About Diksha Polymers IPO
Diksha Polymers IPO Details
Diksha Polymers IPO is a fixed price issue of 15.98 lakh equity shares worth up to ₹18 crore, entirely a fresh issue of shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on December 16, 2025.
The price band of the issue is set at ₹112 per share and the lot size for an application is 1,200 shares. The minimum amount required by an individual investor (retail investor) is ₹2,68,800 (2,400 shares). The IPO will open from subscription from June 17 to 19, 2026, on the BSE SME platform, with a tentative listing date fixed as June 24, 2026. The book-running lead manager of the issue is Aryaman Financial Services Ltd., while the registrar to the issue is Cameo Corporate Services Ltd.
Diksha Polymers IPO Date & Timeline
The Diksha Polymers IPO is officially set to open for subscription on Jun 17, 2026 and will close on Jun 19, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on December 16, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 22, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 23, 2026. Finally, Diksha Polymers Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 24, 2026.
Diksha Polymers IPO Timeline
| IPO Open Date | Wed, Jun 17, 2026 |
| IPO Close Date | Fri, Jun 19, 2026 |
| Tentative Allotment | Mon, Jun 22, 2026 |
| Initiation of Refunds | Tue, Jun 23, 2026 |
| Credit of Shares to Demat | Tue, Jun 23, 2026 |
| Tentative Listing Date | Wed, Jun 24, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Diksha Polymers IPO Details
| Detail | Description |
|---|---|
| IPO Date | 17 to 19 Jun, 2026 |
| Listing Date | 24 Jun, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price | ₹ 112 per share |
| Lot Size | 1,200 |
| Sale Type | Fresh Capital |
| Total Issue Size | 15,98,400 shares (agg. up to ₹ 18 Cr) |
| Reserved for Market Maker | 81,600 shares (agg. up to ₹ 0.9139 Cr) Shreni Shares Ltd. |
| Fresh Issue(Ex Market Maker) | 15,16,800 shares (agg. up to ₹ 17 Cr) |
| Net Offered to Public | 15,16,800 shares (agg. up to ₹ 17 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 35,98,200 shares |
| Share Holding Post Issue | 51,96,600 shares |
Diksha Polymers IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Diksha Polymers IPO GMP is currently indicated at ₹[.], suggesting a potential listing price of ₹[.], which is [.]% above the issue price. However, GMP is only an unofficial market indicator and can change rapidly based on investor sentiment. As the company is still progressing from its preliminary regulatory stage to institutional finalization, actual GMP data is not yet available, which is typical for IPOs awaiting active bidding and market participation.
Diksha Polymers GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 20 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 19 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 18 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 17 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 16 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 15 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 14 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 13 Jun 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
| 12 Jun, 2026 | ₹112 | ₹0 | 20 Jun, 202612:04 PM |
Company Background
Diksha Polymers Ltd. was incorporated on March 03, 1998, as Vijay Pet Plast India Private Limited in Gwalior, Madhya Pradesh and was renamed Diksha Polymers Private Limited in February 2000. On June 18, 2024, the company converted into a public limited company to proceed with its public listing procedure. Later acquired the business operations of M/s. Diksha Packaging on September 18, 2024, bringing plastic preform and consumer bottle manufacturing under one structure.
The company is mainly engaged in the manufacturing of PET bottles/containers and PET preforms, which mainly come into use for the storage of beverages, oils and any other ancillary products. Diksha Polymers uses a manufacturing business model and provides customisation services to its clients.
Operations & Product Range
Diksha Polymers Ltd. manufactures PET bottles, containers and PET preforms used across industries such as beverages, packaged water, edible oils, automotive lubricants and pharmaceuticals. The company produces durable, lightweight, chemical-resistant and shatterproof containers ranging from 8 grams to 250 grams. It also manufactures PET preforms, which are either sold to industrial bottlers or used internally to produce finished consumer bottles.
Facilities & Capacity
Diksha Polymers Ltd. operates three adjoining manufacturing units on leased land spanning 26,879 square feet in Madhya Pradesh. The facilities are supported by high-voltage power and industrial water supplies, with an installed capacity of 2,163 MTPA for PET bottles and containers and 1,913 MTPA for PET preforms. Over the past year, the company has undertaken capital expenditure to repair, modify and upgrade machinery, helping maintain efficiency and support high-volume production.
Brands & Market Presence
Diksha Polymers Ltd. serves major institutional clients and retail packagers across central India, with all manufacturing and commercial processes following standard industrial quality checks. The company operates as a B2B packaging provider rather than a consumer brand, building its presence through long-standing corporate relationships and localized supply commitments. Its focus remains on the domestic market, using regional proximity to support faster deliveries and reduce logistical challenges for institutional customers.
