The SPP Polymers IPO, amounting to Rs 24.49 crores, is being issued as a fixed price issue. The issue consists entirely of a fresh issue of 41.5 lakh shares.
The SPP Polymers IPO is scheduled to be opened for subscription on September 10, 2024, and closed on September 12, 2024. The allotment for the SPP Polymers IPO is expected to be finalized by Friday, September 13, 2024. The IPO is expected to be listed on NSE SME, with a tentative listing date set for Tuesday, September 17, 2024.
The price of the SPP Polymers IPO has been set at ₹59 per share. A minimum lot size of 2000 shares has been required for an application. The minimum investment amount required by retail investors has been set at ₹118,000. For HNIs, the minimum lot size investment is set at 2 lots (4,000 shares), amounting to ₹236,000.
Refer to SPP Polymers IPO RHP for brief information.
| IPO Date | September 10, 2024 to September 12, 2024 |
| Listing Date | September 17, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 59 to ₹ 59 / Share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,150,000 (Aggregating up to ₹24.49 Cr) |
| Fresh Issue | 4,150,000 (Aggregating up to ₹24.49 Cr) |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 11,241,160 |
| Share holding post issue | 15,391,160 |
| Market Maker portion |
SPP Polymer Limited IPO opens on September 10, 2024, and closes on September 12, 2024.
| IPO Open Date | September 10, 2024 |
| IPO Close Date | September 12, 2024 |
| Basis of Allotment | September 13, 2024 |
| Initiation of Refunds | September 16, 2024 |
| Credit of Shares to Demat | September 16, 2024 |
| Listing Date | September 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM, September 12, 2024 |
A minimum of 2000 shares and multiples thereof can be bid for by investors. The table below depicts the minimum and maximum investment by retail investors and HNIs, in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | Rs.118,000 |
| Retail (Max) | 1 | 2,000 | Rs.118,000 |
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) | 2 | 4,000 | Rs.236,000 |
| HNI (Min) |
| Share Holding Pre Issue | 94.99% |
| Share Holding Post Issue | 69.37% |
A total of 41,50,000 shares are offered in the SPP Polymers IPO. Of these, 19,70,000 shares (47.47%) are being allocated to NIIs, and 19,70,000 shares (47.47%) are being allocated to RIIs.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | |
|
| NII (HNI) Shares Offered | |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 19,70,000 47.47% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 41,50,000 100% |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
SPP Polymers Limited, formerly known as SPP Food Products Private Limited, was founded in 2004 and produces a variety of woven and non-woven HDPE/PP bags and fabrics as well as multifilament yarn. The business is situated in Uttarakhand's Rudrapur City. Included in the product portfolio are the following: Weaved HDPE/PP fabric HDPE/PP Woven Bags Non-Weave Fabric Non-woven Bags Yarn with Multifilament PP The business provides specialized solutions based on the requirements of its customers. It has an installed capacity of 12,000 MT for HDPE/PP Woven Fabric and Bags, 4,000 MT for Non-woven Fabric, and 300 MT for Multifilament Yarn annually.
The company's environmental management system, occupational health and safety system, and quality management system have all been accredited with SA 8000:2014, 45001:2018, ISO 9001:2015, and 14001:2015. Agro-pesticides, cement, chemicals, fertilizers, food items, textile, ceramic, and steel sectors are the main markets for the company's goods. Four people are employed by the company as of December 31, 2024.
The market capitalization of SPP Polymers IPO is Rs 90.81 Cr.
KPI as of March 31, 2024.
| 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 |
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
The Net Proceeds are proposed to be deployed by the company for the aforesaid purposes in accordance with the estimated schedule of implementation for the following objects.
- Repayment of Loan
- Working capital requirement
- General corporate purposes
SPP Polymer Limited Bearing No DPT212, DLF Prime Tower |
Kfin Technologies Limited Phone: 04067162222, 04079611000 |
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