Solve Plastic Products IPO Details

August 13, 2024 - August 16, 2024

IPO Details
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Solve Plastic Products IPO is a fixed price issue of Rs 11.85 crores. The issue comprises of fresh issue of 13.02 lakh shares and offer for sale worth Rs 0.00 crore.

Solve Plastic Products IPO opens for subscription on August 13, 2024 and closes on August 16, 2024. The allotment for the Solve Plastic Products IPO is expected to be finalized on Monday, August 19, 2024. Solve Plastic Products IPO will list on NSE SME with tentative listing date fixed as Wednesday, August 21, 2024.

Solve Plastic Products IPO price is ₹91 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹109,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹218,400.

Finshore Management Services Limited is the book running lead manager of the Solve Plastic Products IPO, while Integrated Registry Management Services Private Limited is the registrar for the issue. The market maker for Solve Plastic Products IPO is Black Fox Financial.

Refer to Solve Plastic Products IPO RHP for detailed information.

IPO Date	August 13, 2024 to August 16, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹91 per share
Lot Size	1200 Shares
Total Issue Size	1,302,000 shares (aggregating up to ₹11.85 Cr)
Fresh Issue	1,302,000 shares (aggregating up to ₹11.85 Cr)
Offer for Sale	[.] shares of ₹10 (aggregating up to ₹0.00 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Share holding pre issue	3,066,250
Share holding post issue	4,368,250
Market Maker portion	66,000 shares Black Fox Financial

Solve Plastic Products IPO Reservation

Solve Plastic Products IPO offers 1,302,000 shares. 618,000 (47.47%) to NII, 618,000 (47.47%) to RII.

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	66,000 (5.07%)
Other Shares Offered	618,000 (47.47%)
Retail Shares Offered	618,000 (47.47%)
Total Shares Offered	1,302,000 (100%)

Solve Plastic Products IPO Timeline (Tentative Schedule)

Solve Plastic Products IPO opens on August 13, 2024, and closes on August 16, 2024.

IPO Open Date	Tuesday, August 13, 2024
IPO Close Date	Friday, August 16, 2024
Basis of Allotment	Monday, August 19, 2024
Initiation of Refunds	Tuesday, August 20, 2024
Credit of Shares to Demat	Tuesday, August 20, 2024
Listing Date	Wednesday, August 21, 2024
Cut-off time for UPI mandate confirmation	5 PM on August 16, 2024

Solve Plastic Products IPO Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. Thebelow table depicts the minimum and maximum investment by retail investors and HNI in terms ofshares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	1200	₹109,200
Retail (Max)	1	1200	₹109,200
HNI (Min)	2	2,400	₹218,400
Lot Size Calculator

Solve Plastic Products IPO Promoter Holding

Mr. Sudheer Kumar Balakrishnan Nair, Mr. Susil Balakrishnan Nair, and Mr. Balakrishnan Nair are the promoters of the company.

Share Holding Pre Issue	90.22%
Share Holding Post Issue	49.87%

About Solve Plastic Products Limited

Founded in 1994, Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized polyvinyl chloride) and Rigid PVC electrical conduits and markets them under the brand name "BALCOPIPES"

The company has 3 manufacturing units in Kerala and 1 well-equipped manufacturing unit in Tamil Nadu. The products manufactured are approved by various authorities like Bureau of Indian Standards (BIS) and also by organizations like the Central Public Works Department (CPWD) of Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department (PWD) of Kerala and Tamil Nadu and Tamil Nadu Housing Board. The company distributes its products mainly in the state of Kerala.

The company's product portfolio includes:

Solvent cement
Water tank
Garden hoses
Rigid PVC electrical cables PVC pipes

The company has a total of 165 employees (excluding the managing directors).

Solve Plastic Products Limited Financial Information (Restated)

Solve Plastic Products Limited's revenue decreased by -24.25% and profit after tax (PAT) rose by 18.47% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	2,211.53	1,874.27	1,822.99
Revenue	4,715.73	6,225.43	5,577.89
Profit After Tax	142.48	120.27	-40.71
Net Worth	438.79	192.56	7,229,000.00
Reserves and Surplus	132.16	-110.94	-231.21
Total Borrowing	1,136.42	1,053.42	1,030.43
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Solve Plastic Products IPO is Rs 39.75 Cr.

KPI as of March 31, 2024.

KPI	Values
Debt/Equity	0.23
RoNW	15.56%
P/BV	6.36
PAT Margin (%)	9.13

Check Solve Plastic Products IPO Peer Comparison here.

	Pre IPO	Post IPO
EPS (Rs)	3.92	3.24
P/E (x)	23.2	28.12

Note:

Objects of the Issue (Solve Plastic Products IPO Objectives)

The company intends to utilize the funding for the following objectives:

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

Solve Plastic Products IPO Review (Avoid)

[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It posted inconsistency in its top lines for the reported periods. Based on FY24 super earnings, the issue appears aggressively priced. Post-IPO, small equity base indicates longer gestation period. There is no harm in skipping this pricey and “High Risk/Low Return” bet. Read detail review...

Solve Plastic Products IPO Prospectus

Solve Plastic Products IPO Rating

1.0

Rating:

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Solve Plastic Products Limited Contact Details

Solve Plastic Products Limited
Door No XIII/690/ABC,
Tholicode, Punalur,
Kollam - 691333
Phone: +91 99956 31001
Email: cs@balcopipes.com
Website: https://www.balcopipes.com/

Solve Plastic Products IPO Registrar

Integrated Registry Management Services Private Limited

Phone: 044 - 28140801 to 28140803
Email: smeipo@integratedindia.in
Website: https://www.integratedregistry.in/registrarstosta.aspx?od=1

Solve Plastic Products IPO - Buy or Not

Solve Plastic Products IPO Recommendation Summary

Review By	Subscribe	Neutral	Avoid
Brokers	0	0	1
Members	0	0	0

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Solve Plastic Products IPO Lead Manager(s)

Finshore Management Services Limited (Past IPO Performance)

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Solve Plastic Products IPO FAQs

Solve Plastic Products IPO is a SME IPO of 1,302,000 equity shares of the face value of ₹10 aggregating up to ₹11.85 Crores. The issue is priced at ₹91 per share. The minimum order quantity is 1200 Shares.

The IPO opens on August 13, 2024, and closes on August 16, 2024.

Integrated Registry Management Services Private Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Solve Plastic Products IPO using UPI as a payment gateway. Zerodha customers can apply in Solve Plastic Products IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Solve Plastic Products IPO through Zerodha

Visit the Zerodha website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the 'Solve Plastic Products IPO' row and click the 'Bid' button.
Enter your UPI ID, Quantity, and Price.
‘Submit’ IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Solve Plastic Products IPO opens on August 13, 2024 and closes on August 16, 2024.

Solve Plastic Products IPO lot size is 1200 Shares, and the minimum amount required is ₹109,200.

You can apply in Solve Plastic Products IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Solve Plastic Products IPO will be done on Monday, August 19, 2024, and the allotted shares will be credited to your demat account by Tuesday, August 20, 2024. Check the Solve Plastic Products IPO allotment status.

The Solve Plastic Products IPO listing date is not yet announced. The tentative date of Solve Plastic Products IPO listing is Wednesday, August 21, 2024.