Shlokka Dyes IPO Price Band Revised to ₹90–₹95; Subscription Remains Modest at 0.27×

Ahmedabad, October 8, 2025 – The price band of Shlokka Dyes Ltd’s IPO initial public offering (IPO) has been lowered to ₹90-₹95 per share from the initial ₹95–₹100, as the firm tries to induce more investor interest in the wake of a slow subscription trend. The ₹60-crore issue, which was supposed to close on October 6, was extended till October 9, 2025, due to the lackadaisical response.

Founded in 2021 and listed as a public company in 2024, Shlokka Dyes Ltd produces reactive and synthetic dyes utilised across textiles, leather, paper, and paints. The company has a 9,000 MT per year ISO-certified plant in Gujarat with in-house quality testing laboratories.

Headed by Vaibhav Shah and Shivani Rajpurohit, Shlokka Dyes provides a range of customised dyes for both local and overseas markets. The firm’s focus on customised formulations and rigorous quality control has established it as a reliable source in the aggressive synthetic dyes space.

Shlokka Dyes IPO Subscription Snapshot

As of 12:34 p.m. IST on October 8, data from the BSE indicated the IPO had been subscribed 0.27 times, with total bids for 17.29 lakh shares against 63.50 lakh shares on offer. Institutional participation remains minimal, coming exclusively from a single foreign institutional investor (FII), while retail and high-net-worth individual (HNI) interest remains subdued despite the reduced price band.

Investor offers are at the lower end of the new price band, showing valuation comfort preference. For example, units of ₹90 received bids for 17.24 lakh units, followed closely by ₹93 at 17.10 lakh units, and ₹94 at 17.07 lakh units, which points towards investors being conservative and cautious in their strategy.

Shlokka Dyes IPO Details

Shlokka Dyes’ IPO has a lot size of 1,200 shares (₹1.14 lakh per lot) and is available between September 30 to October 9, 2025. Allotment is on October 10, while refunds will be started on October 13 and the shares credited to demat accounts on the same date. The company will be listed on the NSE SME platform on October 14, 2025. The lead manager is Interactive Financial Services Ltd, with Bigshare Services Pvt Ltd as the registrar.

Even as the price band is revised, investor reaction remains lacklustre, an indication of conservative sentiment towards SME IPOs in general, while the overall market remains volatile.

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