Shree Balaji (Mala) Textiles

ListedListed 29 Jul 2026BSE SMENSE: MALACheck allotment
Current price₹ 48.6−30.57% since issue
Listing day+90%
Issue price
₹ 70
Issue size
₹ 18.9 Cr.
Min. investment
₹ 1,40,000
Listing price
₹ 133
Subscribed
186.34x
Lot size
2,000 shares
P/E
11.84
EPS
₹ 5.91
Promoter stake
72.74%

About

Incorporated in 2005, Shree Balaji (Mala) Textiles Limited is engaged in the manufacturing and wholesale distribution of high-quality cotton sarees in India’s B2B cotton saree segment, based in West Bengal. The company markets its products under its own brand name “Mala Saree”, offering a wide range of designs and styles catering to diverse consumer preferences across India. The company operates on a Business-to-Business (B2B) model, distributing products through an extensive network comprising over 105 brokers, 13 dealers, 69 wholesalers, and approximately 3,000 retailers as of March 31, 2026. Its distribution network spans Central, East, North, Northeast, South, and West India, enabling broad market coverage and efficient product reach. Product Portfolio: Sarees: Cotton Saree, Embroidery, Fancy Saree, the company offers diverse range of products to various segments of the market that include sarees of different fabrics differentiated by weaving, patterns and ornamentation. The manufactured products range from normal to occasional wear with an average price of around ₹270 considering the low, medium and high range. The company’s manufacturing facility is located in Jetpur, Gujarat, spread over approximately 9–14 gunthas, and is equipped to produce a wide variety of cotton sarees with multiple design options and fabric variations. Its emphasis on quality, design innovation, and affordability has positioned it as a key player in the organized saree segment. As of July 15, 2026, the company have 47 employees and average 5 persons working as daily labour.

Timeline

  1. Opens
    22 Jul
    done
  2. Closes
    24 Jul
    done
  3. Allotment
    27 Jul
    done
  4. Listing
    29 Jul
    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
₹ 56 on 29 Jul 2026
Lowest
₹ 11 on 19 Jul 2026
First quoted
₹ 19 on 16 Jul 2026

Subscription

How many times each investor group bid for its share, as of 24 Jul 2026, 05:10 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₹ 1,40,000
Retail (Max)12,000₹ 1,40,000
HNI (Min)24,000₹ 2,80,000

Company overview

Financials

Financials by year
Assets148.64138.88127.51
Total Income212.4193.44195.89
Profit After Tax5.854.952.46
EBITDA15.513.210.23
NET Worth27.5121.6516.7
Reserves and Surplus20.320.9315.98
Total Borrowing69.0848.7551.37

Strengths

  • Diversified supplier and customer base
  • Vast and versatile product portfolio for women
  • Ability to buy in bulk quantities
  • Experienced Promoters and management team
  • Long Standing Relationship with job workers

Risks

  • Around 95% of products are outsourced through job-work, creating heavy dependence on job workers.
  • Operates in a highly competitive and fragmented cotton-saree segment with thin margins.
  • High working-capital intensity; borrowings rose to ₹69 cr in FY26.
  • B2B model dependent on a distribution network of brokers, dealers and wholesalers.
  • Reviewer notes the issue appears aggressively priced; SME listings carry lower liquidity and higher volatility.

What the money is for

Objects of the issue
Funding working capital requirements of the Company16.5
General Corporate Purposes—

Promoters

  • Binod Kumar Kedia
  • Anita Kedia
  • Mrityunjay Commosales Pvt.Ltd
Promoter holding100%→72.74%before → after the issue · down 27.26 points

Registrar, lead managers and documents

Listing on
BSE SME
Face value
₹ 10 a share
Lead managers
GYR Capital Advisors Pvt.Ltd.

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.