Solve Plastic Products Limited

13 Aug 2024 - 16 Aug 2024 Individual Category SME NSE

Min Investment

₹109200

Price Band

₹91

Issue Size

13.02 lakhs
Equity Shares

Lot Size

1200

IPO Dates
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13 Aug 2024

Open Date

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16 Aug 2024

Close Date

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19 Aug 2024

Allotment Date

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21 Aug 2024

Listing Date

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.

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About Solve Plastic Products Limited

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.

Founded

1994

Managing Director

Sudheer Kumar Balakrishnan Nair, Susil Balakrishnan Nair, and Balakrishnan Nair

Parent Organization

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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