Striders Impex IPO (SME)
Striders Impex IPO is a book build SME issue of Rs. 36.29 crore, comprising a fresh issue of 0.45 crore equity shares aggregating to Rs. 32.62 crore and an offer for sale of 0.05 crore equity shares aggregating to Rs. 3.66 crore.
The IPO opens on February 26, 2026, and closes on March 2, 2026. The allotment is expected on March 4, 2026, and the listing is tentatively scheduled for March 6, 2026 on NSE SME.
The IPO is offered at a price band of Rs. 71 – Rs. 72 per share, and the lot size is 1,600 shares. The minimum investment for retail investors is Rs. 2,30,400 (3,200 shares) (based on upper price), and for HNI investors, Rs. 3,45,600 (4,800 shares).
Lead Manager: Capital Square Advisors Pvt.Ltd.
Registrar: MUFG Intime India Pvt.Ltd.
Market Maker: Nikunj Stock Brokers Ltd.
🕗 Last Update: 22 February 2026, 6.00 AM
👉 GMP | Reviews | Subscription | Allotment
👉 Chanakya Grey Market Intelligence – 8 PM Edition | News Crux |
👉 Power Calls | Breakout Stocks | Coffee Can Portfolio |
IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | February 26, 2026 |
| IPO Close Date | March 2, 2026 |
| Allotment Date | March 4, 2026 |
| Refunds Initiation | March 5, 2026 |
| Credit to Demat | March 5, 2026 |
| Listing Date | March 6, 2026 |
IPO Details
| Particulars | Details |
|---|---|
| Face Value | Rs. 10 per share |
| Issue Price | Rs. 71 – Rs. 72 |
| Lot Size | 1,600 shares |
| Sale Type | Fresh Issue & OFS |
| Total Issue Size | 50,40,000 shares (Rs. 36.29 Cr) |
| Market Maker Portion | 2,52,800 shares (Rs. 1.82 Cr) – Nikunj Stock Brokers Ltd. |
| Net Offer to Public | 47,87,200 shares (Rs. 34.47 Cr) |
| Issue Type | Book Building Issue |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 1,40,85,680 shares |
| Shareholding Post-Issue | 1,86,16,880 shares |
| Market Cap (Pre-IPO) | Rs. 134.04 Cr |
Reservation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 2,52,800 | 5.02% |
| QIB | 23,90,400 | 47.43% |
| − QIB (Ex. Anchor) | – | – |
| NII (HNI) | 7,20,000 | 14.29% |
| Retail Individual Investors | 16,76,800 | 33.27% |
| Total | 50,40,000 | 100.00% |
Application Details
| Application | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min / Max) | 2 | 3,200 | 2,30,400 |
| S-HNI (Min) | 3 | 4,800 | 3,45,600 |
| S-HNI (Max) | 8 | 12,800 | 9,21,600 |
| B-HNI (Min) | 9 | 14,400 | 10,36,800 |
Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 95.49% |
| Promoter Holding Post-Issue | 69.52% |
Promoters: Kumarshri Rajkumar Bahety, Mariya Mustafa Kapasi and Mustafa Esmail Kapasi.
About Striders Impex Ltd.
Incorporated in 2021, Striders Impex Limited is primarily engaged in the business of licensing, own brand development, and distribution of toys and kids’ consumer merchandise.
The company offers end-to-end solutions from product design and development to sourcing, manufacturing and distribution, catering to retail formats across India and select international markets.
The company is strategically investing in building its direct-to-consumer online channels through e-commerce platforms, while continuing to strengthen its offline distribution network.
On the domestic front, the company aims to expand its retail distribution by deepening its presence across more cities, while continuing its supplies to premium retail chains such as Timezone and Landmark.
Products: Licensed merchandise, proprietary brands, novelties, plush toys, interactive plush, stationery, activity sets, children’s accessories, school bags, water bottles, and lunch boxes.
As on 31st December, 2025, the company had total of 36 employees.
Competitive Strengths:
Asset-Light Business Model
Trusted Licensing Partnerships with Global Brands
Brand Equity and Consumer Liking
Strategic Presence in High-Growth Markets
Diversified Revenue Base Across Channels and Geographies
Company Financials (Rs. crore – Restated Consolidated)
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 58.83 | 48.70 | 29.45 |
| Total Income | 49.61 | 61.95 | 41.77 |
| Profit After Tax | 4.01 | 8.41 | 4.39 |
| EBITDA | 6.49 | 9.32 | 5.31 |
| Net Worth | 23.53 | 14.88 | 6.47 |
| Reserves & Surplus | 10.04 | 15.06 | 6.46 |
| Total Borrowings | 22.92 | 20.55 | 14.65 |
Objects of the Issue (Rs. crore)
| S.No. | Objects of the Issue | Amount |
|---|---|---|
| 1 | Funding of working capital requirements of the Company | 10.00 |
| 2 | Investment in Striders FZ LLC, wholly owned subsidiary, to fund its working capital requirements | 4.50 |
| 3 | Investment in a newly wholly owned subsidiary in mainland UAE to fund its working capital requirements | 6.50 |
| 4 | Repayment of Loans | 3.00 |
| 5 | General corporate purposes | Balance |
Key Performance Indicators
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROCE | 25.98% | 57.96% |
| Debt/Equity | 0.97 | 1.36 |
| RoNW | 17.05% | 55.81% |
| PAT Margin | 8.09% | 13.59% |
| EBITDA Margin | 13.09% | 15.07% |
| Price to Book Value | 4.22 | 6.49 |
Company Contact
| Particulars | Details |
|---|---|
| Company Name | Striders Impex Ltd. |
| Address | 14th Floor, Office No. 1406 & 1407 Ajmera Sikova, Sikova Industrial Marg, LBS Marg, Opp. Damodar Park, Nr Ashok Mill, Ghatkopar(W), Mumbai, Maharashtra – 400086 |
| Phone | 022-40158212 |
| cs@striders.biz |
IPO Lead Manager(s)
| Particulars | Details |
|---|---|
| Lead Manager | Capital Square Advisors Pvt.Ltd. |
IPO Registrar
| Particulars | Details |
|---|---|
| Registrar | MUFG Intime India Pvt.Ltd. |
| Phone | +91-22-4918 6270 |
| stridersimpex.smeipo@in.mpms.mufg.com | |
| Website | Visit Website |
Chanakya IPO Review – by Paresh Gordhandas, CA & Research Analyst
| Particulars | Details |
|---|---|
| Analyst View | Striders Impex operates in the licensed toys and kids’ merchandise segment with an asset-light model spanning design, sourcing and distribution. The issue proceeds support working capital and overseas subsidiary funding, which can help scale distribution and D2C channels. Key monitorables include seasonality, inventory/working capital cycle, licensing dependence and sustainability of margins. Based on recent financial trends and SME liquidity risks, investors should track valuation comfort and execution capability. |
| Chanakya View | NEUTRAL / HIGH RISK APPLY – suitable for investors comfortable with SME volatility. Listing outcome may remain muted if toy/merchandise sector sentiment stays selective. |
Quicklinks
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
- Analysis by Kotak Securities
- Market Analysis by HDFC Securities
- Technical Analysis by Kotak Securities
- Technical Analysis by Samco Securities
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.