Antala Industries IPO
- Price band
- ₹63 – ₹67
- Issue size
- ₹23.33 Cr
- Min. investment
- ₹1,34,000
- 2,000 shares
- GMP
- ₹0
- 0.00%
- Subscribed
- 0.79x
- Bidding dates
- 29 Oct – 2 Nov 2026
IPO timeline
- Opens29 OctThu
- Closes2 NovMon
- Allotment3 NovTue
- Refunds4 NovWed
- Demat credit4 NovWed
- Listing5 NovThu
Issue details
- Price band
- ₹63 – ₹67 per share
- Issue size
- ₹23.33 Cr
- Fresh issue
- ₹23.33 Cr · 0.35 Cr shares
- Offer for sale
- None
- Issue type
- Fresh capital only
- Face value
- ₹10 per share
- Lot size
- 2,000 shares
- Minimum investment
- ₹1,34,000
- Listing on
- BSE SME
- Exchange code
- 8070
Lot size and investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,34,000 |
| Retail (Max) | 1 | 2,000 | ₹1,34,000 |
| HNI (Min) | 2 | 4,000 | ₹2,68,000 |
Reservation
- QIB
- 36,000 shares (1.09% of the Offer)
- NII
- 5,10,000 shares (15.43% of the Offer)
- Retail
- 27,60,000 shares (83.48% of the Offer)
Grey market premium (GMP)
- Current GMP
- ₹0
- 0.00%
- Estimated listing price
- ₹67
- Issue price ₹67
- Highest
- ₹0
- 25 Oct
- Lowest
- ₹0
- 25 Oct
GMP by day (₹ per share)
Day-wise GMP table
| Date | GMP | Premium | Est. listing |
|---|---|---|---|
| 30 Oct 2026 | ₹0 | 0.00% | ₹67 |
| 29 Oct 2026 | ₹0 | 0.00% | ₹67 |
| 28 Oct 2026 | ₹0 | 0.00% | ₹67 |
| 27 Oct 2026 | ₹0 | 0.00% | ₹67 |
| 26 Oct 2026 | ₹0 | 0.00% | ₹67 |
| 25 Oct 2026 | ₹0 | 0.00% | ₹67 |
GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.
Subscription status
- QIB66.72x
- NII (HNI)0.27x
- Retail0.06x
| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 36,000 | 24,02,000 | 66.72x |
| Non-Institutional Investors (NII) | 6,86,000 | 1,82,000 | 0.27x |
| bNII — bids above ₹10 Lakh | 3,42,000 | 1,76,000 | 0.51x |
| sNII — bids ₹2 Lakh to ₹10 Lakh | 1,68,000 | 6,000 | 0.04x |
| Retail Individual Investors (RII) | 27,60,000 | 1,64,000 | 0.06x |
| Total | 34,82,000 | 27,48,000 | 0.79x |
Financials
- P/E Ratio
- 9.72
- EPS (₹)
- 6.89
- RoE
- 21.36%
- RoCE
- 26.61%
- RoNW
- 18.88%
- PAT Margin
- 13.90%
- EBITDA Margin
- 19.12%
- Debt / Equity
- 0.08
- NAV (₹)
- 20.67
Separate pre- and post-issue P/E are not available for this IPO; the P/E shown is as disclosed for the issue.
| Period ended | 30 Sep 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 34.88 | 28.41 | 25.47 | 5.97 |
| Total Income | 30.20 | 47.53 | 31.98 | 12.59 |
| Profit After Tax | 4.19 | 4.24 | 1.82 | 0.89 |
| EBITDA | 5.76 | 6.15 | 2.82 | 1.36 |
| NET Worth | 22.17 | 17.03 | 12.19 | 3.54 |
| Reserves and Surplus | 13.49 | 8.79 | 3.02 | |
| Total Borrowing | 1.75 | 4.19 | 3.85 | 0.36 |
Peer comparison
| Company | Issue size | P/E | RoNW | PAT margin | Subscribed | Listing gain |
|---|---|---|---|---|---|---|
| Antala Industries This IPO | ₹23.33 Cr | 9.72 | 18.88% | 13.90% | 0.81x | — |
| S.K.Offset SME · listed 30 Sep 2026 | ₹29.06 Cr | 12.94 | 37.82% | 11.22% | 1.15x | +0.80% |
| RFBL Flexi Pack SME · listed 19 May 2026 | ₹35 Cr | 15.19 | 60.18% | 6.15% | 21.52x | +5.00% |
| Dhaval Packaging SME · listed 6 Aug 2026 | ₹36.36 Cr | 16.58 | 31.58% | 12.33% | 46.56x | +13.40% |
| Vama Wovenfab SME · listed 22 Sep 2026 | ₹49.54 Cr | 15.33 | 50.37% | 5.38% | 2.58x | 0.00% |
| Knack packaging Mainboard · listed 8 Jul 2026 | ₹439.5 Cr | — | 35.47% | 10.99% | 87.17x | +9.41% |
Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.
IPO objectives
How Antala Industries plans to use the money raised, as stated in the offer document.
