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
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
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 90.22 | 63.33 |
| Share Capital | 2766250 | 2766250 |
Offer to Public
13,02,000.00 Cr
Project Details
- General Corporate Expenses - 8.8cr
- Issue Related Expenses - 16.163cr
- Working Capital Requirements - 38.255cr
- Funding Capital Expenditure towards purchase of additional plant and machinery - 55.264cr
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.
