ScaleSauce SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 12 Dec 2025 | ₹80 | +74.77% | ₹73,000 | ₹187 | ₹96,000 |
| 11 Dec 2025 | ₹80 | +74.77% | ₹73,000 | ₹187 | ₹96,000 |
| 10 Dec 2025 | ₹22 | +20.56% | ₹20,100 | ₹129 | ₹26,400 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- Listing date
- 12 Dec 2025
- Face value
- ₹10 per share
- Issue price
- ₹107 per share
- Lot size
- 1,200 shares
- Total issue size
- ₹40.21 Cr
- Market cap at offer price
- ₹152 Cr
- Promoter holding
- 80.19% → 58.93% pre-issue → post-issue
- ISIN
- INE433T01015
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- 3Dimension Capital Services Ltd.
- Registered office
- Virwani Indl Estate, Shop No.A-101, Opp.Western ExpHighway, Goregaon, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 10,69,200 | — | — |
| Market maker | 1,88,400 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹107
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,28,400 |
| S-HNI (min) | 2 | 2,400 | ₹2,56,800 |
| S-HNI (max) | 7 | 8,400 | ₹8,98,800 |
| B-HNI (min) | 8 | 9,600 | ₹10,27,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹107 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 10.35 | 7.12 |
| P/E (×) | 10.34 | 15.03 |
| Price to book (×) | 0.13 | — |
| Market cap | — | ₹152 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 33.13%
- ROCE
- 40.49%
- Debt / equity
- 0.44
- PAT margin
- 19.75%
- EBITDA margin
- 30.86%
- NAV per share
- ₹835.88
- Price to book
- 0.13
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About ScaleSauce SME
Encompass Design India Limited was incorporated on March 09, 2010 as Encompass Design India Private Limited, a trading enterprise that commenced the trading of fabrics, and was converted into a public limited company pursuant to a special resolution dated March 31, 2025 (fresh certificate of incorporation dated May 05, 2025). Based in Goregaon (East), Mumbai with a manufacturing unit at Bhiwandi, Thane, the company operates under the brand name 'ScaleSauce', building and scaling digital-first consumer brands for the modern urban Indian consumer. Its portfolio comprises Stoa Paris and QuirkLoom in home & living (bed sheets, curtains, comforters, table linens, pillow covers) and Small Batch in gourmet, chef-made small-batch sauces, sold through online marketplaces such as Amazon, Myntra and Nykaa Fashion, its own D2C channels and gated markets. Alongside manufacturing, the company trades agro-based products, cotton and fabrics, and offers end-to-end digital and e-commerce support services (marketing, technology and operations) to D2C businesses and corporate clients. Revenue from operations grew to ₹5,464.94 lakhs in FY2025 (PAT ₹1,079.38 lakhs) from ₹4,004.18 lakhs in FY2024 and ₹2,162.47 lakhs in FY2023. The company is promoted by Amit Rajendraprasad Dalmia, Susmita Amit Dalmia, Ruman Kailash Agarwal and Yogendra Vashishta, who together hold 80.19% pre-issue, and proposes to list on the EMERGE Platform of NSE via a 100% fresh issue.
Company Analysis
from DRHPEncompass Design India Limited (EDIL), operating under the brand name 'ScaleSauce', builds and scales consumer brands in India across the home & living and food segments, while also trading agro-based products, cotton and fabrics and providing digital and e-commerce support services.
Encompass Design India Limited was incorporated on March 09, 2010 as Encompass Design India Private Limited, a trading enterprise that commenced the trading of fabrics, and was converted into a public limited company pursuant to a special resolution dated March 31, 2025 (fresh certificate of incorporation dated May 05, 2025). Based in Goregaon (East), Mumbai with a manufacturing unit at Bhiwandi, Thane, the company operates under the brand name 'ScaleSauce', building and scaling digital-first consumer brands for the modern urban Indian consumer. Its portfolio comprises Stoa Paris and QuirkLoom in home & living (bed sheets, curtains, comforters, table linens, pillow covers) and Small Batch in gourmet, chef-made small-batch sauces, sold through online marketplaces such as Amazon, Myntra and Nykaa Fashion, its own D2C channels and gated markets. Alongside manufacturing, the company trades agro-based products, cotton and fabrics, and offers end-to-end digital and e-commerce support services (marketing, technology and operations) to D2C businesses and corporate clients. Revenue from operations grew to ₹5,464.94 lakhs in FY2025 (PAT ₹1,079.38 lakhs) from ₹4,004.18 lakhs in FY2024 and ₹2,162.47 lakhs in FY2023. The company is promoted by Amit Rajendraprasad Dalmia, Susmita Amit Dalmia, Ruman Kailash Agarwal and Yogendra Vashishta, who together hold 80.19% pre-issue, and proposes to list on the EMERGE Platform of NSE via a 100% fresh issue.
