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Silkflex Polymers IPO is a fixed price issue of Rs 18.11 crores. The issue is entirely a fresh issue of 34.82 lakh shares.
Silkflex Polymers IPO bidding started from May 7, 2024 and ended on May 10, 2024. The allotment for Silkflex Polymers IPO was finalized on Monday, May 13, 2024. The shares got listed on NSE SME on May 15, 2024.
Silkflex Polymers IPO price is ₹52 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹104,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹208,000.
Shreni Shares Limited is the book running lead manager of the Silkflex Polymers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Silkflex Polymers IPO is Shreni Shares.
Refer to Silkflex Polymers IPO RHP for detailed information.
| IPO Date | May 7, 2024 to May 10, 2024 |
| Listing Date | May 15, 2024 |
| Face Value | ₹10 per share |
| Price | ₹52 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,482,000 shares (aggregating up to ₹18.11 Cr) |
| Fresh Issue | 3,482,000 shares (aggregating up to ₹18.11 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,125,000 |
| Share holding post issue | 11,607,000 |
| Market Maker portion | 178,000 shares Shreni Shares |
Silkflex Polymers IPO offers 3,482,000 shares. 1,652,000 (47.44%) to NII, 1,652,000 (47.44%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 178,000 (5.11%) |
| Other Shares Offered | 1,652,000 (47.44%) |
| Retail Shares Offered | 1,652,000 (47.44%) |
| Total Shares Offered | 3,482,000 (100%) |
Silkflex Polymers IPO opens on May 7, 2024, and closes on May 10, 2024.
| IPO Open Date | Tuesday, May 7, 2024 |
| IPO Close Date | Friday, May 10, 2024 |
| Basis of Allotment | Monday, May 13, 2024 |
| Initiation of Refunds | Tuesday, May 14, 2024 |
| Credit of Shares to Demat | Tuesday, May 14, 2024 |
| Listing Date | Wednesday, May 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 10, 2024 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹104,000 |
| Retail (Max) | 1 | 2000 | ₹104,000 |
| HNI (Min) | 2 | 4,000 | ₹208,000 |
| Lot Size Calculator | |||
The Promoters of the Company are Mr Tushar Lalit Kumar Sanghavi, Ms Urmi Raj Mehta, M/s. Tushar Lalitkumar Sanghavi HUF and M/s. Lalitbhai H Sanghvi HUF.
| Share Holding Pre Issue | 99.84% |
| Share Holding Post Issue | 69.89% |
Incorporated on May 13, 2016, Silkflex Polymers India Limited trades textile printing inks and water-based wood coating polymers produced by Silkflex Polymers SDN BHD, a Malaysian brand.
The company offers 108 textile printing ink products and 51 wood coating polymer products.
As of May 1, 2024, the registered office of the Company is situated in the state of West Bengal. Additionally, the company has 5 branch offices across India, with one in each of the following states: Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab.
Silkflex Polymers India Limited sells products from Silkflex Polymers Sdn. Bhd. Malaysia, the leading manufacturer of garment printing ink in Malaysia. With a state-of-the-art thermal reactor, they have a capacity of 1000 MT per month.
The company sells its products in five Indian states - West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat.
As of December 31, 2023, the company has 28 permanent employees at its offices.
Silkflex Polymers (India) Limited's revenue increased by 22.74% and profit after tax (PAT) rose by 14.58% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,446.35 | 2,374.73 | 1,968.81 | 1,314.06 |
| Revenue | 3,381.55 | 3,442.25 | 2,804.52 | 2,096.07 |
| Profit After Tax | 256.66 | 78.59 | 68.59 | 45.35 |
| Net Worth | 1,073.28 | 816.62 | 738.03 | 513.51 |
| Reserves and Surplus | 260.78 | 566.62 | 488.03 | 308.06 |
| Total Borrowing | 1,716.18 | 1,208.31 | 994.50 | 612.81 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Silkflex Polymers IPO is Rs 60.36 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 23.91% |
| ROCE | 41.04% |
| Debt/Equity | 1.6 |
| RoNW | 23.91% |
| P/BV | 3.94 |
| PAT Margin (%) | 7.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.97 | 2.95 |
| P/E (x) | 53.76 | 17.64 |
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is engaged in the business of trading in Malaysian textile printing inks and water based wood coating polymer products in India. It posted average performance till FY23 and marked bumper profits for 9M of FY23. Based on this performance the issue appears fully priced. Such earning in trading business raise eyebrows and concern over its sustainability. Well-informed/cash surplus investors may park moderate funds for the medium to long term rewards. Read detail review...
The Silkflex Polymers IPO is subscribed 39.30 times on May 10, 2024 6:19:56 PM. The public issue subscribed 35.97 times in the retail category, times in the QIB category, and 36.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 36.59 |
| Retail | 35.97 |
| Total | 39.30 |
Total Application : 29,711 (35.97 times)
| Listing Date | May 15, 2024 |
| BSE Script Code | |
| NSE Symbol | SILKFLEX |
| ISIN | INE0STN01015 |
| Final Issue Price | ₹52 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹52.00 |
| ₹60.00 |
| ₹57.00 |
| ₹63.00 |
| ₹58.70 |
Silkflex Polymers (India) Limited
Daga Complex
Sulati Jaladhulagori
Sankrail, Howrah-711302
Phone: +91 9674912615
Email: investors@silkflexindia.in
Website: https://silkflexindia.in/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Silkflex Polymers IPO is a SME IPO of 3,482,000 equity shares of the face value of ₹10 aggregating up to ₹18.11 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 2000 Shares.
The IPO opens on May 7, 2024, and closes on May 10, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Silkflex Polymers IPO using UPI as a payment gateway. Zerodha customers can apply in Silkflex Polymers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Silkflex Polymers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Silkflex Polymers IPO opens on May 7, 2024 and closes on May 10, 2024.
Silkflex Polymers IPO lot size is 2000 Shares, and the minimum amount required is ₹104,000.
You can apply in Silkflex Polymers 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 Silkflex Polymers IPO will be done on Monday, May 13, 2024, and the allotted shares will be credited to your demat account by Tuesday, May 14, 2024. Check the Silkflex Polymers IPO allotment status.
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