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TCS, HDFCBANK, SBI Liquid Fund (G)
Solve Plastic Products Ltd.

BALCO

Equity

NSE

Min. Investment

91,000.00

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IPO Details

Bidding Dates

13 Aug 24 - 16 Aug 24

Price Range ₹

91 - 0

Total Equity

11.85Cr

Lot Size

1200

Exchange Status

NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

0.00×

Qualified Institutional Buyers

0.00×

Employees

0.00×

Retail Investors

0.00×

Total subscription Rate

0.00×

IPO Timeline

Offer start

13 Aug 2024

Offer end

16 Aug 2024

Allotment

19 Aug 2024

Refund initiation

20 Aug 2024

Demat transfer

20 Aug 2024

Listing

21 Aug 2024

About Company

Founded in 1994, Solve Plastic Products Limited manufactures a wide range of uPVC pipes (unplasticized polyvinyl chloride) and rigid PVC electrical conduits, marketed under the brand name "BALCOPIPES." The company operates three manufacturing units in Kerala and one well-equipped facility in Tamil Nadu. The products are approved by various authorities, including the Bureau of Indian Standards (BIS), and organizations such as the Central Public Works Department (CPWD) of Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department (PWD) of Kerala and Tamil Nadu, and the Tamil Nadu Housing Board. The company primarily distributes its products within Kerala. The product portfolio includes: - Solvent cement - Water tanks - Garden hoses - Rigid PVC electrical cables - PVC pipes Solve Plastic Products Limited employs a total of 165 people, excluding managing directors.

Year Founded

04-10-1994

Promotor Details

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage90.2263.33
Share Capital27662502766250

Offer to Public

13,02,000.00 Cr

Project Details

  • Working Capital Requirements - 38.255cr
  • Funding Capital Expenditure towards purchase of additional plant and machinery - 55.264cr
  • General Corporate Expenses - 8.8cr
  • Issue Related Expenses - 16.163cr

Objectives

  • A. Funding Capital Expenditure towards purchase of additional plant and machineryB. To meet the Working Capital RequirementsC. To meet the Issue ExpensesD. General Corporate Purposes

Highlights

  • Our company has a proven history of success and reliability, showcasing our ability to consistently meet industry standards and exceed customer expectations. This strong track record enhances our credibility and positions us as a trusted leader in the market.
  • We benefit from the extensive experience of our promoters and a skilled management team. Our motivated and efficient workforce is dedicated to driving the company's success, ensuring effective execution of our strategic goals.
  • We have developed cordial and long-lasting relationships with our customers, which foster trust and loyalty. These relationships are built on a foundation of mutual respect and a commitment to delivering quality products and services.
  • Quality is at the heart of our operations. We prioritize rigorous quality assurance and control measures to ensure that our products meet the highest standards. This dedication to quality reinforces our reputation and supports customer satisfaction.
  • Our focus on expanding current business relationships and improving operational efficiencies drives sustainable growth. We are committed to the optimal utilization of resources, improving capacity utilization, enhancing production, and product quality. Additionally, we aim to build a professional organization that supports long-term success.

Challenges

  • The company, along with its directors, promoters, and group companies, is involved in various legal proceedings. An unfavorable outcome in any of these cases could significantly impact the company’s business operations, financial results, and overall financial condition.
  • The company's future growth depends heavily on its ability to successfully implement its expansion plans. Any delays in placing orders or procuring machinery for its manufacturing facility could increase operational costs and disrupt the expansion timeline, negatively affecting its financial performance.
  • The presence of counterfeit products in the domestic market, mimicking the company’s offerings, poses a threat to its brand reputation and could adversely affect its operational results and goodwill.
  • The company’s revenue is heavily reliant on its PVC Pipe & Electrical Conduit segment. Any failure to adapt to product upgrades, maintain quality, or respond to reduced demand could adversely impact its revenue and growth prospects.
  • A significant portion of the company’s revenue is derived from a small number of customers. Losing any of these key customers could materially affect its operations and profitability. Similarly, the business depends on certain suppliers, and losing one or more could have a detrimental effect on its operations.
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