Shakti Press BSE RI review - (Not Rated)

•    The company that was primarily in the business of printing and publication has diversified into agri commodities trading.
•    It marked lackluster minuscule financial performances till FY25. For H1 of FY26, it posted average top line with higher bottom line, that raise eyebrows.
•    Based on its recent financial data, the RI appears aggressively priced.
•    It’s recent diversification in a over crowded competitive market of agri commodity trading.
•    There is no harm in skipping this pricey and dicey RI offer.

ABOUT COMPANY:
Shakti Press Ltd., (SPL) is engaged in the business of Printing and Publication, offering a comprehensive range of printing solutions across commercial, educational, government, and corporate segments. Its services span offset printing, digital printing, packaging materials, labels, stationery, books, periodicals, and other print-based products. Over the years, it has developed robust capabilities in high-quality printing, design support, and timely delivery, enabling it to cater to diverse client requirements across industries. 

The Company also engaged in the business of trading of agricultural commodities such as fruits, vegetables, seeds, orgonic products and herbal products and to do trading of the other agricultural products. The company is also engaged in contract manufacturing for agricultural and it works closely with customers—comprising government departments, educational institutions, private publishers, corporates, and distributors—ensuring that every assignment is executed with precision, quality, and consistency.

SPL’s strong industry presence has helped it build long-term relationships, supported by its commitment to innovation, reliability, and service excellence. The Company procures raw materials such as paper, ink, plates, and other printing inputs from established suppliers based on negotiated terms. With the backing of modern printing infrastructure, it undertakes contract printing, custom printing assignments, and large-volume publication work. Its processes are structured to ensure efficient production, cost effectiveness, and adherence to timelines, thereby enhancing customer satisfaction and sustaining its competitive position in the market. The offer document is silent on its employees’ strength data.

ISSUE DETAILS:
The company is coming out with its Rights Issue (RI) of 24641400 equity shares of Rs. 10 each at a fixed price of Rs. 20 per share to mobilize Rs. 49.28 cr. The RI opens for subscription on May 07, 2026, and will close on May 18, 2026. The company is offering RI in the ratio of 7 for 1 to its eligible stakeholders as of the record date of April 29, 2026. The company is asking for full money on application for number of shares applied. Post allotment, RI shares will be listed on BSE. The company is spending Rs. 0.25 cr. for this RI process, and from the net proceeds, it will utilize Rs. 44.75 cr. for working capital, and Rs. 4.29 cr. for general corporate purposes. Around eightfold post RI paid-up capital indicates its servicing issue in the near term.

The RI is solely lead managed by the company itself., and MUFG Intime India Pvt. Ltd. is the registrar to the issue. 

Post-RI, company’s current paid-up equity capital of Rs. 3.52 cr. will stand enhanced to Rs. 28.16 cr. Based on the RI pricing, the company is looking for a market cap of Rs. 56.32 cr. 

FINANCIAL PERFORMANCE:
On the financial performance front, for the last two fiscals, the company has posted total income / net profit, of Rs. 11.60 cr. / Rs. 0.48 cr. (FY24), Rs. 13.05 cr. / Rs. 0.07 cr. (FY25). For H1 of FY26 ended on September 30, 2025, it posted a net profit of Rs. 0.20 cr. on a total income of Rs. 4.56 cr. It posted minuscule operations so far. 

DIVIDEND POLICY:
The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects. The offer document is silent on its dividend policy.

SCRIP PERFORMANCE: BASED ON BSE WEBSITE DATA: SCRIP CODE: 526841 (FV Rs. 10).
The scrip last closed on cum-right basis at Rs. 30.42 on April 28, 2026, and opened on an ex-right basis at Rs. 22.35 on April 29, 2026. Since then, it has marked a high/low of Rs. 24.63/ Rs. 22.28. The scrip last closed at Rs. 22.62 as of May 06, 2026. For the last 52 weeks’ it has posted a high/low of Rs. 27.57 / Rs. 15.16. The counter is currently under ASM LR: Stage 1.

The promoters’ holding has been around 46% and it had 45.58% promoter holding for the quarter ended March 2026, against 46.01% for quarter ended December 31, 2025. The counter appears rigged and well managed by vested interests to tempt investors.