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SPP Polymers IPO
SPP Polymer Ltd
₹1,18,000 /2000 sharesMinimum investment
IPO details
Minimum investment
₹1,18,000
Price range
₹59 - ₹59
Lot size
2,000
Issue size
24.49 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
10 Sep 2024
IPO open date
12 Sep 2024
IPO close date
13 Sep 2024
Allotment date
13 Sep 2024
Funds unblock or debit
17 Sep 2024
Tentative listing date
About
Founded in
2004
MD/CEO
Mr. Dipak Goyal
Parent organisation
SPP Polymer Ltd
SPP Polymers Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
SPP Polymers has a 9001:2015 certification for quality management systems, ISO 45001:2018 certification for occupational health and safety management systems, and SA 8000:2014 certification for environmental management systems.
The company has an in-house quality testing laboratory and claims to comply with international standards throughout every stage of production.
The company has seen a consistent increase in profit after tax (PAT). PAT increased from Rs 0.28 crore in FY22 to Rs 0.54 crore in FY23 to Rs 0.99 crore in FY24.
SPP Polymers, along with its group company, promoters, and directors, are involved in various litigations, some of which are criminal. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
The company relies on its manufacturing facility located in Uttarakhand for smooth operations. Any adverse developments in the environment of the state can disrupt the functioning of the company.
The company’s sales are dependent on a small number of customers. The top 10 customers contributed 86.87%, 84.93%, and 89.66% to the sales in FY22, FY23, and FY24. Any loss of these customers or a decline in demand from them can adversely affect the company’s finances.
The company distributes its products largely in North India (Haryana, Punjab, Uttar Pradesh, and Uttarakhand). Uttar Pradesh in particular contributed 25.20%, 39.74%, and 40.50% in FY24, FY23 and FY22 to the revenue from operations. Any adverse changes in the business environment of these states can hurt the company’s operations.
The company manufactures plastic products. Due to increased awareness about the negative effects of plastic usage, many countries have taken initiatives to reduce its use. If India too takes that route or bans the use of plastic, then the company will be severely affected.
As of June 30, 2024, the company has outstanding secured loans amounting to Rs 18.72 crore. Any inability to service or repay these loans could adversely affect the company’s business.
Application details
For SPP Polymers IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹59 - ₹59 | ₹2 - ₹5 Lakhs | 2000 |
| High Networth Individual | ₹59 - ₹59 | ₹2 - ₹5 Lakhs | 2000 |