Premium Plast Ltd. was incorporated on November 14, 1995. The company designs, manufactures, and supplies exterior plastic components, interior cabin components, and under-the-hood components directly to commercial vehicle OEMs. As an IATF-16949, ISO 9001:2015, and ISO 14001:2004 certified manufacturer, it produces a wide variety of plastic articles, specializing in over 600 automotive parts across three strategically located facilities in India
| Bidding Dates |
|---|
| 21 Oct 2024 - 23 Oct 2024 |
| Subscription |
|---|
| 36.96x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,38,000 | 1 | 1 | 3000 | 5.3 M | ₹46 - ₹49 | 68.73 % | ₹245.9 M - ₹262.0 M | RHP DOC |
Premium Plast Ltd. IPO SUBSCRIPTION STATUS
23 Oct '24Premium Plast Ltd. IPO overall subscription rate was 36.96 times the total available shares
Premium Plast Ltd. IPO retail subscription rate was 62.06 times in the retail segment
Premium Plast Ltd. IPO non-institutional investor subscription rate was 18.68 times in the non-institutional investor category
Premium Plast Ltd. IPO Qualified Institutional Bidder subscription rate was 6.4 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 44.98% | 44.98% | 10.04% |
23 Oct 2024 (Day 3) | 62.06x | 18.68x | 6.4x |
22 Oct 2024 (Day 2) | 16.15x | 2.11x | 0.95x |
21 Oct 2024 (Day 1) | 6.7x | 0.83x | 0.95x |
Premium Plast 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 | 14.1 | 121.3 | -5.0 | -5.0 | 16.0% |
| FY24 | 47.8 | 467.1 | 17.1 | -15.2 | 13.8% |
| FY23 | 15.9 | 440.4 | 36.0 | 13.2 | 5.0% |
| FY22 | 7.8 | 309.9 | 53.8 | 36.9 | 3.1% |
Premium Plast Ltd. IPO SUBSCRIPTION STATUS DETAILS
Premium Plast Ltd. had 5.3 M shares on offer
Premium Plast Ltd. IPO offer price was in the range ₹46 - ₹49
Premium Plast Ltd. IPO minimum Investment was ₹138000
Premium Plast Ltd. IPO issue size was ₹ 245.9 M - ₹ 262.0 M
Premium Plast Ltd. had a minimum lot size of 3000 Shares per application
Premium Plast Ltd. NUMBER OF SHARES ON OFFER
Premium Plast Ltd. IPO IMPORTANT DATES
| Issue Open Date | 21 Oct 2024 |
| Issue close Date | 23 Oct 2024 |
| Allotment Date | 24 Oct 2024 |
| Refund Date | 25 Oct 2024 |
| Demat Account Credit Date | 25 Oct 2024 |
| Listing Date | 28 Oct 2024 |
| Listing on Exchange(s) | NSE |
| Premium Plast Ltd. Allotment Status | Exchange |
Premium Plast Ltd. IPO subscription opened on 21 Oct 2024, and closed on 23 Oct 2024
IPO allotment for Premium Plast Ltd. was finalized on Thursday, 24 Oct 2024
IPO listing for Premium Plast Ltd. was on NSE on Monday, 28 Oct 2024
Premium Plast Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 49.0 |
| Listing Open Price | 51.5 |
| Listing Close Price | 48.9 |
| Listing Gain% | 5.0% |
| Current Gain% | -20.4% |
Premium Plast 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Premium Plast Ltd. | 39 | 74.5 | 10.8 | 1.7 | 1 | 11.4 | 8.3 | 75.8 | 32.5 | 6.9 | 6.5 | 3.6 | 6.5 |
| 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 |
Premium Plast Ltd. INFORMATION ON IPO ISSUE
About Premium Plast Ltd.
Premium Plast Ltd. was incorporated on November 14, 1995. The company designs, manufactures, and supplies exterior plastic components, interior cabin components, and under-the-hood components directly to commercial vehicle OEMs. As an IATF-16949, ISO 9001:2015, and ISO 14001:2004 certified manufacturer, it produces a wide variety of plastic articles, specializing in over 600 automotive parts across three strategically located facilities in India
Object of the Issue
- Expansion of existing manufacturing facility at Pithampur, Madhya Pradesh, and purchase of machinery
- Funding of capital expenditure requirement of the company towards set up of a Rooftop On-Grid Solar Power Plant at the existing manufacturing facility
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- General corporate purpose
- Offer related expenses
Premium Plast Ltd. - PROMOTERS
| Name |
|---|
| Chetan Nagendra Dave |
| Lopa Chetan Dave |
Premium Plast Ltd. Lead Manager of the Issue
Khandwala Securities Limited
ipo@kslindia.com
Premium Plast Ltd. Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Premium Plast Ltd. Strengths
Diverse specialised plastic products
The company's ability to continuously diversify and develop products, supported by strategically located manufacturing facilities, allows it to launch new items that align with evolving consumer preferences. It specialises in automotive parts and has produced over 600 components across three sites in India, also offering plastic industrial and packaging components for various industries
Robust design optimisation capabilities
The company relies on integrated, location-focused manufacturing operations, strong design capabilities, and a commitment to quality and cost efficiency to achieve customer satisfaction and loyalty, generating repeat business. The evolving product portfolio and ability to offer customised manufacturing solutions are driven by strong design capabilities.
Sustainable business development
The company is a socially and ethically compliant manufacturer of automotive parts, plastic industrial components, and packaging components. Its sustainable business model focuses on reusing waste plastic, reducing waste and raw material costs, and achieving ‘zero-discharge’ in their manufacturing units
Premium Plast Ltd. Risks
Dependent on major clients
The company depends on major customers without firm agreements, meaning the loss or reduced purchases from these clients, or a lack of success in a key vehicle model it supplies, could negatively impact the business and financial health
Reliance on injection and blow molding
The company heavily relies on its automotive molding products division (injection and blow molding) for a substantial portion of revenue, so any interruption or loss of customers in this area could negatively impact its business and operations
Dependent on passenger vehicle performance
The company is heavily reliant on the performance of the passenger vehicle market in India, and any adverse changes in this market could negatively impact its business, operations, and financial condition
IPO FAQs
The promoters of the company are Chetan Nagendra Dave and Lopa Chetan Dave.
The category allocation of qualified institutional buyers is 10.0%, the category allocation of non individual investors or high networth individuals is 45.0% and for retail investors it is 45.0%.
The price band of the IPO is Rs 46.0 - 49.0.
The IPO application opens on Oct 21, 2024 and closes on Oct 23, 2024.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 138,000.0, the maximum value for this IPO is Rs 147,000.0.
This IPO will be allotted on Oct 24, 2024.
The refund will be credited to your account on Oct 25, 2024.
The allotted shares will be credited to your demat on Oct 25, 2024.
Premium Plast Ltd.’s shares listed on the stock exchanges on Oct 28, 2024.