Solve Plastic IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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Solve Plastic listing Review
The scrip got listed on 21 August 2024 at Rs. 102. The listing was at 12.09% premium
Solve Plastic IPO allotment Link
What is the latest grey market premium of Solve Plastic IPO?
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Subscription status of Solve Plastic IPO
Solve Plastics IPO (Closed)Price Rs. 91 Lot 1200 shares, Rs. 11.85 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 19.47 | 46.76 | 34.23 | 24,080 (46.76x) | |
| Amount wise bids recd. Rs.405.63 Crore | ||||
| Note: Not so impressive subscriptions | ||||
What is the business of Solve Plastic?
SOLVE PLASTIC PRODUCTS LIMITED is an ISO 9001:2015 and Bureau of Indian Standards IS 4985:2021, 3419:1988, 9537: Part 3:1983 certified company engaged in manufacturing of comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits.
The Company is committed towards constant innovations in drinking water piping solutions and electrical conduit fittings technologies to meet the constantly increasing demands. The company has 3 (three) well-equipped manufacturing facility at Kerala and 1 (one) well-equipped manufacturing facility at Tamil Nadu. It has the latest technology and equipment that helps in the production of high-quality uPVC pipes and Electrical Conduits of different sizes. Its manufacturing facilities is fully automated. The company also has a well-trained team of engineers, technicians and operators that helps in the production and quality control of the products.
Get more information about the company @ www.balcopipes.com
Solve Plastic IPO Details |
|
| IPO opens on | 13 August 2024 |
| IPO closes on | 16August 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1302000 Shares / Rs 11.85 Crore |
| * Fresh Issue | 1302000 Shares / Rs 11.85 Crore |
| * Offer for Sale – | – |
| Market Maker Portion | 66000 Shares |
| Net offer to Public | 1236000 Shares/ Rs.11.24 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs.91 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
||
| Shares | Rs. (Crore) | |
| QIB (0%) | – | – |
| NII (50%) | 618000 | 5.62 |
| RII (50%) | 618000 | 5.62 |
| Total Shares | 1236000 | 11.24 |
| Retail portion will be oversubscribed by | 515 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1200 Shares | Rs.109200 |
| Min HNI Application | 2400 Shares | Rs.109200 |
Who are the Promoters of Solve Plastic IPO?
The Promoters of the Company are (i) Mr. Sudheer Kumar Balakrishnan Nair, (ii) Mr. Susil Balakrishnan Nair and (iii) Mr. Balakrishnan Nair
What are the Objects of Solve Plastic IPO?
The Offer comprises of only fresh issue of shares.
The Objects of the Issue are:
A. Funding Capital Expenditure towards purchase of additional plant and machinery
B. To meet the Working Capital Requirements
C. To meet the Issue Expenses
D. General Corporate Purposes
Tentative timetable |
|
| IPO opens on | 13 August 2024 |
| IPO Closes on | 16 August 2024 |
| IPO Allotment on | 19 August 2024 |
| Refund Initiation | 20 August 2024 |
| Credit of Shares | 20 August 2024 |
| Listing on | 21 August 2024 |
| Registered Office of the Company Door No XIII/690/ABC, Tholicode, Punalur, Kollam, Kerala- 691333, India |
| Who is the Lead Manager of this IPO? FINSHORE MANAGEMENT SERVICES Ltd |
|
Who is the Registrar to IPO? |
Solve Plastic IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Solve Plastic IPO Financial & Analytical Ratios |
||||
| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 55.78 | -0.41 | -1.34 | -56.31 |
| 2022-23 | 62.25 | 1.20 | 3.96 | 62.46 |
| 2023-24 9M | 34.92 | 1.06 | 3.47 | 26.35 |
| Book Value of the Share on 31.12.2023 |
Rs | 13.17 | ||
| BV of the Share at cap price after IPO |
Rs. | 36.25 | ||
| Offer Price/upper band | Rs. | 91 | ||
IPO
|
|
| Price/EPS of 22-23 | 22.98 |
| Price/BV Ratio | |
| Price/BV after IPO | 2.51 |
How Solve Plastic IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
| Solve Plastic | 10 | 60.97 | 22.98 |
| Captain Pipes | 1 | 85.50 | 146.15 |
| Rungta Irrigation | 10 | 130.13 | 22.87 |
| Dutron Polymers | 10 | 131.91 | 35.93 |
| AIK Pipes | 10 | 30.48 | 28.81 |
# 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.
Solve Plastic IPO Review
Ais an ISO 9001:2015 and Bureau of Indian Standards IS 4985:2021, 3419:1988, 9537: Part 3:1983 certified company engaged in manufacturing of comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits.
Size: Net size of the IPO is Rs.11.24 crore, comprising of 1236000 shares. Huge oversubscription is not ruled out.
Financial Snapshot: The shares are offered at PE multiple of 22.98, which is quite reasonable compared to the PE ratios of peer group companies. The size of the IPO is very small and hence oversubscription and interest costs are expected to be high. Chances of good listing gains are high.
+ from fundamental angle: Apply
+ from grey market angle: ?
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Solve Plastic IPO FAQs
What is Solve Plastic IPO?
This is a SME IPO of 1302000 equity shares of the face value of Rs. 10 aggregating up to Rs.11.85 Crores. The issue is priced at Rs.91 per share. The minimum order quantity is 1200 Shares.
When will Solve Plastic IPO subscription open?
Solve Plastic IPO opens on August 13, 2024, and closes on August 16, 2024.
What is the lot size of Solve Plastic IPO?
Solve Plastic IPO lot size is 1200 Shares, and the minimum amount required is Rs.109200
How to apply for Solve Plastic IPO?
You can apply in Broach Lifecare 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 Solve Plastic IPO allotment?
The finalization of Basis of Allotment for Solve Plastic IPO will be done on August 19, 2024, and the allotted shares will be credited to your demat account by August 20, 2024.
When is Solve Plastic IPO listing date?
Solve Plastic IPO listing date is August 21, 2024.
