Silkflex Polymers (India) was incorporated on May 13, 2016. The company is engaged in trading textile printing inks and water-based wood coating polymers products from Silkflex, a Malaysian-based brand.
| Bidding Dates |
|---|
| 07 May 2024 - 10 May 2024 |
| Subscription |
|---|
| 32.83x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,04,000 | 1 | 1 | 2000 | 3.5 M | ₹52 | 69.89 % | ₹181.1 M | RHP DOC |
Silkflex Polymers IPO SUBSCRIPTION STATUS
10 May '24Silkflex Polymers IPO overall subscription rate was 32.83 times the total available shares
Silkflex Polymers IPO retail subscription rate was 31.08 times in the retail segment
Silkflex Polymers IPO non-institutional investor subscription rate was 34.58 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
10 May 2024 (Day 4) | 31.08x | 34.58x | - |
09 May 2024 (Day 3) | 7.61x | 1.55x | - |
08 May 2024 (Day 2) | 3.08x | 0.71x | - |
07 May 2024 (Day 1) | 1.62x | 0.23x | - |
Silkflex Polymers FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 25.7 | 334.8 | 28.1 | -40.7 | 15.3% |
| FY23 | 7.9 | 342.1 | 0.1 | -9.5 | 7.6% |
| FY22 | 6.9 | 278.2 | -42.9 | -53.4 | 6.7% |
| FY21 | 4.5 | 207.5 | -1.7 | -16.2 | 7.1% |
Silkflex Polymers IPO SUBSCRIPTION STATUS DETAILS
Silkflex Polymers had 3.5 M shares on offer
Silkflex Polymers IPO offer price was ₹52
Silkflex Polymers IPO minimum Investment was ₹104000
Silkflex Polymers IPO issue size was ₹ 181.1 M
Silkflex Polymers had a minimum lot size of 2000 Shares per application
Silkflex Polymers NUMBER OF SHARES ON OFFER
Silkflex Polymers IPO IMPORTANT DATES
| Issue Open Date | 07 May 2024 |
| Issue close Date | 10 May 2024 |
| Allotment Date | 13 May 2024 |
| Refund Date | 14 May 2024 |
| Demat Account Credit Date | 14 May 2024 |
| Listing Date | 15 May 2024 |
| Listing on Exchange(s) | NSE |
| Silkflex Polymers Allotment Status | Exchange |
Silkflex Polymers IPO subscription opened on 07 May 2024, and closed on 10 May 2024
IPO allotment for Silkflex Polymers was finalized on Monday, 13 May 2024
IPO listing for Silkflex Polymers was on NSE on Wednesday, 15 May 2024
Silkflex Polymers IPO LISTING GAINS
| Issue Price (adjusted) | 52.0 |
| Listing Open Price | 60.0 |
| Listing Close Price | 58.7 |
| Listing Gain% | 15.4% |
| Current Gain% | 287.8% |
Silkflex Polymers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Silkflex Polymers (India) Ltd. | 201.6 | 234.1 | 19.3 | 0.3 | 2.1 | 25.6 | 9.2 | 110.8 | 37.6 | 12.2 | 73.6 | 10.5 | 73.6 |
| Sheela Foam Ltd. | 677.4 | 7397.4 | 34.5 | 0.1 | 1.8 | 4.9 | 3.1 | 3875.1 | 8.5 | 159.6 | 66.1 | 19.6 | 273.1 |
| Greenlam Industries Ltd. | 273.7 | 6983.4 | 75.1 | 0.4 | 2.2 | 4.8 | 1.9 | 3054.3 | 18.4 | 56.3 | -19.3 | 3.6 | 172.9 |
| Responsive Industries Ltd. | 169.4 | 4517.4 | 30.4 | -1.2 | 3.2 | 9.5 | 8 | 1404.2 | -1.6 | 148.4 | -25.4 | 5.6 | -25.4 |
| Wakefit Innovations Ltd. | 127.8 | 4233.1 | 21.9 | 2.7 | 16.7 | 10.8 | 1534.4 | 17.5 | 189.2 | 640.4 | 5.8 | ||
| Euro Pratik Sales Ltd. | 314.1 | 3210.1 | 41.6 | 85.9 | 9.6 | 24.9 | 19.4 | 343 | 17.7 | 77.1 | 0.5 | 7.5 | 0.5 |
Silkflex Polymers INFORMATION ON IPO ISSUE
About Silkflex Polymers
Silkflex Polymers (India) was incorporated on May 13, 2016. The company is engaged in trading textile printing inks and water-based wood coating polymers products from Silkflex, a Malaysian-based brand.
Object of the Issue
- Acquisition of land
- Funding of capital expenditure requirements of the company towards the purchase of plant and machinery
- Funding working capital requirements of the company
- General corporate purposes
Silkflex Polymers - PROMOTERS
| Name |
|---|
| Tushar Lalit Kumar Sanghavi |
| Urmi Raj Mehta |
| Tushar Lalitkumar Sanghavi HUF |
| Lalitbhai H Sanghvi HUF |
Silkflex Polymers Lead Manager of the Issue
Sherni Shares Limited
shrenishares@gmail.com
Silkflex Polymers Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Silkflex Polymers Strengths
ZDHC certified
Silkflex products are certified to ZDHC Confidence Level 3. The ZDHC program aims to eliminate harmful chemicals from production and the supply chain to protect workers, consumers, and the environment.
Wide range of products
Over the past several years, the company's product mix has evolved as it has entered new product categories. It now deals in a large number of products and offers a wide range of printing ink products used in the textiles and garments industry
Strong marketing practices
The efficiency of the marketing and sales network is critical to the success of the company. It creates distinctive marketing and advertising campaigns that generate high customer engagement
Silkflex Polymers Risks
Certain outstanding litigation
There are certain outstanding litigations against the company, which may adversely affect the business, reputation and results of operations
Negative cash flows
The company has had negative cash flows in the past. Sustained negative cash flow could impact its growth and business
Significant competitive pressures
The company faces significant competitive pressures from other players in the business as the industry segments in which it operates are fragmented. Its inability to compete effectively would be detrimental to the business
IPO FAQs
The promoters of the company are Tushar Lalit Kumar Sanghavi, Urmi Raj Mehta, Tushar Lalitkumar Sanghavi HUF and Lalitbhai H Sanghvi HUF.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 52.0 - 52.0.
The IPO application opens on May 07, 2024 and closes on May 10, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 104,000.0, the maximum value for this IPO is Rs 104,000.0.
This IPO will be allotted on May 13, 2024.
The refund will be credited to your account on May 14, 2024.
The allotted shares will be credited to your demat on May 14, 2024.
Silkflex Polymers Ltd.’s shares listed on the stock exchanges on May 15, 2024.