SPP Polymer is scheduled to hit the market on September 10, 2024 and close on September 12, 2024. SPP Polymer plans to raise around ₹24.49 Cr through an IPO with a sale of up to 4,150,000 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
SPP Polymers Limited, which started in 2004 as SPP Food Products Private Limited, makes a variety of products like HDPE/PP woven fabric and bags, non-woven fabrics and bags, and Multifilament Yarn. The company is based in Rudrapur City, Uttarakhand. They provide customized solutions to meet their clients' needs and have a production capacity of 12,000 MT for HDPE/PP woven fabric and bags, 4,000 MT for non-woven fabric, and 300 MT for Multifilament Yarn each year.
The company has earned several certifications for its quality and safety standards, including ISO 9001:2015 and ISO 45001:2018. Their products are mainly used in industries like agro-pesticides, cement, chemicals, fertilizers, food products, textiles, ceramics, and steel. As of December 31, 2024, SPP Polymers Limited has 4 employees on its payroll.
SPP Polymer IPO Details
SPP Polymer IPO opens on September 10, 2024, and closes on September 12, 2024. The Listing date for SPP Polymer IPO is on September 17, 2024. The price band for IPO is ₹59 per share and lot size of 2000 Shares.
| IPO Date | September 10, 2024 to September 12, 2024 |
| Listing Date | September 17, 2024 |
| Price | ₹59 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹24.49 Cr |
| Face Value | ₹10 per share |
SPP Polymer IPO Tentative Timetable
SPP Polymer opening date is September 10, 2024 and close date is September 12, 2024. The IPO allotment date is September 13, 2024. Therefund initiation of IPO is on September 16, 2024. The credit of shares in demat account is on September 16, 2024. The listing date is on September 17, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 10, 2024 |
| IPO Closing | September 12, 2024 |
| IPO Allotment Date | September 13, 2024 |
| Refund Initiation | September 16, 2024 |
| Shares Credit to Demat | September 16, 2024 |
| Lisiting Date | September 17, 2024 |
SPP Polymer IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹118,000.).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹118,000 |
| Retail(Maximum) | 1 | 2000 | ₹118,000 |
| S-HNI (Minimum) | 2 | 4000 | ₹236,000 |
SPP Polymer IPO Promoter Holding
| Pre Issue Share Holding | 94.99% |
| Post Issue Share Holding | 69.37% |
SPP Polymer IPO Review
The company is launching its first IPO, offering 4,150,000 equity shares with a face value of Rs. 10 each. The shares will be sold at a fixed price of Rs. 59 each, aiming to raise Rs. 24.49 crore.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 80.78 cr. / Rs. 0.28 cr. (FY22), Rs. 66.78 cr. / Rs. 0.54 cr. (FY23), Rs. 93.81 cr. / Rs. 0.99 cr. (FY24). For Q1 of FY25 ended on June 30, 2024, it earned a net profit of Rs. 0.91 cr. on a total income of Rs. 28.96 cr. The sudden boost in its bottom line for Q1 raised eyebrows and concern over its sustainability going forward.
For the last three fiscals, it has reported an average EPS of Rs. 1.30, and an average RoNW of 2.97%. The issue is priced at a P/BV of 2.56 based on its NAV of Rs. 23.05 as of June 30, 2024, and at a P/BV of 1.80 based on its post-IPO NAV of Rs. 32.75 per share.
If we attribute FY25 annualized super earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 24.89. Based on FY23 earnings the P/E stands at 90.77. The issue relatively appears aggressively priced.
For the reported periods, the company has posted PAT margins of 0.35% (FY22), 0.82% (FY23), 1.08% (FY24), 3.24 (Q1-FY25), and RoCE margins of 4.04%, 5.45%, 9.13%, 4.27% respectively for the referred periods.
The company makes and supplies HDPE/PP fabrics, bags, and other packaging solutions. It did okay on average until FY24 but saw a big increase in profits for the first quarter of FY25. This unexpected performance has raised some questions about whether it can keep up this growth. Based on the annual earnings for FY25, the stock seems to be priced quite high. Smart investors might consider investing a moderate amount for the long term.
SPP Polymer IPO Subscription Status (Bidding Details)
Table not foundSPP Polymer 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
SPP Polymer IPO FAQs
What is SPP Polymer IPO?
SPP Polymer is issuing 4,150,000 equity shares with a face value of ₹10 each, totaling up to ₹24.49 Cr. The shares are being offered at a price of ₹59 each, with a minimum order quantity of 2000 shares.
Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When SPP Polymer IPO will open?
SPP Polymer will open on September 10, 2024 for QIB, NII, and Retail Investors.
When SPP Polymer IPO will end?
SPP Polymer will end on September 12, 2024.
What is SPP Polymer IPO Size?
SPP Polymer IPO size is ₹24.49 Cr.
What is SPP Polymer IPO Price Band?
SPP Polymer price band is ₹59 per share.
What is SPP Polymer IPO Allotment Date?
SPP Polymer allotment date is September 13, 2024.
What is SPP Polymer IPO Listing Date?
SPP Polymer listing date is September 17, 2024. The IPO is to be listed on BSE and NSE.
How to SPP Polymer IPO through Zerodha?
To apply for the IPO “SPP Polymer” 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 SPP Polymer IPO through Upstox?
To apply for the IPO “SPP Polymer” 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 SPP Polymer IPO Allotment Status?
For SPP Polymer IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is SPP Polymer IPO GMP?
You can check out here: SPP Polymer IPO GMP. Check all IPO GMP here.