Kataline files DRHP for IPO; plans 43 lakh fresh issue, OFS

Kataline Limited, a Nagpur-based integrated traffic safety solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI), marking its move towards an initial public offering (IPO).

Incorporated in 2008, Kataline has evolved from a road-marking paint manufacturer into an integrated traffic safety solutions company. Its capabilities span specialised manufacturing, road safety marking products, in-house accredited quality testing and end-to-end project execution.

Kataline IPO details

The proposed IPO comprises a fresh issue of up to 43 lakh equity shares with a face value of Rs 10 each and an offer for sale (OFS) of up to 43 lakh equity shares by promoter selling shareholders Amit Arvind Thatte and Ketaki Amit Thatte.

The company may also consider a pre-IPO placement of up to 6.70 lakh equity shares, subject to applicable laws. The size of the pre-IPO placement, if completed, will be reduced from the fresh issue.

Kataline plans to utilise the net proceeds from the fresh issue towards working capital requirements, capital expenditure for upgrading its manufacturing facility, purchase of project execution equipment and general corporate purposes.

The company is promoted by Amit Arvind Thatte, Ketaki Amit Thatte and Abhishek Amit Thatte, who collectively have more than 37 years of experience in manufacturing and distribution of specialised paints and road safety marking products.
Road safety products form core business

Kataline manufactures road safety marking products across four categories — hot-applied thermoplastic marking materials, cold-applied plastic materials, water- and solvent-based road safety marking paints, and road safety components and devices.

Hot-applied thermoplastics remain the company’s key revenue contributor, accounting for 84.82% of revenue from operations in FY2026. These products are used for flat-line, broken-line, arrow, chevron and bar markings on medium- to heavily trafficked roads and highways.

The company also manufactures specialised profiled and dot markings that are designed to create audible and vibratory alerts for drivers. In addition to manufacturing, Kataline provides end-to-end project execution services through specialised equipment and trained manpower.
Projects across highways, airports and smart cities

Kataline has completed more than 60 projects contributing over Rs 50 lakh each during the preceding three fiscals. Its project portfolio spans highways, expressways, airports, smart cities and urban infrastructure.

Some of its key projects include Samruddhi Mahamarg, Delhi–Vadodara Expressway, Eastern Peripheral Expressway, Ganga Expressway, Bundelkhand Expressway, Raipur–Visakhapatnam Economic Corridor Expressway, Purvanchal Expressway and Chennai Peripheral Ring Road.
The company has served customers across 24 states and union territories in India.

FIA-listed road marking paint for racing circuits

A notable part of Kataline’s portfolio is its specialised road-marking paint developed for Formula 1 racing circuits.

According to the DRHP, Kataline is among the few manufacturers globally, one of only two manufacturers from Asia and the only manufacturer from India currently listed by the Fédération Internationale de l'Automobile (FIA) with paint homologated under FIA Standard 3503-2019 for motor racing circuits.

The company has also expanded into adjacent areas of infrastructure protection and sustainable urban infrastructure through products such as Trakguard and Flexipave. It plans to further expand its presence in specialised road safety applications, including pedestrian zone markings, black spot remediation and advanced road stud systems.

Kataline financial performance

Kataline reported strong growth in FY2026, with revenue from operations rising 38.79% to Rs 220.58 crore, compared with Rs 158.93 crore in FY2025. EBITDA increased to Rs 36.26 crore from Rs 24.46 crore, while the EBITDA margin improved to 16.44% from 15.39%. Restated profit after tax (PAT) rose 61.15% to Rs 26.83 crore in FY2026 from Rs 16.65 crore in the previous fiscal. Revenue from sale of services also increased sharply, rising 92.68% to Rs 65.57 crore from Rs 34.03 crore.

InCred Capital Financial Services Limited and Ashika Capital Limited are the Book Running Lead Managers to the issue.

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