Shree Balaji (Mala) Textiles is set to make its stock market debut on the BSE SME platform today, with grey market trends pointing to a potentially stellar listing. The company's shares are currently commanding a Grey Market Premium (GMP) of around 80%, indicating strong investor enthusiasm ahead of the listing.
The SME IPO, which was open for subscription from July 22 to July 24, received an overwhelming response, with the issue being subscribed 186.34 times overall. The retail investor segment led the demand with 228.24 times subscription, followed by 185.23 times in the non-institutional investor (NII) category and 113.55 times in the qualified institutional buyer (QIB) portion.
The public issue was entirely a fresh issue of 27 lakh equity shares, raising Rs 18.90 crore. The company had fixed the IPO price band at Rs 66-70 per share.
Ahead of the issue, the company mobilised Rs 5.35 crore from anchor investors on July 21, providing an early vote of confidence before the public subscription opened.
Shree Balaji (Mala) Textiles IPO GMP today
According to market sources, the latest Grey Market Premium (GMP) stands at Rs 56 per share, implying an 80% premium over the IPO's upper price band of Rs 70. Based on the prevailing GMP, the estimated listing price is around Rs 126 per share.
However, investors should note that the grey market is unofficial and unregulated. GMP merely reflects market sentiment and should not be viewed as a guarantee of actual listing gains.
IPO proceeds to strengthen working capital
The company plans to utilise the IPO proceeds primarily to support its working capital needs. Of the total funds raised, Rs 16.50 crore has been earmarked for working capital requirements, while the remaining amount will be used for general corporate purposes.
About Shree Balaji (Mala) Textiles
Founded in 2005, Shree Balaji (Mala) Textiles is engaged in the manufacturing and wholesale distribution of cotton sarees in India's B2B textile market. Headquartered in West Bengal, the company markets its products under the "Mala Saree" brand, catering to customers across multiple price segments.
The company has built a pan-India distribution network comprising over 105 brokers, 13 dealers, 69 wholesalers and nearly 3,000 retailers as of March 31, 2026. Its reach extends across Central, East, North, Northeast, South and West India.
Its portfolio includes cotton, embroidered and fancy sarees, serving both everyday and occasion wear segments across low, mid and premium price categories. The company has an average selling price of around Rs 270 per saree.
Manufacturing operations are based in Jetpur, Gujarat, where the company produces a wide range of cotton sarees featuring diverse designs, weaving styles and fabric variations. The focus on affordability, quality and product innovation has helped strengthen its presence in the organised saree market.
Shree Balaji (Mala) Textiles reported a healthy financial performance in FY26, with total income rising 9.8% year-on-year to Rs 212.40 crore, compared with Rs 193.44 crore in FY25, driven by higher business volumes.
Profit after tax (PAT) grew at an even faster pace, increasing 18.2% to Rs 5.85 crore from Rs 4.95 crore a year earlier. The improvement reflects stronger operating leverage, disciplined cost management and the company's ability to translate revenue growth into improved profitability.
