Shree Balaji (Mala) Textiles shares made their stock market debut today on the BSE SME platform, listing at a 90% premium to the issue price of ₹70. The SME IPO received exceptional investor response with an oversubscription of 200 times, as reported by Moneycontrol. The company's shares were initially listed at ₹133, but witnessed strong profit booking that drove them to a 5% lower circuit to ₹126.35. The IPO was open for subscription from July 22-24, 2026, with the allotment finalized on July 27, 2026, and shares credited to demat accounts on the same day. About 10.24 lakh shares changed hands at the counter, with the stock hitting a high of ₹139.65 and low of ₹126.35.
The Shree Balaji (Mala) Textiles IPO shares were listed at ₹133, representing a 90% premium to the issue price of ₹70, significantly exceeding expectations from the grey market premium of ₹56 per share. The latest GMP stood at ₹56 per share, implying an 80% premium over the IPO's upper price band of ₹70, with the estimated listing price around ₹126 per share. The SME IPO will be listed on BSE SME today, July 29, 2026, with the company planning to use the proceeds mainly to fund its working capital needs. Out of the total issue proceeds of ₹18.90 crore, ₹16.50 crore has been earmarked for working capital requirements, with the balance allocated towards general corporate purposes.
The IPO received overwhelming response across all investor categories, with retail investors leading the demand at 228.24 times subscription, followed by Non-Institutional Investors (NIIs) at 185.23 times and Qualified Institutional Buyers (QIBs) at 113.55 times, according to The Economic Times. The IPO comprised 27 lakh equity shares with a price band of ₹66-70 per share, with 1.36 lakh equity shares reserved for subscription by market maker and 25.64 lakh equity shares as net issue. The net issue will constitute 25.89% of the post-issue paid-up equity share capital, while the issue and net issue will constitute 27.26% and 25.89% respectively of the total share capital. Ahead of the issue, the company mobilised ₹5.35 crore from anchor investors on July 21, providing an early vote of confidence before the public subscription opened.
Established in 2005, Shree Balaji (Mala) Textiles Ltd. manufactures and wholesales cotton sarees for India's B2B textile market, marketing its products under the 'Mala Saree' brand across multiple price segments. Based in West Bengal, the company offers sarees across various price segments and has built a nationwide distribution network comprising over 105 brokers, 13 dealers, 69 wholesalers, and nearly 3,000 retailers as of March 31, 2026. Its operations extend across Central, East, North, Northeast, South, and West India, giving it a strong presence in the domestic textile market. The company recorded consolidated revenue from operations of ₹212.40 crore and consolidated net profit of ₹5.85 crore for the period ended March 31, 2026, with total 47 employees. Its portfolio includes cotton, embroidered and fancy sarees, serving both everyday and occasion wear segments across low, mid and premium price categories, with an average selling price of around ₹270 per saree.
The company demonstrated strong financial performance in FY26, with total income rising 9.8% year-on-year to ₹212.40 crore compared with ₹193.44 crore in FY25, driven by higher business volumes, as reported by The Economic Times. Profit after tax (PAT) grew at an even faster pace, increasing 18.2% to ₹5.85 crore from ₹4.95 crore a year earlier, reflecting stronger operating leverage, disciplined cost management and the company's ability to translate revenue growth into improved profitability. Ahead of the issue, the company mobilised ₹5.35 crore from anchor investors on July 21, providing an early vote of confidence before the public subscription opened. The IPO was entirely a fresh issue of 27 lakh equity shares, raising ₹18.90 crore, with the company's focus on affordability, quality and product innovation helping strengthen its presence in the organised saree market.
