mainland UAE to fund its working capital requirements | ₹6.50 |
| Repayment of Loans | ₹3.00 |
| General corporate purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2025 | ₹61.95 | ₹53.57 | ₹8.41 | ₹48.70 |
| Dec 2025 | ₹49.61 | ₹44.41 | ₹4.01 | ₹58.83 |
| KPI | Values |
| ROE: | 55.81% |
| ROCE: | 57.96% |
| EBITDA Margin: | 15.07% |
| PAT Margin: | 13.59% |
| Debt to equity ratio: | 1.36 |
| Earning Per Share (EPS): | ₹6.27 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 56.51% |
| Net Asset Value (NAV): | ₹11.09 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Ok Play India Limited | (0.02) | – | (0.59%) | 4.43 | 175.06 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 |