Apex Ecotech Limited IPO...
20 Nov 2024
SPP Polymer Limited IPO And Its GMP
SPP Polymer Limited is an ISO 9001:2015 certified company engaged in the business of manufacturing HDPE/PP woven fabric & bags, Non-woven fabrics & bags and PP Multifilament yarn. The company offers packaging solutions to business-to-business (“B2B”) manufacturers catering to different industries such as types of cement, chemicals, food grains, sugars, polymers, agriculture and others for the packaging of goods in big quantities.
They believe that they have a well-equipped production facility with a well-versed quality section which helps them to deliver consistently high-quality products to the customer at the most competitive price. Their manufacturing facility employs an extensive and stringent quality control mechanism at each stage of the process to ensure that their finished product conforms to the exact requirements of the customers.
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IPO Details:
- ● IPO Size: Rs 24.49 crores
- ● Issue Type: Fixed price
- ● Number of Shares: 41.5 lakh shares
- Pricing and Subscription Details:
- ● Issue Price: ₹59 per share
- ● Subscription Dates: September 10, 2024 to September 12, 2024
- ● Minimum Lot Size: 2000 shares
- Key Parties Involved:
- ● Book Running Lead Manager: Interactive Financial Services Ltd
- ● Registrar: Kfin Technologies Limited
- ● Market Maker: B.N. Rathi Securities
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
SPP Polymer Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 17-09-2024 | 59 | 15.0 (25%) | 17-Sep-2024 12:55 |
| 16-09-2024 | 59 | 15.0 (25%) | 16-Sep-2024 13:45 |
| 13-09-2024 | 59 | 15.0 (25%) | 13-Sep-2024 12:45 |
| 12-09-2024 | 59 | 15.0 (25%) | 12-Sep-2024 12:45 |
| 11-09-2024 | 59 | 15.0 (25%) | 11-Sep-2024 12:15 |
| 10-09-2024 | 59 | 20.0 (34%) | 10-Sep-2024 12:10 |
| 09-09-2024 | 59 | 25.0 (42%) | 09-Sep-2024 13:15 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
SPP Polymers IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 10, 2024 to September 12, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹59 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,150,000 shares (aggregating up to ₹24.49 Cr) |
| Fresh Issue | 4,150,000 shares (aggregating up to ₹24.49 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 11,241,160 |
| Share holding post issue | 15,391,160 |
| Market Maker portion | 210,000 shares |
SPP Polymers IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, September 10, 2024 |
| IPO Close Date | Thursday, September 12, 2024 |
| Basis of Allotment | Friday, September 13, 2024 |
| Initiation of Refunds | Monday, September 16, 2024 |
| Credit of Shares to Demat | Monday, September 16, 2024 |
| Listing Date | Tuesday, September 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 12, 2024 |
SPP Polymers Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹118,000 |
| Retail (Max) | 1 | 2000 | ₹118,000 |
| HNI (Min) | 2 | 4,000 | ₹236,000 |
SPP Polymers Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
SPP Polymers IPO Promoter Holding
| Share Holding Pre Issue | 94.99% |
| Share Holding Post Issue | 69.37% |
Company & Financials
Incorporated in 2004, SPP Polymers Limited, formerly known as SPP Food Products Private Limited, is a manufacturer of a wide range of HDPE/PP woven fabric and bags, non-woven fabrics and bags, and Multifilament Yarn. The company is located in Rudrapur City, Uttarakhand.
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The product portfolio comprises the following:
- ● HDPE/PP woven Fabric
- ● HDPE/PP Woven Bags
- ● Non-woven Fabric
- ● Non -woven Bags
- ● Multifilament PP Yarn
The company offers customized solutions according to its clients' specifications. Its installed capacity of HDPE/PP Woven Fabric and bags totals 12000 MT, Non-woven Fabric 4000 MT and Multifilament Yarn 300 MT per annum. The company has received ISO 9001:2015, 45001:2018, 14001:2015 and SA 8000:2014 accreditation for its quality management system, occupational health and safety management system and environmental management system. The company's products primarily serve customers in the agro-pesticides, Cement, Chemical, fertilizers, Food Products, Textile, Ceramic and Steel industries.
