Striders Impex SME IPO Review | APPLY or AVOID?
Striders Impex Limited started in 2007. It operates in the toys and kids’ consumer merchandise industry and provides design and distribution services to its customers across India and UAE. This business is based in India. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio.
Striders Impex Limited shows rapid growth but the aggressive pricing remains a key point to consider investors.
IPO Details | |
|---|---|
| Issue Type | Book Building |
| IPO Category | SME |
| Face Value | ₹10 Per Share |
| Fresh Issue | ₹32.63 Cr. (45,31,200 shares) |
| Offer for Sale | ₹3.66 Cr. (5,08,800 shares) |
| Listing At | NSE SME |
Reservation & Lot Size | |
|---|---|
| Retail (Min) | 2 Lot | 3200 Shares | ₹2,30,400 |
| Retail (Max) | 2 Lot | 3200 Shares | ₹2,30,400 |
| S-HNI (Min) | 3 Lot | 4800 Shares | ₹3,45,600 |
| S-HNI (Max)| 8 Lot | 12,800 Shares | ₹9,21,600 |
| B-HNI (Min) | 9 Lot | 14,400 Shares | ₹10,36,800 |
| Market Maker | 2,52,800 shares | ₹2 Cr |
✅ Strengths
⚠️ Challenges
Financial Update
The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹60.82 crore. The net profit for the same period was ₹8.02 crore. Total income grew by nearly 45% compared to the previous year. The sudden increase in profits right before the IPO might not be sustainable for long-term investors. This trend should be carefully studied prior to any investment.
IPO Valuation
The upper price band is ₹72. This price leads to a Price-to-Earnings (P/E) ratio of 25.07x based on FY25 earnings. The industry peer OK Play has a P/E which is not available for direct comparison. The company is asking for a high price despite a drop in 9M-FY26 performance.
IPO Objective
Company will use Offer proceeds to meet stated objectives:
Promoters & Lead Manager
Peer Comparison
Below is the comparison of the company with its listed peers using data from February 20, 2026. The comparison with OK Play is not very helpful as the business models differ significantly.
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | RoNW (%) | P/BV Ratio | Financial Statements |
|---|---|---|---|---|---|---|
| Striders Impex Ltd. | 6.27 | 6.27 | 11.09 | 56.51 | ||
| Ok Play India Ltd | -0.02 | -0.02 | 4.43 | -0.59 | 1.25 |
Financial data sourced from annual reports and stock exchange data, using restated financial statements for 2024-25. NAV per share (closing net worth divided by weighted average number of paid-up equity shares) and RoNW (net profit after tax divided by closing net worth).
IPO Review & Analyst Rating
Striders Impex Limited handles licensing and distribution for kids’ toys. The company showed good growth in the last three years. However the latest nine-month data for FY26 shows a drop in profit. The pricing of the IPO is very high compared to the actual earnings. The lead manager does not have a good track record in the market.
| Analyst Name | Recommendation |
|---|---|
| – | – |
| – | – |
| – | – |
Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.
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