Antala Industries Ltd IPO
Packaging
Price Band
₹62 – ₹66
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹264000
Issue Size
₹23.33Cr
Opens
2026-10-29
Closes
2026-11-05
Listing
11-11-2026
Subscription Status
Qualified Institutional Buyers
66.72 x
Non-Institutional Investor
37.38 x
Retail Individual Investor
5.1 x
Total
12.09 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE15Z101013
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Antala Industries Limited is engaged in the manufacturing, processing, printing, laminating and supply of industrial and commercial packaging products. The company's product portfolio includes Biaxially Oriented Polypropylene (BOPP) bags, BOPP printing rolls, BOPP lamination rolls, polypropylene (PP) woven bags, and PP woven lamination rolls. The company supplies packaging products to industries such as food processing, fertilisers, chemicals, cement, construction, textiles, and seeds. Its products are available in different sizes, capacities, and specifications, with customisation options for printing, lamination, and finishing. The company operates a manufacturing facility in Rajkot, Gujarat, equipped with machinery for extrusion lamination, rotogravure printing, multicolour printing, cutting, stitching, and finishing. The facility supports various stages of production, from printing and lamination to the packaging of finished products. The company was originally established as a partnership firm under the name M/s Octagon Industries on April 30, 2021, and was subsequently converted into a public limited company under the name Antala Industries Limited on August 5, 2024. Use of proceeds: The IPO is a fresh issue of shares. The proceeds from the issue will be used for the following purposes: To meet working capital requirements - Rs 10.68 crore To meet the requirements of capital expenditure towards purchase of machinery -Rs 5.89 crore General corporate purposes
Pros
- • Antala Industries is engaged in the manufacture of five categories of packaging products, including BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags, and PP woven lamination rolls. It caters to industries such as cement, chemicals, fertilisers, FMCG, and textiles.
- • The company has seen a consistent increase in revenue from operations and profit after tax (PAT). The revenue from operations increased from Rs 12.51 crore in FY24 to Rs 31.85 crore in FY25 and Rs 47.40 crore in FY26. Its profit after tax (PAT) also increased from Rs 0.88 crore to Rs 1.82 crore and Rs 4.24 crore during the same periods, respectively.
- • The company has reported an increase in capacity utilisation across its manufacturing operations. Printing machinery utilisation increased from 20.07% in FY24 to 51.26% in FY25 to 76.05% in FY26, while lamination machinery utilisation rose from 20.23% to 51.68% to 76.67% during the same period. The company's printing machinery installed capacity increased from 330 lakh metres per annum in FY24 to 370.63 lakh metres per annum to 442.50 lakh metres per annum in FY26, while the capacity utilisation during the same period stood at 66.23 lakh metres per annum, 189.98 lakh metres per annum, and 336.50 lakh metres per annum.
Cons
- • Despite a decline in customer concentration over the years, Antala Industries continues to derive a significant portion of its revenue from its top 10 customers. These customers contributed Rs 11.80 crore (94.28%) in FY24, Rs 14.93 crore (46.87%) in FY25, and Rs 22.48 crore (47.43%) in FY26 to its revenue from operations, respectively. The loss of major customers or a reduction in their orders could adversely affect the company's revenue and profitability.
- • The company's revenue is geographically concentrated in Gujarat, which accounted for Rs 12.45 crore (99.49%), Rs 25.55 crore (80.22%), and Rs 33.70 crore (71.08%) of its revenue from operations in FY24, FY25, and FY26, respectively. Any adverse economic, regulatory or operational developments in the state could significantly affect the company's business and financial performance.
- • The company depends heavily on Gujarat for raw material procurement. Purchases from the state amounted to Rs 10.73 crore (99.97%), Rs 25.71 crore (96.59%), and Rs 38.66 crore (91.80%) of total raw material purchases in FY24, FY25 and FY26, respectively. Any disruption in regional supply chains could affect production schedules and increase procurement costs.
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