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Shree Balaji (Mala) Textiles Ltd IPO
Shree Balaji (Mala) Textiles Ltd
₹2,64,000 /4000 sharesMinimum investment
IPO listing details
Listed on
29 Jul '26
Issue price
₹70.00
Listing price
₹133.00
Listing gains
₹63.00 (90.00%)
Exchange
--
IPO details
Minimum investment
₹2,64,000
Price range
₹66 - ₹70
Lot size
2,000
Issue size
18.90 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers113.55x
Non-Institutional Investor184.85x
Retail Individual Investor224.15x
Total184.34x
As of 24 Jul'26, 04:50 PM
Schedule
22 Jul 2026
IPO open date
24 Jul 2026
IPO close date
27 Jul 2026
Allotment date
27 Jul 2026
Funds unblock or debit
29 Jul 2026
Tentative listing date
About
Founded in
2005
MD/CEO
Mr Binod Kumar Kedia
Parent organisation
Shree Balaji (Mala) Textiles Ltd
Shree Balaji Mala Textiles Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company has been engaged in the cotton saree business for over three decades through its promoters. It claims to have developed long-standing relationships with suppliers, weavers, brokers, dealers, wholesalers, and retailers across textile hubs such as Surat, Mumbai, Kolkata, Jetpur, and Rajkot, supporting its procurement and distribution network.
The company operates a pan-India B2B distribution network for its products. As of March 31, 2026, it sold its products through a network of over 105 brokers, 13 dealers, 69 wholesalers, and around 3,000 retailers across Central, East, North, Northeast, South, and West India.
The company claims to have an asset-light manufacturing model supported by an established job worker network. Around 95% of its products are manufactured through job workers, and it has worked with more than 200 job workers over the last three financial years while also operating its own manufacturing facility at Jetpur, Gujarat.
The company offers a diversified portfolio of women’s sarees, with cotton sarees contributing the majority of its revenue. Its product catalogue includes multiple designs across different occasions, fabrics, weaves, and patterns, and it also began distributing Garden Vareli synthetic sarees from June 2025 to expand its product offerings.
The company claims to have warehousing and showroom infrastructure to support inventory management. It operates a 3,774 sq. ft. showroom in Kolkata’s textile market along with four nearby warehouses that facilitate inventory storage and movement.
The company’s profitability has grown over the last three financial years. Profit after tax increased from Rs 2.46 crore in FY23 to Rs 4.95 crore in FY24 and Rs 5.85 crore in FY25.
The company derives the majority of its revenue from the sale of cotton sarees. Cotton sarees contributed Rs 192.35 crore (90.75%), Rs 174.47 crore (90.39%), and Rs 182.72 crore (93.45%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. Any decline in demand for cotton sarees or changes in consumer preferences could adversely affect the company’s business, financial condition, and results of operations.
The company relies heavily on third-party job workers for its manufacturing operations. Approximately 95% of its products are manufactured through job workers, and it incurred Rs 60.72 crore, Rs 63.88 crore, and Rs 59.70 crore towards job work expenses in FY26, FY25, and FY24, respectively. Any disruption in the operations of these job workers, increase in manufacturing costs, quality issues, or inability to secure adequate production capacity could adversely affect the company’s business, financial condition, and results of operations.
The company is involved in certain ongoing legal proceedings. These cases are pending before various courts and legal forums. Any adverse ruling in any of these proceedings could adversely affect the company’s business, financial condition, and results of operations.
The company reported negative cash flow from operating activities in FY26. It recorded negative operating cash flow of Rs 13.26 crore in FY26, compared with positive operating cash flows of Rs 8.80 crore and Rs 4.00 crore in FY25 and FY24, respectively. According to the prospectus, this was primarily due to changes in working capital management, including timely payments to suppliers and service providers and funds being maintained as fixed deposits under lien for working capital and overdraft facilities. Sustained negative cash flows from operating activities could result in liquidity constraints that could adversely affect its business, financial condition, and results of operations.
