SJP Ultrasonics IPO
SJP Ultrasonics IPO is a SME issue of ₹23.45 Cr (Fresh capital only). The price band is ₹67 per share with a lot of 2,000 shares (₹1,34,000 minimum). Bidding runs 30 Sep – 5 Oct, allotment is on 6 Oct 2026 and listing on 8 Oct 2026 on BSE SME. The issue has been subscribed 1.78x overall. It listed at ₹74.20 (+10.75% over the issue price) and trades at ₹83.13 (+24.07%).
IPO details
| Detail | Value |
|---|---|
| Price band | ₹67 |
| Lot size | 2,000 shares |
| Minimum investment | ₹1,34,000 |
| Issue size | ₹23.45 Cr |
| Issue type | Fresh capital only |
| Face value | ₹10 per share |
| Listing on | BSE SME |
| Issue price | ₹67 |
Subscription status
| Category | Subscribed |
|---|---|
| Qualified institutions (QIB) | 0.00x |
| Non-institutional (NII) | 1.77x |
| Retail | 1.00x |
| Employees | 0.00x |
| Shareholders | 0.00x |
Updated 08 Oct 2026, 06:30 PM IST
IPO dates
| Event | Date |
|---|---|
| Bidding opens | 30 Sep 2026 |
| Bidding closes | 5 Oct 2026 |
| Allotment | 6 Oct 2026 |
| Refunds | 7 Oct 2026 |
| Shares credited to demat | 7 Oct 2026 |
| Listing | 8 Oct 2026 |
Lot size and application amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,34,000 |
| Retail (Max) | 1 | 2,000 | ₹1,34,000 |
| HNI (Min) | 2 | 4,000 | ₹2,68,000 |
About SJP Ultrasonics
SJP Ultrasonics Limited was incorporated in 2012 and provides end-to-end plastic joining and automation solutions. Its work falls into three parts: plastic joining solutions, industrial automation, and laser technology solutions. Customers are manufacturers, so the business is entirely business to business. The automotive industry is the main market, with further sales to medical, electrical, electronics, textile, FMCG, toys, gift and stationery, food and packaging, defence and educational customers. The manufacturing unit is at the Shiv Shankar Industrial Complex 2 at Bhutpada, Vasai East, in Palghar district of Maharashtra. The issue money is being used to add machines in house, including milling machines, a CNC lathe, a CNC bandsaw, an overhead crane, a six-axis robot, a CO2 laser cutting unit, a CMM machine, vibration welders and a laser plastic welder, along with design software. As on 31 March 2026 the company had 84 employees.
SJP Ultrasonics financials
| ₹ crore | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 35.20 | 27.06 | 16.97 |
| Total Income | 26.63 | 21.15 | 15.22 |
| Profit After Tax | 5.24 | 4.17 | 3.40 |
| EBITDA | 8.32 | 6.93 | 5.43 |
| NET Worth | 20.09 | 14.85 | 6.73 |
| Reserves and Surplus | 10.65 | 5.41 | 5.63 |
| Total Borrowing | 5.78 | 2.41 | 2.01 |
Key ratios
| Ratio | Value |
|---|---|
| P/E Ratio | 16.54 |
| EPS (₹) | 4.05 |
| RoE | 38.86% |
| RoCE | 50.80% |
| RoNW | 28.10% |
| PAT Margin | 19.81% |
| EBITDA Margin | 32.47% |
| Debt / Equity | 0.16 |
| NAV (₹) | 15.73 |
Strengths
- Margins are high for an engineering business, with a PAT margin of 19.81% and an EBITDA margin of 32.47%.
- Revenue has grown every year, from Rs 15.22 crore in FY2024 to Rs 21.15 crore in FY2025 and Rs 26.63 crore in FY2026.
- Profit after tax has grown from Rs 3.40 crore in FY2024 to Rs 4.17 crore in FY2025 and Rs 5.24 crore in FY2026.
- Return on capital employed is 50.80% and return on net worth is 28.10%.
- Debt is very low at Rs 5.78 crore against a net worth of Rs 20.09 crore, a debt to equity ratio of 0.16.
- Most of the money goes into the business. Rs 13.22 crore of the Rs 23.45 crore issue buys machinery and Rs 4.92 crore funds working capital, and the whole issue is fresh capital with no offer for sale.
- It sells into many industries beyond automotive, including medical, electrical, electronics, textile, FMCG, packaging and defence, which spreads demand.
Risks
- Return on equity is shown as 38.86% while return on net worth is shown as 28.10% for the same year, so the two published figures do not agree.
- The reserves row does not fit the rest of the table, falling from Rs 5.63 crore in FY2024 to Rs 5.41 crore in FY2025 while net worth more than doubled from Rs 6.73 crore to Rs 14.85 crore.
- Rs 3.16 crore of the Rs 23.45 crore issue goes on issue expenses, about 13% of the money raised.
- The issue is priced at 16.54 times post issue earnings on an EPS of Rs 4.05, against 12.07 times on a pre issue EPS of Rs 5.55.
- The company is small, with revenue of Rs 26.63 crore, a net worth of Rs 20.09 crore and 84 employees.
- All manufacturing is at one industrial unit at Vasai East in Palghar, so any disruption there stops production.
- The main market is automotive component manufacturing, where a slowdown in vehicle production feeds straight through to orders for welding and automation equipment.
- Capital equipment orders are lumpy. Customers defer machine purchases when their own demand is uncertain, so revenue can move sharply quarter to quarter.
- Borrowing rose from Rs 2.41 crore in FY2025 to Rs 5.78 crore in FY2026 even though it remains low.
- This is a fixed price issue at Rs 67 per share, so there is no price discovery through bidding, and promoter holding falls from 79.51% to 58%.
- This is an SME issue. One lot is 2,000 shares, which is about Rs 1.34 lakh at the upper band of Rs 67, and SME shares usually trade in low volume after listing.
Allotment status
Registrar: Maashitla Securities Private Limited. Check SJP Ultrasonics IPO allotment status.
FAQs
What is the price band of SJP Ultrasonics IPO?
₹67 per share.
What is the lot size of SJP Ultrasonics IPO?
2,000 shares, which costs ₹1,34,000 at the upper price band.
What is the GMP of SJP Ultrasonics IPO?
₹0 (0.00%) as of 08 Oct 2026, 08:24 AM IST. GMP is unofficial and not a prediction of the listing price.
When does SJP Ultrasonics IPO open and close?
It opens on 30 Sep 2026 and closes on 5 Oct 2026.
When is the allotment date of SJP Ultrasonics IPO?
6 Oct 2026.
When will SJP Ultrasonics IPO list?
8 Oct 2026 on BSE SME.
How many times was SJP Ultrasonics IPO subscribed?
1.78x overall.