SP Polymers Limited Financial Information
| Period Ended | 30 June 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 7,619.39 | 7,091.89 | 5,417.98 | 3,821.87 | ||||||||||||||||||||||||||||||||||||
| Revenue | 2,895.85 | 9,381.29 | 6,677.47 | 8,077.96 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 91.33 | 99.4 | 54.42 | 28.01 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 2,591.64 | 2,500.3 | 2,433.64 | 1,971.82 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,500.27 | 1,408.93 | 2,152.61 | 1,697.22 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,871.94 | 1,897.82 | 2,215.18 | 1,262.21 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 8.01% |
| ROCE | 4.27% |
| Debt/Equity | 0.71 |
| RoNW | 3.98% |
| P/BV | 2.65 |
| PAT Margin (%) | 1.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.88 | 2.37 |
| P/E (x) | 66.72 | 24.86 |
Objectives of SPP Polymers IPO
The company propose to deploy the Net Proceeds for the aforesaid purposes by the estimated schedule of implementation for the following objectives:
- ● Repayment of Loan.
- ● Working capital requirement.
- ● General corporate purposes.
SPP Polymers IPO Review
The company is engaged in the business of manufacturing & supplying HDPE/ PP fabrics, bags and other packaging-related solutions. It marked average performance till FY24 and posted a sudden boosted bottom line for Q1 of FY25. This performance raises eyebrows and concern over its sustainability going forward. Based on FY25 annualized super earnings, the issue relatively appears aggressively priced. Well-informed investors may park moderate funds for the long term.
FAQs for SPP Polymers IPO
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What is the SPP Polymer IPO?
SPP Polymer IPO is an SME IPO. The company is going to raise ₹24.49 Crores via IPO. The issue is priced at ₹59 per equity share. The IPO is to be listed on NSE.
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When will the SPP Polymer IPO open for subscription?
The IPO is to open on September 10, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 12, 2024.
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What is the SPP Polymer IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15% and Retail is 35%.
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What is SPP Polymer IPO Issue Size?
SPP Polymer IPO issue size is ₹24.49 crores.
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What is the SPP Polymer IPO Price Band?
SPP Polymer IPO Price Band is ₹59.
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What is SPP Polymer IPO Lot Size?
The minimum bid is 2000 Shares with ₹118,000 amount.
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What is the SPP Polymer IPO Allotment Date?
SPP Polymer IPO allotment date is September 13, 2024.
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What is the SPP Polymer IPO Listing Date?
SPP Polymer IPO listing date is September 17, 2024. The IPO is to be listed on the NSE.
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What is the current GMP of SPP Polymer IPO?
The current GMP of SPP Polymer IPO is 15.0 (25%).
RHP:
RHP of SPP Polymer Limited IPO.
DRHP:
DRHP of SPP Polymer Limited IPO.
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What is the SPP Polymer IPO?
SPP Polymer IPO is an SME IPO. The company is going to raise ₹24.49 Crores via IPO. The issue is priced at ₹59 per equity share. The IPO is to be listed on NSE.
-
When will the SPP Polymer IPO open for subscription?
The IPO is to open on September 10, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 12, 2024.
-
What is the SPP Polymer IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15% and Retail is 35%.
-
What is SPP Polymer IPO Issue Size?
SPP Polymer IPO issue size is ₹24.49 crores.
-
What is the SPP Polymer IPO Price Band?
SPP Polymer IPO Price Band is ₹59.
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What is SPP Polymer IPO Lot Size?
The minimum bid is 2000 Shares with ₹118,000 amount.
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What is the SPP Polymer IPO Allotment Date?
SPP Polymer IPO allotment date is September 13, 2024.
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What is the SPP Polymer IPO Listing Date?
SPP Polymer IPO listing date is September 17, 2024. The IPO is to be listed on the NSE.
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What is the current GMP of SPP Polymer IPO?
The current GMP of SPP Polymer IPO is 15.0 (25%).
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