Updated 06.03.2026|10:12 AM
Striders Impex Limited is set to launch its IPO. It is an asset-light company specialising in the licensing, development, and distribution of proprietary toy brands like Pugs at Play.
Opening on February 26, 2026, and closing on March 2, 2026, the issue aims to raise approximately ₹36.29 Crores via a combination of a fresh issue and an Offer for Sale (OFS). Track all the IPOs of 2026 in our upcoming and live IPOs section which is updated regularly.
The price band is fixed at ₹71 to ₹72 per share, requiring a minimum retail investment of 3,200 shares (2 lots).
In this article, you will find Striders Impex IPO GMP today, price band, and a detailed review. For subscription details of this IPO check our dedicated IPO subscription section and for the allotment status, check the details at our IPO allotment section.
Striders Impex IPO Details
- Price Band: ₹71–₹72 per share
- IPO Open / Close Dates: February 26, 2026, to March 2, 2026
- Lot Size: 1,600 Shares (Retail minimum application is 2 lots / 3,200 shares)
- Issue Size: 50,40,000 shares / ~₹36.29 crores
- Fresh Issue / OFS: Fresh Issue of 42,78,400 shares and OFS of 5,08,800 shares
- Registrar: MUFG Intime India Pvt.Ltd.
- Listing Exchange: NSE SME
The investors who have queries regarding credit of share, refunds or other allotment related issue at MUFG Intime, they can check our detailed guide on MUFG Intime IPO allotment status.
What Is The Striders Impex IPO GMP Today?
You can check the GMP of this and other issues at our GMP hub page.
GMP changes daily based on market demand (unofficial indicator and not regularised by SEBI/NSE/BSE).
Listing Updates:
| Type | Issue Price | Open | Gain/loss |
| Lisiting | 72 | 70 | -2.8 |
What Are The Important Striders Impex IPO Dates & Allotment Schedule?
- IPO Open & Close Date: February 26, 2026 to March 2, 2026
- Basis of Allotment Date: March 4, 2026
- Refund Initiation Date: March 5, 2026
- Credit of Shares: March 5, 2026
- Listing Date: March 6, 2026
What Are The Objectives of Striders Impex IPO?
The company proposes to utilise the Net Proceeds from the Fresh Issue towards the following specific objectives:
- Funding Domestic Working Capital: ₹10.00 Crores is earmarked to meet the incremental working capital requirements of the Indian entity, supporting its day-to-day operations and inventory management.
- Funding International Subsidiaries: ₹11.00 Crores will be invested in its UAE-based subsidiaries (Striders FZ LLC and Striders Hub General Trading LLC) to fund their respective working capital needs and aid expansion in the Middle East market.
- Repayment of Borrowings: ₹3.00 Crores is allocated for the full or partial repayment/prepayment of certain existing outstanding borrowings, which will assist in reducing the overall finance costs.
- General Corporate Purposes: The remaining balance will be deployed towards general corporate initiatives and ongoing business exigencies.
Note: The company will not receive any proceeds from the Offer for Sale (OFS) component. All funds raised through the OFS will go directly to the respective selling shareholders.
How is The Financial Performance of Striders Impex?
The following table presents the financial information for Striders Impex Limited in Crores (₹).
Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Total Income | 49.61 | 61.95 | 41.77 | 29.97 |
Profit After Tax | 4.01 | 8.41 | 4.39 | 2.03 |
EBITDA | 6.49 | 9.32 | 5.31 | 3.09 |
Net Worth | 23.53 | 15.07 | 6.47 | 2.08 |
Total Borrowing | 22.92 | 20.55 | 14.65 | 4.22 |
Assets | 58.83 | 48.70 | 29.45 | 17.00 |
Source: RHP
Financial Analysis
Note: The figures for the periods ended 31 Dec 2025 and 31 Mar 2025 are presented on a Consolidated basis, while the figures for 31 Mar 2024 and 31 Mar 2023 are on a Standalone basis.
Total Income:
The company recorded an increase in total income from ₹29.97 crores in FY23 to ₹61.95 crores in FY25. This change was supported by the introduction of new products and geographic expansion into the Middle East.
Profit After Tax (PAT):
Net profit grew from ₹4.39 crores in FY24 to ₹8.41 crores in FY25. The PAT margin stood at 13.59% in FY25, reflecting operational changes during that period.
EBITDA:
Operating earnings increased to ₹9.32 crores in FY25, representing a 15.07% margin. This metric reflects the cost structures of the company's outsourced manufacturing approach.
Net Worth:
Shareholder equity increased to ₹23.53 crores by December 2025. This reflects the retention of earnings over the documented fiscal periods.
Total Borrowing:
Debt levels reached ₹22.92 crores by December 2025, up from ₹4.22 crores in FY23. The increase is associated with working capital needs to build inventory for the direct distribution model.
