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18 June 2024

Sylvan Plyboard Limited IPO

Sylvan Plyboard Ltd is engaged in the manufacturing of various wood products such as plywood, block board, flush door, veneer and sawn timber across various grades and thicknesses. Leveraging the knowledge of timber products and the domestic market, in the year 2004, the Company acquired the ongoing business of M/s. Singh Brothers & Co. (Proprietorship Firm). Over the period, after establishing themselves in trading timber products, they diversified their activities to manufacturing activities by setting up an integrated manufacturing facility in Baidyabati, West Bengal located near Kolkata.

Sylvan Plyboard IPO is a fixed price issue of Rs 28.05 crores. The issue is entirely a fresh issue of 51 lakh shares. Sylvan Plyboard IPO opens for subscription on June 24, 2024 and closes on June 26, 2024. The allotment for the Sylvan Plyboard IPO is expected to be finalized on Thursday, June 27, 2024. Sylvan Plyboard's IPO price is ₹55 per share. The minimum lot size for an application is 2000 Shares. Finshore Management Services Limited is the book-running lead manager of the Sylvan Plyboard IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sylvan Plyboard IPO is Black Fox Financial.

Sylvan Plyboard IPO Overview

Detail	Description
IPO Date	June 24, 2024 to June 26, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹55 per share
Lot Size	2000 Shares
Total Issue Size	5,100,000 shares (aggregating up to ₹28.05 Cr)
Fresh Issue	5,100,000 shares (aggregating up to ₹28.05 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Shareholding pre issue	14,274,830
Shareholding post issue	19,374,830
Market Maker portion	256,000 shares

Sylvan Plyboard IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Monday, June 24, 2024
IPO Close Date	Wednesday, June 26, 2024
Basis of Allotment	Thursday, June 27, 2024
Initiation of Refunds	Friday, June 28, 2024
Credit of Shares to Demat	Friday, June 28, 2024
Listing Date	Monday, July 1, 2024
Cut-off time for UPI mandate confirmation	5 PM on June 26, 2024

Sylvan Plyboard IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹110,000
Retail (Max)	1	2000	₹110,000
HNI (Min)	2	4,000	₹220,000

Sylvan Plyboard IPO Reservation

Investor Category	Shares Offered
Retail Shares Offered	50% of the Net issue
Other Shares Offered	50% of the Net issue

Sylvan Plyboard IPO Promoter Holding

Share Holding Pre Issue	99.80%
Share Holding Post Issue	71.23%

Company & Financials

Incorporated in 2002, Sylvan Plyboard (India) Ltd is engaged in the manufacturing of various wood products such as plywood, block board, flush door, veneer and sawn timber across various grades and thicknesses. The company has 223 Authorized Dealers present across 13 states.
The product range of the company consists of the following:

1. Plywood, Block Boards & Flush Doors
2. Veneer
3. Sawn Timber

The manufacturing facility of the company is situated in Hooghly, West Bengal. The products are supplied to industries such as shipping, construction, real estate, interior decor, furniture, aviation, education, hospital, transport, banking and government projects where plywood is needed for commercial and residential infrastructure.

Sylvan Plyboard (India) Limited Financial Information

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	21,726.74	20,398.47	18,142.32	16,550.83
Revenue	16,193.24	19,915.32	17,292.63	11,028.91
Profit After Tax	447.98	352.85	305.31	37.09
Net Worth	9,456.77	8,811.78	8,283.26	7,977.95
Reserves and Surplus	8,029.28	7,882.14	7,374.05	7,068.74
Total Borrowing	6,454.53	5,500.55	4,579.24	4,701.16
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	4.90%
ROCE	7.56%
Debt/Equity	0.68
RoNW	4.74%
P/BV	0.83
PAT Margin (%)	2.77

	Pre IPO	Post IPO
EPS (Rs)	2.47	3.08
P/E (x)	22.25	17.84

Objectives of Sylvan Plyboard IPO

The Objectives of the Issue are:

1. Funding Capital Expenditure towards the purchase of additional plant and machinery
2. To meet the Working Capital Requirements
3. To meet the Issue Expenses
4. General Corporate Purposes

Sylvan Plyboard IPO Review

The company is operating in a highly competitive and fragmented segment. It marked steady growth in its top lines for the reported periods, but the sudden boost in its bottom lines from FY22 onwards raised eyebrows and sustainability. Based on FY24 super annualized earnings, the issue appears fully priced. Well-informed investors may park moderate funds for long-term rewards.

FAQs for Sylvan Plyboard IPO

What is Sylvan Plyboard IPO?

Sylvan Plyboard IPO is an NSE SME IPO. They are going to raise ₹28.05 Crores via IPO. The issue is priced at ₹55 per equity share. The IPO is to be listed on NSE.
When will the Sylvan Plyboard IPO open?

The IPO will open on June 24, 2024, for QIB, NII, and Retail Investors.
What is Sylvan Plyboard IPO Investors Portion?

The investors’ portion for NII is 50%, and Retail is 50%.
What is Sylvan Plyboard's IPO Size?

Sylvan Plyboard's IPO size is ₹28.05 crores.
What is Sylvan Plyboard IPO Price Band?

Sylvan Plyboard's IPO Price Band is ₹55 per equity share.
What is Sylvan Plyboard IPO Minimum and Maximum Lot Size?

The IPO bid is 2000 shares with ₹110,000.
What is Sylvan Plyboard IPO Allotment Date?

Sylvan Plyboard's IPO allotment date is June 27, 2024.
What is Sylvan Plyboard's IPO Listing Date?

Sylvan Plyboard's IPO listing date is July 1, 2024. The IPO will be listed on NSE SME.