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BSE SME Packaging
Antala Industries IPO
₹23.33 Cr · Fresh Issue · Packaging
Price Band
₹63
Lot: 2000 shares (₹126,000)
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹23.33 Cr
Fresh Issue
Market Cap
₹81.45 Cr
At upper band
P/E Ratio
6.94x
Listing Date
5th Nov 2026
BSE & NSE
IPO Timeline
✓
Opens
29th Oct 2026
✓
Closes
2 Nov 2026
📋
Allotment
3 Nov 2026
₹
Refund
4 Nov 2026
📈
Listing
5th Nov 2026
IPO India Hub: Subscribe
Conviction
7/10
The company trades at 0.6× sector midpoint with exceptional 118% PAT CAGR and 42% ROCE, signalling strong operational efficiency. Key risk: promoter stake drops to zero post-issue, eliminating founder alignment and creating potential governance concern.
Our Analysis — Key Points
✓ Strength
Exceptional profitability growth trajectory
Net profit has grown from ₹0.9 Cr (FY-2) to ₹4.2 Cr (FY0), a 118% two-year CAGR that far exceeds revenue growth of 94%. This indicates strong operational leverage and margin expansion in the packaging business.
✓ Strength
Attractive valuation with strong returns
At 13.73× P/E against a niche sector midpoint of 23×, the company trades at 0.6× midpoint—well within Subscribe threshold. ROCE of 42.23% and debt-to-equity of just 0.25× demonstrate capital efficiency and financial stability.
⚠ Risk
Complete promoter exit post-listing
Promoter holding collapses from 72.93% pre-issue to 0% post-issue, eliminating founder skin-in-the-game and raising governance red flags. This extreme dilution may signal promoter lack of confidence or liquidity needs rather than growth conviction.
⚠ Risk
Modest net profit margin below peers
NPM of 8.9% is below the 15% threshold typically expected for high-conviction Subscribe calls in packaging. While EBITDA margin of 12.97% is reasonable, net margins suggest either high tax burden or operational cost pressures not fully explained.
₹ Valuation
Valuation significantly below sector norms
P/E of 13.73× is 0.6× the niche sector midpoint of 23× (range 18–28×), placing the company in the Subscribe zone. The discount is justified by sub-15% NPM, but strong CAGR and ROCE offset this concern.
👁 Watch
Monitor post-listing promoter actions
Track whether promoters exit entirely or retain any stake after lock-in expiry; zero holding suggests potential insider selling pressure. Watch quarterly margin trends to confirm if the 8.9% NPM is structural or cyclical.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Antala Industries" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹30.2 Cr
Net Profit
₹4.19 Cr
Industry
Packaging
Issue Type
Fresh Issue
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.6× sector midpoint with exceptional 118% PAT CAGR and 42% ROCE, signalling strong operational efficiency. Key risk: promoter stake drops to zero post-issue, eliminating founder alignment and creating potential governance concern.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
The minimum lot size is 2000 shares. At the upper band price of ₹63, the minimum investment per retail application is ₹126,000. You can apply for up to 13 lots (₹1,638,000) under the retail category (up to ₹2 lakh).
The IPO opens on 29th Oct 2026. It closes on 2 Nov 2026. Allotment is expected on 3 Nov 2026. Refunds initiate on 4 Nov 2026. Listing on BSE and NSE is on 5th Nov 2026.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 2 Nov 2026. The minimum investment is ₹126,000 for one lot (2000 shares). The company trades at 0.6× sector midpoint with exceptional 118% PAT CAGR and 42% ROCE, signalling strong operational efficiency. Key risk: promoter stake drops to zero post-issue, eliminating founder alignment and creating potential governance concern.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 2 Nov 2026. The IPO is priced at a P/E of 6.94x. Market cap at issue price is ₹81.45 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The minimum lot is 2000 shares at ₹63 each, costing ₹126,000 per application. The issue closes on 2 Nov 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Antala Industries'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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