Tenty IPO
Tenty Limited has filed a draft red herring prospectus (DRHP) with SEBI for a mainboard IPO, a fresh issue and offer for sale. As of SEBI's report dated 30 October 2026, SEBI has asked the lead manager for clarifications. The draft proposes a fresh issue of up to 73,36,641 shares and an offer for sale of up to 12,50,000 shares by promoters Ranks Fiscals and Kanishk Goyal. In FY26 the company made a profit of ₹22.65 crore on revenue of ₹822.25 crore. The price band, lot size and IPO dates are not announced yet.
- Status
- SEBI has asked questionsSEBI report, 30 Oct 2026
- SEBI received draft
- 1 Oct 2026
- Type of issue
- Fresh issue and offer for sale
- Lead manager
- Gretex Corporate Services Limited
- Last SEBI contact
- 16 Oct 2026
- Price band and dates
- Not announced
Where it stands
Tenty IPO: where it stands
SEBI processing status, 30 Oct 2026- Draft filed with SEBI1 Oct 2026
- SEBI reviewSEBI has asked questions
- SEBI observations
- RHP and price bandNot yet
- Bidding and listingNot yet
SEBI has sought clarifications and is waiting for the lead manager to reply.
SEBI received the draft on 1 October 2026, 36 days ago, and its last communication on the draft was on 16 October 2026 (day count is our calculation).
DRHP at a glance
Tenty DRHP at a glance
Draft red herring prospectus, 29 Sep 2026What the company's draft offer document says. Figures can change in the red herring prospectus, and nothing here is a review or a recommendation.
The business
DRHP, Our Business (p. 204) and Risk Factors (p. 19 to 25)Tenty makes rigid plastic packaging (RPP) products and writing instruments, and through its subsidiary Polar Elektric sells electric fans and household appliances, which gave 63.04% of FY26 revenue. Linc is one of its top customers.
It is one of the leading makers of RPP products and writing instruments in eastern India. It was incorporated on 5 November 1997.
The offer
DRHP cover page and The Offer (p. 72)| Fresh issue | Up to 73,36,641 shares₹ amount set with the price; money goes to the company |
| Offer for sale | Up to 12,50,000 sharesRanks Fiscals Private Limited 10,00,000 (average cost ₹160.54) and Kanishk Goyal 2,50,000 (₹125.56) |
| Shares before the IPO | 1,90,83,755The fresh issue equals about 38.4% and the offer for sale about 6.6% of them (ours) |
| Pre-IPO placement | Up to ₹50 croreOptional; would reduce the fresh issue |
| Listing | BSE and NSEMainboard, under Regulation 6(1) |
| Lead manager | Gretex Corporate Services Limited |
| Registrar | MUFG Intime India Private Limited |
| Promoters | Ashok Goyal, Nishi Goyal, Kanishk Goyal, Neelam Goyal, Giriraj Ratan Kothari, Asish Kothari and others named in the DRHP, including Ranks Fiscals Private Limited |
What the company plans to do with the money
DRHP, Objects of the Offer (p. 131 to 133)| Object | ₹ crore |
|---|---|
| Repaying or prepaying certain borrowings | 36.37 |
| Investing in subsidiary Polar Elektric (three separate objects) | 183.99 |
| General corporate purposes (set later, up to 25% of the gross proceeds) |
Amounts are what the net proceeds will fund. The three Polar Elektric objects are ₹22.58 crore, ₹136.00 crore and ₹25.41 crore (our sum ₹183.99 crore). The fresh issue size in ₹ is set with the price, so each object's share is not shown yet.
Financials
DRHP, Summary of Financial Information (p. 74 to 80) and Basis for Offer Price, KPIs (p. 150 to 154), ₹ crore| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 362.24 | 415.47 | 822.25 |
| EBITDA | 31.61 | 31.59 | 79.44 |
| EBITDA margin | 8.73% | 7.60% | 9.66% |
| Profit after tax | 8.75 | 6.80 | 22.65 |
| Diluted EPS (₹) | 9.97 | 5.60 | 18.14 |
| Total equity | 96.22 | 319.12 | 347.55 |
| Cash from operations | 48.23 | 73.03 | -24.08 |
| Debt to equity | 0.31 | 0.55 | 0.75 |
Restated consolidated figures. Revenue roughly doubled in FY26 as the fans and appliances business grew. Revenue grew about 50.7% a year from FY24 to FY26 (our calculation).
Risks the draft lists first
DRHP, Risk Factors (p. 19 to 25)- Pledged sharesIt has pledged 26% of the shares of its material subsidiary Polar Elektric. (Risk factor 1, p. 19)
- LincIt depends heavily on Linc, one of its top customers in each of the last three years. (Risk factor 2, p. 20)
- SuppliersIt depends on outside suppliers for raw materials and traded goods. (Risk factor 3, p. 21)
- Key customersThe top 10 customers gave 46.87% of FY26 revenue and 80.61% in FY25. (Risk factor 4, p. 22)
- Fans and appliancesElectric fans and household appliances gave 63.04% of FY26 revenue. (Risk factor 5, p. 24)
- Past compliance gapsThere have been gaps in its past secretarial records and statutory filings. (Risk factor 6, p. 25)
Documents
Tenty DRHP and documents
SEBI filingsThe DRHP has the issue size, use of the money, financials, promoters and risk factors. It can change before the final red herring prospectus.
Questions
Tenty IPO FAQs
When will the Tenty IPO open?
The date is not announced. The company first needs SEBI's observations on its draft, then files a red herring prospectus with the dates. SEBI received the draft 36 days ago (our calculation).
Has SEBI approved the Tenty IPO?
SEBI has sought clarifications and is waiting for the lead manager to reply. Source: SEBI processing status as on 30 October 2026.
What is the Tenty IPO price band and lot size?
Not announced. The price band is published at least two working days before the IPO opens, and the lot size is set with it. We add both here the day they are filed.
What is the Tenty IPO GMP?
We do not publish a GMP. Grey market premium is unofficial: it is not regulated by SEBI and not published by any exchange. Before the price band is announced there is no issue price to compare it with.
Who is the lead manager of the Tenty IPO?
Gretex Corporate Services Limited is the coordinating book running lead manager named in SEBI's processing status report. The DRHP lists all the lead managers and the registrar.
What will Tenty do with the IPO money?
According to the DRHP, the fresh issue money goes to repaying or prepaying certain borrowings (₹36.37 crore), investing in subsidiary Polar Elektric (three separate objects) (₹183.99 crore), and the rest to general corporate purposes. The offer for sale money goes to the selling shareholders, not the company.
What does Tenty do?
Tenty makes rigid plastic packaging (RPP) products and writing instruments, and through its subsidiary Polar Elektric sells electric fans and household appliances, which gave 63.04% of FY26 revenue. Linc is one of its top customers.
Where can I read the Tenty DRHP?
On SEBI's website, where the draft red herring prospectus was published on 5 October 2026. The draft is dated 29 September 2026 and runs to 496 pages. It has the issue size, use of the money, financials and risk factors.
Sources: SEBI processing status of draft offer documents as on 30 October 2026, SEBI's yearly processing status archive and SEBI's list of draft offer documents, and the company's DRHP dated 29 September 2026. Day counts and the last date to open are our calculations. This page is information only, not a recommendation.