SPP Polymer IPO
IPO Listing Details
- Listing Date
17 Sep 2024
- Listing Price
₹ 63.00
- Listing Change
6.78%
- Last Traded Price
₹ 32.60
IPO Details
- Open Date
10 Sep 2024
- Close Date
12 Sep 2024
- IPO Price Range
₹ 59
- IPO Size
₹ 24.49 Cr
- Listing Exchange
NSE SME
- Listing Date
17 Sep 2024
IPO Timeline
SPP Polymer IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-Sep-24 | - | 1.23 | 9.36 | 5.30 |
| 11-Sep-24 | - | 2.98 | 21.05 | 12.02 |
| 12-Sep-24 | - | 22.35 | 59.87 | 43.29 |
Last Updated: 20 September 2024 12:23 PM by 5Paisa
Last Updated: 12th September 2024, 06:08 PM by 5paisa
SPP Polymers IPO is set to open on 10 September 2024 and will close on 12 September 2024. SPP Polymers manufactures a variety of products including HDPE/PP woven fabric and bags, non-woven fabrics and bags, and multifilament yarn.
The IPO includes a fresh issue of 41.5 lakh shares aggregating ₹24.49 Cr and it does not include an offer for sale. The price is set at ₹59 per share and the lot size is 2000 shares.
The allotment is scheduled to be finalised on 13 September 2024. It will go public on NSE SME, with a tentative listing date of 17 September 2024.
Interactive Financial Services Ltd is the book-running lead manager, while Kfin Technologies Limited is the registrar.
SPP Polymer IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO Size | 24.49 |
| Offer For Sale | - |
| Fresh Issue | 24.49 |
SPP Polymer IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹118,000 |
| Retail (Max) | 1 | 2000 | ₹118,000 |
| HNI (Min) | 2 | 4,000 | ₹236,000 |
SPP Polymer IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| NII (HNI) | 22.35 | 19,70,000 | 4,40,36,000 | 259.81 |
| Retail | 59.87 | 19,70,000 | 11,79,50,000 | 695.91 |
| Total | 43.29 | 39,40,000 | 17,05,64,000 | 1,006.33 |
1. Working Capital Requirements.
2. General Corporate Purposes.
3. Repayment of Loan
SPP Polymers Limited, established in 2004 and based in Rudrapur City, Uttarakhand, manufactures a variety of woven and non-woven fabrics, bags, and yarns. Their main products include HDPE/PP woven fabric and bags, non-woven fabric and bags, and multifilament yarn. The company offers customized solutions to meet client needs, with a production capacity of 12,000 MT for woven fabrics and bags, 4,000 MT for non-woven fabric, and 300 MT for yarn annually. They are certified for quality, safety, and environmental management with ISO and other accreditations. Their products cater mainly to industries like agro-pesticides, cement, chemicals, fertilizers, food, textiles, ceramics, and steel. As of December 2024, the company employs four people.
Peers
● Rishi Techtex Ltd.
● Emmbi Industries Ltd
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 93.81 | 66.77 | 80.78 |
| EBITDA | 6.13 | 2.67 | 1.56 |
| PAT | 0.99 | 0.54 | 0.28 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 70.92 | 54.18 | 38.22 |
| Share Capital | 11.24 | 2.81 | 2.75 |
| Total Borrowings | 18.98 | 22.15 | 12.62 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 4.60 | 3.80 | -6.47 |
| Net Cash Generated From / (used in) investing activities | 0.54 | -16.73 | -5.92 |
| Net Cash Generated From / (used in) financing activities | -5.87 | 12.49 | 12.75 |
| Net Increase (Decrease) In Cash And Cash Equivalents | -0.73 | -0.43 | 0.36 |
Strengths
1. SPP Polymers is committed to maintaining high standards, as evidenced by its multiple ISO certifications for quality, safety, and environmental management.
2. The company benefits from a seasoned promoter and management team, bringing valuable industry expertise to drive growth and innovation.
3. With a wide variety of products, SPP Polymers serves a broad customer base across multiple industries. Their long-standing relationships with clients highlight their reliability and customer satisfaction.
Risks
1. The company’s revenue is heavily dependent on industries like agro-pesticides, cement, chemicals, and textiles. Any downturn in these sectors could significantly impact their financial performance.
2. With only four employees as of December 2024, the company's limited workforce could pose operational challenges, especially if they face increased demand or need to manage complex projects.
3. Although they have a diversified customer base, a portion of their revenue might still come from a few key clients. Losing a major client could adversely affect their business.
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FAQs
SPP Polymers IPO opens from 10th September to 12th September 2024.
The size of the SPP Polymers IPO is ₹24.49 Cr.
The price band of SPP Polymers IPO is fixed at ₹59 per share.
To apply for SPP Polymers 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 SPP Polymers 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 SPP Polymers IPO is 2000 shares and the minimum investment required is ₹118,000.
The share allotment date of SPP Polymers IPO is 13th September 2024
The SPP Polymers IPO will be listed on 17th September 2024.
Interactive Financial Services Ltd is the book-running lead manager for SPP Polymers IPO.
SPP Polymers plans to utilise the raised capital from the IPO for:
1. Working Capital Requirements.
2. General Corporate Purposes.
3. Repayment of Loan