Revenue Streams & Business Model
Diksha Polymers Ltd. generates most of its revenue from the sale of PET bottles and jars, which contributed ₹36.56 crore, of operational revenue in FY26, while PET preforms contributed ₹13.23 crore. Additional revenue comes from plastic bottle caps and scrap sheets. The company’s sales are heavily concentrated in Madhya Pradesh, which accounted for ₹50.75 crore of total sales in FY2026, with smaller contributions from Rajasthan (0.60%) and Uttar Pradesh (0.41%). Its business model focuses on high-volume operations and direct raw material sourcing to maintain competitive production costs.
Management & Shareholding
The promoters of Diksha Polymers Ltd. are Vivek Mandelia, Vipin Mandelia, Hemlata Mandelia, Anjana Mandelia and Riddhi Mandelia. Before the IPO, the promoters held a 99.94% stake and the promoter group held a 0.06% stake in the company, but after the IPO, the promoters’ and promoter group's shareholding will not be diluted, as the offering includes only a fresh issue of shares, which invites the public to join.
Board & Key Management
The leadership of Diksha Polymers Ltd. is led by a team of experts with many years of experience. Mr. Vivek Mandelia serves as the Chairman and gives strategic direction to the firm and the daily operations as the Managing Director, along with Whole-Time Directors Mr. Vipin Mandelia. To ensure good governance, the board includes Independent Directors Mr. Praval Pratap Singh Tomar and Mr. Amit Khare for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
Diksha Polymers IPO Financial Information
Latest Revenue
51.27
₹ Crore
Profit After Tax
4.12
₹ Crore
Net Worth
8.52
₹ Crore
Total Borrowing
15.1
₹ Crore
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | 28.2 | 51.27 | 4.12 | 8.52 | 4.92 | 15.1 | |||
| 31 Mar 2025 | 25.86 | 42.72 | 2.63 | 4.4 | 4 | 12.91 | |||
| 31 Mar 2024 | 6.81 | 19.72 | 1.01 | 1.77 | 1.37 | 4.47 | |||
| 31 Mar 2023 | 7.62 | 11.14 | 0.05 | 0.76 | 0.36 | 4.15 | |||
| Amount in ₹ Crore | |||||||||
Diksha Polymers Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 48.32 % |
| ROCE | 28.09 % |
| Debt/Equity | 1.77 |
| RoNW | 48.32 % |
| PAT Margin | 8.03 % |
| EBITDA Margin | 14.27 % |
| Price to Book Value | 4.73 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.44 | 7.92 |
| P/E (x) | 9.79 | 14.14 |
Diksha Polymers IPO Objectives
The company mainly aimed to utilise Diksha Polymers IPO for strategic purposes:
- • Repayment or prepayment of debt (in part or in full)
- • General corporate purposes
Diksha Polymers IPO Review
Diksha Polymers Ltd. operates as an established regional supplier in India’s fragmented plastic packaging industry. A key strength is its move towards full backward integration through the acquisition of the Perform Manufacturing business in 2024, which reduced dependence on external suppliers and helped create a more stable production chain with improved margins.
Financially, the company shown a steady and growing statements; as for FY25, the revenue from operations was reported at ₹42.72 crore and PAT was at ₹3.41 crore with an EBITDA of ₹4.70 crore. Notably, the top 10 customers contributed around ₹37.58 crore, which is 92.67% of the revenue from operations.
However, investors must be aware of the potential risk of the company, including that nearly 99% of the company’s revenue comes from customers in Madhya Pradesh and its performance depends on a limited number of buyers and fluctuations in petrochemical polymer prices. Overall, the IPO reflects a growing regional manufacturing business seeking public capital to reduce borrowings, with the entire issue's proceeds going into the company.
Conclusion
Diksha Polymers IPO is an opportunity for investors to invest in a growing company that has been operating for three decades in the plastic industry. The company has built an integrated manufacturing base that converts plastic resins into packaging products for beverage and lubricant companies and is supported by asset growth and a strong regional presence. With this listing, the company aims to manage its financial statements and its day-to-day operational activities.
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Competitive Strengths
Integrated processing setup possesses a fully integrated production line that manages everything from intermediate PET preform injection to finished bottle blow-molding, capturing cost efficiencies across the entire value chain.
Strategic location advantage by operating 3 manufacturing facilities within Gwalior's established industrial zones provides easy access to nearby consumer markets and reliable local labour.
Delivered strong financial growth, with revenue increasing at a CAGR of 61.23% over the last three fiscal years alongside expanding net profit margins.
With over 2 decade of direct technical experience in managing industrial plastic manufacturing operations and client acquisitions.
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IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2400 | 268800 |
| Individual investors (Retail) (Max) | 2 | 2400 | 268800 |
| HNI (Min) | 3 | 3600 | 403200 |