06-Feb-2024
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Polysil Irrigation Systems Limited IPO 2024 is open for subscription from Thursday, February 8, 2024 and will close on Tuesday, February 13, 2024. The price band is decided at Rs 54 per share. The minimum lot size of this application for the retail category is 2000 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 4000 shares. The minimum amount of investment required for retail category investors is Rs 1,08,000 (54 x 2000 shares). However for HNI category the minimum investment amount is required Rs 2,16,000 (54 x 4000 shares).
Polysil Irrigation Systems Limited IPO 2024 is a fixed price issue of Rs 17.44 crores. The issue is a combination of fresh issue and offer for sale. The fresh issue consists of 14.44 lakh equity shares amounting to Rs 7.80 crores and offer for sale consists of 17.85 equity shares amounting to Rs 9.64 crore. The allotment for this IPO is expected to be finalized on Wednesday, February 14, 2024. Polysil Irrigation Systems Limited IPO will list on NSE SME and listing date fixed on Friday, February 16, 2024. The book running lead manager of Alpex Solar Limited is Fedex Securities Private Limited. The registrar for this IPO is Bigshare Services Private Limited.
About Polysil Irrigation Systems Limited
Polysil Irrigation Systems Limited company was established in 1985 which is involved in manufacturing and distributing HDPE pipes, fittings and micro irrigation systems such as drip irrigation, sprinkler irrigation system as well as there components, accessories and related products under a brand name Polysil. Company is a fully integrated player within the Drip Irrigation and Sprinkler Irrigation sectors, with a significant presence in the Micro Irrigation Industry. Company has a Pan-India reach and employs over 700 people across geographies and cultures. The vision of Polysil Irrigation System is to be the Sathi of Farmer’s success. The mission is to become a Rs 500 crore turnover company by 2025. The core values are Farmer First, Innovation, Knowledge and simplicity. The company manufacturing unit is located in Vadodara, Gujarat and covers an area of 100,000 square meters.
Objective of Polysil Irrigation Systems IPO
The visible objective of the issue is to raise funds from the public and gain the benefits of listing. The net proceeds from the issue will be utilized to meet the requirements of the working capital. Other than this, the general corporate purposes like capital expenditure, acquisitions are also fulfilled.
Financial Performance of Polysil Irrigation Systems Limited
Company’s revenue increased by 16.6% and profit after tax increased by 236.39% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 5,531.46 | 4,616.80 | 4,178.47 |
| Revenue | 4,392.49 | 3,767.21 | 5,471.58 |
| Profit After Tax | 113.53 | 33.75 | 64.81 |
| Net Worth | 1,535.71 | 1,372.06 | 1,338.31 |
| Reserves and Surplus | 546 | 1,326.56 | 1,292.82 |
| Total Borrowing | 1,547.25 | 1,494.96 | 1,104.83 |
| Amt in Rs Lakhs |
Other Important Details of Polysil Irrigation Systems Limited IPO
| IPO Date | February 8, 2024 to February 13, 2024 |
| Listing Date | 16-Feb-24 |
| Face Value | Rs 10 per share |
| Price | Rs 54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,229,000 shares (amounting to Rs 17.44 Crore) |
| Fresh Issue | 1,444,000 shares (amounting to Rs 7.80 Crore) |
| Offer for Sale | 1,785,000 shares of Rs 10 (amounting to Rs 9.64 Crore) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 9,897,090 |
| Shareholding post issue | 11,341,090 |
Lot Size of Polysil Irrigation Systems Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | Rs 108,000 |
| Retail (Max) | 1 | 2000 | Rs 108,000 |
| HNI (Min) | 2 | 4,000 | Rs 216,000 |
IPO Reservation of Polysil Irrigation Systems Limited
| Investor Category | Shares Offered |
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Promoters of Polysil Irrigation Systems Limited and Their Holdings
The Promoters of the company are Bharatkumar Patel and Prafulbhai Radadia.
| Shareholding Pre Issue | 33.79% |
| Shareholding Post Issue |
Time-Table of Polysil Irrigation Systems Limited IPO 2024
| IPO Open Date | Thursday, February 8, 2024 |
| IPO Close Date | Tuesday, February 13, 2024 |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 13, 2024 |
Key Performance Indicator of Polysil Irrigation Systems Limited IPO 2024
The market capitalization of Polysil Irrigation Systems Limited is Rs 61.24 Crore.
| KPI | Values |
| ROE | 13.84% |
| ROCE | 12.81% |
| Debt/Equity | 1.01 |
| RoNW | 7.39% |
| P/BV | 3.48 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 1.15 | 1 |
| P/E (x) | 47.08 | 53.94 |
Lead Manager(s) of Polysil Irrigation Systems Limited IPO 2024
The lead manager for Polysil Irrigation Systems Limited IPO is Fedex Securities Private Limited.
How to Apply for Polysil Irrigation Systems Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Polysil Irrigation Systems Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Polysil Irrigation Systems Limited IPO 2024
The registrar for Polysil Irrigation Systems Limited IPO is Bigshare Services Private Limited. To check your allotment status, please click on this link below https://www.bigshareonline.com/ipo_Allotment.html
FAQs
- What is Polysil Irrigation Systems Limited IPO 2024?
Polysil Irrigation Systems Limited IPO 2024 is a fixed price issue of Rs 17.44 crores. The issue is a combination of fresh issue and offer for sale. The price band is decided at Rs 54 per share. The allotment for this IPO is expected to be finalized on Wednesday, February 14, 2024. Polysil Irrigation Systems Limited IPO will list on NSE SME and listing date fixed on Friday, February 16, 2024.
- Who are the lead managers for the Polysil Irrigation Systems Limited IPO 2024?
Fedex Securities Private Private Limited are appointed as the lead managers for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for the Polysil Irrigation Systems Limited handling the IPO’s administrative aspects.
- How can I apply for the Polysil Irrigation Systems Limited IPO 2024?
The public subscription of this IPO will open on February 8, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the issue will be utilized to meet the requirements of the working capital. Other than this, the general corporate purposes like capital expenditure, acquisitions are also fulfilled.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Polysil Irrigation Systems Limited IPO 2024 by visiting here https://www.bigshareonline.com/ipo_Allotment.html
- What is the financial performance of Polysil Irrigation Systems Limited?
Company’s revenue increased by 16.6% and profit after tax increased by 236.39% between the financial year ending with March 31, 2023 and March 31, 2022.