Polysil Irrigation Systems Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 8, 2024 to February 13, 2024 |
| Listing Date | February 16, 2024 |
| Face Value | ₹ 10 per share |
| Price | ₹ 54 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 32,29,000 shares (aggregating up to ₹ 17.44 Cr) |
| Fresh Issue | 14,44,000 shares (aggregating up to ₹ 7.80 Cr) |
| Offer for Sale | 17,85,000 shares of ₹10 (aggregating up to ₹ 9.64 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 98,97,090 |
| Share holding post issue | 1,13,41,090 |
| Market Maker portion | 1,64,000 shares Market-Hub Stock Broking |
About Polysil Irrigation Systems Limited IPO
Polysil Irrigation is a fully integrated player within the Drip Irrigation and Sprinkler Irrigation sectors, with a significant presence in Micro Irrigation Industry. As a well-recognized industry leader, Polysil Irrigation has a Pan India reach and employing over 700 people across geographies, ethnicities and cultures. Polysil’s vast footprint allows the company to leverage business associations with a marquee of esteemed clients, especially with the Various State Government, Agriculture NGOs and Big Corporates. With a steadfast commitment to areas of Micro Irrigation, Farmer Empowerment and Agriculture Environment, Polysil works closely with local communities to touch, heal and better the lives of farmers around the Country.
Polysil Irrigation Systems IPO is a fixed price issue of Rs 17.44 crores. The issue is a combination of fresh issue of 14.44 lakh shares aggregating to Rs 7.80 crores and offer for sale of 17.85 lakh shares aggregating to Rs 9.64 crores. Polysil Irrigation Systems IPO price is ₹54 per share. The minimum lot size for an application is 2000 Shares. Fedex Securities Pvt Ltd is the book running lead manager of the Polysil Irrigation Systems IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Polysil Irrigation Systems IPO is Market-Hub Stock Broking.
Objectives of Polysil Irrigation Systems IPO
The company proposes to utilize the Net Proceeds from the Offer towards the following objectives:
- 1. Funding our Working Capital Requirements.
- 2. General Corporate Purpose.
Polysil Irrigation Systems IPO Review
The company is operating in a highly competitive and fragmented segment. It marked erratic top and bottom lines for the reported periods. Super earnings for 4.5M of FY24 not only raise eyebrows, but also major concern over its sustainability going forward. Based on FY24 annualized earnings, the issue appears aggressively priced. There is no harm in skipping this pricey bet.
Polysil Irrigation Systems Limited IPO Financial Information
Latest Revenue
₹ 1,019.74 Cr
Profit After Tax
₹ 110.31 Cr
Net Worth
₹ 1,646.02 Cr
Total Borrowing
₹ 1,566.17 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31 Aug 2023 | 5,671.49 | 1,019.74 | 110.31 | 1,646.02 | 1,566.17 |
| 31 Mar 2023 | 5,531.46 | 4,392.49 | 113.53 | 1,535.71 | 1,547.25 |
| 31 Mar 2022 | 4,616.80 | 3,767.21 | 33.75 | 1,372.06 | 1,494.96 |
| 31 Mar 2021 | 4,178.47 | 5,471.58 | 64.81 | 1,338.31 | 1,104.83 |
| Amount in ₹ Crore | |||||
Polysil Irrigation Systems Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 7.39% |
| ROCE | 12.81% |
| Debt/Equity | 1.01 |
| RoNW | 7.39% |
| P/BV | 3.48 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.15 | 2.33 |
| P/E (x) | 47.08 | 23.13 |
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Competitive Strengths
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Polysil Irrigation Systems Limited 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹ 1,08,000 |
| Retail (Max) | 1 | 2,000 | ₹ 1,08,000 |
| HNI (Min) | 2 | 4,000 | ₹ 2,16,000 |