IPO Details

Bidding Dates

10 Sep '24 - 12 Sep '24

Minimum Investment

₹118,000 / 1 Lot (2,000 Shares)

Price Range

₹59

Maximum Investment

₹118,000 / 1 Lot (2,000 Shares)

Retail Discount

To be announced

Issue Size

₹24.49 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

Sep 10, 2024

Closing Date

Sep 12, 2024

Basis of Allotment

Sep 13, 2024

Initiation of Refunds

Sep 16, 2024

Listing Date

Sep 17, 2024

IPO Subscription Details

DateNIIRetailTotal

Day 1Sep 10, 2024

 1.25x 9.48x 5.36x

Day 2Sep 11, 2024

 2.98x 21.13x 12.05x

Day 3Sep 12, 2024

 6.72x 37.98x 22.35x

About SPP Polymers IPO

SPP Polymers Limited is launching an IPO with a fixed price issue of ₹24.49 crores, offering 41.5 lakh fresh equity shares. The subscription period for the SPP Polymers IPO is scheduled from September 10, 2024, to September 12, 2024.

The price per share is set at ₹59, with a minimum application lot size of 2,000 shares. Retail investors need to make a minimum investment of ₹118,000, while HNIs can invest in a minimum of 2 lots, amounting to ₹236,000.

The allotment of shares is expected to be finalised on September 13, 2024, and the IPO will list on the NSE SME platform with a tentative listing date of September 17, 2024. Interactive Financial Services Ltd is the book-running lead manager for this IPO, and Kfin Technologies Limited serves as the registrar. B.N. Rathi Securities is the designated market maker for SPP Polymers IPO.

Industry Outlook:

  1. India's paper and packaging industry is set to expand significantly, projected to grow from $50.5 billion in 2019 to $204.81 billion by 2025 at a CAGR of 26.7%.
  2. India’s packaging material exports surged, reaching $1,119 lakh in 2021-22 from $844 lakh in 2018-19, with the US as the top export destination.

SPP Polymers IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Repayment of Loan
  2. Working capital requirement
  3. General Corporate Purpose

About SPP Polymers Limited

SPP Polymers Limited, incorporated in 2004 and formerly known as SPP Food Products Private Limited, specializes in manufacturing a diverse range of HDPE/PP woven fabric and bags, non-woven fabrics and bags, and Multifilament Yarn.

Situated in Rudrapur City, Uttarakhand, the company offers tailored solutions to meet specific client needs. SPP Polymers' production capacity includes 12,000 MT per annum for HDPE/PP woven fabric and bags, 4,000 MT for non-woven fabric, and 300 MT for Multifilament Yarn. The company is accredited with ISO 9001:2015, 45001:2018, 14001:2015, and SA 8000:2014 certifications, reflecting its commitment to quality management, occupational health and safety, and environmental management.

SPP Polymers primarily caters to customers in sectors such as agro-pesticides, cement, chemicals, fertilizers, food products, textiles, ceramics, and steel. As of December 31, 2024, the company employs four people, driving its mission to deliver high-quality products across various industries.

Peer Details

The companies considered by SPP Polymers as its peers include:

  1. Rishi Techtex Limited
  2. EMMBI Industries Limited

How to Check the Allotment Status of the SPP Polymers IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of SPP Polymers IPO

  • Registered office: Bearing No DPT212, DLF Prime Tower, Okhla Industrial Estate, Phase 1, New Delhi-110020 India
  • Phone: +91 91 5944297751
  • E-mail: cs@spppolymer.com

IPO Financials

Particulars As At 30th June, 2024 Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operations (in ₹ lakh) 2,819.50 9,175.11 6,604.72 8,028.16
Profit After Tax (PAT) (in ₹ lakh) 91.33 99.40 54.42 28.01
Current Ratio (x) 1.20 1.20 1.37 1.42
Net Worth (in ₹ lakh) 2,591.64 2,500.30 2,433.64 1,971.82
Total Borrowings (in ₹ lakh) 1,871.94 1,897.82 2,215.18 1,262.21
Return on Equity (%) 7.08 8.01 4.94 3.33
Return on Capital Employed (RoCE) (%) 4.27 9.13 5.45 4.04
Earnings Per Share (in ₹) 0.81 0.88 1.96 1.25

Know before investing

Strengths

6

  1. ISO-certified, stringent quality control ensures superior product standards.

  2. Promoters bring 19 years of polymer industry experience.

  3. Diverse product portfolio meets varied customer requirements efficiently.

  4. Strong relationships with long-standing customers across multiple industries.

  5. Expanding domestic and international footprint drives business growth.

  6. In-house testing lab ensures raw materials meet global standards.

Risks

6

  1. Pending litigations may negatively impact financials and operations significantly.

  2. Low net profit margins could hinder growth and profitability.

  3. Delayed or inaccurate ROC filings risk penalties and regulatory actions.

  4. Manufacturing facility disruptions may severely affect production and revenues.

  5. Intense competition in fragmented industry may pressure profit margins.

  6. Dependence on limited suppliers and customers increases business vulnerability.

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SPP Polymers IPO FAQs

What is the SPP Polymers IPO?

SPP Polymers IPO is a book built IPO. The IPO will be open from September 10, 2024, to September 12, 2024.

When will SPP Polymers IPO be allotted?

The Basis of Allotment will happen on Friday, September 13, 2024.

When will SPP Polymers IPO open for subscription?

The IPO subscription window will open on September 10, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 31 shares.

When will SPP Polymers Limited list on exchanges?

The listing date for SPP Polymers is Tuesday, September 17, 2024.

What would be the listing gains on the SPP Polymers IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to apply for SPP Polymers IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the ‘IPO’ section on the platform.
  3. Select IPO: Find and select the SPP Polymers IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How to increase your chances of getting a SPP Polymers IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for SPP Polymers IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of SPP Polymers Limited using one PAN?

You can submit only one application using your PAN card.

How to read SPP Polymers Limited's financial statements?

To read SPP Polymers’ financial statements, download the IPO’s  RHP document.