Antala Industries IPO

SME • BSE SME • Fresh capital only

ALLOTMENT SOONSMEBSE SME

Antala Industries

GMP TODAY

₹0

0.00% • Est. list ₹66

Price band

₹62 – ₹66

Lot size

2000 shares

Min investment

₹1,32,000

Issue size

₹22.98 Cr

About the company

Antala Industries Limited is based in Rajkot, Gujarat. It was incorporated in August 2024 and makes, prints, laminates and supplies industrial and commercial packaging products. Its products are BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags and PP woven lamination rolls. They are used in food processing, fertilizers, chemicals, cement and seeds. It runs one integrated plant in Rajkot with extrusion, coating and lamination, rotogravure printing, stitching and finishing. The company holds ISO 9001:2015, ISO 14001:2015, ISO 22000:2018 and ISO 45001:2018 certifications, and its promoters have nearly three decades of experience in packaging. As of 30 September 2026 it had 11 employees. Total income was Rs 47.53 crore in FY2026 against Rs 31.98 crore in FY2025, and profit after tax was Rs 4.24 crore in FY2026.

Antala Industries is a Rajkot based maker of BOPP and PP woven packaging products. It plans to raise Rs 22.98 crore at an upper band of Rs 66 per share, all of it fresh issue, and its total income was Rs 47.53 crore in FY2026.

IPO details

Issue price: ₹66
Price band: ₹62 – ₹66
Face value: ₹10
Lot size: 2000
Min investment: ₹1,32,000
Issue size: ₹22.98 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 8070

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	2,000	₹1,32,000
Retail (Max)	1	2,000	₹1,32,000
HNI (Min)	2	4,000	₹2,64,000

Investor reservation

CATEGORY	RESERVED
QIB	36,000 shares (1.09% of the Offer)
NII	5,10,000 shares (15.43% of the Offer)
Retail	27,60,000 shares (83.48% of the Offer)

Objects of the issue

1To meet Working Capital Requirements10.68

2To meet the requirements of Capital Expenditure towards Purchase of Machinery5.89

3General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	30 Sep 2026	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	34.88	28.41	25.47	5.97
Total Income	30.20	47.53	31.98	12.59
Profit After Tax	4.19	4.24	1.82	0.89
EBITDA	5.76	6.15	2.82	1.36
NET Worth	22.17	17.03	12.19	3.54
Reserves and Surplus	13.49	8.79	3.02
Total Borrowing	1.75	4.19	3.85	0.36

Key performance indicators

P/E Ratio

9.58

EPS (₹)

6.89

RoE

21.36%

RoCE

26.61%

RoNW

18.88%

PAT Margin

13.90%

EBITDA Margin

19.12%

Debt / Equity

0.08

NAV (₹)

20.67

✓ Strengths

• Total income rose 48.62% from Rs 31.98 crore in FY2025 to Rs 47.53 crore in FY2026, after Rs 12.59 crore in FY2024.

• Profit after tax grew 132.97% from Rs 1.82 crore in FY2025 to Rs 4.24 crore in FY2026, and was Rs 0.89 crore in FY2024.

• EBITDA rose 118.09% from Rs 2.82 crore in FY2025 to Rs 6.15 crore in FY2026, an EBITDA margin of 12.97% in FY2026.

• In the six months ended 30 September 2026, total income was Rs 30.20 crore and profit after tax was Rs 4.19 crore, a PAT margin of 13.90%.

• Net worth rose from Rs 12.19 crore on 31 March 2025 to Rs 17.03 crore on 31 March 2026 and Rs 22.17 crore on 30 September 2026.

• Total borrowing fell from Rs 4.19 crore on 31 March 2026 to Rs 1.75 crore on 30 September 2026, and the debt to equity ratio is 0.08.

• The P/E is 9.58 at the upper band of Rs 66, based on post-issue EPS of Rs 6.89. RoE is 21.36% and RoCE is 26.61% for the six months ended 30 September 2026.

• The issue is fresh only, 34,82,000 shares worth Rs 22.98 crore. Rs 10.68 crore goes to working capital and Rs 5.89 crore to buying machinery.

⚠ Risks

• The latest period is a stub. The six months to 30 September 2026 are not a full year, so RoE, RoCE and PAT margin for that period are not comparable with full-year figures.

• The post-issue P/E of 9.58 and EPS of Rs 6.89 use earnings of the six months to 30 September 2026 taken on an annual basis, as per the source note. The pre-issue P/E is 13.52 on EPS of Rs 4.88. Full year earnings may not match this.

• The post-issue promoter holding is not stated at the source yet. Promoters hold 72.92% before the issue.

• The company was incorporated in August 2024, so its record under the present entity is short. Total assets jumped from Rs 5.97 crore on 31 March 2024 to Rs 25.47 crore on 31 March 2025.

• The company had only 11 employees as of 30 September 2026, and the source gives no customer or order data, so concentration cannot be checked.

• Margins moved up fast. PAT margin was 8.94% in FY2026 against 13.90% in the six months to 30 September 2026, and it may not hold.

• Rs 10.68 crore, about 46.48% of the Rs 22.98 crore issue, goes to working capital, and the source gives no amount for general corporate purposes.

• There are seven named promoters, and the lead manager is Vatsa Capital Venture Pvt.Ltd., the only BRLM named.

• This is an SME issue. One lot is 2,000 shares, which is about Rs 1.32 lakh at the upper band of Rs 66, and SME shares usually trade in low volume after listing.

Promoters & holding

Rajeshkumar Chandulal Antala, Lataben Rajeshbhai Antala, Pankajkumar Chandulal Antala, Hetalben Pankajkumar Antala, Nevil Pankajbhai Antala, Aaryan Rajesh Antala and Shaily Rajeshkumar Antala

Pre-issue promoter holding

72.92%

Post-issue promoter holding

—

Promoters hold 72.92% before the issue. The source does not state the holding after the issue yet.

Data refreshed 09 Nov 2026, 02:30 pm IST. GMP is unofficial market sentiment, not investment advice.