Solve Plastic Products IPO: Things To Know

• Solve Plastic Products IPO is a fixed price issue of Rs 11.85 crores.
• This upcoming IPO bidding opens on August 13 and closes on August 16, 2024.
• Solve Plastic Products SME IPO price is set at Rs 91 per share.
• The minimum investment required is Rs 1,09,200.
  

Solve Plastic Products IPO: Synopsis

Solve Plastic Products IPO is open for subscription starting Tuesday, August 13, 2024, and closing on Friday, August 16, 2024. This upcoming IPO's price is Rs 91 per share. The minimum lot size set for the retail category is 1200  shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. 

The minimum investment required for retail category investors is Rs 1,09,200 (91 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,18,400 (91 x 2400 shares). 

Solve Plastic Products IPO is a book-built issue of Rs 11.85 crores. This upcoming IPO’s fresh issue of 13.02 lakh equity shares, also the OFS is present. The allotment for this new IPO is expected to be finalised on Monday, August 19, 2024.

Solve Plastic Products IPO will be listed on NSE SME on Wednesday, August 21, 2024. Finshore Management Services Limited is the book-running lead manager, Integrated Registry Management Services Private Limited and Black Fox Financial is the market maker for this IPO.

Also Read | Broach Lifecare Hospital IPO: Key highlights of upcoming IPO

Solve Plastic Products IPO: About the Company

Solve Plastic Products Limited was founded in 1994. It manufactures a comprehensive range of uPVC pipes and Rigid PVC electrical conduits and markets them under the brand name BALCOPIPES. The company’s product portfolio includes solvent cement, water tanks, garden hoses, Rigid PVC electrical cables, and PVC pipes.   

Solve Plastic has three manufacturing units in Kerala and one well-equipped manufacturing unit in Tamil Nadu. The products manufactured are approved by various authorities like Bureau of Indian Standards and also by organisations like the Central Public Works Department of Chennai and Kochi, Military Engineer Services, Integral Coach Factory, Public Works Department of Kerala and Tamil Nadu and Tamil Nadu Housing Board. The company distributes its products mainly in the state of Kerala. They had a team of 165 employees. 

Solve Plastic Products IPO: Objectives

The money received from this IPO issue will be used to meet the capital requirements for the purchase of additional plant and machinery. The remaining funds will be used to meet the company's day-to-day capital needs. The funds will also be used to meet the issue expenses and fulfill general corporate purposes.  

Solve Plastic Products IPO: Other Important Details

Time-Table of Solve Plastic Products IPO

Solve Plastic Products IPO: Financial Metrics (Amt in Rs Lakhs)

Solve Plastic Products posted revenue of Rs 4,715.73 lakhs and net profit of Rs 142.48 lakhs for the period ending on 31 Mar 2024. The company’s revenue decreased by 24.25% and net profit increased by 18.47% between the FY ending on 31 Mar 2024 and 31 Mar 2023. 

Minimum Investment: Lot Size Details 

Promoters of Solve Plastic Products Limited and Their Holdings

The promoters of Solve Plastic Products are Sudheer Kumar Balakrishnan Nair, Susil Balakrishnan Nair, and Balakrishnan Nair. The promoters' shareholdings before the IPO were 90.22%, however after the IPO, shareholdings will decline to 49.87%. 

Solve Plastic Products: Strength of Company

1.     Solve Plastic Products manufactures a comprehensive range of uPVC pipes.

2.     The company’s financials are on an improving track. PAT turned positive, and the margin improved to 9.13%. 

3.     Solve Plastic Products’s debt-equity ratio stands at 0.23.

FAQs

1. What are the details of the Solve Plastic Products IPO?

Solve Plastic Products IPO is a book-built issue of Rs 11.85 crores. This upcoming IPO’s fresh issue of 13.02 lakh equity shares, also the OFS is present. The allotment for this new IPO is expected to be finalised on Monday, August 19, 2024.

2. Who are the lead managers for the Solve Plastic Products IPO?

Finshore Management Services Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of the Integrated Registry in this IPO?

Integrated Registry Management Services Private Limited is the registrar for Solve Plastic Products Limited, handling the IPO's administrative aspects.

4. How can I apply for the Solve Plastic Products IPO?

The public subscription of this new IPO will open on August 13, 2024. Click here to initiate the application process. 

5. How will the net proceeds from the IPO be utilised?

The money received from this IPO issue will be used for the capital requirements toward the purchase of additional plant and machinery. The remaining will be utilised in meeting the day-to-day capital needs of the company.

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

Investors who applied can check the allotment status of the Solve Plastic Products Limited IPO by visiting here. For further updates follow Bigul. 

Also Read | Positron Energy IPO: Key highlights of upcoming IPO