Objects of the Issue
- Funding capital expenditure requirements of our company towards purchasing office with furniture ₹ 979.00 lakhs p.93
- Funding capital expenditure requirements of our Company towards purchase of office premise for establishing an in-house studio ₹ 899.00 lakhs p.93
- Repayment/prepayment of certain borrowings availed by our Company ₹ 1,100.00 lakhs p.93
- General corporate purposes p.93
Issue Structure
- Total Issue
- Up to 37,58,400 equity shares of face value of ₹ 10 each aggregating up to ₹ [●] lakhs
- Fresh Issue
- Up to 37,58,400 Equity Shares of face value of ₹ 10/- each fully paid up of our company at a price of ₹ [●] per Equity share aggregating up to ₹ [●] lakhs
- Offer for Sale
- NIL
- Face Value
- ₹ 10/- each
Business Model
EDIL earns revenue from three streams: (1) manufacturing and sale of its own-brand home & living products (Stoa Paris, QuirkLoom) and gourmet sauces (Small Batch), primarily through third-party online marketplaces such as Amazon and Myntra, its own D2C websites and gated markets; (2) trading of agro-based products, cotton and fabrics, which contributed ₹2,791.87 lakhs (51.08%) of FY2025 revenue from operations; and (3) digital and e-commerce support services — end-to-end solutions across marketing, technology and operations for D2C businesses and corporate clients — which generated ₹510.23 lakhs (9.34%) of FY2025 revenue.
Business Segments
SWOT Analysis
- • Strong consumer brands with proprietary innovation (UltraSatin fabric; premium small-batch sauces) supporting premium pricing and loyalty(p.130)
- • Agile, asset-light scalable model: in-house design/production for home & living, cloud-kitchen production for food(p.130)
- • Experienced promoter leadership and cross-brand operational synergies (shared infrastructure, supplier networks, distribution)(p.130)
- • Technology, data analytics and AI capabilities embedded in e-commerce operations, inventory management and marketing(p.130)
- • Rapid financial turnaround and growth: revenue up to ₹5,464.94 lakhs and PAT of ₹1,079.38 lakhs in FY25 from a loss in FY23(p.128)
- • Customer concentration – top 10 customers contributed 66.53% of FY25 revenue(p.32)
- • Majority of revenue still from low-margin trading activity (51.08% of FY25 revenue)(p.29)
- • Working-capital-intensive business – current assets were 64.63% of total assets in FY25(p.29)
- • Supplier concentration with no long-term supply contracts (top 5 suppliers = 43.18% of FY25 cost of services and goods)(p.33)
- • Leverage and lender claims: charge over movable/immovable assets (secured loans ₹1,110.57 lakhs) plus ₹477.52 lakhs unsecured loans repayable on demand(p.37)
- • Single manufacturing unit (Bhiwandi & Thane) creates operational concentration risk(p.39)
- • High e-commerce sales returns (16.14% of e-commerce revenue in FY25)(p.39)
- • Dependence on third-party online marketplaces (Amazon, Myntra) whose commissions and policies are outside company control(p.37)
- • Indian e-commerce market projected to grow from US$125 bn (FY24) to US$345 bn by FY30 at 15% CAGR – direct tailwind for the company's digital-first brands(p.122)
- • Home textile industry tailwind – 8.9% CAGR expected during 2023-32(p.125)
- • International expansion underway – exports of Stoa Paris commenced in FY2025-26(p.132)
- • Channel expansion – preparing to launch offline channels alongside D2C sites, marketplaces and gated markets(p.131)
- • Structured, repeatable brand-building playbook targeting unmet needs of premium Indian consumers(p.130)
- • Continuous innovation and portfolio expansion using consumer insights and market research(p.131)
- • Raw material price/supply volatility – cost of raw material sold was 48.54% of FY25 revenue(p.33)
- • Tariff duties and international trade policy changes could hit export operations(p.37)
- • Intense competition from organized and unorganized players leading to pricing pressure and market-share loss(p.43)
- • Foreign exchange fluctuation risk on export/service revenues (especially USD)(p.41)
- • Regulatory changes or adverse implementation by Central/State governments could disrupt operations(p.49)
- • Global economic, political and social conditions beyond company control(p.50)
- • Third-party imitation/infringement of product designs eroding brand value(p.38)
- • Dependence on the extent and reliability of Indian infrastructure (ports, roads, power, logistics)(p.51)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Amit Rajendraprasad Dalmia | Promoter | 69.63% | — |
| Susmita Amit Dalmia | Promoter | 1.92% | — |
| Ruman Kailash Agarwal | Promoter | 4.32% | — |
| Yogendra Vashishta | Promoter | 4.32% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.