Solve Plastic Products IPO will open for subscription from 13 August 2024. The company aims for an issue size of ₹11.85 Cr through this IPO.
Company Overview
| Full name | Solve Plastic Products Limited |
| Sector | Plastic Products |
| Industry | Plastic Products |
| Company Website | https://www.balcopipes.com/ |
About Company
Solve Plastic Products manufactures a comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) pipes and rigid PVC electrical conduits. The company is committed to constant innovations in drinking water piping solutions and electrical conduit fitting technologies to meet the ever-increasing demands. Solve Plastic Products markets its products under the brand name “BALCOPIPES” through its network of authorized dealers and distributors. As of August 2024, the company has 260 authorized dealers and distributors across three states: Kerala, Karnataka, and Tamil Nadu.
Solve Plastic Products operates three well-equipped manufacturing facilities in Kerala and one in Tamil Nadu. The company plans to enhance the plant capacity of electrical conduits from 2,760 MT (2,760,000 kg) per annum to 4,860 MT (4,860,000 kg) per annum at its existing facility in Unit 4, Tirunelveli, Tamil Nadu. In response to the demand for HDPE pipes, the company also proposes to expand its product portfolio by establishing a manufacturing facility for HDPE pipes with a capacity of 2,160 MT (2,160,000 kg) per annum at its existing manufacturing facility in Unit 2, Kollam, Kerala. The overall project cost for this proposed expansion is estimated at INR 5.53 crore. The company has a total of 165 employees (excluding the managing directors).
The Objectives of the Issue
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- To meet the Working Capital Requirements
- To meet the Issue Expenses
- General Corporate Purposes
Solve Plastic Products IPO Timetable
| IPO Opening date | 13 August 2024 |
| IPO Closing | 16 August 2024 |
| Basis of Allotment | 19 August 2024 |
| Initiation Refund | 20 August 2024 |
| Credit to Demat Account | 20 August 2024 |
| Listing Date | 21 August 2024 |
Solve Plastic Products IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹11.85 Cr – 1,302,000 shares |
| Fresh Issue | ₹11.85 Cr – 1,302,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹91 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 66,000 shares |
| Shareholding pre-issue | 3,066,250 |
| Shareholding post-issue | 4,368,250 |
| Listing Exchange | NSE SME |
Solve Plastic Products IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹109,200 |
| Retail (Max) | 1 | 1200 | ₹109,200 |
| HNI (Min) | 2 | 2,400 | ₹218,400 |
Solve Plastic Products Offer Documents
Solve Plastic Products Offer Reservation Details
Solve Plastic Products IPO offers 1,302,000 shares. 618,000 (47.47%) to NII, 618,000 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 66,000 (5.07%) |
| Other Shares Offered | 618,000 (47.47%) |
| Retail Shares Offered | 618,000 (47.47%) |
| Total Shares Offered | 1,302,000 (100%) |
Solve Plastic Products Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 55.07 | 60.77 | 46.19 |
| Expenses | 53.98 | 58.81 | 43.50 |
| Net income | (0.41) | 1.20 | 1.42 |
Solve Plastic Products Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | (1.33) | 3.92 | 4.65 |
| PE ratio | – | – | 19.58 |
| RONW (%) | (56.31) | 62.46 | 32.47 |
| NAV | 2.36 | 6.28 | 14.31 |
| ROCE (%) | 19.00 | 47.00 | 35.00 |
| EBITDA (%) | 1.90 | 3.19 | 5.60 |
| Debt/Equity | 17.02 | 6.35 | 2.83 |
Company Promoters
- Mr. Sudheer Kumar Balakrishnan Nair
- Mr. Susil Balakrishnan Nair
- Mr. Balakrishnan Nair
Promoter Holding
| Pre Issue Share Holding | 90.22% |
| Post Issue Share Holding | 63.33% |
Solve Plastic Products Offer GMP Update
Coming Soon
Solve Plastic Products IPO Subscription Update
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 7.75 | 6,18,000 | 47,90,400 |
| Retail | 30.50 | 6,18,000 | 1,88,47,200 |
| Total | 19.88 | 12,36,000 | 2,45,74,800 |
Solve Plastic Products IPO Allotment Status
Solve Plastic Products IPO allotment status will be available on the website of Integrated Registry Management Services. Click on this link to get allotment status.
Solve Plastic Products IPO Listing Details
| Listing Date | 21 August 2024 |
| BSE Scrip Code | coming soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | coming soon |
| Open | |
| Low | |
| High | |
| Last Trade |
Solve Plastic Products IPO Lead Manager(s)
FINSHORE MANAGEMENT SERVICES LIMITED
Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227
A.J.C Bose Road, Kolkata-700020, West Bengal, India
Phone: 033 – 2289 5101 / 4603 2561
Email: info@finshoregroup.com
Website: www.finshoregroup.com
Solve Plastic Products Registrar
INTEGRATED REGISTRY MANAGEMENT SERVICES PRIVATE LIMITED
No. 30, Ramana Residency, 4th Cross Sampige Road,
Malleswaram, Bengaluru – 560003, India
Phone: +91-80-23460815/816/817/818
Email: smeipo@integratedindia.in
Website: www.integratedindia.in
Solve Plastic Products Contact Details
SOLVE PLASTIC PRODUCTS LIMITED
2nd Floor, BALCO Building, XXIX/456,
PowerhouseWard, Tholicode P.O.
Punalur, Kollam, Kerala -691333
Phone: +91 99956 31001
E-mail: cs@balcopipes.com
Website: www.balcopipnes.com
Solve Plastic Products IPO FAQs
What is the Solve Plastic Products offer size?
Solve Plastic Products’ offer size is ₹ 11.85 crores.
What is the Solve Plastic Products offer price band?
Solve Plastic Product’s public offer price is ₹ 91 per share.
What is the lot size of the Solve Plastic Products IPO?
Solve Plastic Products offer a lot size is 1,200 shares.
What is Solve Plastic Products Offer GMP today?
Solve Plastic Products IPO GMP today is ₹ NA per share.
What is the Solve Plastic Products kostak rate today?
Solve Plastic Products kostak rate today is ₹ NA per application.
What is Solve Plastic Products Subject to Sauda Rate Today?
Solve Plastic Products is Subject to the Sauda rate today is ₹ NA per application.
What are Solve Plastic Products IPO’s expected listing price and return?
As per the prevailing grey market premium, Solve Plastic Products IPO’s expected listing price is INR per share while the return is likely to be %.
Final thoughts
Solve Plastic Products IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
