Solve Plastic Products Limited IPO
NSE SMEListed On: Aug 21, 2024 at ₹ 102.0
₹ 218400 /2400 Shares
*Min Investment
13 Aug, 2024
Open Date16 Aug, 2024
Close Date19 Aug, 2024
Allotment Date21 Aug, 2024
Listing DateSolve Plastic Products IPO Issue Details
- Issue Price ₹91 per equity share
- Face Value ₹10 Per Equity Share
- Total Issue Size 13,02,000 shares(aggregating up to ₹11.85 crore)
- Fresh Share 13,02,000 shares(aggregating up to ₹11.85 crore)
- Listing at NSE SME
- List Price 102.0
- Listing Date 2024-08-21
- Lead Manager Finshore Management Services Limited
- Registrar Integrated Registry Management Services Private Limited
Market Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1200 | ₹1,09,200 |
| Retail(max) | 1 | 1200 | ₹1,09,200 |
| NII (min) | 2 | 2,400 | ₹2,18,400 |
Solve Plastic Products IPO Reservation
Solve Plastic Products IPO offers total 1,302,000 shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,618,000 (47.47%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | NA (NA%) | |
| Market Maker Shares Offered | 66,000 (5.07%) | |
| Retail Shares Offered | 618,000 (47.47%) | |
| Total Shares Offered | 1,302,000 (100%) |
Solve Plastic Products IPO Details
Solve Plastic Products Limited IPO is an SME IPO, priced at ₹91 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 13,02,000 equity shares, aggregating up to ₹11.85 crores..
The IPO bidding window is open from Aug 13, 2024 to Aug 16, 2024. The allotment is expected to be finalized on Aug 19, 2024, and the tentative listing date is Aug 21, 2024.
The minimum lot size for Retail investors is 1200 shares, with a minimum investment of ₹1,09,200. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,18,400.
Finshore Management Services Limited is acting as the lead manager to the issue. The registrar of the IPO is Integrated Registry Management Services Private Limited, and Black Fox Financial Private Limited will act as the market maker for this issue.
Solve Plastic Products IPO Subscription Analysis And Details
| As on | QIB / NII | Retail | Total |
|---|---|---|---|
| Shares Offered / Reserved | 618,000 | 618,000 | 1,236,000 |
Day 1 13-08-24 06:00 PM | 0.42 x | 4.18 x | 2.30 x |
Day 2 14-08-24 06:00 PM | 1.86 x | 13.30 x | 7.58 x |
Day 3 16-08-24 06:00 PM | 19.58 x | 46.76 x | 33.17 x |
Solve Plastic Products Valuations
Solve Plastic Products Company Financials
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 2,211.53 | 1,874.27 | 1,822.99 |
| Revenue | 4,715.73 | 6,225.43 | 5,577.89 |
| Profit After Tax | 142.48 | 120.27 | -40.71 |
| Net Worth | 438.79 | 192.56 | 72.29 |
| Reserves & Surplus | 132.16 | -110.94 | -231.21 |
| Total Borrowing | 1,136.42 | 1,053.42 | 1,030.43 |
About Solve Plastic Products Company
Solve Plastic Products Limited was established in 1994. The company manufactures a full range of uPVC pipes (unplasticized polyvinyl chloride) and rigid PVC electrical conduits and sells them under the brand name BALCOPIPES.
The company has 3 manufacturing units in Kerala and 1 well-equipped manufacturing unit in Tamil Nadu. The products manufactured have been approved by various authorities including the Bureau of Indian Standards (BIS) and also from organizations like Central Public Works Department (CPWD) Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department of Kerala and Tamil Nadu and Tamil Nadu Housing Board. The company is distributing its products mainly in the state of Kerala.
The following are the company's product offerings:
Solvent cement
Water tank
Garden hoses
Rigid PVC electrical cables PVC pipes
The company has 165 employees on its rolls of which are the managing directors excluded.
Solve Plastic Products - Promoter(s)
Mr. Sudheer Kumar Balakrishnan Nair
Mr. Susil Balakrishnan Nair
Mr. Balakrishnan Nair
Pre Issue Share Holding : 90.22%
Post Issue Share Holding : 49.87%
Solve Plastic Products IPO - Issue Objectives
Funding Capital Expenditure towards the purchase of additional plant and machinery
To meet the Working Capital Requirements
To meet the Issue Expenses
General Corporate Purposes
Solve Plastic Products IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Solve Plastic Products Limited | 4.66 | N/A | 14.31 | 19.52 | 32.47 | 6.36 | Standalone |
| Captain Pipes Ltd | 0.27 | N/A | 1.73 | 67.81 | 15.61 | 10.58 | Standalone |
| Rungta Irrigation Ltd | 4.47 | N/A | 43.6 | 22.34 | 6.5 | 2.29 | Standalone |
| Dutron Polymers Ltd. | 4.08 | N/A | 44.05 | 42.97 | 9.26 | 3.98 | Standalone |
| Aik Pipes And Polymers Ltd | 6.69 | N/A | 34.46 | 24.12 | 15.56 | 4.68 | Standalone |
Notes:
- Considering the nature and size of the business of the Company, the peers may not be exactly comparable. Hence, a strict comparison is not possible. However, the above companies have been included for broader comparison.
- The above information is based on a fully completed financial year ended on March 31, 2024, on a Restated basis.
- Source for Peer Companies: Annual Reports (figures as on March 31, 2024).
Contact Details
Solve Plastic Products
Door No XIII/690/ABC, Tholicode, Punalur, Kollam - 691333
+91 99956 31001
Registrar Contact Details
Integrated Registry Management Services Private Limited
044 - 28140801 to 28140803
Solve Plastic Products IPO - FAQs
Ans. Solve Plastic Products Limited IPO is a SME IPO. The issue is priced at ₹91 per equity share. The minimum order quantity is 1200 Shares. The IPO opens on Aug 13, 2024, and closes on Aug 16, 2024. Integrated Registry Management Services Private Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Ans. The Solve Plastic Products Limited IPO opens on Aug 13, 2024 and closes on Aug 16, 2024.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of Solve Plastic Products Limited IPO is Fresh Issue of 1,302,000 shares (aggregating up to ₹11.85 Cr).
Ans. The Solve Plastic Products Limited IPO price band is set between ₹91 per equity share.
Ans. To apply for Solve Plastic Products Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Solve Plastic Products Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Solve Plastic Products Limited IPO is Aug 19, 2024.
Ans. The Solve Plastic Products Limited IPO will be listed on Aug 21, 2024.
Ans. Follow the steps to check the Solve Plastic Products Limited IPO allotment status online.
