What you must know about Polysil Irrigation Systems IPO?
by 5paisa Research Team
05 Feb 2024
Listing Details
- Listing Exchange NSE SME
- Listing Date 16-Feb-24
- IPO Price Range ₹ 54
- Listing Price ₹ 56
- Listing Change 3.7%
- Last Traded Price ₹ 38.4
- Current Change -28.9%
Polysil Irrigation IPO Details
- Open Date 08-Feb-24
- Close Date 13-Feb-24
- Lot Size 2000
- IPO Size ₹ 17.43 Cr
- IPO Price Range ₹ 54
- Min Investment ₹ 108000
- Listing Exchange NSE SME
- Basis of Allotment 14-Feb-24
- Refunds 15-Feb-24
- Credit to Demat Account 15-Feb-24
- Listing Date 16-Feb-24
Polysil Irrigation Systems IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 8-Feb-24 | - | 0.21 | 1.51 | 0.86 |
| 9-Feb-24 | - | 0.40 | 4.39 | 2.40 |
| 12-Feb-24 | - | 0.88 | 6.39 | 3.57 |
| 13-Feb-24 | - | 2.12 | 11.62 | 6.88 |
Polysil Irrigation IPO Synopsis
Polysil Irrigation Systems IPO is all set to open from 8th February to 13th February 2024. The company is engaged in the drip and sprinkler irrigation sectors. The IPO includes a fresh issue of 1,444,000 shares worth ₹7.80 cr. and an Offer-for-Sale (OFS) of 1,785,000 shares worth ₹9.64 cr. The IPO size is ₹17.44 cr. The share allotment date is 14th February 2024, and the IPO will be listed on 16th February 2024 on the stock exchanges. The price is ₹54 and the lot size is 2000 shares.
Fedex Securities Private Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of Polysil Irrigation Systems IPO:
Polysil Irrigation Systems plans to utilize the raised capital from the IPO to:
• To meet working capital requirements.
• General corporate purposes.
About Polysil Irrigation Systems
Established in 1985, Polysil Irrigation Systems is engaged in the drip and sprinkler irrigation sectors. Its product line includes HDPE Pipes, pipe fittings and irrigation equipment, including disc filters, screen filters, hydro-cyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanicals), fertilizer tanks, Digital Controllers, Pressure Gauges, and more. The company also has a presence in the micro irrigation sector.
Polysil Irrigation Systems operates in Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. It has a network of 8 distributors and 425 dealers across the country as of July 2023.
Peer Comparison
• Captain Polyplast Limited
• R M Drip And Sprinklers Systems Limited
• Texmo Pipes & Products Limited
• Jain Irrigation Systems Limited
For More Information:
Webstory on Polysil Irrigation Systems IPO
Polysil Irrigation Systems Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 43.88 | 37.62 | 54.59 |
| EBITDA | 4.62 | 2.90 | 3.19 |
| PAT | 1.13 | 0.34 | 0.65 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 55.31 | 46.17 | 41.78 |
| Share Capital | 9.89 | 0.45 | 0.45 |
| Total Borrowings | 39.96 | 32.45 | 28.40 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 1.99 | -0.41 | -0.42 |
| Net cash from / (used in) investing activities | -1.61 | -2.28 | -0.92 |
| Net cash flow from / (used in) financing activities | -0.46 | 2.41 | 1.49 |
| Net increase (decrease) in cash and cash equivalents | -0.08 | -0.28 | 0.15 |
Polysil Irrigation IPO Key Points
-
Strengths
1. The company has a Strong Marketing and Distribution network.
2. Its business model is robust and scalable.
3. The company enjoys a well-diversified customer base all over India.
4. It has a well-diversified product portfolio.
5. Experienced promoter and management team. -
Risks
1. The company has reported negative cash flows in the past.
2. The Micro Irrigation Industry is highly dependent on subsidy policies by the central & state government.
3. It relies significantly on the Dealers/Distributors network for the sale of products.
4. The demand for products is seasonal and largely depends on the farm produce and subsidy cycle.
5. High working capital requirements.
6. Exposed to exchange rate fluctuations.
Polysil Irrigation
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Polysil Irrigation IPO FAQs
When does the Polysil Irrigation Systems IPO open and close?
Polysil Irrigation Systems IPO opens from 8th February to 13th February 2024.
What is the size of the Polysil Irrigation Systems IPO?
The Polysil Irrigation Systems IPO size is ₹17.44 cr.
How to apply for the Polysil Irrigation Systems IPO?
To apply for Polysil Irrigation Systems IPO, follow the steps given below
• Login to your 5paisa account and select the issue in the current IPO section
• Enter the number of lots and the price at which you wish to apply for the Polysil Irrigation Systems IPO.
• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the GMP of the Polysil Irrigation Systems IPO?
The GMP value of every IPO changes daily. To view today's GMP of Polysil Irrigation Systems IPO visit https://www.5paisa.com/ipo/ipo-gmp
What is the price band of Polysil Irrigation Systems IPO?
The price band of Polysil Irrigation Systems IPO is fixed at ₹54 per share.
What is the minimum lot size and investment required for the Polysil Irrigation Systems IPO?
The minimum lot size of Polysil Irrigation Systems IPO is 2000 shares and the investment required is ₹1,08,000.
What is the allotment date of the Polysil Irrigation Systems IPO?
The share allotment date of Polysil Irrigation Systems IPO is 14th February 2024.
What is the Polysil Irrigation Systems IPO listing date?
The Polysil Irrigation Systems IPO will be listed on 16th February 2024.
Who are the book runners for the Polysil Irrigation Systems IPO?
Fedex Securities Private Limited is the book-running lead manager for Polysil Irrigation Systems IPO.
What is the objective of Polysil Irrigation Systems IPO?
Polysil Irrigation Systems plans to utilize the raised capital from the IPO to:
1. To meet working capital requirements.
2. General corporate purposes.
Contact Details of Polysil Irrigation Systems IPO
Contact Information
Polysil Irrigation Systems Limited
Survey No- 340/1, Beside Hystuff Steel,
At Post Raniya, Taluka Savli,
District Vadodara - 391780
Phone: 026 6724 4271/2
Email: secretarial@polysilirrigation.com
Website: https://polysilirrigation.com/
Polysil Irrigation Systems IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Polysil Irrigation Systems IPO Lead Manager
Fedex Securities Pvt Ltd
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