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Polysil Irrigation Systems Limited IPO
Polysil Irrigation is a fully integrated player within the Drip Irrigation and Sprinkler Irrigation sectors, with a significant presence in Micro Irrigation Industry. As a well-recognized industry leader, Polysil Irrigation has a Pan India reach and employing over 700 people across geographies, ethnicities and cultures. Polysil’s vast footprint allows the company to leverage business associations with a marquee of esteemed clients, especially with the Various State Government, Agriculture NGOs and Big Corporates. With a steadfast commitment to areas of Micro Irrigation, Farmer Empowerment and Agriculture Environment, Polysil works closely with local communities to touch, heal and better the lives of farmers around the Country.
Polysil Irrigation Systems IPO is a fixed price issue of Rs 17.44 crores. The issue is a combination of fresh issue of 14.44 lakh shares aggregating to Rs 7.80 crores and offer for sale of 17.85 lakh shares aggregating to Rs 9.64 crores. Polysil Irrigation Systems IPO price is ₹54 per share. The minimum lot size for an application is 2000 Shares. Fedex Securities Pvt Ltd is the book running lead manager of the Polysil Irrigation Systems IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Polysil Irrigation Systems IPO is Market-Hub Stock Broking.
Polysil Irrigation Systems IPO Overview
| Detail | Description |
|---|---|
| IPO Date | February 8, 2024 to February 13, 2024 |
| Listing Date | February 16, 2024 |
| Face Value | ₹10 per share |
| Price | ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,229,000 shares (aggregating up to ₹17.44 Cr) |
| Fresh Issue | 1,444,000 shares (aggregating up to ₹7.80 Cr) |
| Offer for Sale | 1,785,000 shares of ₹10 (aggregating up to ₹9.64 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,897,090 |
| Share holding post issue | 11,341,090 |
| Market Maker portion | 164,000 shares Market-Hub Stock Broking |
Polysil Irrigation Systems IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Thursday, February 8, 2024 |
| IPO Close Date | Tuesday, February 13, 2024 |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 13, 2024 |
Polysil Irrigation Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Polysil Irrigation Systems IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 164,000 (5.08%) |
| Other Shares Offered | 1,532,000 (47.46%) | Retail Shares Offered | 1,532,000 (47.46%) |
| Total Shares Offered | 3,228,000 (100%) |
Polysil Irrigation Systems IPO Promoter Holding
| Share Holding Pre Issue | 33.79% |
| Share Holding Post Issue | 29.49% |
Company & Financials
Polysil Irrigation Systems Limited was established in 1985 and manufactures and distributes HDPE pipes, fittings, and micro irrigation systems, such as drip irrigation systems and sprinkler irrigation systems as well as their components, accessories, and related products under the brand name Polysil. 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. PISL sells these products under the brand "Polysil".
Polysil Irrigation Systems Limited Financial Information
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 5,671.49 | 5,531.46 | 4,616.80 | 4,178.47 | ||||||||||||||||||||||||||||||||||||
| Revenue | 1,019.74 | 4,392.49 | 3,767.21 | 5,471.58 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 110.31 | 113.53 | 33.75 | 64.81 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,646.02 | 1,535.71 | 1,372.06 | 1,338.31 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 656.31 | 546.00 | 1,326.56 | 1,292.82 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,566.17 | 1,547.25 | 1,494.96 | 1,104.83 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 7.39% |
| ROCE | 12.81% |
| Debt/Equity | 1.01 |
| RoNW | 7.39% |
| P/BV | 3.48 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.15 | 2.33 |
| P/E (x) | 47.08 | 23.13 |
Objectives of Polysil Irrigation Systems IPO
The company proposes to utilize the Net Proceeds from the Offer towards the following objectives:
- 1. Funding our Working Capital Requirements.
- 2. General Corporate Purpose.
Polysil Irrigation Systems IPO Review
The company is operating in a highly competitive and fragmented segment. It marked erratic top and bottom lines for the reported periods. Super earnings for 4.5M of FY24 not only raise eyebrows, but also major concern over its sustainability going forward. Based on FY24 annualized earnings, the issue appears aggressively priced. There is no harm in skipping this pricey bet.
FAQs for Polysil Irrigation Systems IPO
-
What is Polysil Irrigation Systems Limited's IPO?
Polysil Irrigation Systems Limited IPO is a fixed-price IPO with a fresh issue as well as an offer for sale. The total capital to be raised is around ₹17.44 crore.
-
What Is The Allotment Date Of The Polysil Irrigation?
The allotment date of the Polysil Irrigation is February 14, 2024.
-
What Is The Price Band Of The Polysil Irrigation?
The Polysil Irrigation Company will issue shares at INR 54 per share.
-
What Is The Lot Size Of The Polysil Irrigation?
The lot size for the Polysil Irrigation IPO consists of 2000 shares per lot.
-
What Is The Listing Date Of The Polysil Irrigation?
The listing date of the Polysil Irrigation is February 16, 2024.
Polysil Irrigation Systems IPO Subscription Status
Category
Subscription (times)
Other
2.12
Retail
11.62
Total
6.88
RHP:
RHP of Polysil Irrigation Systems Limited IPO
-
What is Polysil Irrigation Systems Limited's IPO?
Polysil Irrigation Systems Limited IPO is a fixed-price IPO with a fresh issue as well as an offer for sale. The total capital to be raised is around ₹17.44 crore.
-
What Is The Allotment Date Of The Polysil Irrigation?
The allotment date of the Polysil Irrigation is February 14, 2024.
-
What Is The Price Band Of The Polysil Irrigation?
The Polysil Irrigation Company will issue shares at INR 54 per share.
-
What Is The Lot Size Of The Polysil Irrigation?
The lot size for the Polysil Irrigation IPO consists of 2000 shares per lot.
-
What Is The Listing Date Of The Polysil Irrigation?
The listing date of the Polysil Irrigation is February 16, 2024.
Polysil Irrigation Systems IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| Other | 2.12 |
| Retail | 11.62 |
| Total | 6.88 |
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