Striders Impex IPO Overview
Striders Impex Limited is a Mumbai-based consumer products company engaged in the licensing, development, sourcing, distribution and sale of toys and children’s merchandise across India and international markets. The business works through licensed partnerships with global brands (e.g., Disney, Hamleys, Miniso) and its own portfolio of proprietary brands such as Pugs at Play, Furry Pals, Gurliez, Minds at Play, and others. It operates an asset-light, scalable distribution model spanning retail, general trade and e-commerce, and has a presence in the United Arab Emirates via a subsidiary.
Striders Impex is launching its IPO on the NSE SME (NSE Emerge) platform to raise approx. ₹36.29 crore through a mix of fresh issue and offer for sale (OFS). The IPO opens on 26 February 2026 and closes on 2 March 2026, with a price band of ₹71 to ₹72 per share.
IPO DETAILED INFORMATION
Issue Details
| Parameter | Details |
| IPO Type | Book Built Offer – SME |
| IPO Open Date | 26 February 2026 |
| IPO Close Date | 02 March 2026 |
| Allotment Date | 04 March 2026 (Expected) |
| Credit to Demat | 05 March 2026 (Expected) |
| Refund Initiation | 05 March 2026 (Expected) |
| Listing Date | 06 March 2026 (Tentative) |
| Price Band | ₹71 to ₹72 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,600 shares per lot |
| Min Investment (Retail) | ₹2,30,400 (2 lots) |
| sNII Investment | ₹3,45,600 (3 lots) |
| bNII Investment | ₹10,36,800+ (9 lots) |
| Issue Size | ₹36.29 crore (total) |
| Fresh Issue | ~₹32.62 crore |
| Offer for Sale (OFS) | ~₹3.66 crore |
| Total Shares Offered | 50,40,000 equity shares |
| Listing | NSE SME (Emerge) |
Retail investors must bid for at least 2 lots (3,200 shares). Note the SME IPO typically requires a relatively high minimum investment.
Issue Break-up
| Category | Allocation | Shares |
| Qualified Institutional Buyers (QIB) | ~50% | 23,90,400 |
| Non-Institutional Investors (NII) | ~14.29% | 7,20,000 |
| Retail Individual Investors (RII) | ~33.27% | 16,76,800 |
| Market Maker | ~5.02% | 2,52,800 |
| Total | 100% | 50,40,000 |
Categories follow standard SME allocation norms.
Selling Shareholders (OFS)
- OFS component: ~₹3.66 crore (approx.) of share sale by existing shareholders.
- Fresh issue: ~₹32.62 crore of new shares to fund business objectives.
- Promoter and shareholder stake movement will be visible in the RHP’s shareholding table.
Objects of the Issue (Fund Utilization)
The company plans to utilize IPO proceeds for the following purposes:
- Funding working capital requirements in India.
- Investment in Striders FZ LLC (existing UAE entity) to support working capital.
- Investment in a newly proposed wholly owned subsidiary in mainland UAE for expansion.
- Repayment of loans to improve debt profile.
- General corporate purposes.
These uses aim to strengthen domestic operations, expand international presence and support brand building and distribution growth.
Lead Managers & Registrar
- Book Running Lead Manager (BRLM): CapitalSquare Advisors Pvt. Ltd.
- Registrar to the Issue: MUFG Intime India Pvt. Ltd.
Promoters & Management
Primary promoters include Kumarshri Rajkumar Bahety and Mustafa Esmail Kapasi, who are involved in the company’s strategic licensing, distribution and market expansion initiatives.
COMPANY DETAILS
About the Business:
Incorporated in 2021, Striders Impex operates in the leisure products and children’s merchandise segment, focusing on:
- Licensing and distribution of globally recognized toy and kids’ product brands.
- Proprietary brand development and IP creation.
- Pan-India omnichannel distribution network including modern trade, general trade, and e-commerce.
- International operations through a subsidiary in the UAE to support global distribution and export.
Business Model:
The company follows an asset-light, scalable model—outsourcing manufacturing and focusing on design, licensing, brand building, and distribution. Licensed partnerships help it leverage popular IPs while proprietary brands support margin expansion.
Financial Snapshot
(Based on latest available consolidated figures from pre-IPO reporting)
| Period Ended | Total Income (₹ Cr) | PAT (₹ Cr) | EBITDA (₹ Cr) | EBITDA Margin (%) |
| FY24 | ~41.77 | ~4.39 | ~5.31 | ~12.7% |
| FY25 | ~61.95 | ~8.41 | ~9.32 | ~15.1% |
| Dec-25 (9M) | ~49.61 | ~4.01 | ~6.49 | ~13.1% |
Revenue has shown strong growth (~48% YoY FY24→FY25) with profitability expanding, reflecting brand licensing and distribution scale.
Company Strengths
- Asset-light, licensing-led business model that supports scalable and efficient capital use.
- Strong licensing alliances with global brands such as Disney, Hamleys and Miniso, enhancing product appeal and distribution reach.
- Growing portfolio of proprietary IPs that enhances margins and brand equity.
- Pan-India omnichannel distribution network, supporting deeper market penetration.
- International presence through subsidiaries, supporting export growth and global reach.
- Consistent revenue and PAT growth, demonstrating business traction pre-IPO.
Key Risks & Challenges
- Competitive Consumer & Toy Segment – intense competition from large branded players and online platforms.
- Dependence on Licensing Partners – renewal and terms of licensing arrangements can impact product pipeline and margins.
- Working Capital Intensive Operations – distribution and export cycles require continuous funding.
- Currency & Overseas Risks – overseas operations (UAE) expose the company to forex fluctuations.
- SME IPO Liquidity Risk – SME-listed shares can have low post-listing liquidity and higher volatility.
Disclaimer
This document is for educational and informational purposes only and does not constitute investment advice. Investors should read the official Red Herring Prospectus (RHP) and consult financial advisors before making investment decisions. Past performance is not indicative of future results and all investments are subject to market risks.
