Panchatv Bharat IPO Day 1: Subscribed 0.01x; Retail jumps 100% to 0.02x
- Panchatv Bharat IPO subscription stands at 0.01x on Day 1.
- Retail category leads demand at 0.02x, jumping 100% intraday.
- QIB and NII segments remain flat with zero bids.
- Issue price is fixed at ₹140 per share.
- IPO closes on 15 September 2026.
*this image is generated using AI for illustrative purposes only.
Panchatv Bharat IPO is subscribed 1.10x on Day 4, crossing the fully subscribed threshold as Retail investors drive a massive 574% intraday surge. The issue closes today at the ceiling price of ₹140. QIB and NII categories remain unsubscribed.
Subscription Status
The Panchatv Bharat IPO has achieved full subscription on its final day of bidding. Total subscription stands at 1.10x as of the latest update on 15-09-2026. Retail investors have emerged as the sole source of demand, accounting for 1.82x of the issue size. In contrast, Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) have not placed any bids, with both categories showing 0.00x subscription.
The intra-day timeline for Day 4 indicates that Retail participation picked up pace significantly throughout the day, rising from 0.27x at 11:15 AM to 1.82x by 3:15 PM IST. This movement contributed to a total subscription increase from 0.20x to 1.10x.
Intra-day Timeline — 10 September 2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 13:15 | 0.00x | 0.00x | 0.01x | 0.01x |
| 14:15 | 0.00x | 0.00x | 0.01x | 0.01x |
| 15:15 | 0.00x | 0.00x | 0.01x | 0.01x |
| 16:15 | 0.00x | 0.00x | 0.02x | 0.01x |
| 17:15 | 0.00x | 0.00x | 0.02x | 0.01x |
Subscription Progression
Demand for the Panchatv Bharat IPO has remained subdued until the final hours of Day 4. The following table outlines the cumulative subscription multiples from Day 1 to Day 4.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 10-09-2026 | 0.00x | 0.00x | 0.00x | 0.02x | 0.01x |
| Day 2 | 11-09-2026 | 0.00x | 0.00x | 0.11x | 0.07x | 0.09x |
| Day 3 | 14-09-2026 | 0.00x | 0.00x | 0.11x | 0.07x | 0.09x |
| Day 4 | 15-09-2026 | 0.00x | 0.00x | 0.13x | 1.82x | 1.10x |
Retail participation saw a significant jump on Day 4, rising from 0.07x to 1.82x. However, the absence of institutional interest keeps the overall subscription multiple just above the fully subscribed threshold.
Offer Details
Panchatv Bharat Limited has priced its IPO at a single-point band of ₹140. The issue size ranges between ₹280000 and ₹500000. The minimum bid quantity is set at 2000 shares. The IPO opened on 2026-09-10 and closes on 2026-09-15.
About the Company
Panchatv Bharat Limited is a textile company incorporated in March 2024. It manufactures denim fabrics through third-party arrangements and leased loom machinery, while also procuring finished denim fabric from distributors and suppliers. Operating under the brand name 'NJD', the company sells finished denim fabric in bulk to garment manufacturers, distributors, dealers, and wholesalers across Delhi, Uttar Pradesh, Gujarat, and Rajasthan.
The management team includes Sanjay Gupta as Managing Director and Sooraj Gupta as CEO. The company leverages the promoters' extensive experience in the textile industry to maintain a network of over 89 active distributors across five states.
Financial Highlights
Panchatv Bharat reported revenue from operations of ₹56.85 crores in FY 2025-26, up from ₹48.99 crores in FY 2024-25. Profit after tax stood at ₹4.03 crores for the year ended March 31, 2026.
| Particulars | FY 2025-26 (₹ crores) | FY 2024-25 (₹ crores) | FY 2023-24 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 56.85 | 48.99 | 39.31 |
| Total Profit | 4.03 | 2.83 | 2.02 |
| Total Assets | 33.78 | 27.16 | 16.88 |
| Net Cash Flow | -2.85 | 2.84 | -0.05 |
Objects of the Issue
The proceeds from the IPO will be utilized for the following purposes:
- Funding working capital requirements of the company: ₹11.50 crores
- Funding capital expenditure towards purchase of property at Delhi and renovation: ₹6.00 crores
- General corporate purposes: ₹3.67 crores
Risk Factors
Investors should note several material risks associated with the company:
- Limited Operating History: Incorporated in March 2024, the company has only one year of operating history as a corporate entity.
- Third-Party Manufacturing Dependence: The company outsources manufacturing without exclusivity arrangements, risking supply disruptions.
- Negative Cash Flows: Operating cash flows were negative at ₹1,085.12 Lakhs in FY 2025-26 due to working capital management decisions.
- Customer Concentration: 54.67% of revenue in FY 2025-26 came from the top ten customers, with no long-term contracts.
- Geographic Concentration: Revenue is heavily concentrated in Delhi (67.59%) and Uttar Pradesh (24.71%).
What's Next
The IPO closes on 2026-09-15. Allotment is scheduled for 2026-09-16, and the shares are expected to list on 2026-09-18.
Will the complete lack of QIB and NII interest on Day 1 signal a potential IPO cancellation or price revision before the closing date?
How might the company's reliance on third-party manufacturing without exclusivity agreements impact investor confidence in supply chain stability?
Could the significant negative operating cash flows reported in FY 2025-26 deter institutional investors from participating in the remaining days of the issue?
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