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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 ₹91.00 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). The minimum lot size investment for 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 Date | August 13, 2024 to August 16, 2024 |
| Listing Date | August 21, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹91 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 13,02,000 shares (aggregating up to ₹11.85 Cr) |
| Reserved for Market Maker | 66,000 shares Black Fox Financial Pvt.Ltd. (aggregating up to ₹0.6006 Cr) |
| Net Offered to Public | 12,36,000 shares (aggregating up to ₹11.25 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 30,66,250 shares |
| Share Holding Post Issue | 43,68,250 shares |
Solve Plastic Products IPO offers total 13,02,000 shares. Out of which 6,18,000 (47.47%) allocated to NII, 6,18,000 (47.47%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 66,000 (5.07%) |
| NII (HNI) Shares Offered | 6,18,000 (47.47%) |
| Retail Shares Offered | 6,18,000 (47.47%) |
| Total Shares Offered | 13,02,000 (100.00%) |
Solve Plastic Products IPO opens on August 13, 2024, and closes on August 16, 2024.
| IPO Open Date | Tue, Aug 13, 2024 |
| IPO Close Date | Fri, Aug 16, 2024 |
| Tentative Allotment | Mon, Aug 19, 2024 |
| Initiation of Refunds | Tue, Aug 20, 2024 |
| Credit of Shares to Demat | Tue, Aug 20, 2024 |
| Tentative Listing Date | Wed, Aug 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Aug 16, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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).
Solve Plastic Products Limited's revenue decreased by -24% and profit after tax (PAT) rose by 18% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,211.53 | 1,874.27 | 1,822.99 |
| Total Income | 4,715.73 | 6,225.43 | 5,577.89 |
| Profit After Tax | 142.48 | 120.27 | -40.71 |
| Net Worth | 438.79 | 192.56 | 72.29 |
| Reserves and Surplus | 132.16 | -110.94 | -231.21 |
| Total Borrowing | 1,136.42 | 1,053.42 | 1,030.43 |
| Amount in ₹ Lakhs | |||
The market capitalization of Solve Plastic Products IPO is ₹39.75 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| Debt/Equity | 2.83 |
| RoNW | 32.47% |
| PAT Margin | 9.13% |
| Price to Book Value | 6.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.92 | 3.24 |
| P/E (x) | 23.2 | 28.12 |
The company intends to utilize the funding for the following objectives:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It posted inconsistency in its top lines for the reported periods. Based on FY24 super earnings, the issue appears aggressively priced. Post-IPO, small equity base indicates longer gestation period. There is no harm in skipping this pricey and “High Risk/Low Return” bet. Read detail review...
| Listing Date | August 21, 2024 |
| BSE Script Code | |
| NSE Symbol | BALCO |
| ISIN | INE0U0201016 |
| Final Issue Price | ₹91 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹91.00 |
| Open | ₹102.00 |
| Low | ₹102.00 |
| High | ₹107.10 |
| Last Trade | ₹107.10 |
Solve Plastic Products Ltd.
Door No XIII/690/ABC,
Tholicode, Punalur,
Kollam - 691333
Kollam, Kerala
Phone: +91 99956 31001
Email: cs@balcopipes.com
Website: https://www.balcopipes.com/
Integrated Registry Management Services Pvt.Ltd.
Phone: 044 - 28140801 to 28140803
Email: smeipo@integratedindia.in
Website: https://www.integratedregistry.in/RegistrarsToSTA.aspx?OD=1
Solve Plastic Products IPO is a SME IPO of 13,02,000 equity shares of the face value of ₹10 aggregating up to ₹11.85 Crores. The issue is priced at ₹91 per share. The minimum order quantity is 1200.
The IPO opens on August 13, 2024, and closes on August 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 August 13, 2024 and closes on August 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 Tuesday, August 20, 2024. Check the Solve Plastic Products IPO allotment status.
The Solve Plastic Products IPO listing date is on Wednesday, August 21, 2024.
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