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SPP Polymer Ltd

SPP Polymer Ltd IPO

Status: Closed

Overview

IPO date
10 Sept 2024 to 12 Sept 2024
Face value
₹ 10 per share
Price
₹ 59 per share
Issue Size
4,150,000 shares
(aggregating up to ₹ 24.49 Cr)
Allotment Date
13 Sept 2024
Listing at
NSE
Issue type
Fixed Price - SME
Sector
Packaging

Objectives of SPP Polymer Ltd IPO

Initial public issue of 41,50,000 equity shares of face value of Rs. 10/- each of SPP Polymer Limited ("SPP Polymer" or the "Company" or the "Issuer") for cash at a price of Rs. 59/- per equity share including a share premium of Rs. 49/- per equity share (the "Issue Price") aggregating to Rs. 24.49/-crores ("The Issue"), of which 2,10,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 59 /- per equity share including a share premium of Rs. 49 per equity share aggregating to Rs. 1.24 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 39,40,000 equity shares of face value of Rs. 10/- each at a price of Rs. 59 /- per equity share aggregating to Rs. 23.25/- crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.96 % and 25.59 % respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10 /- each and the issue price is 5.9 times of the face value.

SPP Polymer Ltd IPO Strategy

  • Continue to strive for cost efficiency.
  • Expand our geographical footprint and customer network.
  • Maintain our focus to strengthen customer relationship.
  • Focus on rationalizing our indebtedness.

About SPP Polymer Ltd

SPP Polymer Ltd was originally incorporated dated August 17, 2004 as 'S.P.P. Food Products Private Limited' as a Private Limited Company vide Certificate of Incorporation dated August 27, 2004, issued by the Registrar of Companies, N.C.T. of Delhi & Haryana. The name of Company was changed to 'SPP Polymer Private Limited' dated May 12, 2023. Thereafter, the Company converted to Public Limited Company and the name of Company was changed to 'SPP Polymer Limited' and a fresh Certificate of Incorporation dated September 20, 2023 was issued to Company by the Registrar of Companies, Delhi. Company is an ISO 9001:2015 certified engaged in manufacturing of HDPE/PP woven fabric & bags, Non-woven fabrics & bags and PP Multifilament yarn. The Company offer packaging solutions to Business to Business (B2B) manufacturers catering to different industries such as cements, chemicals, food grains, sugars, polymers, agriculture, and others for the packaging of goods in big quantities. It has manufacturing plant at Pantnagar, in Uttarkhand. It has installed capacity of HDPE/PP Woven Fabric and bags 9125 MT and NonWoven Fabric 3600 MT. Apart from this, it provide customized solutions as per the specifications detailed by clients. The Company is also ISO 45001: 2018 and SA 8000:2014 certified occupational health & safety management system and environment management system. Secondly, the leno fabrics are used for packing of vegetables, fruits etc. These fabrics are light in weight and ideally suited for packaging corrugated or wooden boxes, cloth bales, machinery, and many other finished goods for complete protection. They are used in making of bags, sacks, packing for Textiles, Upholstery, Carpets, Making Tarpaulin Covers, and Open-Air Storage. The fabric is available in laminated and unlaminated form through in-house lamination facility. HDPE (High-Density Polyethylene) and PP (Polypropylene) woven fabrics are versatile materials that find applications in various industries. These woven fabrics are made by weaving together plastic strips/ yarns, resulting in a strong and durable fabric with excellent tear resistance and tensile strength. The Company is proposing the Initial Public Offer of 42,00,000 fresh issue equity shares.

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T&C*

Strengths vs Risks of SPP Polymer Ltd

Know the pros & cons

Strengths

  • arrowQuality Assurance.
  • arrowExperienced Promoter and Management Team.
  • arrowOur Product portfolio.
  • arrowDiversified customer base and long-standing relationship with our customers.

Risks

  • arrowYou will not be able to sell immediately on Indian Stock Exchanges any of the Equity Shares you purchase in the Issue until the Issue receives appropriate trading permissions.
  • arrowThe requirements of being a listed company may strain its resources.
  • arrowAny changes in the regulatory framework could adversely affect its operations and growth prospects.
  • arrowGlobal economic, political and social conditions may harm its ability to do business, increase the company costs and negatively affect its stock price.
  • arrowCivil disturbances, extremities of weather, regional conflicts and other political instability may have adverse effects on its operations and financial performance.
  • arrowThe company is subject to risks arising from interest rate fluctuations, which could adversely impact its business, financial condition and operating results.
  • arrowThe price of its Equity Shares may be volatile, or an active trading market for the company Equity Shares may not develop.
  • arrowThere are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • arrowThe Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • arrowTaxes and other levies imposed by the Government of India or other State Governments, as well as other financial policies and regulations, may have a material adverse impact on its business, financial condition and results of operations.
  • arrowTerrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, its business, financial condition and the price of the company Equity Shares.
  • arrowNatural calamities could have a negative impact on the Indian economy and cause the Company's business to suffer.
  • arrowCivil disturbances, extremities of weather, regional conflicts and other political instability may have adverse effects on its operations and financial performance.
  • arrowForeign investors are subject to foreign investment restrictions under Indian law that limits its ability to attract foreign investors, which may adversely impact the market price of the Equity Shares.
  • arrowTaxes and other levies imposed by the Government of India or other State Governments, as well as other financial policies and regulations, may have a material adverse impact on its business, financial condition and results of operations.
  • arrowThere is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the Emerge Platform of NSE in a timely manner, or at all.

