Injecto Polymers to Open Rs 56.12 Crore IPO on September 11

Injecto Polymers Limited, a manufacturer of polymer-based packaging solutions, is set to open its Rs 56.12 crore Initial Public Offering (IPO) for subscription on September 11, 2026. The issue will remain open until September 16, 2026, with the Equity Shares proposed to be listed on the BSE SME platform.

The IPO is entirely a fresh issue of 56.12 lakh Equity Shares, with a price band of Rs 98 to Rs 100 per Equity Share. The Anchor Book will open on September 10, 2026. The tentative date of allotment is September 17, while the proposed listing date is September 21, 2026, subject to applicable approvals and market conditions.

The lot size has been fixed at 1,200 Equity Shares. At the upper price band of Rs 100 per share, the minimum retail application of 2,400 Equity Shares requires an investment of Rs 2.40 lakh. The minimum HNI application of 3,600 Equity Shares requires an investment of Rs 3.60 lakh.

The IPO includes a QIB portion of up to 15,96,000 Equity Shares, aggregating up to Rs 15.96 crore at the upper price band. This includes an Anchor portion of up to 9,57,600 Equity Shares.

Strong Financial Performance

Injecto Polymers has reported strong growth in revenue and profitability over the last three financial years. Revenue from Operations increased from Rs 109.05 crore in FY2024 to Rs 261.48 crore in FY2025 and further to Rs 375.53 crore in FY2026.

EBITDA rose from Rs 12.35 crore in FY2024 to Rs 22.57 crore in FY2025 and Rs 38.04 crore in FY2026. Profit After Tax (PAT) increased from Rs 4.44 crore in FY2024 to Rs 8.11 crore in FY2025 and Rs 16.01 crore in FY2026.

In FY2026, the company reported an EBITDA margin of 10.13 per cent and a PAT margin of 4.26 per cent. Its Return on Equity (ROE) stood at 28.94 per cent, while Return on Capital Employed (ROCE) was 15.64 per cent.

Manufacturing operations contributed 49.64 per cent of the company's total Revenue from Operations in FY2026, compared with 46.81 per cent in FY2025. The increase highlights the company's focus on strengthening its manufacturing capabilities and expanding its value-added product portfolio.

Capacity Utilisation and Expansion Plans

Injecto Polymers had an installed manufacturing capacity of 10,870 MT per annum as of FY2026, with capacity utilisation at 95.29 per cent during the year.

The company is currently implementing its Phase III expansion, adding 2,400 MT per annum of capacity. Of this, 1,200 MT commenced trial production on July 1, 2026, while the remaining 1,200 MT is expected to be commissioned subsequently.

The company has also proposed a Phase IV expansion of 4,800 MT per annum, which is proposed to be funded through the IPO proceeds. Following the commissioning of the remaining Phase III capacity and the proposed Phase IV expansion, total installed capacity is expected to rise to 18,070 MT per annum.

Diversified Polymer Packaging Portfolio

Established in 1998, Injecto Polymers manufactures a diversified range of polymer-based packaging products, including PP woven fabrics, PP woven sacks and bags, BOPP bags, laminated woven bags, Leno bags, FIBC bulk bags, HM/LD liners and non-woven bags.

The company's products cater to various industrial and consumer applications. It also undertakes trading activities in plastic granules and PVC resins.

Injecto Polymers operates two manufacturing facilities in West Bengal and has established a diversified product portfolio supported by its manufacturing capabilities and presence across multiple states in India.

Utilisation of IPO Proceeds

The company proposes to use the net IPO proceeds for repayment or prepayment of certain borrowings, funding the proposed Phase IV expansion and general corporate purposes. The planned expansion is aimed at increasing manufacturing capacity and supporting future growth in the polymer packaging segment.

Indcap Advisors Private Limited is the Book Running Lead Manager to the issue. CapitalSquare is the Underwriter and Syndicate Member, while Integrated Registry Management Services Private Limited is the Registrar to the Issue.

The Injecto Polymers IPO is scheduled to open on September 11, 2026, and close on September 16, 2026. The Equity Shares are proposed to be listed on the BSE SME platform on September 21, 2026, subject to applicable approvals and market conditions.

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Disclaimer: The article is for informational purposes only and not investment advice.