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 opens for subscription on May 7, 2024 and closes on May 10, 2024. The allotment for the Silkflex Polymers IPO is expected to be finalized on Monday, May 13, 2024. Silkflex Polymers IPO will list on NSE SME with tentative listing date fixed as Wednesday, 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.
Silkflex Polymers IPO Details
| IPO Date | May 7, 2024 to May 10, 2024 |
| Listing Date | [.] |
| 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 Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Silkflex Polymers IPO Timeline (Tentative Schedule)
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 |
Silkflex Polymers IPO Lot Size
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 | |||
Silkflex Polymers IPO Promoter Holding
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% |
About Silkflex Polymers (India) Limited
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 Financial Information (Restated)
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 | ||||
Key Performance Indicator
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 |
Check Silkflex Polymers IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.97 | 2.95 |
| P/E (x) | 53.76 | 17.64 |
Note:
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- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
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- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (Silkflex Polymers IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
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- Acquisition of land;
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- Funding of capital expenditure requirements of the Company towards purchase of Plant and Machineries;
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- Funding Working Capital Requirements of the Company; and
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- General corporate purposes.
Silkflex Polymers IPO Prospectus
Silkflex Polymers (India) Limited Contact Details
Silkflex Polymers (India) Limited
Daga Complex
Sulati Jaladhulagori
Sankrail, Howrah-711302
Phone: +91 9674912615
Email: investors@silkflexindia.in
Website: https://silkflexindia.in/
Silkflex Polymers IPO Registrar
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html