Solve Plastic Products Limited (NSE SME)

Aug 13, 2024 - Aug 16, 2024

Price ₹91 - ₹91
Premium ₹7
Lot size 1200
Allotment Aug 19, 2024
Listing Aug 21, 2024

Category Lot(s) Qty Amount Reserved
Retail 1 1200 109200 515
HNI 2 2400 218400 515

Last updated on 16-Aug-2024 18:46:02

CategoryOfferedAppliedTimes
NIB6180001221240019.76
RETAIL6180002980440048.23
Total12360004201680033.99
Retail Apps24837© IPO Premium
HNI Interest Cost Per Share (7 Days)
@7%
₹2.41
@8%
₹2.76
@9%
₹3.1
@10%
₹3.45
@11%
₹3.79
@12%
₹4.14
About

Solve Plastic Products IPO Reservation

Investor CategoryShares OfferedNo. of Shares
Retail47.5%618000
Other47.5%618000
Market Maker5.07%66000
Total No. of Shares100.0%1302000

Solve Plastic Products IPO Details

Issue Size1,302,000 shares
(aggregating up to ₹11.85 Cr)
Fresh Issue1,302,000 shares
(aggregating up to ₹11.85 Cr)
Issue TypeFixed Price Issue IPO
Listing AtNSE SME
Share holding pre issue3,066,250
Share holding post issue4,368,250
Market Maker portion66,000 shares

Key Performance Indicator

KPIMar-24Mar-23Mar-22
RONW32.47%62.46%-56.31%
EPS
(basic)
4.663.96-1.34
P/E
Pre IPO
23.2
P/E
Pre IPO
28.1

Company Financials

Solve Plastic Products Limited Financial Information (Restated)

PeriodDec 2023Mar 2023Mar 2022Mar 2021
Assets1,975.711,874.271,822.992,133.28
Revenue3,492.146,225.435,577.894,237.84
Profit106.01120.27-40.71-15.37
Net Worth402.32192.5672,29,000113.01
Reserves95.69-110.94-231.21-190.49
Borrowing1,067.731,053.421,030.431,271.55
Amount in ₹ Lakhs

About Company

Solve Plastic Products Limited, established in 1994, is a prominent manufacturer of uPVC pipes and Rigid PVC electrical conduits, marketed under the brand name "BALCOPIPES." With three manufacturing units in Kerala and one in Tamil Nadu, the company has a robust production capacity. Their product range, which includes solvent cement, water tanks, garden hoses, and rigid PVC electrical cables, is widely recognized and approved by key authorities such as the Bureau of Indian Standards (BIS) and organizations like the Central Public Works Department (CPWD) in Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, and Public Works Departments (PWD) of Kerala and Tamil Nadu, among others. Although Solve Plastic Products Limited primarily distributes its products within Kerala, its reputation for quality is well-established. The company employs a total of 165 individuals, excluding the managing directors, and continues to be a trusted name in the industry.

Lead Manager(s)

Finshore Management Services Limited

Strength

Established and Proven Track Record: Solve Plastic Products Limited has a long-standing reputation in the industry since its founding in 1994, consistently delivering quality products under the "BALCOPIPES" brand.
 

Experienced Leadership: The company benefits from the extensive experience of its promoters, who have successfully guided the business through years of growth and market challenges.
 

Skilled Management and Workforce: With an experienced management team and a motivated, efficient workforce of 165 employees, the company is well-positioned to maintain its high standards and continue its success in the industry.

Weakness

Legal Proceedings: The company, along with its directors, promoters, and group companies, is involved in certain legal proceedings. Any adverse outcomes could significantly impact its business operations, financial health, and overall results.

Expansion Challenges: The company faces potential risks if it fails to successfully implement its proposed expansion plans. Delays or setbacks in these plans could adversely affect its operational results and financial condition.

Procurement Delays: The company has yet to place orders for the machinery needed for the expansion of its manufacturing facility. Any delays in ordering or procuring this machinery could disrupt the expansion timeline, potentially leading to increased costs and delayed commencement of operations.

Registrar
Integrated Registry Management Services Private Limited
Phone: 044 - 28140801 to 28140803
Email: smeipo@integratedindia.in
Website: https://www.integratedregistry.in/registrarstosta.aspx?od=1