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Solve Plastic Products Ltd IPO

Plastics are a wide range of synthetic or semi-synthetic materials that use polymers as a main ingredient. Their plasticity makes it possible for plas...

  • Status: Closed
  • - / - shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    21 Aug 2024

  • Listing Price

    ₹ 102.00

  • Listing Change

    12.09%

  • Last Traded Price

    ₹ 77.80

IPO Details

  • Open Date

    13 Aug 2024

  • Close Date

    16 Aug 2024

  • IPO Price Range

    ₹ 91

  • IPO Size

    ₹ 11.85 Cr

  • Listing Exchange

    TBA

  • Listing Date

    21 Aug 2024

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IPO Timeline

Solve Plastic Products Ltd IPO Subscription Status

Last Updated: 16th August 2024, 5:20 PM by 5paisa

Solve Plastic Products IPO is set to open on 13 August 2024 and will close on 16 August 2024. The company is a manufacturer of rigid PVC electrical conduits and a broad variety of uPVC pipes. 

The IPO includes a fresh issue of 13,02,000 shares aggregating up to ₹11.85 Cr. The price range is ₹91 per share and the lot size is 1200 shares. 

The allotment is scheduled to be finalized on 19 August 2024. It will go public on NSE SME, with a tentative listing date of 21 August 2024.

Finshore Management Services Limited is the book-running lead manager, while Integrated Registry Management Services Private Limited is the registrar. 

Solve Plastic IPO Size

                                                                                       
Types Size (₹Cr)
Total IPO size 11.85
Offer for sale -
Fresh issue 11.85

Solve Plastic IPO Lot Size

Application Lots Shares Amount (₹)
Retail (Min) 1 1200 1,09,200
Retail (Max) 1 1200 1,09,200
HNI (Min) 2 2400 2,18,400

1. Funding Capital Expenditure towards the purchase of additional plant and machinery
2. To meet the Working Capital Requirements
3. To meet the Issue Expenses
4. General Corporate Purposes

Solve Plastic Products Limited was established in 1994 and is a manufacturer of rigid PVC electrical conduits and a broad variety of uPVC pipes. 

The company's products are sold under the brand name "BALCOPIPES." The firm runs one well-equipped production facility in Tamil Nadu and three manufacturing facilities in Kerala. 

They have received approval from multiple agencies, such as the Central Public Works Departments (CPWD) of Chennai and Kochi, Military Engineer Services (MES), and the Public Works Departments (PWD) of Kerala and Tamil Nadu, and certification from the Bureau of Indian Standards (BIS) for solvent cement, water tanks, garden hoses, and PVC pipes. 

The company's main market for product distribution is Kerala.

Strengths

1. The company has built a strong brand reputation in the market under the name "BALCOPIPES,".
2. The company offers a wide range of products, including uPVC pipes, Rigid PVC electrical conduits, solvent cement, water tanks, garden hoses, and PVC pipes.
3. The company's products are certified by the Bureau of Indian Standards (BIS) and are approved by prestigious organizations.
4. With manufacturing units in Kerala and Tamil Nadu, the company is well-positioned to serve the southern Indian market.

Risks

1. The company's primary market is Kerala, which exposes it to regional economic downturns.
2. The PVC and uPVC market is highly competitive, with many players offering similar products.
3. The manufacturing of PVC products depends heavily on the availability and cost of raw materials like PVC resin.
4. The industry is subject to various environmental and safety regulations. 

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FAQs

Solve Plastic Products IPO opens from 13th August to 16th August 2024.

The size of Solve Plastic Products IPO is ₹11.85 Cr.

The price of Solve Plastic Products IPO is fixed at ₹91 per share. 

To apply for Solve Plastic Products 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 Solve Plastic Products 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.

The minimum lot size of Solve Plastic Products IPO is 1200 shares and the investment required is ₹1,09,200.
 

The share allotment date of Solve Plastic Products IPO is 19th August 2024

The Solve Plastic Products IPO will be listed on 21st August 2024.

Finshore Management Services Ltd is the book-running lead manager for Solve Plastic Products IPO.

Solve Plastic Products plans to utilize the raised capital from the IPO for:

● 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