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 and has expanded into unique collections like the NASA, ISRO, and coffee-scented series.
The company filed for an SME IPO and aims to raise funds to setup 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 reaches its 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.
Submarine Pens Limited has filed DRHP with SEBI for a proposed IPO with an issue size of 37,02,400 Equity Shares consisting entirely as Fresh Issue of 37,02,400 Equity Shares and no Offer for Sale (OFS).
Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.