Sati Poly Plast IPO: Check Important details before applying

Sati Poly Plast has come up with an offering of a public issue. This Initial Public Offering (IPO) will consist of a fresh issue of 1,335,000 equity shares. The total aggregated size of the offer is 1,335,000 Equity shares. This new IPO is being made through a book-built issue type with a reservation of not less than 50% of the net issue being offered to qualified institutional buyers, retail investors being offered not less than 35% of the net issue, and not less than 15% of the net issue is reserved for HNI category. This IPO opens for subscription from July 12, 2024, till July 16, 2024, whereas the listing date is decided on July 22, 2024, and refund initiation for those who will not get allotted the share is on June 19, 2024. However, keep in mind that the public offering is proposed to be listed on the NSE exchange on an SME segment.

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About Sati Poly Plast Limited

Sati Poly Plast Limited was incorporated in July 1999. The company manufactures flexible packaging materials that have a multitude of functions for various industries. Sati Poly Plast consists of two manufacturing units located at Gautam Budh Nagar, Noida, each with a production capacity of 540 tons per month. The company increased its installed capacity from 250 tons to 500 tons per month from 2018 to 2019. Sati Poly Plast sells its products in a significant number of states, covering Assam, Bihar, Chattisgarh, Dadra and Nagar Haveli, Daman and Diu, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Puducherry, Punjab, and Rajasthan. Some of their known customers or clients are Pidilite, Adani Wilmar, and JVL. The company has 135 employees as of March 31, 2024.

Primary Objectives of Public Issue

The Company intends to use the Net Proceeds from the Fresh Offer to support various aspects of its operations and growth. These include funding the company's working capital requirements, as well as general corporate purposes. This allocation of funds aims to enhance the company's operational efficiency and facilitate its strategic objectives.

Financial Performance of Sati Poly Plast Limited (Amount in Rs Lakhs)

The company's revenue was reported to be Rs 179.41 Crore for the year ended March 2024, which shows a decrease of -6.05%. The profit after tax improved to Rs 3.29 Crore, marking an increase of 6.39% for the year ended March 2024.

Essential Details of the Sati Poly Plast Public Issue 2024

Sati Poly Plast IPO Tentative Timeline  

Reservation of Sati Poly Plast IPO

Lot Size of Sati Poly Plast IPO

What is the change in promoter holding for Sati Poly Plast before and after the IPO?

The promoters of Sati Poly Plast IPO are Balmukund Jhunjhunwala, Anita Jhunjhunwala, Aditya Jhunjhunwala, Keshav Jhunjhunwala and Balmukund Jhunjhunwala HUF. The promoters collectively held 86.30% of the company's shares. However, post-IPO, the change in their combined shareholding is not yet disclosed.

Lead Manager(s) of Sati Poly Plast IPO 2024

The lead manager of Sati Poly Plast IPO is Beeline Capital Advisors Private Limited.  

How to Apply for Sati Poly Plast IPO 

The public issue will be open for subscription in a few days. You can click here to apply for the Sati Poly Plast IPO with Bigul.

How to Check the Allotment Status of Sati Poly Plast IPO 2024  

Link Intime India Private Limited is the registrar for Sati Poly Plast IPO. You can check your allotment status by clicking here.

FAQs   

1.  When is the IPO scheduled to open and close? 

Sati Poly Plast IPO is scheduled to open for subscription from July 12, 2024, till July 16, 2024.  

2.  What will be the price band for the IPO?   

The Sati Poly Plast IPO price band is from Rs 123 to Rs 130 per share.  

3.  What are the main objectives of this IPO?   

The Company intends to use the Net Proceeds from the Fresh Offer to support various aspects of its operations and growth. These include funding the company's working capital requirements, and general corporate purposes. This allocation of funds aims to enhance the company's operational efficiency and facilitate its strategic objectives.

4.   How has Sati Poly Plast Limited performed financially?

The company’s revenue was reported to be Rs 179.41 Crore for the year ended March 2024, which shows a decrease of -6.05%. The profit after tax improved to Rs 3.29 Crore, marking an increase of 6.39% for the year ended March 2024.

5.  How can I apply for the Sati Poly Plast IPO?   

Once the public issue is open for subscription, you can click here to apply for the Sati Poly Plast IPO with Bigul.   

6.  How can I check the allotment status of the IPO? 

Link Intime India Private Limited is the registrar for Sati Poly Plast IPO. You can check your allotment status by clicking here.  

7.  Where will the IPO be listed?   

The IPO will be listed at the NSE SME segment (National Stock Exchange) (Small and Medium Enterprises).

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