Shree Balaji (Mala) Textiles' BSE SME initial public offering (IPO) opens for subscription today, July 22, 2026, and will remain open until July 24, 2026. Ahead of the issue, the IPO has garnered attention in the grey market, where it is currently trading at a premium of around 21.43% over its upper price band of Rs 70.
The IPO is entirely a fresh issue of 27 lakh equity shares, aiming to raise Rs 18.90 crore. The company has fixed the price band at Rs 66-70 per share.
The Shree Balaji Mala IPO will remain open for subscription from July 22 to July 24, 2026. The company aims to raise Rs 18.90 crore through a fresh issue of 27 lakh equity shares, with a price band of Rs 66-70 per share.
Investors can apply in lots of 2,000 shares, while the minimum investment for retail investors is Rs 2.80 lakh, requiring a minimum application of 4,000 shares at the upper end of the price band.
The basis of allotment is expected to be finalised on July 27, 2026, and the shares are likely to be listed on the BSE SME platform on July 29, 2026.
GYR Capital Advisors Pvt. Ltd. is the book-running lead manager to the issue, while Kfin Technologies Ltd. is the registrar. Mansi Share & Stock Broking Pvt. Ltd. has been appointed as the market maker.
Ahead of the public issue, Shree Balaji Mala raised Rs 5.35 crore from anchor investors. The anchor book opened on July 21, 2026, providing an early boost to the IPO.
Shree Balaji Mala IPO: GMP today
According to market sources, the latest Grey Market Premium (GMP) stands at Rs 15 per share, translating into a premium of 21.43% over the upper price band of Rs 70. Based on the current GMP, the estimated listing price is around Rs 85 per share.
However, investors should note that the GMP is an unofficial indicator based on unregulated market activity and should not be considered a guaranteed measure of listing performance.
The company intends to utilise the net proceeds from the IPO primarily to strengthen its working capital position. Of the total funds raised, Rs 16.50 crore will be allocated towards meeting its working capital requirements, while the remaining amount will be used for general corporate purposes.
About Shree Balaji (Mala) Textiles
Incorporated in 2005, Shree Balaji (Mala) Textiles Ltd. is engaged in the manufacturing and wholesale distribution of cotton sarees in India's B2B textile market. Headquartered in West Bengal, the company sells its products under the "Mala Saree" brand, catering to customers across multiple price segments.
The company operates through an extensive pan-India distribution network comprising more than 105 brokers, 13 dealers, 69 wholesalers and around 3,000 retailers as of March 31, 2026. Its presence spans Central, East, North, Northeast, South and West India, enabling broad market reach.
Shree Balaji (Mala) Textiles offers a diversified portfolio of sarees, including cotton sarees, embroidered sarees and fancy sarees, catering to a wide range of customer preferences. Its product portfolio is designed to serve both everyday and occasion wear segments, with offerings across multiple price points.Its products cater to both everyday and occasional wear, with an average selling price of approximately Rs 270, serving consumers across low, mid and premium price categories.
The company's manufacturing facility is located in Jetpur, Gujarat, where it produces a wide range of cotton sarees featuring diverse designs, weaving patterns and fabric variations. The focus on affordability, quality and design innovation has helped it establish a presence in the organised saree market.
As of July 15, 2026, the company employed 47 permanent employees, along with an average of five daily wage workers.
Shree Balaji (Mala) Textiles total income rose to Rs 212.40 crore in FY26 from Rs 193.44 crore in FY25, reflecting a 9.8% year-on-year increase driven by stronger business volumes.
The company's Profit After Tax (PAT) increased to Rs 5.85 crore in FY26 from Rs 4.95 crore in the previous year, marking an 18.2% growth. The improvement underscores the company's ability to convert higher revenues into stronger earnings through operational efficiencies and disciplined cost management.
