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What is the business of Polysil Irrigation Systems?

The Company is engaged in manufacturing and sale of HDPE pipes, fittings and micro irrigation systems, such as drip irrigation system and sprinkler irrigation system, its components, accessories and allied products.
As a manufacturer and seller of drip and sprinkler irrigation system its product range includes HDPE Pipes, pipe fittings and irrigation equipment’s, including disc filters, screen filters, hydro-cyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanicals), fertilizer tanks, Digital Controllers, Pressure Gauges, etc. It sells these products under the brand “Polysil”.
It sells its products through institution markets and open market sale. Under the open market sale, it sells its products through distributors and dealers, who then resell the products to customers i.e. farmers.

As of July 31, 2023, it sold its products through 8 distributors and around 425 dealers in India. Its end customers are eligible to receive government subsidy, the process for disbursal of such subsidy is managed by its distributor / dealers and/or its customers. It operates in the state of Gujarat, Tamil Nadu,
Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. We operate in the State of Maharashtra, Madhya Pradesh and Rajasthan through its dealer / distributor network and in the State of Andhra Pradesh, Gujarat, Tamil Nadu, Haryana and Uttar Pradesh under institutional model.

Its existing manufacturing unit is spread around 100,000 sq. ft. area is situated at RS NO.340/1, Beside Hystuff Steel,Village Rania, Taluka. Savli, Dist.Vadodara Manjusar, Vadodara, Gujarat is equipped with requisite plant and machineries and other facilities. It also has in-house testing laboratory for quality control checks and testing our products.

Get more information about the company @ https://polysilirrigation.com/

Who are the Promoters of Polysil Irrigation Systems IPO?
Bharatkumar Patel and Prafulbhai Radadia are the promoters of the company.

What are the Objects of Polysil Irrigation Systems IPO?

The Offer comprises of afresh issue of capital and offer for sale.

The company proposes to utilize the Net Proceeds from the Offer towards the following objects:

Funding our Working Capital Requirements; and
General Corporate Purpose.

 

Polysil Irrigation Systems IPO To the point Guidance
The Company is engaged in manufacturing and sale of HDPE pipes, fittings and micro irrigation systems, such as drip irrigation system and sprinkler irrigation system, its components, accessories and allied products.
As a manufacturer and seller of drip and sprinkler irrigation system its product range includes HDPE Pipes, pipe fittings and irrigation equipment’s, including disc filters, screen filters, hydro-cyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanicals), fertilizer tanks, Digital Controllers, Pressure Gauges, etc. It sells these products under the brand “Polysil”.
Size: Being a SME IPO, the size of the IPO (Rs 17.44 Cr) is not all at large, as per the recent trend. With 807 applications, retail portion will get one time subscribed. So, considering, the hunger of the investors, IPO may get oversubscribed easily.
Financial Snapshot: The company has shown strong topline and the bottom-line during last 3 financial years. The IPO is somewhat high priced. The name of the lead manager is one more feather for this IPO. Before applying, Do have a look at the Premium market and then take final decision.

Quicklinks

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Polysil Irrigation Systems IPO GMP Detail IPO GMP today details?

Polysil Irrigation Systems IPO

Polysil Irrigation Systems IPO FAQs
What is Polysil Irrigation Systems IPO?
Polysil Irrigation Systems IPO is a SME IPO of 3229000 equity shares of the face value of Rs. 10 aggregating up to Rs.17.44 Crores. The issue is priced at Rs.54 per share. The minimum order quantity is 2000 Shares.
When Polysil Irrigation Systems IPO will open?
Polysil Irrigation Systems IPO opens on February 8, 2024, and closes on February 13, 2024.

What is the lot size of Polysil Irrigation Systems IPO?
Polysil Irrigation Systems IPO lot size is 2000 Shares, and the minimum amount required is Rs.108000.

How to apply for Polysil Irrigation Systems IPO?
You can apply in Polysil Irrigation Systems IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

When is Polysil Irrigation Systems IPO allotment?
The finalization of Basis of Allotment for Polysil Irrigation Systems IPO will be done on February 14, 2024, and the allotted shares will be credited to your demat account by February 15, 2024.

When is Polysil Irrigation Systems IPO listing date?
Polysil Irrigation Systems IPO listing date is not yet announced. The tentative date of Megatherm Induction IPO listing is February 16, 2024.