Published: 8 June 2026 | 9.30 PM
Last Updated: 8 June 2026 | 9.00 PM
IPO Overview / Intro
Utkal Speciality IPO is an NSE SME book build issue aggregating to Rs. 34.54 crore. The IPO consists entirely of a fresh issue of 52.34 lakh equity shares.
The IPO opens for subscription on 10 June 2026 and closes on 12 June 2026. The shares are proposed to be listed on the NSE SME platform with a tentative listing date of 17 June 2026.
Utkal Speciality Industries India Ltd is engaged in the manufacturing of paper-based products and packaging materials. The company offers a wide range of paper-based items used for functional, aesthetic, everyday and special-occasion requirements across consumer and business segments.
Key Highlights
| Particulars | Details |
|---|---|
| IPO Type | SME Book Build IPO |
| Issue Size | Rs. 34.54 Crore |
| Fresh Issue | Rs. 34.54 Crore |
| Offer For Sale | Nil |
| Price Band | Rs. 62 to Rs. 66 Per Share |
| Face Value | Rs. 10 Per Share |
| Listing Exchange | NSE SME |
| Lot Size | 2,000 Shares |
| Retail Application | 4,000 Shares |
| Market Cap | Rs. 128.92 Crore |
| Listing Date | 17 June 2026 (Tentative) |
👉 | IPO GMP | IPO Reviews | IPO Subscription | IPO Allotment
Utkal Speciality IPO GMP – Latest Update
| GMP Details | Value |
| Utkal Speciality IPO GMP Today | Updating Soon |
| Kostak Rate | Updating Soon |
| Subject to Sauda | Updating Soon |
Utkal Speciality IPO Subscription Status – Live Update
| Category | Subscription |
| QIB Category | Updating Soon |
| NII Category | Updating Soon |
| Retail Category | Updating Soon |
| Total Subscription | Updating Soon |
IPO Details at a Glance
| Particulars | Details |
| IPO Date | 10 June 2026 to 12 June 2026 |
| Listing Date | 17 June 2026 |
| Face Value | Rs. 10 Per Share |
| Price Band | Rs. 62 to Rs. 66 Per Share |
| Lot Size | 2,000 Shares |
| Issue Type | Book Build IPO |
| Listing At | NSE SME |
| Total Issue Size | 52,34,000 Shares |
| Fresh Issue | 52,34,000 Shares |
| Offer For Sale | Nil |
| Issue Size | Rs. 34.54 Crore |
| Reserved for Market Maker | 2,64,000 Shares |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
| Fresh Issue Excluding Market Maker | 49,70,000 Shares |
| Net Offered to Public | 49,70,000 Shares |
| Shareholding Pre Issue | 1,43,00,000 Shares |
| Shareholding Post Issue | 1,95,34,000 Shares |
| Market Cap | Rs. 128.92 Crore |
IPO Timetable
| Event | Date |
| IPO Open Date | 10 June 2026 |
| IPO Close Date | 12 June 2026 |
| Basis of Allotment | 15 June 2026 |
| Refund Initiation | 16 June 2026 |
| Credit of Shares | 16 June 2026 |
| Listing Date | 17 June 2026 |
Reservation
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
| QIB Shares Offered | 50,000 | 1.01% | 0.96% |
| NII Shares Offered | 19,68,000 | 39.60% | 37.60% |
| B-HNI Shares Offered | 13,14,000 | – | 25.11% |
| S-HNI Shares Offered | 6,54,000 | – | 12.50% |
| Retail Shares Offered | 29,52,000 | 59.40% | 56.40% |
| Market Maker Shares Offered | 2,64,000 | – | 5.04% |
| Total Shares Offered | 52,34,000 | 100.00% | 100.00% |
Lot Size
| Application Type | Lots | Shares | Amount |
| Retail Minimum | 2 | 4,000 | Rs. 2,64,000 |
| Retail Maximum | 2 | 4,000 | Rs. 2,64,000 |
| S-HNI Minimum | 3 | 6,000 | Rs. 3,96,000 |
| S-HNI Maximum | 7 | 14,000 | Rs. 9,24,000 |
| B-HNI Minimum | 8 | 16,000 | Rs. 10,56,000 |
Company Details
Utkal Speciality Industries India Ltd was incorporated on 1 September 2015 and is engaged in the manufacturing of paper-based products and packaging materials.
The company offers a broad range of products serving functional and aesthetic needs across different consumer categories. Its products are designed for everyday use as well as special occasions, aligning with the rising preference for sustainable and convenient paper-based alternatives.
The company caters to smaller manufacturers as well as end retailers who distribute its paper-based products and packaging materials. Its manufacturing unit is strategically located on the highway connecting Kolkata and Chennai, which supports logistics efficiency.
As on 31 March 2025, the company had 50 employees.
