The Polysil Irrigation date has been confirmed from February 8, 2024 and closes on February 13, 2024.
Polysil Irrigation Developers IPO is a fixed price issue of Rs 17.44 crores. The price is ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
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Bidding Dates
Feb 8-13
Price Range
₹54 per share
Face Value
₹10 per share
GMP
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Polysil Irrigation IPO GMP
The Polysil Irrigation IPO GMP is ₹[].
IPO Overview
Polysil Irrigation Systems’ IPO is a fixed-price offering of Rs 17.44 crore. The issuance consists of a fresh issue of 14.44 lakh shares worth Rs 7.80 crore and an offer for sale of 17.85 lakh shares worth Rs 9.64 crore. Polysil Irrigation Systems’ initial public offering (IPO) will begin on February 8, 2024 and end on February 13, 2024. The allotment for Polysil Irrigation Systems’ IPO is expected to be finalised on Wednesday, February 14, 2024. Polysil Irrigation Systems IPO will be listed on NSE SME, with a tentative listing date of Friday, February 16, 2024.
Polysil Irrigation Systems has an IPO price of ₹54 per share. The minimum lot size for an application is 2000 Shares. Retail investors require a minimum investment of ₹108,000. HNIs can invest as little as 2 lots (4,000 shares) for ₹216,000.
Polysil Irrigation IPO Details
| IPO Date | February 8, 2024 to February 13, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,229,000 shares (aggregating up to ₹17.44 Cr) |
| Fresh Issue | 1,444,000 shares (aggregating up to ₹7.80 Cr) |
| Offer for Sale | 1,785,000 shares of ₹10 (aggregating up to ₹9.64 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,897,090 |
| Share holding post issue | 11,341,090 |
Polysil Irrigation Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,531.46 | 4,616.80 | 4,178.47 |
| Revenue | 4,392.49 | 3,767.21 | 5,471.58 |
| Profit After Tax | 113.53 | 33.75 | 64.81 |
| Net Worth | 1,535.71 | 1,372.06 | 1,338.31 |
| Reserves and Surplus | 546.00 | 1,326.56 | 1,292.82 |
| Total Borrowing | 1,547.25 | 1,494.96 | 1,104.83 |
| Amount in ₹ Lakhs | |||
Polysil Irrigation IPO Timeline
| IPO Open Date | Thursday, February 8, 2024 |
| IPO Close Date | Tuesday, February 13, 2024 |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 13, 2024 |
Company Profile
Polysil Irrigation Systems Limited was founded in 1985 and manufactures and distributes HDPE pipes, fittings, and micro irrigation systems, such as drip and sprinkler irrigation systems, as well as their components, accessories, and related products, under the Polysil brand. The company’s product line comprises HDPE pipes, pipe fittings, and irrigation equipment such as disc filters, screen filters, hydrocyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanical), fertiliser tanks, digital controllers, pressure gauges, and more.
Polysil Irrigation Systems serves Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana. The company sells its products through both institutional and open marketplaces. As of July 31, 2023, the company supplied its products through 8 distributors and about 425 dealers in India. The company’s manufacturing facility is located in Vadodara, Gujarat, and spans 100,000 square metres. As of March 31, 2023, the company employed 82 individuals, including skilled and unskilled workers, administrative staff, and the management team.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Polysil Irrigation Systems Limited |
| Phone number | 026 6724 4271/2 |
| Email ID | secretarial@polysilirrigation.com |
| Website | polysilirrigation.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
