Solve Plastic Products Limited IPO Overview
Solve Plastic Products IPO is a fixed price issue of Rs 11.85 crores. The issue comprises of fresh issue of 13.02 lakh shares and an offer for sale worth Rs 0.00 crore.
Solve Plastic Products IPO opens for subscription on August 13, 2024 and closes on August 16, 2024. The allotment for the Solve Plastic Products IPO is expected to be finalized on Monday, August 19, 2024. Solve Plastic Products IPO will list on NSE SME with a tentative listing date fixed as Wednesday, August 21, 2024.
Solve Plastic Products IPO price is ₹91 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹109,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹218,400.
Finshore Management Services Limited is the book-running lead manager of the Solve Plastic Products IPO, while Integrated Registry Management Services Private Limited is the registrar for the issue. The market maker for Solve Plastic Products IPO is Black Fox Financial.
Solve Plastic Products Limited IPO Important dates
Solve Plastic Products IPO opens on August 13, 2024, and closes on August 16, 2024.
| IPO Open Date | Tuesday, August 13, 2024 |
| IPO Close Date | Friday, August 16, 2024 |
| Basis of Allotment | Monday, August 19, 2024 |
| Initiation of Refunds | Tuesday, August 20, 2024 |
| The credit of Shares to Demat | Tuesday, August 20, 2024 |
| Listing Date | Wednesday, August 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 16, 2024 |
Solve Plastic Products Limited Financial Performance
Solve Plastic Products Limited’s revenue decreased by -24.25% and profit after tax (PAT) rose by 18.47% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹ 22.12 Cr | ₹ 18.74 Cr | ₹ 18.23 Cr |
| Revenue | ₹ 47.16 Cr | ₹ 62.25 Cr | ₹ 55.78 Cr |
| Profit After Tax | ₹ 1.42 Cr | ₹ 1.20 Cr | ₹ -0.41 Cr |
| Net Worth | ₹ 4.39 Cr | ₹ 1.93 Cr | ₹ 72.29 Cr |
| Reserves and Surplus | ₹ 1.32 Cr | ₹ -1.11 Cr | ₹ -2.31 Cr |
| Total Borrowing | ₹ 11.36 Cr | ₹ 10.53 Cr | ₹ 10.30 Cr |
Solve Plastic Products Limited Key Performance Indicator
The market capitalization of Solve Plastic Products IPO is Rs 39.75 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| Debt/Equity | 0.23 |
| RoNW | 15.56% |
| P/BV | 6.36 |
| PAT Margin (%) | 9.13 |
Solve Plastic Products IPO Objectives
The company intends to utilize the funding for the following 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 Limited IPO Details
| IPO Date | August 13, 2024 to August 16, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹91 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,302,000 shares (aggregating up to ₹11.85 Cr) |
| Fresh Issue | 1,302,000 shares (aggregating up to ₹11.85 Cr) |
| Offer for Sale | [.] shares of ₹10 (aggregating up to ₹0.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share Holding Pre-Issue | 3,066,250 shares |
| Share Holding Post-Issue | 4,368,250 shares |
| Market Maker Portion | 66,000 shares |
| Market Maker | Black Fox Financial |
Solve Plastic Products Limited IPO GMP Details
Solve Plastic Products SME IPO last GMP is ₹0, last updated Aug 20th 2024 10:25 AM. With the price band of 91.00, Solve Plastic Products SME IPO’s estimated listing price is ₹91 (cap price + today’s GMP).The expected percentage gain/loss per share is 0.00%.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 20-08-2024 | 91.00 | ₹0  |
— | ₹91 (0%) | 20-Aug-2024 10:25 |
| 19-08-2024 Allotment | 91.00 | ₹0 |
— | ₹91 (0%) | 19-Aug-2024 23:32 |
| 18-08-2024 | 91.00 | ₹0 |
— | ₹91 (0%) | 18-Aug-2024 23:28 |
| 17-08-2024 | 91.00 | ₹0 |
— | ₹91 (0%) | 17-Aug-2024 23:28 |
| 16-08-2024 Close | 91.00 | ₹0 |
— | ₹91 (0%) | 16-Aug-2024 23:30 |
| 15-08-2024 | 91.00 | ₹0 |
— | ₹91 (0%) | 15-Aug-2024 23:25 |
| 14-08-2024 | 91.00 | ₹0 |
— | ₹91 (0%) | 14-Aug-2024 23:29 |
| 13-08-2024 Open | 91.00 | ₹0 |
— | ₹91 (0%) | 13-Aug-2024 23:25 |
| 12-08-2024 | 91.00 | ₹0 |
— | ₹91 (0%) | 12-Aug-2024 23:32 |
Solve Plastic Products Limited IPO subscription status
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Solve Plastic Products IPO subscribed 34.23 times. The public issue subscribed 46.76 times in the retail category, and 19.47 times in the Other category by August 16, 2024.
| Investor Category | Subscription (times) | Shares Offered | Shares Bid for | Total Amount (Rs Cr.)* |
|---|---|---|---|---|
| Others | 19.47 | 618,000 | 1,20,34,800 | 109.52 |
| Retail Investors | 46.76 | 618,000 | 2,88,96,000 | 262.95 |
| Total * | 34.23 | 1,236,000 | 4,23,03,600 | 384.96 |
Total Application: 24,080 (46.76 times)
Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range.
* Market Maker portion of 66,000 equity shares not included.
Solve Plastic Products IPO (Day-wise) Subscription Details (times)
| Date | Other | Retail | Total |
|---|---|---|---|
| Day 1 August 13, 2024 |
0.42 | 4.18 | 2.30 |
| Day 2 August 14, 2024 |
1.86 | 13.30 | 7.58 |
| Day 3 August 16, 2024 |
19.47 | 46.76 | 34.23 |
Solve Plastic Products Limited IPO Allotment status
Solve Plastic Products IPO allotment is expected on August 19, 2024.
Solve Plastic Products IPO allotment status is not available at this time. Solve Plastic Products IPO – The allotment status will be available once the basis of the allotment is finalized. Please revisit us to check the latest updates for Solve Plastic Products Limited’s IPO allotment status.
To check Solve Plastic Products IPO allotment status, follow the steps below:
- Click on the allotment status check button below.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Solve Plastic Products IPO Allotment Status
When you secure the allotment, you will receive the credit for equivalent shares in your Demat account.
If you have any concerns or queries about the allotment status, contact Integrated Registry Management Services Private Limited either by phone or email. Investors can call on 044 – 28140801 to 28140803 or send an email with all relevant details to smeipo@integratedindia.in.
About Solve Plastic Products Limited
Founded in 1994, Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized polyvinyl chloride) and Rigid PVC electrical conduits and markets 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 are approved by various authorities like the Bureau of Indian Standards (BIS) and also by organizations like the Central Public Works Department (CPWD) of Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department (PWD) of Kerala and Tamil Nadu and Tamil Nadu Housing Board. The company distributes its products mainly in the state of Kerala.
The company’s product portfolio includes:
- Solvent cement
- Water tank
- Garden hoses
- Rigid PVC electrical cables PVC pipes
The company has a total of 165 employees (excluding the managing directors).
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