Fixed Price IPO | ₹12 Cr | Listed at NSE SME | Tue, Aug 13, 2024 - Fri, Aug 16, 2024
Solve Plastic Products IPO is a fixed price issue of ₹11.85 crores. The issue is entirely a fresh issue of 0.13 crore shares of ₹11.85 crore.
Solve Plastic Products IPO bidding started from Aug 13, 2024 and ended on Aug 16, 2024. The allotment for Solve Plastic Products IPO was finalized on Aug 19, 2024. The shares got listed on NSE SME on Aug 21, 2024.
Solve Plastic Products IPO price is ₹91 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,09,200 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,18,400.
Finshore Management Services Ltd. is the book running lead manager and Integrated Registry Management Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Black Fox Financial Pvt.Ltd..
Refer to Solve Plastic Products IPO RHP for detailed Information.
IPO Open
Tue, Aug 13, 2024
IPO Close
Fri, Aug 16, 2024
Issue Price
₹91 per share
Market Cap (Pre-IPO)
₹39.75 Cr
| IPO Date | 13 to 16 Aug, 2024 |
| Listed on | Wed, Aug 21, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹91 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 13,02,000 shares (agg. up to ₹12 Cr) |
| Reserved for Market Maker | 66,000 shares Black Fox Financial Pvt.Ltd. (agg. up to ₹0.6006 Cr) |
| Fresh Issue (Ex Market Maker) | 12,36,000 shares (agg. up to ₹11 Cr) |
| Net Offered to Public | 12,36,000 shares (agg. up to ₹11 Cr) |
| Share Holding Pre Issue | 30,66,250 shares |
| Share Holding Post Issue | 43,68,250 shares |
| NSE Symbol | BALCO |
| ISIN | INE0U0201016 |
Solve Plastic Products IPO comprises a total issue size of 13,02,000 shares. The net offer to the public is 12,36,000 shares, after excluding 66,000 shares allotted on a firm basis. Of the Net offer 6,18,000 (50.00%) allocated to NII 6,18,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 6,18,000 | 50.00% | 47.47% |
| Retail Shares Offered | 6,18,000 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 66,000 | 5.07% | |
| Total Shares Offered | 13,02,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,09,200 |
| Retail (Max) | 1 | 1,200 | ₹1,09,200 |
| HNI (Min) | 2 | 2,400 | ₹2,18,400 |
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:
The company has a total of 165 employees (excluding the managing directors).
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 22.12 | 18.74 | 18.23 |
| Total Income | 47.16 | 62.25 | 55.78 |
| Profit After Tax | 1.42 | 1.20 | -0.41 |
| NET Worth | 4.39 | 1.93 | 0.72 |
| Reserves and Surplus | 1.32 | -1.11 | -2.31 |
| Total Borrowing | 11.36 | 10.53 | 10.30 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Capital Expenditure towards purchase of additional plant and machinery | 5.53 |
| 2 | Working Capital Requirements | 3.83 |
| 3 | Issue Related Expenses | 1.62 |
| 4 | General Corporate Expenses | 0.88 |
| KPI | Mar 31, 2024 |
|---|---|
| Debt/Equity | 2.83 |
| RoNW | 32.47% |
| PAT Margin | 9.13% |
| Price to Book Value | 6.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.92 | 3.24 |
| P/E (x) | 23.2 | 28.12 |
| Promoter Holding | 90.22% | 63.33% |
| Market Cap | ₹39.75 Cr. |
The Solve Plastic Products IPO is subscribed 34.23 times on August 16, 2024 6:19:59 PM (Day 3). The public issue subscribed 46.76 times in the retail category, [.] times in the QIB category, and 19.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 19.47 | 6,18,000 | 1,20,34,800 |
| Retail | 46.76 | 6,18,000 | 2,88,96,000 |
| Total | 34.23 | 12,36,000 | 4,23,03,600 |
Total Application : 24,080
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees, Underwriting commission, including other intermediaries Fees, Printing and distribution of Issue Stationary | 0.70 |
| 2 | Regulators Including Stock Exchanges | 0.09 |
| 3 | Advertising and Marketing Expenses | 0.83 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹91.00 |
| Open | ₹102.00 |
| Low | ₹102.00 |
| High | ₹107.10 |
| Last Trade | ₹107.10 |
Integrated Registry Management Services Pvt.Ltd.
Lead Manager Reports
Solve Plastic Products IPO is a SME IPO of 13,02,000 equity shares of the face value of ₹10 aggregating up to ₹12 Crores. The issue is priced at ₹91 per share. The minimum order quantity is 1200.
The IPO opens on Tue, Aug 13, 2024, and closes on Fri, Aug 16, 2024.
Integrated Registry Management 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 Solve Plastic Products IPO using UPI as a payment gateway. Zerodha customers can apply in Solve Plastic Products IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Solve Plastic Products IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Solve Plastic Products IPO opens on Tue, Aug 13, 2024 and closes on Fri, Aug 16, 2024.
Solve Plastic Products IPO lot size is 1200, and the minimum amount required for application is ₹1,09,200.
You can apply in Solve Plastic Products 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 Solve Plastic Products IPO will be done on Monday, August 19, 2024, and the allotted shares will be credited to your demat account by Tue, Aug 20, 2024. Check the Solve Plastic Products IPO allotment status.
The Solve Plastic Products IPO listing date is on Wed, Aug 21, 2024.
