Solve Plastic Products is scheduled to hit the market on August 13, 2024 and close on August 16, 2024. Solve Plastic Products plans to raise around ₹11.85 Cr through an IPO with a sale of up to 1,302,000 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Founded in 1994, Solve Plastic Products Limited specializes in the manufacturing of a wide variety of uPVC pipes and rigid PVC electrical conduits, marketed under the brand name “BALCOPIPES.” The company operates three manufacturing units in Kerala and an additional well-equipped facility in Tamil Nadu. Its products meet the standards set by various authorities, including the Bureau of Indian Standards (BIS) and are approved by organizations such as the Central Public Works Department (CPWD) in Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, and the Public Works Departments of Kerala and Tamil Nadu.
The product portfolio of Solve Plastic Products Limited includes solvent cement, water tanks, garden hoses, rigid PVC electrical cables, and PVC pipes. With a dedicated workforce of 165 employees, excluding the managing directors, the company primarily distributes its products throughout the state of Kerala, ensuring quality and reliability in its offerings.
Solve Plastic Products IPO Details
Solve Plastic Products IPO opens on August 13, 2024, and closes on August 16, 2024. The Listing date for Solve Plastic Products IPO is on August 21, 2024. The price band for IPO is ₹91 per share and lot size of 1200 Shares.
| IPO Date | August 13, 2024 to August 16, 2024 |
| Listing Date | August 21, 2024 |
| Price | ₹91 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹11.85 Cr |
| Face Value | ₹10 per share |
Solve Plastic Products IPO Tentative Timetable
Solve Plastic Products opening date is August 13, 2024 and close date is August 16, 2024. The IPO allotment date is August 19, 2024. Therefund initiation of IPO is on August 20, 2024. The credit of shares in demat account is on August 20, 2024. The listing date is on August 21, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 13, 2024 |
| IPO Closing | August 16, 2024 |
| IPO Allotment Date | August 19, 2024 |
| Refund Initiation | August 20, 2024 |
| Shares Credit to Demat | August 20, 2024 |
| Lisiting Date | August 21, 2024 |
Solve Plastic Products IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹109,200).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹109,200 |
| Retail(Maximum) | 1 | 1200 | ₹109,200 |
| S-HNI (Minimum) | 2 | 2,400 | ₹218,400 |
Solve Plastic Products IPO Promoter Holding
| Pre Issue Share Holding | 90.22 |
| Post Issue Share Holding |
Solve Plastic Products IPO Review
Solve Plastic Products Ltd. (SPPL) operates in the highly competitive and fragmented market of uPVC and Rigid PVC pipes. The company manufactures a comprehensive range of pipes and electrical conduits and has a well-established presence in Kerala and Tamil Nadu, with plans to expand capacity to meet rising demand. Despite having a modern, automated production facility and a network of 260 dealers/distributors across three states, SPPL has faced inconsistent financial performance. The company’s financials show a mixed bag with fluctuating revenues and profitability over recent years.
The IPO, set to open on August 13, 2024, aims to raise Rs. 11.85 crore by issuing 1,302,000 equity shares at Rs. 91 each. The funds from the IPO will be allocated for capital expenditure on new plant and machinery, working capital, and general corporate purposes. Post-IPO, the company will have a market capitalization of Rs. 39.75 crore. However, the financial performance in recent years, including losses in FY22 and modest profits in FY23 and FY24, combined with an aggressive pricing of the issue with a P/E ratio of 27.91, suggests the offering may be overvalued.
Given the company's operating environment and financial track record, the IPO appears to be a high-risk, low-return investment. The competitive nature of the PVC pipe industry, coupled with SPPL’s inconsistent earnings and the relatively high valuation of the issue, indicates that investors may want to approach this IPO with caution or consider skipping it.
Solve Plastic Products IPO Subscription Status (Bidding Details)
Table not foundSolve Plastic Products IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Solve Plastic Products IPO FAQs
What is Solve Plastic Products IPO?
Solve Plastic Products is issuing 1,302,000 equity shares with a face value of ₹10 each, totaling up to ₹11.85 Cr. The shares are being offered at a price of ₹91 each, with a minimum order quantity of 1200 shares.
Integrated Registry Management Services Private Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Solve Plastic Products IPO will open?
Solve Plastic Products will open on August 13, 2024 for QIB, NII, and Retail Investors.
When Solve Plastic Products IPO will end?
Solve Plastic Products will end on August 16, 2024.
What is Solve Plastic Products IPO Size?
Solve Plastic Products IPO size is ₹11.85 Cr.
What is Solve Plastic Products IPO Price Band?
Solve Plastic Products price band is ₹91 per share.
What is the Solve Plastic Products IPO Allotment Date?
Solve Plastic Products allotment date is August 19, 2024.
What is the Solve Plastic Products IPO Listing Date?
Solve Plastic Products listing date is August 21, 2024. The IPO is to be listed on BSE and NSE.
How to Solve Plastic Products IPO through Zerodha?
To apply for the IPO “Solve Plastic Products” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Solve Plastic Products IPO through Upstox?
To apply for the IPO “Solve Plastic Products” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Solve Plastic Products IPO Allotment Status?
For Solve Plastic Products IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Solve Plastic Products IPO GMP?
You can check out here: Solve Plastic Products IPO GMP