Utkal Speciality Industries India IPO
Price Band
₹62 – ₹66
Issue Size
₹35 Cr
Lot Size
2000 shares
Min ₹1,32,000
Issue Dates
10 Jun – 12 Jun 2026
Listing Date
17 Jun 2026
About Utkal Speciality Industries India Limited
Manufacturer of paper-based products and packaging materials serving B2B and B2C customers. The company offers a broad range of paper-based alternatives and packaging solutions for everyday and special-purpose applications.
IPO Details
| Price Band | ₹62 – ₹66 |
| Face Value | ₹10 |
| Lot Size | 2000 shares(Min ₹1,32,000) |
| Issue Size | ₹35 Cr |
| Fresh Issue | ₹35 Cr |
| Listed On | NSE |
Objects of the Issue
Working capital requirement, repayment/prepayment of borrowings, purchase of machinery for new manufacturing facility at Khurda, Odisha, and general corporate purposes including issue expenses
Key Financial Metrics
EPS (Basic)
₹4.67
P/E Ratio
14.12x
ROE
35.42%
ROCE
23.03%
Debt / Equity
0.8
Financial Performance
| Particulars (₹ Cr) | FY23 | FY24 | FY24 | FY25 | 9M FY26 |
|---|---|---|---|---|---|
| Revenue | 46.23 | 44.15 | 44.15 | 50.28 | 40.9 |
| EBITDA | 4.23 | 6.19 | 6.19 | 9.22 | 7.76 |
| PAT | 2.21 | 3.24 | 3.24 | 6.68 | 5.48 |
| Total Assets | 35.27 | 37.6 | 37.6 | 44.04 | 48.63 |
| Net Worth | 6.07 | 9.95 | 9.95 | 21.64 | 27.12 |
| Total Borrowings | 25.41 | 25.43 | 25.43 | 17.37 | 17.16 |
Valuation
Market Capitalisation
P/E Ratio
Promoter Holding
Public Holding
Lot Size & Allocation
Investment by Category
| Category | Lot Size | Min Investment | Max Investment |
|---|---|---|---|
| Retail (RII) | 2 × 2000 | ₹1,32,000 | ₹1,32,000 |
| S-HNI | 3 × 2000 | ₹1,98,000 | ₹4,62,000 |
| B-HNI | 8 × 2000 | ₹5,28,000 | ₹4,62,000 |
Reservation / Allocation
| Category | Allocation | Cut-off |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 1.01% | No |
| NII (Non-Institutional Investors) | 39.6% | No |
| RII (Retail Individual Investors) | 59.4% | Yes |
| Employee Quota | 0% | No |
Registrar & Lead Managers
Registrar
Lead Managers (1)
Anchor Investors
| # | Investor | Type | Shares | Amount (₹ Cr) | % of Issue |
|---|---|---|---|---|---|
| 1 | Bandhan Small Cap Fund | Domestic MF | 26,66,664 | 12 | 8.64% |
| 2 | Ampersand Growth Opportunities Fund Scheme-I | Alternative Investment Fund (AIF) | 22,22,225 | 10 | 7.2% |
| 3 | CP Capital Ltd. | Institutional Investor | 21,44,367 | 9.65 | 6.95% |
| 4 | Visionary Value Fund | Alternative Investment Fund (AIF) | 11,12,220 | 5 | 3.6% |
| 5 | Innovative Vision Fund | Alternative Investment Fund (AIF) | 11,12,220 | 5 | 3.6% |
Peer Comparison
| Company | Listed | Mkt Cap (₹ Cr) | EPS (₹) | P/E | ROE % |
|---|---|---|---|---|---|
| Utkal Speciality Industries India IPO (this IPO) | — | 163.46 | ₹4.67 | 14.12x | 35.42% |
| JK Paper Ltd | Yes | 8,200 | ₹22.4 | 18.5x | 16.8% |
| West Coast Paper Mills Ltd | Yes | 4,500 | ₹35.1 | 12.8x | 19.4% |
| Emami Paper Mills Ltd | Yes | 1,200 | ₹8.75 | 15.6x | 11.2% |
| Century Pulp & Paper (Aditya Birla Group) | No | — | — | — | — |
| Tamil Nadu Newsprint and Papers Ltd | Yes | 1,400 | ₹14.2 | 10.9x | 9.8% |
Data as of 31/3/2025
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