Assets:
The asset base expanded to ₹58.83 crores as of December 2025. This growth corresponds with the higher levels of current assets, such as trade receivables and inventory, required for operations.
What Are The P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹6.27, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 11.48x at the upper end of the price band (₹72).
P/E Ratio = ₹72(Price) / ₹6.27(Earnings Per Share)
P/E Ratio ≈ 11.48x
Peer Comparison Table (FY 2024-25 Data):
Company | P/E Ratio | RoNW (%) | EPS (₹) |
Striders Impex | 11.48 | 56.51 | 6.27 |
OK Play India Limited | N/A (Loss) | (0.59%) | (0.02) |
Analysis:
Striders Impex is entering the market at a P/E multiple of approximately 11.48x based on its FY25 EPS. The company benchmarks itself against OK Play India Limited in its Red Herring Prospectus.
Because OK Play India reported a negative EPS (-₹0.02) for the same period, its P/E ratio is Not Applicable (NA), making a direct numerical valuation comparison impossible. However, looking at fundamental efficiency, Striders Impex demonstrates a good financial profile.
The company reported a Return on Net Worth (RoNW) of 56.51%, compared to OK Play India's negative return (-0.59%). This indicates that Striders Impex is efficient in generating profits from shareholder equity through its asset-light, outsourced manufacturing model, standing out significantly against its only listed peer.
What is The Industry Outlook of Striders Impex Limited?
Growth potential:
The Indian toy and kids' merchandise market is observing a shift from unorganised to organised retail segments. Disposable incomes and a focus on licensed merchandise are primary drivers for consumption in this category.
Market trends and competitors:
Supply chain approaches are adapting to incorporate dual-sourcing models. The competitive landscape includes local importers and established manufacturers operating within the children's consumer goods sector.
What Are The Strengths and Risks of Striders Impex IPO?
Strengths:
- Asset-Light Operations: The company outsources manufacturing to third-party vendors, avoiding capital expenditure on production facilities.
- Sourcing Strategy: Procurement relies on vendors in both India and China, providing alternative supply routes for inventory management.
- Financial Metrics: The business reported an EBITDA margin of 15.07% and a Return on Net Worth of 56.51% in Fiscal 2025.
Risks:
- Supplier Dependence: Procurement is heavily reliant on Chinese manufacturers through purchase orders rather than long-term supply agreements.
- Customer Concentration: The top 10 customers accounted for 73.50% of total sales for the nine months ended December 2025.
- Cash Flow Constraints: The company registered negative cash flows from operating activities of ₹6.75 crores for the period ended December 2025.
Key Considerations for Investors
This section is for information purposes only and does not constitute financial advice.
Investors should note the Minimum Investment structure and operational facts before evaluating the issue.
- Minimum Application: The lot size is 1,600 Shares. Based on the data provided, the minimum application for Retail Individual Investors is 2 Lots (3,200 Shares), amounting to ₹2,30,400. Note: As this investment amount exceeds the standard ₹2 Lakh retail threshold, such applications will technically fall under the Small-HNI (sNII) category as per standard bidding rules.
- Valuation: The issue is priced at a P/E multiple of ~11.48x, based on the retrospectively adjusted FY25 EPS of ₹6.27. Investors must evaluate this pricing against the company's financial records and the lack of profitable listed industry peers for direct comparison.
- Risk Profile: While the company reported a Return on Net Worth (RoNW) of 56.51% in FY25 through its asset-light model, it exhibits high supplier and customer concentration. Furthermore, the company recorded negative operating cash flows of ₹6.75 Crores in the period ended December 2025 due to working capital and inventory requirements tied to its UAE expansion.
Key Takeaways
- IPO Price Band: ₹71 to ₹72 per share
- Lot Size: 1,600 Shares (Retail Minimum Application: 3,200 shares)
- Allotment: March 4, 2026
- Listing Date: March 6, 2026
FAQs on Striders Impex IPO
What is Striders Impex IPO GMP today?
The GMP is a dynamic market sentiment indicator. Check gmp of this and other ipos at our gmp today page.
What is Striders Impex IPO price band?
The price band is fixed at ₹71 to ₹72 per equity share.
What is Striders Impex IPO allotment date?
The basis of allotment will be finalised on Wednesday, March 4, 2026.
How to check Striders Impex IPO allotment status?
Investors can check their application status on the official website of the registrar, MUFG Intime India Pvt.Ltd., or via the NSE IPO allotment portal once declared.
What is Striders Impex IPO listing date?
The equity shares are tentatively scheduled to be listed on Friday, March 6, 2026.
Investment Perspective on Striders Impex IPO
The company operates an outsourced manufacturing model in the toys and merchandise sector with specific expansion objectives. Prospective investors should review the financial records, the working capital requirements, and the concentration risks outlined in the RHP before making an investment decision.
Disclaimer:
This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
