Solve Plastic Products Limited IPO Detail
Founded in 1994, Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized polyvinyl chloride) and Rigid PVC electrical conduits and markets them under the brand name "BALCOPIPES"
The company has 3 manufacturing units in Kerala and 1 well-equipped manufacturing unit in Tamil Nadu. The products manufactured are approved by various authorities like Bureau of Indian Standards (BIS) and also by organizations like the Central Public Works Department (CPWD) of Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department (PWD) of Kerala and Tamil Nadu and Tamil Nadu Housing Board. The company distributes its products mainly in the state of Kerala.
The company's product portfolio includes:
- Solvent cement
- Water tank
- Garden hoses
- Rigid PVC electrical cables PVC pipes
The company has a total of 165 employees (excluding the managing directors).
Company Promoters
Mr. Sudheer Kumar Balakrishnan Nair, Mr. Susil Balakrishnan Nair, and Mr. Balakrishnan Nair are the promoters of the company.IPO Details
| IPO Opening Date | Aug 13, 2024 |
| IPO Closing Date | Aug 16, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹91 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹11.85 Cr |
| Fresh Issue | ₹11.85 Cr |
| Offer for Sale | - |
| Retail Portion | 47.47% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 0.42x | 4.18x | 2.30x |
| Day 2 | 0.00x | 0.00x | 0.00x | 1.86x | 13.30x | 7.58x |
| Day 3 | 0.00x | 0.00x | 0.00x | 1.86x | 13.30x | 7.58x |
| Day 4 | 0.00x | 0.00x | 0.00x | 19.47x | 46.76x | 34.23x |
IPO Tentative Timetable
The Solve Plastic Products Limited IPO open date is Aug 13, 2024, and the close date is Aug 16, 2024. The issue may list on Aug 21, 2024.
| IPO Open Date | Aug 13, 2024 |
| IPO Close Date | Aug 16, 2024 |
| Basis of Allotment Date | Aug 19, 2024 |
| Initiation of Refunds | Aug 20, 2024 |
| Credit of Shares to Demat Account | Aug 20, 2024 |
| IPO Listing Date | Aug 21, 2024 |
IPO Lot Size
The Solve Plastic Products Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹109200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹109200 |
| Maximum | 1 | 1200 | ₹109200 |
IPO Promoter Holding
| Pre Issue Share Holding | 90.22% |
| Post Issue Share Holding | 49.87% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-24 | 2211.53 | 4715.73 | 142.48 |
| 31-Mar-23 | 1874.27 | 6225.43 | 120.27 |
| 31-Mar-22 | 1822.99 | 5577.89 | -40.71 |
Objects of the Issue:
The company intends to utilize the funding for the following objectives:
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- To meet the Working Capital Requirements
- To meet the Issue Expenses
- General Corporate Purposes
Solve Plastic Products Limited IPO Registrar:
Integrated Registry Management Services Private Limited
Solve Plastic Products Limited IPO Lead Manager(s):
Finshore Management Services Limited
Company Contact Information:
Solve Plastic Products Limited
Door No XIII/690/ABC, Tholicode, Punalur
Kollam
Kollam
