May 15, 2024
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Silkflex Polymers IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
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Table of Contents
Silkflex Polymers IPO Post Listing Review:
Listed at Rs. 60, premium of 15.38% over the issue price of Rs. 138. The listing has been above the expectations of the grey market players.
What is the latest GMP of Silkflex Polymers IPO?*
Premium: Rs.7
Subject to Rs.10600
Check Subscription status of Silkflex Polymers IPO
On 10 May 2024 @ 5.00 (Day 4)
Review: Ok response on Day 4
NII: 36.59 T
RII: 35.97 T
Total: 39.30 T
Applications: 29711
What is the business of Silkflex Polymers?
The Company is engaged in the trading of the textile printing inks and water-based wood coating polymers products of a Malaysian based brand- “Silkflex” produced by Silkflex Polymers SDN BHD (“Silkflex Malaysia”). Silkflex Malaysia, are one of the garment printing ink manufacturers of Malaysia. Silkflex Malaysia manufactures its products through its manufacturing unit located in Malaysia and the same products are then supplied around the globe through its authorised agents. The list of countries where Silkflex Malaysia supplies the products includes India, Thailand, Turkey, Russia, Sri Lanka, Bangladesh and Indonesia. The Company have the right to sell the products of Silkflex and the rights to use the brand name of Silkflex in India.
The Company offers a wide variety of products which consists of 108 textile printing ink products and 51 wood coating polymers products. The Company has entered into an agreement with Silkflex Malaysia on October 01, 2016, for distribution and selling, the water-based textile printing inks products of Silkflex. We also entered into agreement with Silkflex Malaysia on October 01, 2019 for distribution and selling, the wood coating polymers products of Silkflex Malaysia. These agreements also give it the rights to use the brand name of Silkflex in India. Further, by virtue of Technology Transfer Agreement (“TTA”) dated July 25, 2023, Silkflex Malaysia has permitted it to be the manufacturer
of its products in India.
Silkflex products are certified to ZDHC Confidence Level 3 (Zero Discharge of Hazardous Chemicals).
Get more information about the company @ https://silkflexindia.in/
| Silkflex Polymers IPO Details | |
| IPO opens on | 7 May 2024 |
| IPO closes on | 10 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3482000 Sh /Rs 18.11 Cr |
| * Fresh Issue | 3482000 Sh /Rs 18.11 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 178000 Sh. |
| Net offer to Public | 3304000 Sh./Rs.17.18 Cr |
| Face Value per share | Rs. 10 |
| Price Band | Rs.52 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | NSE SME |
| Shares offered in Silkflex Polymers IPO | ||
| Shares | Rs. (Cr) | |
| QIB (0%) | – | – |
| NII (50%) | 1652000 | 8.59 |
| RII (50%) | 1652000 | 8.59 |
| Total Shares | 3304000 | 17.18 |
| Retail portion will be oversubscribed by | 826 | |
| Forms | ||
| How much Shares to Apply in Silkflex Polymers IPO? | ||
| Min Retail Application | 2000 Sh | Rs. 104000 |
| Min HNI Application | 4000 Sh | Rs.208000 |
Who are the Promoters of Silkflex Polymers IPO?
The Promoters of the Company are Mr Tushar Lalit Kumar Sanghavi, Ms Urmi Raj Mehta, M/s. Tushar Lalitkumar Sanghavi HUF and M/s. Lalitbhai H Sanghvi HUF.
What are the Objects of Silkflex Polymers IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
The objects of the present issue of Equity Shares are:
1.Acquisition of land;
2.Funding of capital expenditure requirements of the Company towards purchase of Plant and Machineries;
3.Funding Working Capital Requirements of the Company; and
4.General corporate purposes.
| Silkflex Polymers IPO Tentative timetable | |
| IPO opens on | 7 May 2024 |
| IPO Closes on | 10 May 2024 |
| IPO Allotment on | 13 May 2024 |
| Refund Initiation | 14 May 2024 |
| Credit of Shares | 14 May 2024 |
| Listing on | 15 May 2024 |
| Registered Office of the Company Silkflex Polymers (India) Limited Daga Complex Sulati Jaladhulagori Sankrail, Howrah-711302 |
| Who is the Lead Manager of Silkflex Polymers IPO? Shreni Shares Limited |
| Who is the Registrar to IPO? Bigshare Services Pvt Ltd |
| Silkflex Polymers IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 20.96 | 0.45 | 0.68 | 8.83 |
| 2021-22 | 28.05 | 0.69 | 0.85 | 9.29 |
| 2022-23 | 34.42 | 0.79 | 0.97 | 9.62 |
| Book Value of the Share on | 31.03.2023 | Rs 10.05 | ||
| BV of the Share at cap price | after the IPO | Rs. 30.82 | ||
| Offer Price/upper band | Rs. 67.00 | |||
| Silkflex Polymers IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | 53.76 |
| Price/BV Ratio | 6.70 |
| Upper price/BV after IPO | 2.17 |
How Silkflex Polymers IPO compares with the Peers?
How PE ratio of the company is arrived at is explained in our guidance given below:
| As per DRHP | FV | Total Income | PE Ratio |
| Rs. | In Cr. | @ | |
| Silkflex Polymers | 10 | 53.76 | |
| Basf India | 10 | 40.12 | |
| Heuback Colourants | 10 | 48.88 | |
| Berger Paints | 1 | 57.44 | |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Silkflex Polymers IPO To the point Guidance
The Company is engaged in the trading of the textile printing inks and water-based wood coating polymers products of a Malaysian based brand- “Silkflex” produced by Silkflex Polymers SDN BHD (“Silkflex Malaysia”). It doesnot have its own manufacturing.
Size: The net offer is of Rs. 17.18 Crore/3304000 shares. Retail portion is Rs. 8.59 crore and it can get one time subscribed with 826 applications. Though the size of the IPO is somewhat large, over subscription may not be an issue.
Financial Snapshot: The company is a trading company and its topline and bottomline show steady growth pattern. Peer group companies are manufacturing companies with solid technology setup and strong brand across the globe. Compared to peer companies, the shares of this trading company are offered at high valuation. May not bring high returns.
Quicklinks
Silkflex Polymers IPO GMP today details?
Silkflex Polymers IPO
Silkflex Polymers IPO FAQs
What is Silkflex Polymers IPO?
Silkflex Polymers is a SME IPO of 6700000 equity shares of the face value of Rs. 10 aggregating up to Rs.? Crores. The issue is priced at Rs.? per share. The minimum order quantity is ? Shares.
When will Silkflex Polymers IPO open?
Silkflex Polymers IPO opens on April ?, 2024, and closes on April ?, 2024.
What is the lot size of Silkflex Polymers IPO?
Silkflex Polymers IPO lot size is ? Shares, and the minimum amount required is Rs.?.
How to apply for Silkflex Polymers IPO?
You can apply in Silkflex Polymers 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 Silkflex Polymers IPO allotment?
The finalization of Basis of Allotment for Silkflex Polymers IPO will be done on April ?, 2024, and the allotted shares will be credited to your demat account by April ?, 2024.
When is Silkflex Polymers IPO listing date?
Silkflex Polymers IPO listing date is April ?, 2024.
