Solve Plastic Products Ltd IPO
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Solve Plastic Products Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 13.02 L | TBA | ₹ 6.18 L | ₹ 21.79 L | NSE | TBA |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
13 Aug, 24 | 16 Aug, 24 | 1200 | TBA | Fixed Price - SME | 21 Aug, 24 |
Solve Plastic Products Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Plastics Products |
Sub Sector | NA |
Issue Type | Fixed Price - SME |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 0x | 0 | 1372800 |
NII | 17.54x | 618000 | 10839600 |
Retail | 48.23x | 618000 | 29804400 |
Employee | 0x | 0 | 0 |
Total | 32.27x | 1302000 | 42016800 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Solve Plastic Products Ltd Financial Status
Income Statement
Balance Sheet
Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 2.22 | 2.06 | 0.37 |
EBITDA | 2.99 | 2.89 | 1.27 |
PAT | 1.42 | 1.20 | -0.41 |
Total Assets | 15.50 | 13.24 | 12.61 |
Share Capital | 3.07 | 3.04 | 3.04 |
Total Borrowings | 15.23 | 14.64 | 14.19 |
Operating Activities (Net Cash) | 2.19 | 2.03 | 0.49 |
Investing Activities (Net Cash) | -0.89 | 0.00 | 0.00 |
Financing Activities (Net Cash) | 15.23 | 14.64 | 14.19 |
Net Cashflow | 0.01 | 0.01 | 0.02 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Solve Plastic Products Ltd
Our Company was originally incorporated as `Solve Plastic Products Private Limited' on October 04, 1994 under the provision of the Companies Act, 1956 bearing Corporate Identification Number U25209KL1994PTC008231 issued by Registrar of Companies - Ernakulam. Subsequently, our company was converted into Public Limited Company under the Companies Act, 2013 and the name of our Company was changed to Solve Plastic Products Limited vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated March 05, 2024 bearing Corporate Identification Number U25209KL1994PLC008231 issued by Registrar of Companies - Central Processing Centre.
The Indian plastic industry is one of the leading sectors in the country's economy. The history of the plastic industry in India dates back to 1957 with the production of polystyrene. Since then, the industry has made substantial progress and has grown rapidly. The industry is present across the country and has more than 2,500 exporters. It employs more than 4 million people in the country and constitutes 30,000 processing units; among these, 85-90% belong to small and medium enterprises. India manufactures various products such as plastics and linoleum, houseware products, cordage, fishnets, floor coverings, medical items, packaging items, plastic films, pipes, raw materials, etc. The country majorly exports plastic raw materials, films, sheets, woven sacks, fabrics, and tarpaulin. The Government of India intends to take the plastic industry from a current level of Rs. 3 lakh crore (US$ 37.8 billion) of economic activity to Rs. 10 lakh crore (US$ 126 billion) in 4-5 years. In FY24 (Until February 2024), India's plastic exports stood at US$ 10.43 billion. During this period, the exports of human hair & related products, medical items, plastic pipes and FRP & composites grew by 12.7%, 8.9%, and 13.8%, respectively, over the same period last year. The cumulative exports of plastics and related materials during 2022-23 were valued at US$ 11.96 billion. This was a 10.4% decrease from the 2021-22 exports valued at US$ 13.35 billion. Plastic raw materials were the largest exported category and constituted 27.76% of the total exports in 2022-23; it recorded a growth of 21.5% over the previous year. Plastic films and sheets were the second largest category, comprising 15.13% of the total exports, but declined by 10.6% over the previous year. In February 2024, the exports of plastics and linoleum from India were valued at US$ 996.9 million. During the same period, medical items of plastics; FRP & composites; packaging items; cordage fishnets & monofilaments and floorcoverings, leathercloth, & laminates recorded strong growth. The cumulative exports for April-February 2024 declined by 4.4% year-on-year (YoY) to US$ 10.43 billion.
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. Our Company is committed towards constant innovations in drinking water piping solutions and electrical conduit fittings technologies to meet the constantly increasing demands.
Peer Comparison:
- Captain Pipes Ltd
- Rungta Irrigation Ltd
- Dutron Polymers Ltd
- Aik Pipes & Polymers Ltd
Solve Plastic Products Ltd IPO Key Points
Strengths
- Established and proven track record.
- Leveraging the experience of our Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
Risk
- The Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- If the company is unable to successfully implement its proposed expansion plans; its results of operations and financial condition could be adversely affected.
- The Company is yet to place orders for the machinery for the expansion of the Manufacturing Facility. Any delay in placing orders or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
Strategy
- Expand our Current Business Relationships.
- Improving operational efficiencies.
- Optimal Utilization of Resources.
- Improve capacity utilization.
- Enhancing existing production and product quality.
- Established and proven track record.
- Leveraging the experience of our Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
How To Apply for Solve Plastic Products Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.