Utkal Speciality SME IPO
ListedNSE SMEOpens 10 June 2026Closes 12 June 2026
Utkal Speciality Industries India Limited, incorporated in 2015, is an established enterprise engaged in manufacturing a comprehensive range of paper-based disposal products and packaging materials. The company's…
Utkal Speciality Industries India Limited, incorporated in 2015, is an established enterprise engaged in manufacturing a comprehensive range of paper-based disposal products and packaging materials. The company's diversified product portfolio features eco-friendly daily alternatives such as premium coated paper reels, paper cup fans, plain and printed paper plates, glasses, bowls, tissues, and specialty packaging solutions (including custom pizza, burger, and sandwich boxes). Operating from its 84,000 sq. ft. fully integrated end-to-end processing facility in Khurda, Odisha, the company serves small-scale manufacturers alongside national retail chains.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
10 Jun 2026
IPO Closes
12 Jun 2026
Allotment
15 Jun 2026
Listing
17 Jun 2026
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 10 June 2026 |
| IPO Close Date | 12 June 2026 |
| Allotment Date | 15 June 2026 |
| Listing Date | 17 June 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,64,000 |
SHNI (Min) | 3 | ₹3,96,000 |
SHNI (Max) | 7 | ₹9,24,000 |
BHNIAbove ₹10,00,000 | 8 | ₹10,56,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 1.01% |
| NII (Non-Institutional Investor) | 39.60% |
| SHNI (Small Non-Institutional Investor) | 12.50% |
| BHNI (Big Non-Institutional Investor) | 25.11% |
| Retail | 59.40% |
| Market Maker | 5.04% |
| Total | 100.00% |
IPO Objectives
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company (₹11.00 Cr).
- Funding Capital Expenditure requirements towards the purchase of plant and machinery for the new manufacturing facility at Khurda, Odisha (₹9.60 Cr).
- Funding ongoing incremental working capital requirements of the Company (₹5.31 Cr).
- Meeting public offer related expenses and general corporate purposes.
Strengths
- The company leverages a Strategic Sourcing & Logistics Moat, with its manufacturing complex situated right on the high-volume Kolkata–Chennai highway infrastructure corridor, optimizing transit times and reducing southern raw-material freight costs.
- It benefits from End-to-End Production Sizing, operating an 84,000 sq. ft. fully integrated in-house facility managing coating, slitting, printing, and die punching under one unified roof to maximize operational flexibility.
- The business offers Deep SKU Diversity, providing an expansive range of custom industrial alternative profiles designed to match fast-shifting corporate and retail eco-friendly container mandates.
- It maintains Healthy Balance Sheet Parameters, with pre-issue leverage limits tracking comfortably at a debt-to-equity layer of 0.63 as of late 2025, alongside clear asset deployment targets.
- The firm commands Sound Operating Margins, sustaining a stable and healthy net profit margin structure tracking at 13.79% for the 9-month window ending December 2025.
Weaknesses
- The firm experiences Topline Growth Fluctuations, as total annualized revenues show operational friction and flat patterns over recent cycles, dipping from ₹46.23 Cr in FY23 to ₹50.28 Cr in FY25.
- The issue faces Subdued Local Market Sentiment, with unofficial grey market interest signaling a quiet early rollout phase and tracking premiums sitting flat at ₹0.
- There is a Thin Institutional Protection Layer, where structural public allotment keeps the designated QIB block capped at a negligible 1.01%, shifting post-listing price stabilization entirely onto non-institutional buyers.
- The company deals with Intense Fragmented Competition, operating inside a deeply competitive, low-barrier, and highly localized industrial packaging niche vulnerable to aggressive price discounting.
Financial Performance
| Period Ended | 31 Dec 2025 (9M) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 48.63 | 44.04 | 37.6 | 35.27 |
| Revenue (₹ Cr.) | 40.9 | 50.28 | 44.15 | 46.23 |
| PAT (₹ Cr.) | 5.48 | 6.68 | 3.24 | 2.21 |
| Net Worth (₹ Cr.) | 27.12 | 21.64 | 9.95 | 6.07 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Utkal Speciality Industries | 3.48 | 17.63 | 22.5% | 27.12 |
| Aaradhya Disposal Industries | 1.52 | 19.56 | 7.78% | 29.55 |
| Spinaroo Commercial Ltd | 2.49 | 77.91 | 3.19% | 7.14 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0x | 1.12x | 1.12x |
| NII | 0.43x | 0.47x | 0.89x |
| S-HNI | 0.11x | 0.38x | 0.9x |
| B-HNI | 0.57x | 0.51x | 0.89x |
| RII | 0.29x | 1.1x | 2.1x |
| Total | 0.34x | 0.84x | 1.6x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 50,000 | 56,000 | 0.37 |
| NII | 20,68,000 | 18,48,000 | 12.2 |
| Small NII | 6,54,000 | 5,86,000 | 3.87 |
| Big NII | 14,14,000 | 12,62,000 | 8.33 |
| RII | 29,52,000 | 62,08,000 | 40.97 |
| Total | 50,70,000 | 81,12,000 | 53.54 |
Company Details
- Utkal Speciality Industries India Ltd.
- IDCO Plot No. I/5/B, Food Processing Park, Khurda, Odisha, 752057
- +91 90401-34060
- compliance@utkalspeciality.com
- http://www.utkalspeciality.com/
Registrar Details
- Cameo Corporate Services Ltd.
- +91-44-28460390
- investor@cameoindia.com
- https://ipostatus2.cameoindia.com/
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Sources
We match Utkal Speciality SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- Cameo Corporate Services Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.