S K Offset IPO Day 1: Subscribed 0.11x; QIB leads demand at 0.50x

2 min read | Published on 23 Sept 2026, 01:25 PM |Updated on 23 Sept 2026, 02:26 PM

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Ritika DScanX News Team

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Key Highlights

S K Offset IPO subscribed 0.11x on Day 1
QIB demand led at 0.50x; Retail at 0.01x
NII categories recorded zero subscription
Issue price band: ₹119 - ₹125 per share
Allotment date: September 28, 2026

*this image is generated using AI for illustrative purposes only.

S K Offset IPO opened to a tepid response on Day 1, with the issue subscribed 0.11 times by the close of bidding on September 23, 2026. Qualified Institutional Buyers led the demand with a 0.50x subscription, while retail participation remained minimal at 0.01x.

Subscription Status

The first day of the S K Offset IPO saw limited interest across all investor categories. The overall subscription stood at 0.11x, driven primarily by institutional bids. Non-Institutional Investors (both small and big HNI categories) recorded zero subscription during this period.

Category	Subscription
QIB	0.50x
NII (bHNI)	0.00x
NII (sHNI)	0.00x
Retail	0.01x
Total	0.11x

Intra-day Timeline

The subscription data for Day 1 reflects a static pace throughout the trading hours available in the snapshot.

Time (IST)	QIB	NII (bHNI)	Retail	Total
13:15	0.50x	0.00x	0.01x	0.11x
14:15	0.50x	0.00x	0.01x	0.11x

Offer Details

The S K Offset IPO is a fresh issue of equity shares. The price band is set between ₹119 and ₹125 per share. The minimum bid quantity is 2000 shares. The issue window opened on September 23, 2026, and will close on September 25, 2026.

About the Company

S.K. Offset Limited, incorporated in 2007 and headquartered in Meerut, Uttar Pradesh, is an integrated printing and packaging solutions provider. The company operates four facilities covering approximately 38,313 sq. ft., offering services including offset printing, mono cartons, rigid boxes, corrugated packaging, and labelling. It serves sectors such as FMCG, pharmaceuticals, cosmetics, and publishing. The company follows a predominantly B2B model with ~99% revenue from business clients, with ~84% of sales concentrated in North India.

Financial Highlights

The company has shown significant growth in revenue from operations over the last three fiscal years. Revenue increased from ₹2,153 lakh in FY2024 to ₹6,667 lakh in FY2026. Profit after tax also witnessed a substantial rise during this period.

Metric	FY2024	FY2025	FY2026
Revenue from Operations (₹ Cr)	21.53	48.20	66.67
Profit Before Tax (₹ Cr)	0.99	2.17	9.87
Net Profit (₹ Cr)	0.72	1.54	7.48

Objects of the Issue

The net proceeds from the fresh issue will be utilized for the following purposes:

Capital Expenditure: ₹2.11 crore towards purchasing and setting up an Automatic Foil Stamper & Die Cutting Machine to enhance finishing capabilities.
Working Capital: ₹18.66 crore to meet incremental working capital requirements for Fiscal 2027 and Fiscal 2028.
General Corporate Purposes: Balance amount for operating expenses, brand development, and technology upgrades.

Risk Factors

Investors should note the following material risks disclosed in the offer documents:

Customer Concentration: Top 10 customers contributed 86.14% of revenue in FY2026, with no long-term agreements in place.
Supplier Dependency: Top 10 suppliers accounted for 65.59% of total purchases in FY2026.
Geographical Concentration: Approximately 69.43% of revenue was derived from Uttar Pradesh in FY2026.
Working Capital Intensity: The company experienced negative operating cash flows of ₹1,079.67 lakhs in Fiscal 2025.

What's Next

The allotment for the S K Offset IPO is scheduled for September 28, 2026. The shares are expected to be listed on stock exchanges on September 30, 2026.