SPP Polymer was incorporated on August 27, 2004. The company manufactures HDPE/PP woven fabric and bags, non-woven fabrics and bags, and PP multifilament yarn. It provides packaging solutions to B2B manufacturers across various industries, including cement, chemicals, food grains, sugars, polymers, and agriculture, for bulk packaging of goods.
| Bidding Dates |
|---|
| 10 Sep 2024 - 12 Sep 2024 |
| Subscription |
|---|
| 39.08x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,18,000 | 1 | 1 | 2000 | 4.2 M | ₹59 | 69.38 % | ₹244.9 M | RHP DOC |
SPP Polymer Ltd. IPO SUBSCRIPTION STATUS
12 Sep '24SPP Polymer Ltd. IPO overall subscription rate was 39.08 times the total available shares
SPP Polymer Ltd. IPO retail subscription rate was 56.84 times in the retail segment
SPP Polymer Ltd. IPO non-institutional investor subscription rate was 21.32 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
12 Sep 2024 (Day 3) | 56.84x | 21.32x | - |
11 Sep 2024 (Day 2) | 19.76x | 2.92x | - |
10 Sep 2024 (Day 1) | 8.66x | 1.16x | - |
SPP Polymer Ltd. 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 |
| Q1FY25 | 9.1 | 282.0 | 4.7 | 4.7 | 7.2% |
| FY24 | 9.9 | 917.5 | 46.0 | 46.0 | 6.7% |
| FY23 | 5.4 | 660.5 | 38.0 | 38.0 | 4.0% |
| FY22 | 2.8 | 802.8 | -64.7 | -64.7 | 2.0% |
SPP Polymer Ltd. IPO SUBSCRIPTION STATUS DETAILS
SPP Polymer Ltd. had 4.2 M shares on offer
SPP Polymer Ltd. IPO offer price was ₹59
SPP Polymer Ltd. IPO minimum Investment was ₹118000
SPP Polymer Ltd. IPO issue size was ₹ 244.9 M
SPP Polymer Ltd. had a minimum lot size of 2000 Shares per application
SPP Polymer Ltd. NUMBER OF SHARES ON OFFER
SPP Polymer Ltd. IPO IMPORTANT DATES
| Issue Open Date | 10 Sep 2024 |
| Issue close Date | 12 Sep 2024 |
| Allotment Date | 13 Sep 2024 |
| Refund Date | 16 Sep 2024 |
| Demat Account Credit Date | 16 Sep 2024 |
| Listing Date | 17 Sep 2024 |
| Listing on Exchange(s) | NSE |
| SPP Polymer Ltd. Allotment Status | Exchange |
SPP Polymer Ltd. IPO subscription opened on 10 Sep 2024, and closed on 12 Sep 2024
IPO allotment for SPP Polymer Ltd. was finalized on Friday, 13 Sep 2024
IPO listing for SPP Polymer Ltd. was on NSE on Tuesday, 17 Sep 2024
SPP Polymer Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 59.0 |
| Listing Open Price | 63.0 |
| Listing Close Price | 59.9 |
| Listing Gain% | 6.8% |
| Current Gain% | -79.2% |
SPP Polymer Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SPP Polymer Ltd. | 12.2 | 18.9 | -4.5 | 0 | 0.2 | -9 | -5.1 | 113.4 | 4.1 | -4.2 | -469.8 | -2.7 | -469.8 |
| 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 |
SPP Polymer Ltd. INFORMATION ON IPO ISSUE
About SPP Polymer Ltd.
SPP Polymer was incorporated on August 27, 2004. The company manufactures HDPE/PP woven fabric and bags, non-woven fabrics and bags, and PP multifilament yarn. It provides packaging solutions to B2B manufacturers across various industries, including cement, chemicals, food grains, sugars, polymers, and agriculture, for bulk packaging of goods.
Object of the Issue
- Repayment of loan.
- Working capital requirement.
- General corporate purpose.
SPP Polymer Ltd. - PROMOTERS
| Name |
|---|
| Mahavir Bahety |
| Liladhar Mundhara |
| Dipak Goyal |
| Asharam Bahety |
SPP Polymer Ltd. Lead Manager of the Issue
Interactive Financial Services Limited
mbd@ifinservices.in
SPP Polymer Ltd. Registrar to the issue
KFin Technologies Limited
spppolymer.ipo@kfintech.com
SPP Polymer Ltd. Strengths
Product portfolio
The company believes that offering a diverse range of products and customizing them to meet customer requirements allows it to address the varied needs of different customer segments
Long-standing customer relationship
The company typically avoids long-term agreements with customers but has built enduring relationships, with some clients staying for over five years. It has successfully retained many customers due to strong connections and diverse product applications
Quality assurance
The company’s testing laboratory is fully equipped to test both raw materials and finished products. It monitors the entire process to ensure consistent product quality
SPP Polymer Ltd. Risks
Dependent on third party
The company does not have its own transportation facility and depends on third-party logistics for all stages of its operations, from sourcing products to distribution. Any disruptions in these services could negatively impact operations, business, cash flows, and financial condition
Competitive Industry
The industry in which the company operates is diverse, with competition from both large and small players, which may impact its business operations and financial condition
IPO FAQs
The promoters of the company are Mahavir Bahety, Liladhar Mundhara, Dipak Goyal and Asharam Bahety.
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 59.0 - 59.0.
The IPO application opens on Sep 10, 2024 and closes on Sep 12, 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. 118,000.0, the maximum value for this IPO is Rs 118,000.0.
This IPO will be allotted on Sep 13, 2024.
The refund will be credited to your account on Sep 16, 2024.
The allotted shares will be credited to your demat on Sep 16, 2024.
SPP Polymer Ltd.’s shares listed on the stock exchanges on Sep 17, 2024.