Panchatv Bharat IPO Day 2: Retail jumps 25% to 0.05x; total flat at 0.02x
- Panchatv Bharat IPO subscribed 0.02x on Day 2.
- Retail demand jumped 25% to 0.05x.
- QIB and NII categories remain unsubscribed.
- Issue closes on September 15, 2026.
*this image is generated using AI for illustrative purposes only.
Panchatv Bharat IPO subscription stands at 0.02x on Day 2. The Retail category leads demand with a sharp 25% intra-day jump to 0.05x, while Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) remain unsubscribed.
Subscription Status
The Panchatv Bharat IPO saw minimal traction in its second day of subscription. Total demand ticked up slightly from Day 1 but remains significantly below the fully subscribed threshold. The Retail segment continues to be the sole contributor to the overall subscription multiple, picking up pace after 1pm.
| 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 | 0.00x | 0.05x | 0.02x |
Category-wise Breakdown
- QIB: 0.00x
- NII (bHNI): 0.00x
- NII (sHNI): 0.00x
- Retail: 0.05x
- Employees: 0.00x
Intra-day Timeline
Subscription activity remained flat for QIB and NII throughout Day 2. The following table captures the snapshot for 11-09-2026:
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.00x | 0.04x | 0.02x |
| 12:15 | 0.00x | 0.00x | 0.04x | 0.02x |
| 13:15 | 0.00x | 0.00x | 0.05x | 0.02x |
Offer Details
- Price Band: ₹140.00000 - ₹140.00000
- Issue Size: ₹280000 - ₹500000
- Min Bid Qty: 2000
- Open Date: 2026-09-10
- Close Date: 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, 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.
Financial Highlights
| Particulars | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Revenue from Operations (₹ crores) | 56.85 | 48.99 | 39.31 |
| Profit Before Tax (₹ crores) | 5.46 | 3.72 | 2.73 |
| Total Profit (₹ crores) | 4.03 | 2.83 | 2.02 |
| Total Assets (₹ crores) | 33.78 | 27.16 | 16.88 |
Objects of the Issue
- Funding of capital expenditure towards purchase of property at Delhi and renovation, modernization and fit-out thereof: ₹6.00 crores
- Funding working capital requirements of the company: ₹11.50 crores
- General corporate purposes: ₹3.67 crores
Risk Factors
- Limited Operating History: Incorporated in March 2024, providing only one year of operating history as a corporate entity.
- Third-Party Manufacturing: Heavy dependence on third-party manufacturing without exclusivity arrangements.
- Negative Cash Flows: Experienced negative cash flows from operating activities of ₹1,085.12 Lakhs in FY 2025-26.
- Customer Concentration: Derives 54.67% of revenue from its top ten customers in FY 2025-26.
- Geographic Concentration: Revenue heavily concentrated in Delhi (67.59%) and Uttar Pradesh (24.71%).
What's Next
- Allotment Date: 2026-09-16
- Listing Date: 2026-09-18
Will Panchatv Bharat consider revising its price band or extending the subscription window to attract institutional interest before the close on September 15?
How might the company's heavy reliance on third-party manufacturing and lack of exclusivity impact investor confidence during the final days of the IPO?
Given the negative operating cash flows in FY 2026, what specific operational changes does management plan to implement to ensure profitability post-listing?
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