India’s toy and kids consumer merchandise market is witnessing structured growth, supported by increasing brand licensing opportunities, rising organised retail penetration, and growing demand through e commerce platforms. The government’s focus on domestic manufacturing and import substitution in toys has further strengthened the sector’s outlook.
Against this backdrop, Striders Impex Limited is set to open its IPO on February 26, 2026. Here is a detailed insight into Striders Impex Limited, its IPO structure, financials and industry outlook.
About Striders Impex Ltd.
Incorporated in 2021, Striders Impex Limited is engaged in licensing, own brand development, and distribution of toys and kids’ consumer merchandise.
The company provides end to end solutions including product design, sourcing, manufacturing and distribution. It caters to retail formats across India and selected international markets. The business is supported by both offline retail partnerships and direct to consumer e commerce channels.
Business Model
• Licensing and brand partnerships
• Sourcing and manufacturing
• Distribution strategy across online and offline channels
Product Portfolio
• Licensed merchandise
• Proprietary brands
• Plush toys and interactive plush
• Stationery and activity sets
• School bags and children accessories
• Water bottles and lunch boxes
As of December 31, 2025, the company had 36 employees.
Striders Impex Ltd. IPO Details
Striders Impex IPO is a book building issue of ₹36.29 crore. The issue consists of a fresh issue of 0.45 crore shares aggregating to ₹32.62 crore and an offer for sale of 0.05 crore shares aggregating to ₹3.66 crore.
The company proposes to utilise the net proceeds towards working capital requirements, investment in subsidiaries including UAE operations, repayment of loans, and general corporate purposes.
Important IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | February 26, 2026 |
| IPO Close Date | March 2, 2026 |
| Allotment Date (Tentative) | March 4, 2026 |
| Initiation of Refunds | March 5, 2026 |
| Credit of Shares to Demat | March 5, 2026 |
| Listing Date (Tentative) | March 6, 2026 |
Key IPO Details
| Particular | Details |
|---|---|
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹72 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 50,40,000 shares (₹36.29 crore) |
| Fresh Issue | 42,78,400 shares (₹32.62 crore) |
| Offer for Sale | 5,08,800 shares (₹3.66 crore) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Market Cap (Pre IPO) | ₹134.04 crore |
| Shareholding Pre Issue | 1,40,85,680 shares |
| Shareholding Post Issue | 1,86,16,880 shares |
Lot Size of Striders Impex IPO
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,30,400 |
| Retail (Max) | 2 | 3,200 | ₹2,30,400 |
| S HNI (Min) | 3 | 4,800 | ₹3,45,600 |
| S HNI (Max) | 8 | 12,800 | ₹9,21,600 |
| B HNI (Min) | 9 | 14,400 | ₹10,36,800 |
IPO Reservation
| Investor Category | Shares Offered | Allocation % |
|---|---|---|
| QIB | 14,33,600 | 35.11% |
| Anchor Investors | 14,33,600 | 35.11% |
| NII | 7,20,000 | 17.63% |
| Retail | 16,76,800 | 41.07% |
| Market Maker | 2,52,800 | 6.19% |
| Total | 40,83,200 | 100% |
Anchor investors raised ₹10.32 crore on February 25, 2026.
Striders Impex Ltd. Financials
The December 2025 and March 2025 financials are consolidated, while March 2024 financials are standalone.
Key Company Financials (₹ Crore)
| Particular | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 58.83 | 48.70 | 29.45 |
| Total Income | 49.61 | 61.95 | 41.77 |
| Profit After Tax | 4.01 | 8.41 | 4.39 |
| EBITDA | 6.49 | 9.32 | 5.31 |
| Net Worth | 23.53 | 14.88 | 6.47 |
| Total Borrowing | 22.92 | 20.55 | 14.65 |
Key Performance Indicators
| KPI | Dec 2025 | Mar 2025 |
|---|---|---|
| ROCE | 25.98% | 57.96% |
| Debt to Equity | 0.97 | 1.36 |
| RoNW | 17.05% | 55.81% |
| PAT Margin | 8.09% | 13.59% |
| EBITDA Margin | 13.09% | 15.07% |
| Price to Book | 4.22 | 6.49 |
Valuation Metrics
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 5.97 | 2.87 |
| P E (x) | 12.06 | 25.07 |
| Promoter Holding | 95.49% | 69.52% |
IPO Objects of the Issue
| Objective | Estimated Amount (₹ Crore) |
|---|---|
| Working Capital Funding | 10.00 |
| Investment in Striders FZ LLC | 4.50 |
| Investment in UAE Subsidiary | 6.50 |
| Repayment of Loans | 3.00 |
| General Corporate Purposes | Balance |
| Total | 24.00 |
Industry Outlook
• Rising organised toy retail penetration in India
• Increasing global brand licensing opportunities
• Expansion of e commerce driven toy sales
• Government focus on domestic toy manufacturing
• Growing demand for branded kids merchandise
IPO Review
As per available market commentary, the company has shown growth in revenue and profitability over reported periods. However, recent consolidated performance suggests moderation in momentum.
Based on current financials and valuation metrics, the issue appears aggressively priced. Investors may carefully evaluate risk factors and financial consistency before applying.
Conclusion
Striders Impex Limited operates in the growing toys and kids merchandise segment with a licensing driven and asset light business model. The IPO proceeds are expected to strengthen working capital, support overseas expansion, and reduce debt.
While the sector offers growth opportunities, investors should assess valuation, financial stability and execution risks before making an investment decision.
