Roopa Screen IPO Day 3: Subscribed 61.17x; Retail demand jumps to 138.99x
- Roopa Screen IPO subscribed 61.17x on the final day.
- Retail demand surged to 138.99x, leading all categories.
- QIB subscription rose to 3.98x, while NII categories crossed 66x.
- Allotment is scheduled for September 29, 2026, with listing on October 1, 2026.
*this image is generated using AI for illustrative purposes only.
Roopa Screen IPO saw a massive surge in demand on the final bidding day, with overall subscription hitting 61.17x. Retail investors drove the frenzy, subscribing 138.99 times their quota, while QIB interest climbed to 3.98x.
Subscription Status
The issue experienced explosive growth on September 28, 2026. While Day 1 closed at 1.36x and Day 2 at 5.41x, the final day pushed the total subscription to 61.17x. This represents a significant jump from the previous close, driven largely by retail participation.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 24-09-2026 | 0.15x | 2.19x | 1.56x | 2.89x | 1.36x |
| Day 2 | 25-09-2026 | 2.57x | 6.91x | 4.25x | 9.57x | 5.41x |
| Day 3 | 28-09-2026 | 3.98x | 72.99x | 66.86x | 138.99x | 61.17x |
Category-wise Breakdown
Retail investors were the primary drivers of this surge, registering a subscription of 138.99x. Non-Institutional Investors also showed strong appetite, with Small HNI (sHNI) subscribers bidding for 72.99x of their quota and Big HNI (bHNI) investors subscribing 66.86x. Qualified Institutional Buyers (QIB) increased their participation to 3.98x, up from 2.57x on Day 2. Employee bids remained at 0x.
Intra-day Timeline on 28-09-2026
Demand accelerated sharply between the 11:15 IST snapshot and the 12:15 IST update, reflecting a late-day rush by retail and HNI investors.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 2.57x | 44.11x | 79.90x | 36.18x |
| 12:15 | 3.98x | 72.99x | 138.99x | 61.17x |
Offer Details
The Roopa Screen IPO was priced in a band of ₹60.00000 to ₹64.00000 per share. The issue size ranged between ₹240000 crore and ₹500000 crore based on the price band applied. The minimum bid quantity was set at 4000 shares. The bidding window opened on September 24, 2026, and closed on September 28, 2026.
About the Company
Roopa Screen Limited, incorporated in 2013, specializes in manufacturing rotary nickel screens used in rotary screen-printing machines for textile manufacturers. The company operates from a facility in Sanand, Ahmedabad, serving over 200 customers across 11 Indian states. Its product portfolio includes Delta, Penta, Standard, and Nova variants. In FY2026, the company reported revenue of ₹5,072.73 lakhs.
Financial Highlights
The company has shown consistent growth in revenue and profitability over the last three fiscal years.
| Metric (₹ Crores) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue from Operations | 50.73 | 45.34 | 35.71 |
| Total Revenue | 51.32 | 45.63 | 35.85 |
| Profit Before Tax | 8.69 | 6.27 | 2.01 |
| Net Profit | 6.48 | 4.69 | 1.50 |
| Total Assets | 30.00 | 22.47 | 19.66 |
Objects of the Issue
The proceeds from the IPO will be utilized for the following purposes:
- Capital Expenditure: Funding the setup of a new manufacturing facility at Sanand to increase capacity from 74,400 to 163,200 screens per annum.
- Working Capital: Meeting incremental working capital requirements for business expansion.
- General Corporate Purposes: Covering operating expenses, business development, and marketing capabilities.
Risk Factors
Key risks disclosed include:
- Regulatory Compliance: Discontinuation of operations at the Narol unit due to lack of statutory approvals could impact production capacity.
- Sector Dependence: High reliance on the textile industry exposes the company to sector-specific demand fluctuations.
- Product Concentration: Significant revenue dependence on the Penta Screen product line.
- Customer Concentration: Top 10 customers account for a substantial portion of revenue without long-term contracts.
- Raw Material Volatility: Dependence on top 10 suppliers for 96.73% of purchases poses supply chain risks.
What's Next
Allotment of shares is scheduled for September 29, 2026. The listing date is set for October 1, 2026.
How might the extreme retail-driven subscription frenzy (138.99x) influence the listing price volatility and potential for a post-listing correction?
Will Roopa Screen's planned capacity expansion to 163,200 screens per annum be sufficient to mitigate the disclosed risks of high customer and supplier concentration?
What impact could the discontinuation of operations at the Narol unit have on the company's ability to meet immediate demand while the new Sanand facility is under construction?
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