Silkflex Polymers IPO will open for subscription from 07 May 2024. The company aims for an issue size of ₹18.11 Cr through this IPO.
Company Overview
| Full name | Silkflex Polymers Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://silkflexindia.in/ |
About Company
Silkflex Polymers (India) specializes in trading textile printing inks and water-based wood coating polymers, primarily sourced from the Malaysian brand ‘Silkflex’, manufactured by Silkflex Polymers SDN BHD (Silkflex Malaysia). Silkflex Polymers (India) provides an extensive range of products, including 108 textile printing ink products and 51 wood coating polymer products. The company secured a distribution and sales agreement with Silkflex Malaysia on 1 October 2016, to offer Silkflex’s water-based textile printing inks.
Silkflex India products are certified to ZDHC Confidence Level 3 (Zero Discharge of Hazardous Chemicals). As of January 2024, the company’s registered office is located in West Bengal. It also operates five branch offices and warehouses in India, with locations in Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab. As of 31 December 2023, Silkflex India had 28 permanent employees working at its offices.
The Objectives of the Issue
- Acquisition of land;
- Funding of capital expenditure requirements of the Company towards purchase of Plant and Machineries;
- Funding Working Capital Requirements of the Company; and
- General corporate purposes.
Silkflex Polymers IPO Timetable
| IPO Opening date | 07 May 2024 |
| IPO Closing | 10 May 2024 |
| Basis of Allotment | 13 May 2024 |
| Initiation Refund | 14 May 2024 |
| Credit to Demat Account | 14 May 2024 |
| Listing Date | 15 May 2024 |
Silkflex Polymers IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹18.11 Cr – 3,482,000 shares |
| Fresh Issue | ₹18.11 Cr – 3,482,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹52 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 178,000 shares |
| Shareholding pre-issue | 8,125,000 |
| Shareholding post-issue | 11,607,000 |
| Listing Exchange | NSE SME |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹104,000 |
| Retail (Max) | 1 | 2000 | ₹104,000 |
| HNI (Min) | 2 | 4,000 | ₹208,000 |
Silkflex Polymers IPO Documents
Silkflex Polymers IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 178,000 (5.11%) |
| Other Shares Offered | 1,652,000 (47.44%) |
| Retail Shares Offered | 1,652,000 (47.44%) |
| Total Shares Offered | 3,482,000 (100%) |
Silkflex Polymers Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 20.75 | 27.82 | 34.21 | 33.48 |
| Expenses | 20.35 | 27.12 | 33.34 | 30.36 |
| Net income | 0.45 | 0.69 | 0.79 | 2.57 |
Silkflex Polymers Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.68 | 0.85 | 0.97 |
| PE ratio | – | – | 53.61 |
| RONW (%) | 8.83 | 9.29 | 9.62 |
| NAV | 7.69 | 9.14 | 10.05 |
| ROE (%) | 11.52 | 10.96 | 10.11 |
| EBITDA (%) | 7.06 | 6.69 | 7.59 |
| Debt/Equity | 1.19 | 1.35 | 1.48 |
Company Promoters
- Mr Tushar Lalit Kumar Sanghavi
- Ms Urmi Raj Mehta
- M/s. Tushar Lalitkumar Sanghavi HUF
- M/s. Lalitbhai H Sanghvi HUF.
Promoter Holding
| Pre Issue Share Holding | 99.84% |
| Post Issue Share Holding | 69.89% |
Silkflex Polymers IPO Subscription Update
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 16,52,000 | 16,52,000 | 33,04,000 |
| 10 May 2024 | 36.30 | 31.48 | 33.89 |
| 9 May 2024 | 1.63 | 8.02 | 4.83 |
| 8 May 2024 | 0.75 | 3.24 | 1.99 |
| 7 May 2024 | 0.25 | 1.70 | 0.98 |
Silkflex Polymers IPO GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 14 May 2024 | 13 | – | 13,500 |
| 13 May 2024 | 15 | – | 15,000 |
| 11 May 2024 | 10 | – | 9,000 |
| 10 May 2024 | 10 | – | 9,000 |
| 9 May 2024 | 5 | – | 8,000 |
| 8 May 2024 | 5 | – | 8,000 |
| 7 May 2024 | 5 | – | 9,000 |
| 6 May 2024 | 7 | – | 11,000 |
| 4 May 2024 | 10 | – | 15,000 |
IPO Allotment Status
Silkflex Polymers IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Silkflex Polymers IPO Listing Details
| Listing Date | 15 May 2024 |
| BSE Script Code | – |
| NSE Symbol | SILKFLEX |
| ISIN | INE0STN01015 |
| Final Issue Price | ₹52 per share |
Silkflex Polymers IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹52.00 |
| Open | ₹60.00 |
| Low | ₹57.00 |
| High | ₹63.00 |
| Last Trade | ₹58.70 |
Silkflex Polymers Lead Manager(s)
SHRENI SHARES LIMITED
Office No. 217, Hive 67 Icon, Poisar Gymkhana Road,
Lokmanya Tilak Nagar Poisar, Near Raghuleela Mall,
Kandivali West, Mumbai-400067, Maharashtra
Phone: 022 2089 7022
Email: shrenishares@gmail.com
Website: www.shreni.in
Silkflex Polymers 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
Silkflex Polymers Contact Details
SILKFLEX POLYMERS (INDIA) LIMITED
Daga Complex, Sulati Jaladhulagori,
Sankrail, Howrah – 711 302, West Bengal
Phone: +91 9674912615
E-mail: investors@silkflexindia.in
Website: www.silkflexindia.in
Silkflex Polymers IPO FAQs
What is the Silkflex Polymers (India) IPO size?
Silkflex Polymers’ offer size is ₹18.11 crores.
What is the Silkflex Polymers (India) IPO price band?
Silkflex Polymers’ public offer price is ₹52 per share.
What is the lot size of the Silkflex Polymers Offer?
Silkflex Polymers offers lot size is 2,000 shares.
What is Silkflex Polymers IPO GMP today?
Silkflex Polymers IPO GMP today is ₹13 per share.
What is the Silkflex Polymers kostak rate today?
Silkflex Polymers’ kostak rate today is INR NA per application.
What is Silkflex Polymers Subject to the Sauda rate today?
Silkflex Polymers is Subject to the Sauda rate today is ₹13,500 per application.
Final thoughts
Silkflex Polymers 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 research the company fundamentally. learn well and make wise decisions.
Happy Investing
