SPP Polymers IPO Subscription Status

SPP Polymers' initial public offering (IPO) has garnered significant investor interest, with subscription rates climbing steadily over the three days. Starting strongly on day one, the IPO witnessed a surge in demand, resulting in an impressive 20.79 times oversubscription by the close of day three. This strong response underscores the robust market appetite for SPP Polymers' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 10th September 2024, has seen increasing investor participation across categories. The Retail segment, in particular, has shown exceptional demand, while the Non-Institutional Investors (NII) category has also demonstrated solid interest. 

This enthusiastic response to SPP Polymers' IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the polymer and packaging sector. The company's diverse product range and strong presence in key industrial sectors appear to have resonated well with investors looking for exposure to India's growing manufacturing industry.

Subscription Status of SPP Polymers IPO for Days 1, 2, and 3:

On day 1, SPP Polymers IPO was subscribed 5.36 times. By the end of day 2, the subscription status had risen to 12.05 times; on day 3, it reached 20.79 times.

Here are the subscription details for SPP Polymers IPO as of Day 3 (12th September 2024 at 12:09:59 PM):

Total Applications: 34,999

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. 
• ** The portion of anchor investors (or market makers) is not included in the total number of shares offered. 
• *** Market Maker portion is not included to NII/HNI.

Key Highlights:

• The IPO of SPP Polymers is currently subscribed 20.79 times, with strong demand across investor categories.
• Retail investors have shown exceptional interest, with a subscription ratio of 35.53 times.
• Non-Institutional Investors (NII) have demonstrated solid enthusiasm, with a subscription ratio of 6.05 times.
• The overall subscription trend shows a significant increase day-on-day, indicating high investor confidence and positive sentiment towards the issue.

SPP Polymers IPO - Day 2 Subscription at 12.05 Times

Key Highlights:

• On Day 2, SPP Polymers' IPO was subscribed 12.05 times, with strong demand from Retail Individual Investors (RII).
• Retail investors showed increased interest with a subscription ratio of 21.13 times, more than doubling their subscription from the previous day.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 2.98 times.
• The overall subscription trend indicated building momentum, with both retail and NII categories showing increased participation.

SPP Polymers IPO - Day 1 Subscription at 5.36 Times

Key Highlights:

• The IPO of SPP Polymers was subscribed 5.36 times on Day 1, with strong initial demand from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 9.48 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 1.25 times.
• The strong first-day response laid a solid foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About SPP Polymers Ltd:

SPP Polymers Limited, incorporated in 2004 (formerly known as SPP Food Products Private Limited), manufactures a wide range of HDPE/PP woven fabric and bags, non-woven fabrics and bags, and Multifilament Yarn. The company is located in Rudrapur City, Uttarakhand.

Key features of SPP Polymers:

• Product portfolio includes HDPE/PP woven Fabric, HDPE/PP Woven Bags, Non-woven Fabric, Non-woven Bags, and Multifilament PP Yarn
• Installed capacity: HDPE/PP Woven Fabric and bags (12,000 MT), Non-woven Fabric (4,000 MT), and Multifilament Yarn (300 MT) per annum
• ISO certifications: 9001:2015, 45001:2018, 14001:2015, and SA 8000:2014
• Customer base primarily in agro-pesticides, cement, chemical, fertilisers, food products, textile, ceramic, and steel industries
• 4 employees on payroll as of 31st December 2024
• Customised solutions according to client specifications

Read all about SPP Polymers IPO

Highlights of the SPP Polymers IPO:

• IPO Date: September 10, 2024 to September 12, 2024
• Listing Date: 17th September 2024 (Tentative)
• Face Value: ₹10 per share
• IPO Price: ₹59 per share
• Lot Size: 2000 Shares
• Total Issue Size: 4,150,000 shares (aggregating up to ₹24.49 Cr)
• Fresh Issue: 4,150,000 shares (aggregating up to ₹24.49 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Interactive Financial Services Ltd
• Registrar: Kfin Technologies Limited
• Market Maker: B.N. Rathi Securities