Overview
Shree TNB Polymers Limited, a manufacturer of polymer‑based piping systems and industrial plastic products based in Silvassa, Dadra & Nagar Haveli, announced that it obtained in‑principle approval from BSE Limited for its proposed initial public offering on the BSE SME platform. The approval was received on 24 June 2026 and enables the company to move to the next steps of the IPO process, subject to filing of the Red Herring Prospectus, statutory and regulatory clearances and prevailing market conditions.
IPO Details
The company plans a fresh issue of up to 60,00,000 equity shares, each with a face value of ₹10, to be allotted through a book‑building process. The net proceeds are intended to be used for (i) purchase of plant and machinery, (ii) installation of a solar rooftop power generation system, (iii) construction of a pre‑engineered building for manufacturing operations, and (iv) repayment or pre‑payment of certain borrowings.
Business Profile
Shree TNB Polymers markets its products under three registered brands: Noble (HDPE, PP, PPH, DWC pipes and fittings, drip irrigation and sprinkler systems), Tirupati (solid polymer sheets) and Wellpack (corrugated flute boards). Its customer base spans water‑infrastructure, irrigation, agriculture, industrial, chemical, telecommunication and construction sectors.
Management Comment
Chairman Vijay Thosani said that securing the BSE SME in‑principle approval reflects the strength of the business model and the confidence built with customers, and that the IPO will support the company’s vision of expanding manufacturing capacity, investing in modern infrastructure and creating long‑term value for customers, employees, partners and future shareholders.
Market Context
The announcement notes that increasing investments in water infrastructure, irrigation, urban development and industrial projects across India are driving demand for high‑quality polymer‑based piping solutions, positioning the company to benefit from these trends.
Next Steps
The issue opening and closing dates, price band and other specifics will be announced in due course in accordance with applicable laws after the Red Herring Prospectus is filed and all required approvals are obtained.