Denim fabric manufacturer and distributor Panchatv Bharat Ltd has fixed the price at ₹140 per share for its ₹24.58 crore initial public offering (IPO), which will open for public subscription on September 10, 2026. According to the latest announcement, the New Delhi-based company is offering 17.56 lakh equity shares with a face value of ₹10 each. The SME IPO will close on Tuesday, September 15, 2026, and the equity shares are proposed to be listed on the BSE SME platform. The full issue price of ₹140 per equity share is payable at the time of application, with a market lot of 1,000 equity shares and retail investors required to apply for a minimum of 2 lots (2,000 shares), making the minimum investment ₹2.80 lakh. Exchange bidding runs from 10:00 am to 5:00 pm IST each day, with UPI mandates required to be approved by 5:00 pm on the closing day.
Mark Corporate Advisors Pvt Ltd is the sole book-running lead manager to the issue, as reported by Moneycontrol. The company proposes to utilise the net proceeds from the issue to set up a corporate office and warehousing facility in Ahmedabad, meet working capital requirements and general corporate purposes. According to the offer documents, this strategic expansion will strengthen the company's operational infrastructure while supporting its working capital requirements and enabling business expansion. The proposed utilisation of proceeds is aimed at strengthening the company's operational infrastructure, supporting working capital needs and enabling sustainable business expansion. ₹1,150 lakh will be used to meet additional working capital needs, including inventory and trade receivables to support the expansion of wholesale operations. ₹450 lakh will be spent on purchasing property for operational, corporate or warehousing facilities. ₹300 lakh will be used for general corporate purposes, including routine business expenses and strategic initiatives. ₹208.16 lakh will cover issue-related expenses such as lead manager, legal, registrar, listing, printing and regulatory fees.
The company has demonstrated robust financial growth with total revenue increasing from ₹39.31 crore in 2024-25 to ₹56.87 crore in 2025-26. As reported by Moneycontrol, profit after tax rose from ₹2.82 crore in FY25 to ₹4.03 crore in FY26, reflecting improved operational efficiency and market performance. The company recorded a profit after tax margin of approximately 7.09 percent in financial year 2025-26, positioning it well for its public market debut. This growth trajectory demonstrates the company's strong operational performance and market positioning in the denim fabric sector. The company's EBITDA margin improved from 9.29% in FY24 to 19.90% in FY25, while return on capital employed (ROCE) increased from 26.81% to 31.25% over the same period, indicating enhanced operational efficiency and capital utilization. The company's Earning Per Share (EPS) stands at ₹9.84 (Basic) with a Price/Earning P/E Ratio of 14.23 and Return on Net Worth (RoNW) of 31.93%.
The shares are scheduled to list on BSE SME on September 18, 2026, with trading starting at 10:00 am IST after a special pre-open session that discovers the listing price. Allotment is expected on September 16, 2026, with refunds and demat credit following on September 17, 2026. Applications are made through a broker's app or bank's net banking using ASBA, or by UPI mandate, between September 10-15, 2026. The amount is only blocked, not debited, until allotment. Retail bids of up to ₹2,00,000 are placed at the cut-off price of ₹140, with a UPI mandate required to be approved by 5:00 pm on the closing day. The minimum application is ₹2,80,000 for one lot of 2,000 shares, making this issue suitable only for HNI category investors. The registrar for the issue is Bigshare Services Pvt. Ltd., responsible for allotment and investor grievance handling.
Panchatv Bharat Limited operates an asset-light business model, relying on third-party processors, dye houses and leased looms for activities such as yarn processing, warp dyeing, weaving and finishing. The company mainly deals in unstitched denim, shirting and suiting fabrics used for bottom-wear and upper-wear, primarily sold under its NJD (Neelmadhav Textiles) brand. The company serves 98 customers across six states in FY2024-25, up from 83 customers in FY2023-24, with repeat customers contributing around 45.24% of revenue. The company operates across Delhi, Uttar Pradesh, Gujarat, Haryana, Rajasthan and Odisha, giving it access to multiple textile markets. The company plans to increase its presence beyond its existing six states and expand its customer base through additional sales and marketing personnel, while also entering the retail chain segment through sampling and supply arrangements. As of June 30, 2025, the company had 13 employees and is established in 2024.
