Solve Plastic Products Ltd. was incorporated on October 04, 1994. The company is engaged in manufacturing a comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits. The company has three well-equipped manufacturing facilities in Kerala and one well-equipped manufacturing facility in Tamil Nadu.
| Bidding Dates |
|---|
| 13 Aug 2024 - 16 Aug 2024 |
| Subscription |
|---|
| 28.68x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,09,200 | 1 | 1 | 1200 | 1.3 M | ₹91 | 63.33 % | ₹118.5 M | RHP DOC |
Solve Plastic IPO SUBSCRIPTION STATUS
16 Aug '24Solve Plastic IPO overall subscription rate was 28.68 times the total available shares
Solve Plastic IPO retail subscription rate was 40.68 times in the retail segment
Solve Plastic IPO non-institutional investor subscription rate was 14.8 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
16 Aug 2024 (Day 4) | 40.68x | 14.8x | - |
14 Aug 2024 (Day 3) | 10.95x | 1.64x | - |
13 Aug 2024 (Day 2) | 3.28x | 0.33x | - |
13 Aug 2024 (Day 1) | 0.88x | 0.08x | - |
Solve Plastic 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 |
| FY24 | 14.2 | 461.9 | 20.7 | 3.0 | 5.6% |
| FY23 | 12.0 | 607.7 | 21.4 | 14.9 | 3.2% |
| FY22 | -4.1 | 550.7 | 53.0 | 46.4 | 1.9% |
Solve Plastic IPO SUBSCRIPTION STATUS DETAILS
Solve Plastic had 1.3 M shares on offer
Solve Plastic IPO offer price was ₹91
Solve Plastic IPO minimum Investment was ₹109200
Solve Plastic IPO issue size was ₹ 118.5 M
Solve Plastic had a minimum lot size of 1200 Shares per application
Solve Plastic NUMBER OF SHARES ON OFFER
Solve Plastic IPO IMPORTANT DATES
| Issue Open Date | 13 Aug 2024 |
| Issue close Date | 16 Aug 2024 |
| Allotment Date | 19 Aug 2024 |
| Refund Date | 20 Aug 2024 |
| Demat Account Credit Date | 20 Aug 2024 |
| Listing Date | 21 Aug 2024 |
| Listing on Exchange(s) | NSE |
| Solve Plastic Allotment Status | Exchange |
Solve Plastic IPO subscription opened on 13 Aug 2024, and closed on 16 Aug 2024
IPO allotment for Solve Plastic was finalized on Monday, 19 Aug 2024
IPO listing for Solve Plastic was on NSE on Wednesday, 21 Aug 2024
Solve Plastic IPO LISTING GAINS
| Issue Price (adjusted) | 91.0 |
| Listing Open Price | 102.0 |
| Listing Close Price | 107.1 |
| Listing Gain% | 12.1% |
| Current Gain% | -81.2% |
Solve Plastic 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Solve Plastic Products Ltd. | 17.2 | 7.5 | 17.1 | -0.2 | 0.2 | 4.2 | 1.5 | 46.1 | 10.2 | 0.4 | 109.1 | 1 | -109.1 |
| Supreme Industries Ltd. | 3442 | 43722.7 | 42.4 | 2.6 | 3.9 | 15.5 | 12.2 | 11262.5 | 7.2 | 954 | -0.7 | 81.3 | 16 |
| Astral Ltd. | 1444 | 38793.1 | 72.3 | 29.6 | 5.9 | 13.2 | 9.2 | 6615.9 | 12.6 | 536.6 | 2.4 | 20 | 2.4 |
| Shaily Engineering Plastics Ltd. | 3162.3 | 14531.6 | 82.2 | 1.6 | 14.2 | 23.7 | 14.8 | 998.4 | 26.5 | 169.9 | 82.5 | 38.5 | 51.3 |
| Finolex Industries Ltd. | 164.4 | 10202.5 | 16.6 | 0.3 | 2.6 | 9.6 | 7.9 | 4324.8 | -1.5 | 599 | -25.1 | 9.9 | 54.8 |
| Time Technoplast Ltd. | 204.9 | 10113.6 | 20.6 | 1 | 1.6 | 11.5 | 8.3 | 6114.4 | 11.9 | 468.7 | 20.8 | 9.9 | 21.3 |
Solve Plastic INFORMATION ON IPO ISSUE
About Solve Plastic
Solve Plastic Products Ltd. was incorporated on October 04, 1994. The company is engaged in manufacturing a comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits. The company has three well-equipped manufacturing facilities in Kerala and one well-equipped manufacturing facility in Tamil Nadu.
Object of the Issue
- 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
Solve Plastic - PROMOTERS
| Name |
|---|
| Sudheer Kumar Balakrishnan Nair |
| Susil Balakrishnan Nair |
| Balakrishnan Nair |
| Govind Vinodkumar |
| Aravind Sudheer Kumar |
| Shankar Sudheer Kumar |
Solve Plastic Lead Manager of the Issue
Finshore Management Servives Limited
info@finshoregroup.com
Solve Plastic Registrar to the issue
Integrated Registry Management Services (P) Limited
smeipo@integratedindia.in
Solve Plastic Strengths
Relationship with suppliers
The company has strong relationship with suppliers will enable it to continue to grow its business. Due to their relationships with the suppliers, they get quality and timely supplies of raw materials which enables them to manage the inventories and supply quality products on a timely basis to its customers.
Cost effective production
The company has taken various steps to ensure adherence to timely fulfillment and also to achieve greater cost efficiency. It constantly endeavors to implement an efficient procurement policy for inputs required for production to ensure cost efficiency in procurement which in turn results in cost-effective production.
Solve Plastic Risks
Dependent on single business segment
The company's revenue is dependent on a single business segment i.e. PVC Pipe & Electrical Conduit. An inability to anticipate or adapt to the evolving upgradation of these products or a reduction in the demand for these products may adversely impact its revenue from operations and growth prospects.
Few customers
A substantial portion of the company's revenues has been dependent upon a few customers. The loss of any one or more of its major customers would have a material effect on the business operations and profitability. Its top ten customers accounted for approximately 60.24% of revenue in FY24
Competitive Market
The company faces increasing competition from its existing and potential competitors in India and in overseas markets that may have greater brand recognition, longer operating histories, and greater financial, and product development access to a cheaper cost of capital and other resources.
IPO FAQs
The promoters of the company are Sudheer Kumar Balakrishnan Nair, Susil Balakrishnan Nair, Balakrishnan Nair, Govind Vinodkumar, Aravind Sudheer Kumar and Shankar Sudheer Kumar.
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 91.0 - 91.0.
The IPO application opens on Aug 13, 2024 and closes on Aug 16, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 109,200.0, the maximum value for this IPO is Rs 109,200.0.
This IPO will be allotted on Aug 19, 2024.
The refund will be credited to your account on Aug 20, 2024.
The allotted shares will be credited to your demat on Aug 20, 2024.
Solve Plastic Products Ltd.’s shares listed on the stock exchanges on Aug 21, 2024.