IPO Details
Bidding Dates
21 Oct '24 - 23 Oct '24
Minimum Investment
₹1,47,000/ 1 Lot (3000 Shares)
Price Range
₹46 - ₹49
Maximum Investment
₹1,47,000/ 1 Lot (3000 Shares)
Retail Discount
To be announced
Issue Size
₹26.20 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Oct 21, 2024
Closing Date
Oct 23, 2024
Basis of Allotment
Oct 24, 2024
Initiation of Refunds
Oct 25, 2024
Listing Date
Oct 28, 2024
About Premium Plast IPO
Premium Plast IPO is a book-built issue with a total size of ₹26.20 crore. The IPO consists entirely of a fresh issue of 53.46 lakh shares. The subscription period for the IPO is from October 21 to October 23, 2024. The allotment of shares is expected to be finalised on October 24, 2024, and the listing is set for October 28, 2024, on NSE SME.
The price band for Premium Plast IPO is set between ₹46 to ₹49 per share. The minimum application requires 3,000 shares, with a retail investment starting at ₹1,47,000. High Net-worth Individuals (HNIs) must apply for a minimum of 2 lots, equating to 6,000 shares or ₹2,94,000.
Khandwala Securities Limited is the book running lead manager for the IPO, and Bigshare Services Pvt Ltd acts as the registrar. Asnani Stock Broker has been appointed as the market maker for the issue. Investors looking to participate can apply through their brokers within the given subscription period.
Industry Outlook:
- The global auto parts and accessories market, valued at USD 697.84 billion in 2023, is projected to reach USD 1,087.32 billion by 2031, growing at a CAGR of 5.7%. This expanding market provides Premium Plast Limited with an opportunity to increase its presence in both domestic and international markets.
- India's auto component aftermarket grew by 7.5% in H1 2023-24, reaching US$ 5.43 billion. This trend benefits Premium Plast by offering significant growth potential in the aftermarket segment, allowing the company to cater to the increasing demand for spare parts and accessories.
- India’s auto component exports grew by 5.2% in FY23, reaching US$ 19.49 billion. With growing export opportunities, Premium Plast Limited can tap into global markets, leveraging India’s position as a cost-effective auto component supplier to expand its customer base.
Premium Plast IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The funds will be used to enhance the company’s production capabilities by expanding its manufacturing facility in Pithampur, Madhya Pradesh, and acquiring new machinery.
- Part of the proceeds will be used to support the establishment of a rooftop on-grid solar power plant at the current manufacturing facility.
- The proceeds will also be used for the prepayment or repayment of outstanding borrowings.
- The remaining funds will be allocated towards general corporate purposes.
About Premium Plast Limited
Premium Plast Limited is a tier-1 automotive component manufacturer that specialises in designing and supplying exterior and interior plastic components, as well as under-the-hood parts for commercial vehicle OEMs. With certifications such as IATF-16949, ISO 9001:2015, and ISO 14001:2004, the company upholds high manufacturing standards using advanced injection and blow moulding technologies.
The product range includes exterior components like fenders, grills, bumpers, and interior parts such as dashboards and door handles. Premium Plast also produces specialised products like steering wheels and industrial plastic parts for electrical distribution systems.
With 3 strategically located manufacturing units in Vasai and Pithampur, Madhya Pradesh, and a total installed capacity of 1,975 metric tonnes per annum, the company has significantly increased its manufacturing capacity over the years. A strong focus on quality assurance is maintained through rigorous testing procedures in in-house laboratories to meet industry standards, ensuring safety and durability.
The company actively pursues sustainable practices, reusing residual plastics generated during production to minimise waste and lower costs. Additionally, Premium Plast plans to install rooftop solar panels at its facilities to enhance energy efficiency. The clientele includes notable domestic and international automobile manufacturers, with Premium Plast recognised as an exclusive supplier for brands like the Volvo Eicher Group.
This dedication to quality, sustainability, and customer satisfaction positions Premium Plast as a leader in the automotive component industry, committed to meeting the evolving needs of its customers while fostering responsible manufacturing practices.
Peer Details
According to RHP, The following are the listed peers of Premium Plast Limited:
- Varroc Engineering Limited
- Uno Minda Limited
How to Check the Allotment Status of the Premium Plast Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for Premium Plast IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Premium Plast IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Premium Plast IPO
- Registered office: Gala No 3, Shiv Shankar Indl Est No 1, Virar City (M Corp), Valiv, Thane, Vasai - 401 208, Maharashtra, India
- Phone: +91 025 0660 1160
- E-mail: info@premiumplast.in
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 4,670.59 | 4,404.12 | 3,099.15 |
| Profit/(Loss) after tax (in ₹ lakh) | 477.55 | 159.32 | 77.70 |
| Earnings per Share (EPS) (₹) | 10.03 | 3.35 | 1.63 |
| Net Worth (in ₹ lakh) | 1,652.51 | 1174.96 | 1015.64 |
| EBITDA (in ₹ lakh) | 645.33 | 220.77 | 97.23 |
| Return on Equity (ROE) (%) | 28.90 | 13.56 | 7.65 |
| Total Borrowing (in ₹ lakh) | 830.98 | 505.35 | 512.28 |
| Return on Capital employed (ROCE) (%) | 28.01 | 13.95 | 6.76 |
Know before investing
Strengths
6-
Long-standing customer relationships create opportunities for future market expansion.
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Established partnerships drive consistent revenue, enhancing overall business stability.
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Diverse product range meets evolving consumer demands across multiple industries.
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Strategic manufacturing locations reduce costs and improve delivery efficiency.
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Commitment to sustainability strengthens brand reputation and customer loyalty.
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Experienced management team fosters innovation and drives growth initiatives.
Risks
6-
Dependence on major customers exposes Premium Plast to revenue risks.
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Loss of key clients could significantly harm business performance.
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Pricing pressure from OEMs may reduce profitability and margins.
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Delays in obtaining necessary approvals can disrupt expansion plans.
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Competition may impact market position and client retention efforts.
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Reliance on third-party suppliers raises concerns over material quality.
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Premium Plast IPO FAQs
Premium Plast IPO is a book built issue IPO. The IPO will be open from October 21, 2024, to October 23, 2024.
The Basis of Allotment will happen on Thursday, October 24, 2024.
The IPO subscription window will open on October 21, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 3000 shares.
The listing date for Premium Plast Limited is Friday, October 25, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Premium Plast’s financial statements, download the IPO’s RHP document.
