The initial public offering of Rs. 24.49 crore comprises a fresh issue of 4,150,000 shares of face value of Rs. 10 each. The company has a fixed price of Rs. 59 per share for the public issue. The minimum lot size for retail investors is 2000 shares, amounting to a minimum investment of Rs 118,000.
Incorporated in 2004, SPP Polymer Limited, formerly known as SPP Food Products Private Limited, is situated at Sidcul Rudrapur, Uttarakhand; it owns a land area of 13650 sq mtr and a constructed area of 7500 sq meters. It manufactures a wide range of HDPE/PP woven fabric and bags, non-woven fabrics and bags, and Multifilament Yarn. The company is located in Rudrapur City, Uttarakhand.
The product portfolio comprises HDPE/PP woven Fabric, HDPE/PP Woven Bags, Non-woven Fabric, non-woven Bags and Multifilament PP Yarn.
The company offers customised solutions according to its clients’ specifications. Its installed capacity of HDPE/PP Woven Fabric and bags totals 9125 MT, Non-woven Fabric 3600 MT, and Multifilament Yarn 300 MT per annum.
The company has received ISO 9001:2015, 45001:2018, 14001:2015, and SA 8000:2014 accreditation for its quality, occupational health and safety management, and environmental management systems.
The company provides packaging solutions to business-to-business (“B2B”) manufacturers catering to different industries such as cement, chemicals, food grains, sugars, polymers, agriculture, and others for the packaging of goods in large quantities.
Highlights:-
- Fresh Public issue of 41.5 lakh equity shares opens for subscription from September 10 to September 12
- The company engaged in the business of manufacturing HDPE/PP woven fabric & bags, Non-woven fabrics & bags and PP Multifilament yarn
- Minimum lot size for application is 2000 shares; Minimum IPO application amount Rs. 1.18 lakh
- Funds raised through the issue will be used to meet the working capital requirements, repayment of loans and general corporate purposes
- For Q1FY25, the company reported revenues of Rs. 28.95 crore and a Net Profit of Rs. 91.33 lakh
Interactive Financial Services Ltd is the book-running lead manager of the issue.
Business Highlights:-
The company has reported excellent operational and financial performance over the years. The Company has witnessed a multi-fold growth in revenue and profitability over the years. For FY23-24 ended March, the company reported a net profit of Rs. 99.40 lahks and revenue of Rs. 91.75 crores as compared to profitability and revenue of Rs. 54.42 lahks and Rs. 66.04 crore in FY22-23.
As of June 2024, the company’s Net Worth was reported at Rs. 25.91 crore, Reserves & Surplus at Rs. 15 crore and Asset base of Rs. 76.19 crore. As of March 2024, the ROE of the company was 8.01%, ROCE was 4.27%, and RONW was 3.98%. The company’s shares will be listed on NSE’s Emerge platform.
| IPO Highlights – SPP Polymer Limited |
| IPO Opens on | September 10, 2024 |
| IPO Closes on | September 12, 2024 |
| Issue Price | Rs. 59 Per Share |
| Issue Size | 41.5 lakh shares – up to Rs. 24.49 crore |
| Lot Size | 2000 Shares |
| Listing on | NSE Emerge Platform of National Stock Exchange |
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
%20(1).jpg)
.jpg.jpeg)
