Polysil Irrigation Systems Limited IPO Detail
Polysil Irrigation Systems Limited was established in 1985 and manufactures and distributes HDPE pipes, fittings, and micro irrigation systems, such as drip irrigation systems and sprinkler irrigation systems as well as their components, accessories, and related products under the brand name Polysil.
The company's product range includes HDPE pipes, pipe fittings, and irrigation equipment, including disc filters, screen filters, hydrocyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanical), fertilizer tanks, digital controllers, pressure gages, etc.
Polysil Irrigation Systems operates in Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. The company sells its products through institutional markets and the open market. As of July 31, 2023, the company sold its products through 8 distributors and around 425 dealers in India.
The company's manufacturing unit is located in Vadodara, Gujarat, and covers an area of 100,000 square meters.
As of March 31, 2023, the company had 82 people, including skilled and unskilled workers, administrative staff, and the management team.
Company Promoters
Prafulbhai RadadiaIPO Details
| IPO Opening Date | Feb 08, 2024 |
| IPO Closing Date | Feb 13, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹54 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹17.44 Cr |
| Fresh Issue | ₹7.80 Cr |
| Offer for Sale | ₹9.64 Cr |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.21x | 1.51x | 0.86x | |
| Day 2 | - | - | 0.21x | 1.51x | 0.86x | |
| Day 3 | - | - | 0.88x | 7.36x | 4.12x | |
| Day 4 | - | - | 2.12x | 11.62x | 6.88x |
IPO Tentative Timetable
The Polysil Irrigation Systems Limited IPO open date is Feb 08, 2024, and the close date is Feb 13, 2024. The issue may list on Feb 16, 2024.
| IPO Open Date | Feb 08, 2024 |
| IPO Close Date | Feb 13, 2024 |
| Basis of Allotment Date | Feb 14, 2024 |
| Initiation of Refunds | Feb 15, 2024 |
| Credit of Shares to Demat Account | Feb 15, 2024 |
| IPO Listing Date | Feb 16, 2024 |
IPO Lot Size
The Polysil Irrigation Systems Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹108000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹108000 |
| Maximum | 1 | 2000 | ₹108000 |
IPO Promoter Holding
| Pre Issue Share Holding | 33.79% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4178.47 | 5471.58 | 64.81 |
| 31-Mar-22 | 4616.80 | 3767.21 | 33.75 |
| 31-Mar-23 | 5531.46 | 4392.49 | 113.53 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from the Offer towards the following objects:
- Funding our Working Capital Requirements; and
- General Corporate Purpose.
Polysil Irrigation Systems Limited IPO Registrar:
Bigshare Services Pvt Ltd
Polysil Irrigation Systems Limited IPO Lead Manager(s):
Fedex Securities Pvt Ltd
Company Contact Information:
Polysil Irrigation Systems Limited
Survey No- 340/1, Beside Hystuff Steel,
At Post Raniya, Taluka Savli,
District Vadodara - 391780
