Panchatv Bharat IPO Day 3: Subscription flat at 0.09x; QIB absent
- Panchatv Bharat IPO subscription flat at 0.09x on Day 3
- No new bids from QIBs or Retail investors recorded
- NII (bHNI) leads with 0.11x subscription
- Issue closes on 2026-09-15 with listing on 2026-09-18
*this image is generated using AI for illustrative purposes only.
Panchatv Bharat IPO subscription remained flat at 0.09x on Day 3, with no new bids registered across any investor category. The issue continues to face weak demand as it approaches its closing date.
Subscription Status
The subscription figure for Panchatv Bharat did not move from the Day 2 close. The total subscribed amount stands at 0.09x of the issue size. There was no activity from Qualified Institutional Buyers (QIBs) or Retail investors during the session.
| 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 |
Category-wise Breakdown
Non-Institutional Buyers (bHNI) account for the majority of the demand so far, contributing 0.11x to the subscription. Retail investors have subscribed 0.07x. QIB and Employee categories remain at 0x.
Intra-day Timeline
The intra-day snapshot for Day 3 (14-09-2026) shows no change from the opening figures.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.00x | 0.07x | 0.09x |
| 12:15 | 0.00x | 0.00x | 0.07x | 0.09x |
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. The company operates under the brand name 'NJD' and sells finished denim fabric in bulk to garment manufacturers, distributors, dealers, and wholesalers across India, including Delhi, Uttar Pradesh, Gujarat, and Rajasthan.
Financial Highlights
| 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 |
Objects of the Issue
- Funding working capital requirements of the company: ₹11.50 crores
- Funding of capital expenditure towards purchase of property at Delhi: ₹6.00 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.
- Negative Cash Flows: Experienced negative cash flows from operating activities of ₹1,085.12 Lakhs in FY 2025-26.
- High Customer Concentration: Derived 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%).
- Dependence on Third-Party Manufacturing: Outsources manufacturing without exclusivity arrangements.
What's Next
The IPO closes on 2026-09-15. Allotment is scheduled for 2026-09-16, and listing is expected on 2026-09-18.
Will Panchatv Bharat consider withdrawing or revising its IPO pricing strategy given the persistent lack of institutional interest?
How might the company's reliance on third-party manufacturing and negative operating cash flows impact investor confidence in future fundraising efforts?
What are the potential implications for the textile sector if a newly incorporated entity with limited operating history fails to attract retail subscription?
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