Matangi Rubber IPO

About Matangi Rubber IPO

The Matangi Rubber IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of a fresh issue and an offer for sale component. The fresh issue will include up to 57,61,831 shares aggregating up to ₹[TBA] crores. The offer for sale will include up to 15,15,150 shares of ₹10 aggregating up to ₹[TBA] crores. The total number of shares is 72,76,981 and the aggregate amount is yet to be finalised.

Matangi Rubber IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA. The Matangi Rubber IPO will be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE), making it a mainboard listing on both major Indian stock exchanges.

Matangi Rubber is engaged in the business of manufacturing tyre-flaps, tubes & rubber compounds. Their tyre portfolio primarily caters to the 2-wheeler and 3-wheeler segments, while the tyre flaps and tubes manufactured by us are mainly used in commercial vehicles such as trucks, buses, and heavy utility vehicles. Whereas rubber compound is used in manufacturing of other rubber materials.

Objectives of Matangi Rubber IPO

• Repayment/pre-payment, in full or in part, of certain outstanding loans availed by the company.
  
• Funding capital expenditure requirements for setting up a green field manufacturing facility for Rubber Recycling Products (Bhind, Madhya Pradesh).
  
• Funding capital expenditure requirements for setting up a green field manufacturing facility for production of Solid Tyres (Bhind, Madhya Pradesh).
  
• General corporate purposes.
  

Industry Outlook

India represents one of the major rubber-consuming markets globally, supported by its large tyre manufacturing base, expanding vehicle population and strong replacement-demand ecosystem. The Indian rubber market includes natural rubber (“NR”), synthetic rubber (“SR”), reclaimed rubber and downstream rubber-based products such as tyres, tubes, flaps, tread rubber and industrial rubber components. The Indian rubber market was valued at approximately USD 0.413 billion in 2025, is estimated at approximately USD 0.435 billion in 2026 and is projected to reach approximately USD 0.695 billion by 2035, growing at a CAGR of 5.33% during the forecast period. The market continues to be driven primarily by tyre-sector demand, which accounts for a significant share of domestic rubber consumption. Growth in passenger vehicles, two-wheelers, commercial vehicles, freight transportation and infrastructure activity continues to support both OEM and replacement-market demand for rubber products.

About Matangi Rubber

Matangi Rubber is engaged in the business of manufacturing tyres, tyre-flaps, tubes & rubber compounds. Their tyre portfolio primarily caters to the 2-wheeler and 3-wheeler segments, while the tyre flaps and tubes manufactured by the company are mainly used in commercial vehicles such as trucks, buses, and heavy utility vehicles. Whereas rubber compound is used in manufacturing of other rubber materials. They have in total five manufacturing plants out of which two plants are located at Selaqui (Dehradun, Uttarakhand), two plants at Bhind (Gwalior, Madhya Pradesh) and one plant at Gummidipoondi (Chennai, Tamil Nadu).

Strengths of Matangi Rubber

• Experienced promoter and key managerial personnel.
  
• Track record of consistent financial performance.
  
• Long-standing relationships with customers.
  
• Business model and ability to mitigate operational risk.
  

Risks of Matangi Rubber

• There are certain outstanding legal proceedings involving the company which if determined against them, may have an adverse effect on their business, cash flows and results of operations.
  
• They have experienced negative cash flows from operating, investing and financing activities in the past and may continue to do so in the future.
  
• An increase in raw material prices and fluctuations may adversely impact their business, financial condition, and operational results.
  
• Their business is dependent and will continue to be dependent on their manufacturing units.
  
• Any adverse developments, social and political developments and natural disasters affecting their operations in Uttarakhand could have an adverse impact on their revenue and results of operations.
  
• They derive a significant portion of their revenue from operations from their key customers and their top 10 customers.
  
• Rubber is a combustible commodity which may lead to any fire mishaps or accidents that could lead to property damages, property loss and accident claim.
  
• Their business is dependent on a limited number of suppliers to procure their raw materials, packing materials, and tools and equipment.
  

Anchor Investor Bidding Date: TBA

Registrar: Bigshare Services Private Limited is a SEBI-registered registrar and share transfer agent (SEBI Registration No. INR000001385) headquartered in Mumbai, Maharashtra. They handle IPO processing, share allotment, refund initiation, demat credit services, and investor grievance redressal for this offer. Investors may reach them at ipo@bigshareonline.com or +91 022-6263 8200.

Book Running Lead Manager: Sarthi Capital Advisors Private Limited

Matangi Rubber Business Model

The company earns its revenue through manufacturing tyre-flaps, tubes & rubber compounds.

Matangi Rubber Growth Trajectory

Matangi Rubber’s Total Income for FY24 was ₹91.261 crores, whereas in FY23 it was ₹87.465 crores. (Standalone)

The Profit After Tax for FY24 was ₹4.812 crores, whereas in FY23 it was ₹2.741 crores.

Their EBITDA for FY24 was ₹10.385 crores, whereas in FY23 it was ₹7.811 crores. (Consolidated)

For FY25, the company’s Total Income, Profit After Tax, and EBITDA were ₹106.303 crores, ₹20.028 crores, and ₹30.887 crores, respectively.

Matangi Rubber Market Position

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹106.303 crores, ₹20.028 crores, and ₹30.887 crores, respectively.

How to apply for Matangi Rubber IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.