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SME IPO
BSE SME Other Textile Products
Panchatv Bharat IPO
₹24.58 Cr · Fresh Issue · Other Textile Products
Price Band
₹140
Lot: 1000 shares (₹140,000)
GMP (Grey Market)
₹7 (+5%)
Est. listing ₹147
Issue Size
₹24.58 Cr
Fresh Issue
Market Cap
₹81.91 Cr
At upper band
P/E Ratio
14.23x
Listing Date
18th Sep 2026
BSE & NSE
IPO Timeline
✓
Opens
10th Sep 2026
✓
Closes
15 Sep 2026
📋
Allotment
16 Sep 2026
₹
Refund
17 Sep 2026
📈
Listing
18th Sep 2026
📄 Official Docs
DRHP ↗
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.76× sector midpoint with exceptional 188.5% PAT CAGR and 41.6% revenue growth, supported by strong 26.81% ROCE and manageable 0.86× D/E. Key risk is thin 5.8% net margin, which limits downside protection if execution falters on capex deployment.
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit has grown from ₹0.3 Cr (FY-2) to ₹2.8 Cr (FY0), delivering a 188.5% PAT CAGR over two years. This sharp profitability expansion demonstrates operational leverage and improving unit economics in the textile products segment.
✓ Strength
Strong capital efficiency metrics
ROCE of 26.81% indicates efficient deployment of shareholder capital, well above cost of capital. Combined with 41.6% revenue CAGR and 0.86× D/E ratio, the company shows disciplined financial management and capacity for organic reinvestment.
⚠ Risk
Thin net profit margins limit safety
At 5.8% NPM, the company operates with minimal cushion against cost inflation, raw material volatility, or demand shocks. A 10% revenue miss or 5% margin compression would materially impact earnings, creating downside risk for equity holders.
⚠ Risk
Capex execution and working capital risk
₹4.5 Cr (18% of proceeds) is earmarked for new Ahmedabad facility setup, and ₹11.5 Cr for working capital. Delays in facility commissioning or higher-than-expected working capital absorption could pressure cash flow and delay return on invested capital.
₹ Valuation
Attractive valuation relative to growth
P/E of 17.38× is 0.76× the niche/unlisted sector midpoint of 23×, placing it in the Subscribe zone. Given 188.5% PAT CAGR and 26.81% ROCE, the discount to sector midpoint is justified and offers margin of safety for SME investors.
👁 Watch
Monitor margin sustainability post-listing
Track quarterly EBITDA and net margins closely after listing. Any sustained compression below 8% EBITDA or 5% NPM would signal operational stress and warrant reassessment of the investment thesis.
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 "Panchatv Bharat" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹56.87 Cr
Net Profit
₹4.03 Cr
Industry
Other Textile Products
Issue Type
Fresh Issue
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.76× sector midpoint with exceptional 188.5% PAT CAGR and 41.6% revenue growth, supported by strong 26.81% ROCE and manageable 0.86× D/E. Key risk is thin 5.8% net margin, which limits downside protection if execution falters on capex deployment.
The current grey market premium (GMP) is ₹7, which is 5% above the upper band price of ₹140. This implies an estimated listing price of around ₹147. GMP is informal and unregulated — treat it as a sentiment indicator, not a guarantee.
The minimum lot size is 1000 shares. At the upper band price of ₹140, the minimum investment per retail application is ₹140,000. You can apply for up to 13 lots (₹1,820,000) under the retail category (up to ₹2 lakh).
The IPO opens on 10th Sep 2026. It closes on 15 Sep 2026. Allotment is expected on 16 Sep 2026. Refunds initiate on 17 Sep 2026. Listing on BSE and NSE is on 18th Sep 2026.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 15 Sep 2026. The minimum investment is ₹140,000 for one lot (1000 shares). The company trades at 0.76× sector midpoint with exceptional 188.5% PAT CAGR and 41.6% revenue growth, supported by strong 26.81% ROCE and manageable 0.86× D/E. Key risk is thin 5.8% net margin, which limits downside protection if execution falters on capex deployment.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 15 Sep 2026. The IPO is priced at a P/E of 14.23x. Market cap at issue price is ₹81.91 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 1000 shares at ₹140 each, costing ₹140,000 per application. The issue closes on 15 Sep 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 'Panchatv Bharat'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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