IPO Details
Bidding Dates
10 Sept 24 - 12 Sept 24
Price Range ₹
59 - 0
Total Equity
₹ 24.49Cr
Lot Size
2000
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
10 Sept 2024
Offer end
12 Sept 2024
Allotment
13 Sept 2024
Refund initiation
16 Sept 2024
Demat transfer
16 Sept 2024
Listing
17 Sept 2024
Offer start
10 Sept 2024
Offer end
12 Sept 2024
Allotment
13 Sept 2024
Refund initiation
16 Sept 2024
Demat transfer
16 Sept 2024
Listing
17 Sept 2024
About Company
Established in 2004, SPP Polymers Limited, formerly known as SPP Food Products Private Limited, specializes in the production of a broad range of HDPE/PP woven fabrics and bags, non-woven fabrics and bags, as well as multifilament yarn. The company is based in Rudrapur City, Uttarakhand. Its product offerings include: - HDPE/PP Woven Fabric - HDPE/PP Woven Bags - Non-woven Fabric - Non-woven Bags - Multifilament PP Yarn SPP Polymers provides customized solutions tailored to client specifications. The company has an installed production capacity of 12,000 MT per year for HDPE/PP woven fabric and bags, 4,000 MT per year for non-woven fabric, and 300 MT per year for multifilament yarn. SPP Polymers is accredited with ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, and SA 8000:2014 certifications, highlighting its commitment to quality management, occupational health and safety, and environmental responsibility. The company's products are primarily used by clients in industries such as agro-pesticides, cement, chemicals, fertilizers, food products, textiles, ceramics, and steel. As of December 31, 2024, the company employs four full-time staff members.
Year Founded
17-08-2004
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 94.99 | 69.37 |
| Share Capital | 10678004 | 10678004 |
Offer to Public
41,50,000.00 Cr
Project Details
- Repayment of Loan - 77.5cr
- Working capital requirement - 98.65cr
- General corporate purposes - 58.7cr
Objectives
- Repayment of LoanWorking capital requirementGeneral Corporate Purpose
Highlights
- SPP Polymers is certified with ISO 9001:2015 for quality management, ISO 45001:2018 for occupational health and safety, and SA 8000:2014 for environmental management, showcasing a strong commitment to industry standards.
- The company operates an in-house quality testing laboratory, ensuring that its production processes align with international standards at every stage.
- SPP Polymers has demonstrated consistent financial growth, with profit after tax (PAT) increasing steadily from ₹0.28 crore in FY22 to ₹0.54 crore in FY23, and further to ₹0.99 crore in FY24.
- The company places significant emphasis on maintaining high production standards, which strengthens its market reputation for quality and reliability.
- The company's focus on compliance with international certifications highlights its dedication to maintaining safety, quality, and environmental responsibility across operations.
Challenges
- SPP Polymers, along with its group company, promoters, and directors, is involved in several litigations, including criminal cases. Any unfavorable judgments could significantly harm the company's business prospects.
- The company relies heavily on its manufacturing facility in Uttarakhand, and any adverse developments in the state could disrupt its operations.
- A significant portion of the company's sales is concentrated among a small group of customers, with the top 10 contributing 86.87% in FY22, 84.93% in FY23, and 89.66% in FY24. Losing any key customers or a reduction in demand could severely impact financial performance.
- SPP Polymers' revenue is largely concentrated in North India, particularly in Uttar Pradesh, which accounted for 25.20%, 39.74%, and 40.50% of sales in FY24, FY23, and FY22, respectively. Any negative changes in the business environment of these regions could adversely affect operations.
- The company operates in the plastic manufacturing sector, which faces growing scrutiny due to environmental concerns. If India implements stricter regulations or bans plastic usage, the company's business could suffer significantly.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 2,198.23 | 216.00 | 54.42 | 54.42 | 0.4841 |
| 2022 | 3,779.95 | 274.60 | 99.40 | 99.40 | 0.8842 |
| 2024 | 7,062.47 | 1,124.12 | 28.01 | 28.01 | 0.255 |
| 2023 | 5,406.39 | 281.03 | 54.42 | 54.42 | 0.4841 |