- To meet Working Capital Requirements₹10.68 Cr
- To meet the requirements of Capital Expenditure towards Purchase of Machinery₹5.89 Cr
- General Corporate Purposes
About Antala Industries
Antala Industries Limited is based in Rajkot, Gujarat. It was incorporated in August 2024 and makes, prints, laminates and supplies industrial and commercial packaging products. Its products are BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags and PP woven lamination rolls. They are used in food processing, fertilizers, chemicals, cement and seeds. It runs one integrated plant in Rajkot with extrusion, coating and lamination, rotogravure printing, stitching and finishing. The company holds ISO 9001:2015, ISO 14001:2015, ISO 22000:2018 and ISO 45001:2018 certifications, and its promoters have nearly three decades of experience in packaging. As of 30 September 2026 it had 11 employees. Total income was Rs 47.53 crore in FY2026 against Rs 31.98 crore in FY2025, and profit after tax was Rs 4.24 crore in FY2026.
Strengths
- Total income rose 48.62% from Rs 31.98 crore in FY2025 to Rs 47.53 crore in FY2026, after Rs 12.59 crore in FY2024.
- Profit after tax grew 132.97% from Rs 1.82 crore in FY2025 to Rs 4.24 crore in FY2026, and was Rs 0.89 crore in FY2024.
- EBITDA rose 118.09% from Rs 2.82 crore in FY2025 to Rs 6.15 crore in FY2026, an EBITDA margin of 12.97% in FY2026.
- In the six months ended 30 September 2026, total income was Rs 30.20 crore and profit after tax was Rs 4.19 crore, a PAT margin of 13.90%.
- Net worth rose from Rs 12.19 crore on 31 March 2025 to Rs 17.03 crore on 31 March 2026 and Rs 22.17 crore on 30 September 2026.
- Total borrowing fell from Rs 4.19 crore on 31 March 2026 to Rs 1.75 crore on 30 September 2026, and the debt to equity ratio is 0.08.
- The P/E is 9.72 at the upper band of Rs 67, based on post-issue EPS of Rs 6.89. RoE is 21.36% and RoCE is 26.61% for the six months ended 30 September 2026.
- The issue is fresh only, 34,82,000 shares worth Rs 23.33 crore. Rs 10.68 crore goes to working capital and Rs 5.89 crore to buying machinery.
Risks
- The pre-issue P/E of 6.94 shown at the source does not match the price. Rs 67 divided by the pre-issue EPS of Rs 4.88 is 13.73, so treat the pre-issue valuation figures with care.
- The post-issue P/E of 9.72 and EPS of Rs 6.89 use earnings of the six months to 30 September 2026 taken on an annual basis, as per the source note. Full year earnings may not match this.
- The post-issue promoter holding is not stated at the source yet. Promoters hold 72.92% before the issue.
- The company was incorporated in August 2024, so its record under the present entity is short. Total assets jumped from Rs 5.97 crore on 31 March 2024 to Rs 25.47 crore on 31 March 2025.
- The company had only 11 employees as of 30 September 2026, and the source gives no customer or order data, so concentration cannot be checked.
- Margins moved up fast. PAT margin was 8.94% in FY2026 against 13.90% in the six months to 30 September 2026, and it may not hold.
- Rs 10.68 crore, about 45.78% of the Rs 23.33 crore issue, goes to working capital, and the source gives no amount for general corporate purposes.
- There are seven named promoters, and the lead manager is Vatsa Capital Venture Pvt.Ltd., the only BRLM named.
- This is an SME issue. One lot is 2,000 shares, which is about Rs 1.34 lakh at the upper band of Rs 67, and SME shares usually trade in low volume after listing.
Promoters and shareholding
Rajeshkumar Chandulal Antala, Lataben Rajeshbhai Antala, Pankajkumar Chandulal Antala, Hetalben Pankajkumar Antala, Nevil Pankajbhai Antala, Aaryan Rajesh Antala and Shaily Rajeshkumar Antala
- Promoter holding, pre-issue
- 72.92%
- Promoter holding, post-issue
- —
Registrar, lead managers and documents
Company contact
Shapar RS No.84, Plot No.1, Opp. Shreeji Tiles, Veraval (Shapar), Kotda Sanghani, Rajkot, Gujarat, 360024
98255 17357
cs@antalaindustriesltd.comAntala Industries IPO: common questions
1.When does the Antala Industries IPO open and close?
The Antala Industries IPO opens on 29 Oct 2026 and closes on 2 Nov 2026.
2.What is the price band of the Antala Industries IPO?
The price band is ₹63 – ₹67 per share, with a lot size of 2,000 shares and a minimum investment of ₹1,34,000.
3.What is the size of the Antala Industries IPO?
The issue size is ₹23.33 Cr (Fresh capital only).
4.What is the GMP of the Antala Industries IPO?
The last reported grey market premium is ₹0 per share as of 30 Oct 2026, 01:48 PM IST. GMP is unofficial and changes frequently.
5.When is the Antala Industries IPO allotment?
The basis of allotment is expected on 3 Nov 2026. Allotment status can be checked with the registrar, Bigshare Services Private Limited.
6.When will the Antala Industries IPO list?
The shares are expected to list on 5 Nov 2026 on BSE SME.
7.What will the money raised in the Antala Industries IPO be used for?
As stated in the offer document, the proceeds are for: To meet Working Capital Requirements; To meet the requirements of Capital Expenditure towards Purchase of Machinery; General Corporate Purposes.
8.How can my company launch an IPO like Antala Industries?
Start with an IPO readiness assessment: eligibility for the NSE Emerge or BSE SME platform, audited financials, governance, conversion to a public limited company and an indicative valuation. Be IPO Ready advises promoters through each step, from readiness to listing day.
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