Polysil Irrigation Systems IPO is a fixed price issue of Rs17.44 crores. The issue is a combination of fresh issue of14.44 lakh shares adding up to Rs7.80 crores and offer for trade of17.85 lakh shares adding up to Rs9.64 crores.
Polysil Irrigation Systems IPO opens for subscription on February 8, 2024 and closes on February 13, 2024. The allotment for the Polysil Irrigation Systems IPO is anticipated to be perfected on Wednesday, February 14, 2024. Polysil Irrigation Systems IPO will list on NSE SME with conditional table date fixed as Friday, February 16, 2024.
Polysil Irrigation Systems IPO price is ₹ 54 per share. The minimal lot size for an operation is 2000 Shares. The minimal quantum of investment needed by retail investors is ₹ 108,000. The minimal lot size investment for HNI is 2 lots( 4,000 shares) amounting to ₹ 216,000.
Polysil Irrigation Systems IPO Information
| 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 |
| Market Maker portion | 164,000 shares |
Polysil Irrigation Systems IPO ( Schedule Tentative)
| 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 |
Polysil Irrigation Systems IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Polysil Irrigation Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Investors can bid at a minimum of 2000 shares and their multiples. The below table depicts the minimum &maximum investment by retail investors &HNI in terms of shares and amount.
Polysil Irrigation Systems IPO Promoter Holding
Bharatkumar Patel and Prafulbhai Radadia are the promoters of the company.
Polysil Irrigation Systems IPO Promoter Holding
Bharatkumar Patel and Prafulbhai Radadia are the promoters of Polysil Irrigation Systems
Polysil Irrigation Systems Limited-About
Polysil Irrigation Systems Limited was established in 1985 and manufactures and distributes HDPE pipes, fittings, and micro irrigation systems, similar as drip irrigation systems and sprinkler irrigation systems as well as their factors, accessories, and affiliated products under the brand name Polysil.
The company’s product range includes HDPE pipes, pipe fittings, and irrigation outfit, including slice pollutants, screen pollutants, hydrocyclone pollutants, beach pollutants( clay), contraction fittings, faucets( electrical and mechanical), toxin tanks, digital regulators, pressure pledges,etc.
Polysil Irrigation Systems operates in Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. The company sells its products through institutional requests and the open request. As of July 31, 2023, the company vended its products through 8 distributors and around 425 dealers in India.
The company’s manufacturing unit is located in Vadodara, Gujarat, and covers an area of 100,000 square measures.
As of March 31, 2023, the company had 82 people, including professed and unskilled workers, executive staff, and the operation platoon.
Polysil Irrigation Systems Limited Financial Details
Polysil Irrigation Systems Limited’s profit increased by16.6 and profit after duty( PAT) rose by236.39 between the fiscal time ending with March 31, 2023 and March 31, 2022.