Twinkle Papers Ltd IPO
Paper
Price Band
₹64 – ₹69
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹276000
Issue Size
₹27.52Cr
Opens
2026-06-29
Closes
2026-07-01
Listing
06-07-2026
Subscription Status
Qualified Institutional Buyers
2.09 x
Non-Institutional Investor
0.12 x
Retail Individual Investor
0.26 x
Total
0.27 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0R3M01018
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Twinkle Papers Limited is engaged in the manufacturing of corrugated boxes and polymer-based moulded packaging products. The company offers a range of products including corrugated boxes, plastic pallets, crates, HDPE cans, poly jars, jerry cans, drums, polythene sheets, poly bags, and plastic chairs. These products are manufactured using blow moulding, injection moulding, and rotational moulding technologies and are used across industries such as food, dairy, pharmaceuticals, textiles, and construction chemicals. The company operates its manufacturing facility in Malerkotla, Punjab, and sells its products under the "Twinkle" brand. The company also has an in-house research and development (R&D) team that works on customised polymer-based packaging solutions.
Pros
- • Twinkle Papers claims to offer a diversified product portfolio that includes corrugated boxes, plastic pallets, crates, drums, cans, jerry cans, poly jars, and other packaging products. The ability to manufacture products in different sizes, colours, and specifications enables the company to cater to varied customer requirements, it claims.
- • The company serves customers across multiple industries, including textiles, paper, food and beverages, healthcare, chemicals, paints, power and battery manufacturing, and telecommunications.
- • The company claims to have expanded its manufacturing capabilities over the years by adding new technologies and machinery. It installed an injection moulding machine for plastic crates in 2021, a rotational moulding machine for pallets in 2022, and another injection moulding machine for plastic pallets in 2023.
Cons
- • The company's plastic products segment, comprising pallets, crates, cans, poly jars, jerry cans, and drums, contributed Rs 53.66 crore (74.45%), Rs 64.08 crore (78.49%), Rs 35.19 crore (60.79%), and Rs 32.85 crore (60.34%) to revenue from operations during the nine months ended December 31, 2025, and FY25, FY24, and FY23, respectively. Any decline in demand for these products could negatively affect the company's revenue and profitability.
- • The company is operating in a commoditised market segment with low entry barriers and low margins. Due to this factor, investors should keep their return expectations in check
- • The top 10 customers contributed 81.06%, 70.38%, 57.48%, and 66.48% of revenue during the nine months ended December 31, 2025, and FY25, FY24, and FY23, respectively. Any failure to retain these key customers, diversify the customer base, or a reduction in business from these customers can adversely affect the company's business and financial condition.
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