Approval marks a significant milestone
in the Company's journey towards its proposed public issue, supporting its next
phase of growth and expansion
Silvassa, Dadra & Nagar Haveli, July
23rd, 2026: Shree TNB Polymers Limited, a
manufacturer of polymer-based piping systems and industrial plastic products,
has secured the in-principle approval from BSE Limited for its proposed Initial
Public Offering (IPO) on the BSE SME Platform. The approval, received on June
24, 2026, marks a key milestone in the Company's journey towards becoming a
publicly listed company and enables it to proceed with the subsequent steps in
the IPO process, subject to applicable regulatory requirements, prevailing
market conditions and other customary approvals.
The Company had earlier filed its Draft Red
Herring Prospectus (DRHP) with the BSE SME Platform in connection with the
proposed public issue. The proposed IPO comprises a fresh issue of up to
60,00,000 equity shares of face value ₹10 each through the book-building
process.
As disclosed in the DRHP, the net proceeds
from the proposed issue are proposed to be utilized towards the purchase of
plant and machinery, installation of a solar rooftop power generation system,
construction of a pre-engineered building for manufacturing operations,
repayment or prepayment of certain borrowings.
Shree TNB Polymers Limited has established
itself as a trusted manufacturer of polymer-based piping systems and industrial
plastic products catering to a diverse range of industries. Its product
portfolio includes HDPE and PP pipes, PPH pipes and fittings, DWC pipes and
fittings, drip irrigation systems and sprinkler systems, all marketed under the
registered Noble brand. The Company also manufactures solid polymer sheets
under the registered Tirupati brand and corrugated flute boards under the
registered Wellpack brand. Its products serve customers across water
infrastructure, irrigation, agriculture, industrial, chemical,
telecommunication and construction sectors.
Commenting on the development, Mr. Vijay
Thosani, Chairman of Shree TNB Polymers Limited, said, "Securing the BSE
SME in-principle approval is a significant milestone in the evolution of Shree
TNB Polymers Limited. It reflects the strength of our business model, our
commitment to manufacturing excellence and the confidence we have built with
our customers over the years. The proposed IPO will support our vision of
expanding our manufacturing capabilities, investing in modern infrastructure
and strengthening our market presence while maintaining our focus on quality,
innovation and sustainability. We believe this will further enhance our ability
to create long-term value for our customers, employees, business partners and
future shareholders."
Driven by increasing investments in water
infrastructure, irrigation, urban development and industrial projects across
India, the demand for high-quality polymer-based piping solutions continues to
grow. Shree TNB Polymers Limited is well positioned to capitalize on these
opportunities through its diversified product portfolio, manufacturing
expertise and customer-centric approach.
The proposed IPO remains subject to the
filing of the Red Herring Prospectus, receipt of applicable statutory and
regulatory approvals and prevailing market conditions. The issue opening and
closing dates, price band and other details of the proposed public issue will
be announced in due course in accordance with applicable laws.
About Shree TNB Polymers Limited
Shree TNB Polymers Limited is engaged in
the manufacturing of polymer-based piping systems and industrial plastic
products. The Company's product portfolio includes HDPE pipes, PPH pipes, DWC
pipes, drip irrigation systems and sprinkler systems marketed under the
registered Noble brand, solid polymer sheets under the registered Tirupati
brand and corrugated flute boards under the registered Wellpack brand. Shree
TNB Polymers serves customers across the infrastructure, irrigation,
agriculture, industrial, chemical, telecommunication and construction sectors
through its manufacturing facilities in Silvassa, Dadra and Nagar Haveli.
For Further Information
Shree TNB Polymers Limited