Striders Impex shares list at 3% discount to IPO price on NSE SME platform

Striders Impex shares made a lukewarm debut on Friday, listing at nearly 3% discount to their IPO price. The stock opened at Rs 70 apiece on the BSE SME platform, marking a 2.7% discount to the issue priceof Rs 72.

The Rs 36.29 crore IPO, which closed for subscription on March 2, comprised a fresh issue of 45.31 lakh shares aggregating to Rs 33 crore and an offer for sale of 5.08 lakh shares worth Rs 3.66 crore. The price band for the issue was fixed at Rs 71-72 per share, and the shares were allotted at the upper end of the band at Rs 72.

The IPO received an overall subscription of 1.33 times. The qualified institutional buyer (QIB) category, excluding anchor investors, was subscribed 2.03 times, while the non-institutional investor (NII) segment saw demand of 1.70 times. The retail portion, however, was undersubscribed at 0.78 times.


Ahead of the issue, the company raised Rs 10.32 crore from anchor investors on February 25 by allotting 14,33,600 shares.

Business profile

Striders Impex is engaged in licensing, brand development and distribution of toys and children’s consumer merchandise.

The company offers end-to-end services including product design, sourcing, manufacturing and distribution, catering to retail channels across India and select international markets. Its product portfolio includes licensed merchandise, plush toys, stationery, activity sets, children’s accessories, school bags, lunch boxes and water bottles.

Striders Impex follows an asset-light business model and has licensing partnerships with global brands. It is also expanding its direct-to-consumer presence through e-commerce channels while strengthening its offline distribution network across Indian retail chains such as Timezone and Landmark.

Financial performance

For the nine months ended December 31, 2025, the company reported total income of Rs 50 crore and profit after tax of Rs 4 crore. In FY25, total income stood at Rs 61.95 crore with net profit of Rs 8 crore.

Use of proceeds

The company plans to utilise Rs 10 crore from the net proceeds to meet working capital requirements. It will also invest Rs 4 crore in its subsidiary Striders FZ LLC and Rs 6 crore in a newly incorporated UAE-based subsidiary to support working capital needs. Additionally, Rs 3 crore will be used for loan repayment, while the remaining funds will go towards general corporate purposes.

With the GMP currently flat and retail participation relatively subdued, listing expectations remain modest. Investors will watch whether institutional demand provides support to the stock after listing, particularly as sentiment in the SME IPO market remains cautious amid broader market volatility.