- Q1. What is the business of Submarine Pens Limited?
It manufactures premium writing instruments and personalized gift sets, primarily serving the corporate gifting sector. - Q2. Why is the company raising funds via IPO?
Submarine Pens limited is raising funds via IPO primarily to purchase a new factory in Vasai, fund working capital, and support general corporate growth. - Q3. What is the issue size of the IPO and where will it list?
The IPO comprises of 3,702,400 fresh equity shares and is proposed to be listed on NSE Emerge. - Q4. What are the key risks to an investor?
Key risks to invest in the IPO include geographic concentration in three states, high client dependency, raw material price volatility, and SME-listing liquidity risks. - Q5. What are the potential upsides?
Positive sides to ivest in the IPO include high financial growth, zero debt, NASA/Swissbrand licensing, and expanding a dominant 80% share in corporate gifting. - Q6. How to apply for the IPO?
Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers. - Q 7. When is the tentative listing date?
Expected listing date for the IPO is yet to be announced. But listing is expected in the first half of 2026.
Upcoming
Submarine Pens India Limited IPO: GMP today, Price, Review, Detail
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IPO Score
0
*Score varies on actual price
Submarine Pens Limited, founded by Shalin Gandhi in 1995, is a prominent Mumbai-based manufacturer specializing in high-quality writing instruments, including metal, plastic, and rollerball pens. The company primarily operates in the corporate gifting segment (contributing approximately 80% of revenue) and has expanded into unique collections like the NASA, ISRO, and coffee-scented series.
To fuel its growth, the company filed for an SME IPO on the NSE Emerge platform in late 2025/early 2026. The issue consists of a fresh release of 37,02,400 equity shares aimed at funding a new processing unit in Vasai and meeting working capital needs. With a strong financial trajectory, including a revenue of ₹39.4 crore in FY25, Submarine Pens continues to leverage its licensing deals (such as Swissbrand) and innovation to capture the premium stationery market.
Submarine Pens Limited India Limited was incorporated on December 7, 2021.The company is currently led by Mr. Shalin Gandhi.
Submarine Pens Limited specializes in manufacturing high-quality ball pens, roller pens, and fountain pens. Core offerings include corporate gift sets, personalized executive pens, and unique collections like the NASA, ISRO, and coffee-scented series, primarily catering to the B2B and premium stationery markets.
Submarine Pens reaches customers through Archies Gallery, premium A+ stationery shops, and its e-commerce site. With a flagship store at Mumbai Airport (T1), it dominates the corporate gifting sector (80% of revenue) and holds between 10–15% share of India’s premium branded pen market.
Revenue, PAT, EBITDA
Year |
2025 |
|---|---|
Networth
|
₹ 9.9 Cr
|
Revenue
|
₹ 39.4 Cr
|
EBITDA
|
₹ 7.4 Cr
|
PAT
|
₹ 6.1 Cr
|
EBITDA Margin
|
18.81%
|
PAT Margin
|
15.58%
|
Face Value
|
NIL
|
IPO Important Dates
# |
Date |
|---|---|
Open Date
|
TBA
|
Close Date
|
TBA
|
Anchor Investor Bidding
|
TBA
|
Allotment Date
|
TBA
|
Refunds& Demat Credit
|
TBA
|
Tentative Listing Date
|
TBA
|
Use Of Proceeds
Purpose |
Amount |
|---|---|
Setting new Assembly unit
|
9.87 Cr
|
Working capital requirements
|
11.00 Cr
|
-
|
-
|
-
|
-
|
-
|
-
|
General Corporate Purpose
|
Balance
|
Financial Data
# |
2023 |
2024 |
2025 |
|---|---|---|---|
Revenue (₹ Cr)
|
₹ 10.6
|
₹ 21.8
|
₹ 39.4
|
PAT (₹ Cr)
|
₹ 0.9
|
₹ 2.9
|
₹ 6.1
|
Asset (₹ Cr)
|
₹ 4.8
|
₹ 7.5
|
₹ 16.7
|
Net Worth (₹ Cr)
|
₹ 0.9
|
₹ 3.8
|
₹ 9.9
|
IPO Grey Market Premium
Date |
IPO Price |
IPO GMP |
Profit Per Lot |
|---|---|---|---|
08-Aug
|
₹ –
|
₹ –
|
₹ –
|
07-Aug
|
₹ –
|
₹ –
|
₹ –
|
06-Aug
|
₹ –
|
₹ –
|
₹ –
|
05-Aug
|
₹ –
|
₹ –
|
₹ –
|
04-Aug
|
₹ –
|
₹ –
|
₹ –
|
Promoters – Pre offer equity (Approx)
Promoters |
% Shares |
|---|---|
Mr. Shalibhadra P Gandhi
|
70.00%
|
Ms. Pritu Shalibhadra Gandhi
|
24.00%
|
Ms. Urjasvi Shalibhadra Gandhi
|
1.00%
|
-
|
-
|
-
|
-
|
-
|
-
|
Lot Size details
Application Type |
Lot Size |
No. of Lot |
No. of Shares |
Investment Amount |
|---|---|---|---|---|
Retail (Min)
|
–
|
1
|
–
|
₹ –
|
Retail (Max)
|
–
|
13
|
–
|
₹ –
|
HNI (Min)
|
–
|
14
|
–
|
₹ –
|
HNI (Max)
|
–
|
66
|
–
|
₹ –
|
Big HNI (Min)
|
–
|
67
|
–
|
₹ –
|
Key Performance Index (KPI)
ROE |
00 |
|---|---|
ROCE
|
00
|
RoNW
|
00
|
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