SPP Polymer Ltd Peer Comparison

Understand the company’s industry standing

SPP Polymer Ltd
Rishi Techtex Ltd
Emmbi Industries Ltd
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
93.8129
111.9616
377.596
EPS-Basis
0.88
1.82
5.62
EPS-Diluted
---
---
---
NAV Per Share
22.24
43.09
961.69
P/E-Basic EPS
66.72
33.90
21.89
P/E-Diluted EPS
---
---
---
RONW(%)
3.52
4.23
5.85
Latest NAV Period
---
---
---
Latest NAV
---
---
---
steps

How to check the allotment status of SPP Polymer Ltd IPO?

Follow the steps

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Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).

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The IPO opens on 10 Sept 2024 & closes on 12 Sept 2024.

SPP Polymer Ltd was originally incorporated dated August 17, 2004 as 'S.P.P. Food Products Private Limited' as a Private Limited Company vide Certificate of Incorporation dated August 27, 2004, issued by the Registrar of Companies, N.C.T. of Delhi & Haryana. The name of Company was changed to 'SPP Polymer Private Limited' dated May 12, 2023. Thereafter, the Company converted to Public Limited Company and the name of Company was changed to 'SPP Polymer Limited' and a fresh Certificate of Incorporation dated September 20, 2023 was issued to Company by the Registrar of Companies, Delhi. Company is an ISO 9001:2015 certified engaged in manufacturing of HDPE/PP woven fabric & bags, Non-woven fabrics & bags and PP Multifilament yarn. The Company offer packaging solutions to Business to Business (B2B) manufacturers catering to different industries such as cements, chemicals, food grains, sugars, polymers, agriculture, and others for the packaging of goods in big quantities. It has manufacturing plant at Pantnagar, in Uttarkhand. It has installed capacity of HDPE/PP Woven Fabric and bags 9125 MT and NonWoven Fabric 3600 MT. Apart from this, it provide customized solutions as per the specifications detailed by clients. The Company is also ISO 45001: 2018 and SA 8000:2014 certified occupational health & safety management system and environment management system. Secondly, the leno fabrics are used for packing of vegetables, fruits etc. These fabrics are light in weight and ideally suited for packaging corrugated or wooden boxes, cloth bales, machinery, and many other finished goods for complete protection. They are used in making of bags, sacks, packing for Textiles, Upholstery, Carpets, Making Tarpaulin Covers, and Open-Air Storage. The fabric is available in laminated and unlaminated form through in-house lamination facility. HDPE (High-Density Polyethylene) and PP (Polypropylene) woven fabrics are versatile materials that find applications in various industries. These woven fabrics are made by weaving together plastic strips/ yarns, resulting in a strong and durable fabric with excellent tear resistance and tensile strength. The Company is proposing the Initial Public Offer of 42,00,000 fresh issue equity shares.

SPP Polymer Ltd IPO will close on 12 Sept 2024.

  • Quality Assurance.
  • Experienced Promoter and Management Team.
  • Our Product portfolio.
  • Diversified customer base and long-standing relationship with our customers.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Dipak Goyal 1688232 15.02 1688232 10.97
2 Mahavir Bahety 1989396 17.7 1989396 12.93
3 Liladhar Mundhara 2337904 20.8 2337904 15.19
4 Asha Ram Bahety 2176108 19.36 2176108 14.14
5 Chand Ratan Mundhara --- --- --- ---

  • You will not be able to sell immediately on Indian Stock Exchanges any of the Equity Shares you purchase in the Issue until the Issue receives appropriate trading permissions.
  • The requirements of being a listed company may strain its resources.
  • Any changes in the regulatory framework could adversely affect its operations and growth prospects.
  • Global economic, political and social conditions may harm its ability to do business, increase the company costs and negatively affect its stock price.
  • Civil disturbances, extremities of weather, regional conflicts and other political instability may have adverse effects on its operations and financial performance.
  • The company is subject to risks arising from interest rate fluctuations, which could adversely impact its business, financial condition and operating results.
  • The price of its Equity Shares may be volatile, or an active trading market for the company Equity Shares may not develop.
  • There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • Taxes and other levies imposed by the Government of India or other State Governments, as well as other financial policies and regulations, may have a material adverse impact on its business, financial condition and results of operations.
  • Terrorist attacks, civil unrests and other acts of violence or war involving India or other countries could adversely affect the financial markets, its business, financial condition and the price of the company Equity Shares.
  • Natural calamities could have a negative impact on the Indian economy and cause the Company's business to suffer.
  • Civil disturbances, extremities of weather, regional conflicts and other political instability may have adverse effects on its operations and financial performance.
  • Foreign investors are subject to foreign investment restrictions under Indian law that limits its ability to attract foreign investors, which may adversely impact the market price of the Equity Shares.
  • Taxes and other levies imposed by the Government of India or other State Governments, as well as other financial policies and regulations, may have a material adverse impact on its business, financial condition and results of operations.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the Emerge Platform of NSE in a timely manner, or at all.

The Issue type of SPP Polymer Ltd is Fixed Price - SME.

The minimum application for shares of SPP Polymer Ltd is 2000.

The total shares issue of SPP Polymer Ltd is 4150000.

Initial public issue of 41,50,000 equity shares of face value of Rs. 10/- each of SPP Polymer Limited ("SPP Polymer" or the "Company" or the "Issuer") for cash at a price of Rs. 59/- per equity share including a share premium of Rs. 49/- per equity share (the "Issue Price") aggregating to Rs. 24.49/-crores ("The Issue"), of which 2,10,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 59 /- per equity share including a share premium of Rs. 49 per equity share aggregating to Rs. 1.24 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 39,40,000 equity shares of face value of Rs. 10/- each at a price of Rs. 59 /- per equity share aggregating to Rs. 23.25/- crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.96 % and 25.59 % respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10 /- each and the issue price is 5.9 times of the face value.