Injecto Polymers IPO subscription surged to 0.25x on Day 1, driven by a late spike in Qualified Institutional Buyer (QIB) demand. QIBs accounted for 1.02x of the total subscription, while retail investors contributed 0.17x. The issue remains open for bidding until September 16, 2026.

Subscription Status

The injection molding company’s public issue saw significant momentum in the afternoon session on Day 1. Total demand ticked up to 0.25x by the end of trading, marking a sharp acceleration from the morning levels. Qualified Institutional Buyers (QIBs) emerged as the dominant category, contributing 1.02x to the overall subscription after remaining flat earlier in the day. Retail investors also showed increased interest, with their subscription rising to 0.17x. Non-Institutional Investors (NII) participation remained modest, with bHNI at 0.10x and sHNI at 0.02x.

Intra-day Timeline

Subscription activity picked up pace sharply in the final hour of trading. The total subscription jumped from 0.09x at 14:15 PM to 0.25x by 15:15 PM, driven primarily by institutional investor interest.

Subscription Progression

The following table outlines the end-of-day subscription status for Day 1.

Offer Details

Injecto Polymers has priced its IPO between ₹98 and ₹100 per share. The minimum bid quantity is set at 2,400 shares. The issue size ranges from ₹235,200 lakh to ₹500,000 lakh depending on the final price discovery.

• Price Band: ₹98 - ₹100
• Issue Size: ₹235,200 lakh - ₹500,000 lakh
• Min Bid Qty: 2,400 shares
• Open Date: 2026-09-11
• Close Date: 2026-09-16

About the Company

Injecto Polymers Limited is a packaging company engaged in manufacturing diverse packaging products including Polypropylene Woven Fabrics, PP Woven Bags, BOPP bags, FIBC bags, and non-woven bags. The company also trades plastic granules and PVC resins. It operates two manufacturing units in West Bengal with a combined installed capacity of 18,070 MT. The company serves customers across agriculture, construction, textiles, chemicals, and consumer goods industries through a B2B model. Promoters Ramesh Kumar Rateria and Ashok Kumar Rateria bring 65 years of combined industry experience.

Financial Highlights

The company reported revenue from operations of ₹375.53 crores for FY26, up from ₹261.48 crores in FY25. Profit after tax stood at ₹16.01 crores in FY26, compared to ₹8.11 crores in FY25.

Objects of the Issue

• Repayment/pre-payment of certain outstanding borrowings: ₹10.00 crores
• Funding Capital expenditure for Phase IV expansion at existing manufacturing facility: ₹30.50 crores
• General Corporate Purposes: Balance proceeds

Risk Factors

• High Customer Concentration: Top 10 customers contributed 40.07% of FY26 revenue.
• Dependence on Trading Activities: Trading contributed 50.36% of FY26 revenue.
• Geographic Concentration: 85.27% of FY26 revenue generated from West Bengal.
• Raw Material Supply and Price Volatility: Dependence on polypropylene and other raw materials.
• Negative Operating Cash Flows: Reported negative operating cash flows in FY26, FY25, and FY24.