The company derives a significant portion of its revenue through its network of retailers. Retailers contributed Rs 97.79 crore (46.13%), Rs 90.15 crore (46.70%), and Rs 54.30 crore (27.77%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. Any loss of business from these retailers, delays in payments, or inability to retain and expand its distribution network could hurt the company’s profitability and financial condition.
The company generates a substantial portion of its revenue from eastern India. Revenue from the region contributed Rs 192.83 crore (90.97%), Rs 172.32 crore (89.27%), and Rs 177.98 crore (91.02%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. Any adverse economic, regulatory, political, social, or competitive developments in eastern India, or the company’s inability to expand its presence in other regions, could adversely affect its business, financial condition, and results of operations.
The company’s top 10 customers contribute a significant portion of its revenue. The top 10 customers contributed Rs 39.41 crore (18.59%), Rs 27.95 crore (14.48%), and Rs 27.62 crore (14.12%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. Any failure to retain these key customers, expand its customer base, or any reduction in business or delay in payments from these customers could adversely affect the company’s business, financial condition, and profitability.
The company depends on a limited number of suppliers for its raw material requirements and does not have long-term supply agreements with most of them. The top 10 suppliers accounted for Rs 51.80 crore (47.83%), Rs 59.79 crore (57.52%), and Rs 64.34 crore (60.08%) of its total purchases in FY26, FY25, and FY24, respectively. Any disruption in supply, inability to maintain relationships with these suppliers, or fluctuations in raw material prices could adversely affect the company’s business, financial condition, and profitability.
The company’s sales are subject to seasonal fluctuations, with higher demand during festivals such as Durga Puja, Diwali, and other regional festive periods. As a result, its revenue, cash flows, and operating performance may vary across different quarters. Weaker-than-expected festive demand, inventory build-up, or changes in consumer purchasing patterns during peak seasons could adversely affect the company’s business, financial condition, and profitability.
The company operates in the highly competitive and fragmented apparel industry, where it competes with both organised and unorganised players. Intense competition may result in pricing pressure, lower profit margins, and loss of market share. Any inability to compete effectively or adapt to changing customer preferences could adversely affect the company’s business, financial condition, and results of operations.
As of March 31, 2026, the company had total outstanding borrowings of Rs 69.08 crore. Any failure to service or repay these borrowings, or to meet the terms of its financing arrangements, could adversely affect the company’s business, financial condition, and results of operations.
Application details
For Shree Balaji Mala Textiles IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹66 - ₹70 | ₹2 - ₹5 Lakhs | 2000 |
About
Objective of Shree Balaji (Mala) Textiles IPO Proceeds
|
Particulars |
Estimated Amount (in ₹ Cr.) |
|
Funding the working capital requirements of the company |
16.50 |
|
General corporate purposes |
[.] |
|
Total |
[.] |
Book Running Lead Manager & Registrar of Shree Balaji (Mala) Textiles IPO
|
Book Running Lead Manager |
GYR Capital Advisors Private Limited |
|
Registrar to the Issue |
KFin Technologies Limited |
Key Performance Indicators (KPIs) of Shree Balaji (Mala) Textiles Ltd.
|
KPI |
Value (for the fiscal year ended March 31, 2026) |
|
ROE (%) |
23.82 |
|
ROCE (%) |
15.65 |
|
EBITDA Margin (%) |
7.30 |
|
Debt/Equity Ratio |
2.51 |
|
PAT Margin (%) |
2.76 |
|
EPS (Pre-IPO) (₹) |
8.13 |
|
Return on Net Worth (RoNW) (%) |
21.28 |
Shree Balaji (Mala) Textiles Ltd. Contact Details
|
Company Name |
Shree Balaji (Mala) Textiles Limited |
|
Registered Office |
65, Sir Hariram Goenka Street, Ground Floor, Block-A, Bangur Arcade, Kolkata, West Bengal, India, 700007 |
|
Phone |
+91 8910014345 |
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Website |
Shree Balaji (Mala) Textiles IPO Registrar Contact Details
|
Company Name |
KFin Technologies Limited |
|
Phone |
+91 40 6716 2222 |
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Website |