Minerva Capital Research Solutions

Roopa Screen

ListedListed 1 Oct 2026BSE SMENSE: ROOPACheck allotment
Current price₹ 98.99+54.67% since issue
Listing day+90%
Issue price
₹ 64
Issue size
₹ 19.2 Cr.
Min. investment
₹ 1,28,000
Listing price
₹ 121.6
Subscribed
252.98x
Lot size
2,000 shares
P/E
10.92
RoNW
39.60%
RoCE
39.33%
Debt / Equity
0.45
PAT margin
12.78%
EBITDA margin
19.72%
RoE
49.37%
EPS
₹ 5.86
NAV
₹ 20.30
Promoter stake
63.71%

About

Roopa Screen Ltd was started in 2013. It manufactures rotary nickel screens, which are used in rotary screen-printing machines by textile makers to print continuous lengths of fabric. A rotary nickel screen is a cylindrical perforated metal sleeve that works as a stencil. Printing paste is pushed through the holes onto the fabric passing underneath, and the pattern of holes decides the design. Because the screen rotates continuously, the fabric can be printed without stopping, which is what makes high volume textile printing possible. Its screens are sold under four product lines, Delta, Penta, Standard and Nova. Alongside manufacturing it also trades nickel cathodes, which are the raw material from which the screens are made. It does this to keep that critical material available and to buy it more efficiently. In FY2026 it supplied rotary nickel screens to more than 200 customers across India, with most of its revenue coming from Gujarat, Maharashtra, Haryana, Punjab and Tamil Nadu. It sells only business to business, to textile printing units, through its own in-house sales team.

Timeline

  1. Opens
    24 Sep
    done
  2. Closes
    28 Sep
    done
  3. Allotment
    29 Sep
    done
  4. Refunds
    30 Sep
    done
  5. Demat credit
    30 Sep
    done
  6. Listing
    1 Oct
    done

Grey market premium (GMP)

GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Highest
₹ 42 on 30 Sep 2026
Lowest
₹ 0 on 21 Sep 2026
First quoted
₹ 0 on 21 Sep 2026

Subscription

How many times each investor group bid for its share, as of 01 Oct 2026, 06:30 PM IST.

How much to apply for

The smallest and largest bids for each kind of investor at the upper price band.

Lots and amounts by investor type
Retail (Min)12,000₹ 1,28,000
Retail (Max)12,000₹ 1,28,000
HNI (Min)24,000₹ 2,56,000

Company overview

Financials

Financials by year
Assets3022.4719.66
Total Income51.3245.6335.85
Profit After Tax6.484.691.5
EBITDA108.134.24
NET Worth16.379.895.21
Reserves and Surplus8.318.744.05
Total Borrowing—7.038.98

Strengths

  • Profit has more than quadrupled in two years, from Rs 1.50 crore in FY2024 to Rs 4.69 crore in FY2025 and Rs 6.48 crore in FY2026.
  • Sales have grown from Rs 35.85 crore in FY2024 to Rs 51.32 crore in FY2026.
  • EBITDA has more than doubled over the same period, from Rs 4.24 crore to Rs 10.00 crore.
  • The margin is good for a component maker, with a PAT margin of 12.78% and an EBITDA margin of 19.72%.
  • Return ratios are strong, with RoCE of 39.33% and RoNW of 39.60%.
  • This is among the cheapest issues in the batch on earnings, at about 10.92 times on an EPS of Rs 5.86.
  • It has cleared most of its debt, with borrowing down from Rs 8.98 crore in FY2024 against a net worth of Rs 16.37 crore.
  • It supplied more than 200 customers in FY2026, so the business is not concentrated on a handful of buyers.

Risks

  • The entire business depends on textile printing. If printers move to digital printing, which does not use rotary screens, the demand for this product would fall away with no other market to serve.
  • A part of the revenue comes from trading nickel cathodes rather than manufacturing, which earns a lower margin.
  • Nickel prices move sharply on global markets and affect both the trading business and the cost of making screens.
  • Revenue is concentrated in a few states, chiefly Gujarat, Maharashtra, Haryana, Punjab and Tamil Nadu.
  • The company is small, with a net worth of Rs 16.37 crore and an issue of Rs 19.2 crore.
  • Rs 9.90 crore of the issue goes into setting up a new manufacturing facility, which carries execution risk and will take time to earn.
  • Promoter holding will come down from 87.4% to 63.71% after the issue.
  • This is an SME issue. One lot is 2,000 shares, which is Rs 1.28 lakh at the upper band of Rs 64, and SME shares usually trade in low volume after listing.

What the money is for

Objects of the issue
Funding of capital expenditure towards setup of a new manufacturing facility9.9
Funding of Working Capital Requirements6
General Corporate Purposes—

Promoters

  • Ghanshyambhai Ranchhodbhai Thakkar
  • Kunal Ghanshyambhai Thakker
  • Bhartiben Ghanshyambhai Thakkar
  • Preksha Kunal Thakkar
Promoter holding87.4%→63.71%before → after the issue · down 23.69 points

Registrar, lead managers and documents

Listing on
BSE SME
Face value
₹ 10 a share
Registrar
Bigshare Services Private Limited
Lead managers
Seren Capital Pvt. Ltd.
Basis of allotment
Open

IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.