Polysil Irrigation Systems IPO will open for subscription from 08 February 2024. The company aims for an issue size of ₹17.44 Cr through this IPO.
Company Overview
| Full name | Polysil Irrigation Systems Limited |
| Sector | Plastic Products |
| Industry | Plastic Products |
| Company Website | https://polysilirrigation.com/ |
About Company
Established in 1985, Polysil Irrigation Systems is a fully integrated player in the drip and sprinkler irrigation sectors, with a presence in the micro irrigation industry. The company is engaged in the manufacturing and sale of HDPE pipes, pipe fittings, and irrigation equipment, including disc filters, screen filters, hydro-cyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanical), fertilizer tanks, digital controllers, pressure gauges, etc. These products are marketed under the brand ‘Polysil’.
As of 31 July 2023, Polysil Irrigation has distributed its products through 8 distributors and approximately 425 dealers across India. The company’s end customers qualify for government subsidies, with the disbursement process overseen by its distributors, dealers, and/or the customers themselves. Polysil Irrigation Systems functions in the states of Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana. As of 31 March 2023, the company’s total staff comprises 82 employees, encompassing skilled and unskilled labor, administrative staff, and the management team.
The Objectives of the Issue
- Funding our Working Capital Requirements; and
- General Corporate Purpose.
Polysil Irrigation Systems IPO Timetable
| IPO Opening date | 08 February 2024 |
| IPO Closing | 13 February 2024 |
| Basis of Allotment | 14 February 2024 |
| Initiation Refund | 15 February 2024 |
| Credit to Demat Account | 15 February 2024 |
| Listing Date | 16 February 2024 |
Polysil Irrigation Systems IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹17.44 Cr – 3,229,000 shares |
| Fresh Issue | ₹7.80 Cr – 1,444,000 shares |
| Offer for sale | ₹9.64 Cr – 1,785,000 shares |
| Face value | ₹10 per share |
| Offer Price | ₹54 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 164,000 shares |
| Shareholding pre-issue | 9,897,090 |
| Shareholding post-issue | 11,341,090 |
| Listing Exchange | NSE SME |
Polysil Irrigation Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Polysil Irrigation Systems IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 164,000 (5.08%) |
| Other Shares Offered | 1,532,000 (47.46%) |
| Retail Shares Offered | 1,532,000 (47.46%) |
| Total Shares Offered | 3,228,000 (100%) |
Polysil Irrigation Systems Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 31 Mar – 15 Aug 2024 | |
| Revenue | 54.59 | 37.62 | 43.88 | 10.19 |
| Expenses | 53.68 | 36.99 | 41.27 | 8.46 |
| Net income | 0.65 | 0.34 | 1.14 | 1.10 |
Polysil Irrigation Systems Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.66 | 0.34 | 1.15 |
| PE ratio | – | – | 46.96 |
| RONW (%) | 4.84 | 2.46 | 7.39 |
| NAV | 13.55 | 13.88 | 15.53 |
| ROCE (%) | 8.59 | 6.02 | 12.81 |
| EBITDA (%) | 5.60 | 7.58 | 10.53 |
| Debt/Equity | 0.83 | 1.09 | 1.01 |
Company Promoters
- Bharatkumar Patel
- Prafulbhai Radadia
Promoter Holding
| Pre Issue Share Holding | 33.79% |
| Post Issue Share Holding | 29.49% |
Polysil Irrigation Systems IPO Lead Manager(s)
FEDEX SECURITIES PRIVATE LIMITED
B 7, 3rd Floor, Jay Chambers, Dayaldas Road,
Vile Parle – [East], Mumbai – 400 057, Maharashtra
Phone: +91 81049 85249
Email: mb@fedsec.in
Website: www.fedsec.in
Polysil Irrigation Systems Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Polysil Irrigation Systems Contact Details
POLYSIL IRRIGATION SYSTEMS LIMITED
Survey No- 340/1, Beside Hystuff Steel, At Post Raniya,
Taluka Savli, District Vadodara, – 391780, Gujarat, India
Phone: 026 6724 4271/2
E-mail: secretarial@polysilirrigation.com
Website: www.polysilirrigation.com
Polysil Irrigation Systems IPO Allotment Status
Polysil Irrigation IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Polysil Irrigation Systems IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
