Fixed Price IPO | ₹18 Cr | Listed at NSE SME | Tue, May 7, 2024 - Fri, May 10, 2024
Silkflex Polymers IPO is a fixed price issue of ₹18.11 crores. The issue is entirely a fresh issue of 0.35 crore shares of ₹18.11 crore.
Silkflex Polymers IPO bidding started from May 7, 2024 and ended on May 10, 2024. The allotment for Silkflex Polymers IPO was finalized on May 13, 2024. The shares got listed on NSE SME on May 15, 2024.
Silkflex Polymers IPO price is ₹52 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,04,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,08,000.
Shreni Shares Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..
Refer to Silkflex Polymers IPO RHP for detailed Information.
IPO Open
Tue, May 7, 2024
IPO Close
Fri, May 10, 2024
Issue Price
₹52 per share
Market Cap (Pre-IPO)
₹60.36 Cr
| IPO Date | 7 to 10 May, 2024 |
| Listed on | Wed, May 15, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹52 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 34,82,000 shares (agg. up to ₹18 Cr) |
| Reserved for Market Maker | 1,78,000 shares Shreni Shares Ltd. (agg. up to ₹0.9256 Cr) |
| Fresh Issue (Ex Market Maker) | 33,04,000 shares (agg. up to ₹17 Cr) |
| Net Offered to Public | 33,04,000 shares (agg. up to ₹17 Cr) |
| Share Holding Pre Issue | 81,25,000 shares |
| Share Holding Post Issue | 1,16,07,000 shares |
| NSE Symbol | SILKFLEX |
| ISIN | INE0STN01015 |
Silkflex Polymers IPO comprises a total issue size of 34,82,000 shares. The net offer to the public is 33,04,000 shares, after excluding 1,78,000 shares allotted on a firm basis. Of the Net offer 16,52,000 (50.00%) allocated to NII 16,52,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 16,52,000 | 50.00% | 47.44% |
| Retail Shares Offered | 16,52,000 | 50.00% | 47.44% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,78,000 | 5.11% | |
| Total Shares Offered | 34,82,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,04,000 |
| Retail (Max) | 1 | 2,000 | ₹1,04,000 |
| HNI (Min) | 2 | 4,000 | ₹2,08,000 |
Incorporated on May 13, 2016, Silkflex Polymers India Limited trades textile printing inks and water-based wood coating polymers produced by Silkflex Polymers SDN BHD, a Malaysian brand.
The company offers 108 textile printing ink products and 51 wood coating polymer products.
As of May 1, 2024, the registered office of the Company is situated in the state of West Bengal. Additionally, the company has 5 branch offices across India, with one in each of the following states: Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab.
Silkflex Polymers India Limited sells products from Silkflex Polymers Sdn. Bhd. Malaysia, the leading manufacturer of garment printing ink in Malaysia. With a state-of-the-art thermal reactor, they have a capacity of 1000 MT per month.
The company sells its products in five Indian states - West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat.
As of December 31, 2023, the company has 28 permanent employees at its offices.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 34.46 | 23.75 | 19.69 | 13.14 |
| Total Income | 33.82 | 34.42 | 28.05 | 20.96 |
| Profit After Tax | 2.57 | 0.79 | 0.69 | 0.45 |
| NET Worth | 10.73 | 8.17 | 7.38 | 5.14 |
| Reserves and Surplus | 2.61 | 5.67 | 4.88 | 3.08 |
| Total Borrowing | 17.16 | 12.08 | 9.95 | 6.13 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Acquisition of land | 5.53 |
| 2 | Funding of capital expenditure requirements of the Company towards purchase of Plant and Machineries | 2.08 |
| 3 | Funding Working Capital Requirements of the Company | 4.68 |
| 4 | General corporate purposes | 4.11 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 23.91% |
| ROCE | 41.04% |
| Debt/Equity | 1.60 |
| RoNW | 23.91% |
| PAT Margin | 7.67% |
| Price to Book Value | 3.94 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.97 | 2.95 |
| P/E (x) | 53.76 | 17.64 |
| Promoter Holding | 99.84% | 69.89% |
| Market Cap | ₹60.36 Cr. |
The Silkflex Polymers IPO is subscribed 39.3 times on May 10, 2024 6:19:56 PM (Day 4). The public issue subscribed 35.97 times in the retail category, [.] times in the QIB category, and 36.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 36.59 | 16,52,000 | 6,04,54,000 |
| Retail | 35.97 | 16,52,000 | 5,94,22,000 |
| Total | 39.3 | 33,04,000 | 12,98,52,000 |
Total Application : 29,711
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees including Underwriting Commission | 0.72 |
| 2 | Brokerage, selling commission and upload fees | 0.00 |
| 3 | Registrar to the Issue | 0.02 |
| 4 | Legal Advisors | 0.02 |
| 5 | Advertising and marketing expenses | 0.02 |
| 6 | Regulators including stock exchanges | 0.04 |
| 7 | Printing and distribution of offer stationary | 0.01 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, consultancy, advisors, peer review auditors, etc.) | 0.89 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹52.00 |
| Open | ₹60.00 |
| Low | ₹57.00 |
| High | ₹63.00 |
| Last Trade | ₹58.70 |
Lead Manager Reports
Silkflex Polymers IPO is a SME IPO of 34,82,000 equity shares of the face value of ₹10 aggregating up to ₹18 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 2000.
The IPO opens on Tue, May 7, 2024, and closes on Fri, May 10, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Silkflex Polymers IPO using UPI as a payment gateway. Zerodha customers can apply in Silkflex Polymers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Silkflex Polymers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Silkflex Polymers IPO opens on Tue, May 7, 2024 and closes on Fri, May 10, 2024.
Silkflex Polymers IPO lot size is 2000, and the minimum amount required for application is ₹1,04,000.
You can apply in Silkflex Polymers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Silkflex Polymers IPO will be done on Monday, May 13, 2024, and the allotted shares will be credited to your demat account by Tue, May 14, 2024. Check the Silkflex Polymers IPO allotment status.
The Silkflex Polymers IPO listing date is on Wed, May 15, 2024.