Competitive Strengths
| Key Strengths |
| Wide selection of SKUs |
| Strategic location on Kolkata-Chennai highway |
| Integrated end-to-end manufacturing unit |
| Lower freight cost advantage due to supplier location |
| Focus on customer satisfaction |
| Quality-driven paper-based product portfolio |
IPO Objects
| Sr. No. | Objects of the Issue | Est Amt (Rs. Crore) |
| 1 | Funding Incremental Working Capital Requirements | 5.31 |
| 2 | Prepayment or Repayment of Outstanding Borrowings | 11.00 |
| 3 | Purchase of Machinery for New Manufacturing Facility at Khurda, Odisha | 9.60 |
| 4 | General Corporate Purposes | – |
| 5 | Offer Related Expenses | – |
| Total | 25.91 |
Company Address
| Particulars | Details |
| Registered Office | IDCO Plot No. I/5/B, Food Processing Park, Khurda, Odisha – 752057 |
| Phone | +91 90401-34060 |
| compliance@utkalspeciality.com | |
| Website | Visit Website |
Lead Manager & Registrar
| Particulars | Details |
| Lead Manager | Affinity Global Capital Market Pvt. Ltd. |
| Registrar | Cameo Corporate Services Ltd. |
| Registrar Phone | +91-44-28460390 |
| Registrar Email | investor@cameoindia.com |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
Financials
| Particulars (Rs. Crore) | Dec 2025 | FY2025 | FY2024 | FY2023 |
| Total Assets | 48.63 | 44.04 | 37.60 | 35.27 |
| Total Income | 40.90 | 50.28 | 44.15 | 46.23 |
| Profit After Tax | 5.48 | 6.68 | 3.24 | 2.21 |
| EBITDA | 7.76 | 9.22 | 6.19 | 4.23 |
| Net Worth | 27.12 | 21.64 | 9.95 | 6.07 |
| Reserves & Surplus | 12.82 | 7.34 | 5.30 | 2.07 |
| Total Borrowings | 17.16 | 17.37 | 25.43 | 25.41 |
Valuation
Key Performance Indicators (KPI)
| KPI | Dec 2025 | FY2025 |
| ROE | 22.50% | 35.42% |
| ROCE | 16.78% | 23.03% |
| Debt/Equity | 0.63 | 0.80 |
| RoNW | 25.26% | 30.88% |
| PAT Margin | 13.79% | 13.74% |
| EBITDA Margin | 19.51% | 18.96% |
| Price to Book Value | 3.48 | 4.36 |
EPS & Valuation
| Particulars | Pre IPO | Post IPO |
| EPS (Rs.) | 4.67 | 3.74 |
| P/E (x) | 14.12x | 17.63x |
Shareholding Pattern
| Particulars | Pre Issue | Post Issue |
| Promoter Holding | 100.00% | 73.20% |
Chanakya View
Investment Summary
| Parameter | Observation |
| Business Segment | Paper Products & Packaging Materials |
| Industry Outlook | Moderate |
| Revenue Growth | Muted |
| Profit Growth | Improved |
| Margin Profile | Healthy but Needs Monitoring |
| Debt Level | Moderate |
| Valuation | Fully Priced |
| SME Liquidity Risk | Present |
Positives
| Strengths |
| Presence in paper-based products and packaging segment |
| Healthy PAT and EBITDA margins |
| Debt/equity ratio improved to 0.63 |
| Integrated manufacturing setup |
| Funds proposed for debt repayment and new machinery |
| Strategic location may support logistics efficiency |
Concerns
| Risks |
| Revenue growth has remained almost flat in recent years |
| Business operates in a competitive and fragmented segment |
| Margin sustainability needs close monitoring |
| Small employee base and SME scale risk |
| Fully priced valuation at post-issue P/E of 17.63x |
| SME liquidity risk after listing |
| Dependence on customer demand from retailers and smaller manufacturers |
Utkal Speciality Industries operates in the paper-based products and packaging materials segment, which has long-term relevance due to increasing demand for sustainable alternatives. However, the company’s revenue growth has not been very strong in recent years.
Total income stood at Rs. 50.28 crore in FY2025 compared with Rs. 44.15 crore in FY2024 and Rs. 46.23 crore in FY2023. Profitability improved from Rs. 3.24 crore in FY2024 to Rs. 6.68 crore in FY2025, but investors should assess whether this margin expansion is sustainable in a highly competitive segment.
At the upper price band of Rs. 66, the post-issue P/E works out to 17.63x. Considering the moderate growth profile and competitive industry structure, the valuation appears fully priced.
The company plans to use IPO proceeds for working capital, repayment of borrowings and purchase of machinery for its new manufacturing facility at Khurda, Odisha. This may support future operations, but execution and demand growth will remain important factors.
Considering moderate revenue growth, improved but monitorable margins, fully priced valuation and SME liquidity risk, only high-risk investors may consider the IPO selectively. Conservative investors may wait for listing performance and post-listing financial delivery.
FAQs
What is Utkal Speciality IPO GMP today?
Utkal Speciality IPO GMP is currently updating. Investors should monitor grey market movement closer to listing for sentiment assessment.
What is the Utkal Speciality IPO price band?
Utkal Speciality IPO price band is fixed at Rs. 62 to Rs. 66 per share.
What is the Utkal Speciality IPO lot size?
Retail investors need to apply for minimum 4,000 shares amounting to Rs. 2,64,000.
When will Utkal Speciality IPO list?
Utkal Speciality IPO is expected to list on NSE SME on 17 June 2026.