Sati Poly Plast IPO opens today: Check issue size, price band, GMP and other details

Sati Poly Plast's SME IPO opened for subscription today and will remain open until July 16. The company aims to raise around Rs 17.36 crore by listing its shares on the NSE SME platform. Here are 10 essential details for investors to know before subscribing:

 

IPO Size

The IPO consists entirely of a fresh equity issue of 13.35 lakh shares, aiming to raise Rs 17.36 crore.

 

Price Band

Shares are offered at Rs 123-130 each, with a minimum bid of 1,000 shares per lot.

 

GMP

In the unlisted market, the shares have a grey market premium (GMP) of Rs 50, indicating a potential 39% listing gain if trends continue.

 

Company Overview

Sati Poly Plast manufactures flexible packaging materials, providing comprehensive solutions for various industries' packaging needs.

 

Industry Overview

Manufacturing is a key contributor to India's economic growth, driven by sectors like automotive, engineering, chemicals, pharmaceuticals, and consumer durables. Pre-pandemic, manufacturing contributed 16-17% to India’s GDP and is expected to be one of the fastest-growing sectors.

 

Financial Performance

For the year ending March 2024, the company reported total revenues of Rs 179 crore and a net profit of Rs 3.28 crore.

 

Purpose of the Offer

The funds will be used for working capital requirements, general corporate purposes, and covering public issue expenses.

 

Lead Managers and Registrar

Beeline Capital Advisors is the lead manager, and Link Intime India is the registrar.

 

Issue Structure

50% of the offer is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors.

 

Important Dates

The IPO opens on July 12 and closes on July 16, with final allotments likely on July 18. The shares are expected to be listed on July 22.

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