Solve Plastic Products Limited

Company Name	Solve Plastic Products Limited
Open Date	13-08-2024
Close Date	16-08-2024
Exchange	NSE SME
Lot Size	1200 Shares
Issue Price	₹91 per share
Issue Size	13,02,000 shares
Application Amount	₹1,09,200
Recommendation	Avoid

Company Background – Incorporation: Founded in 1994, Solve Plastic Products Limited, The registered office is located at Kollam, Kerala, India. Business Activity: Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized polyvinyl chloride) and Rigid PVC electrical conduits and markets them under the brand name "BALCOPIPES" Revenue Stream: The company derives most of its revenue from PVC-based pipes and electrical conduits segment, with 70.27% of FY24 revenue from conduits and 22.75% from pipes. Human Resource: The company has a total of 165 employees on it’s payroll.

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Summary of Financials (All financials in Lakh)

KPIs	Mar-22	Mar-23	Mar-24
Revenue	5,506.51	6,077.17	4,619.13
EBITDA	97.20	196.29	280.86
Net Profit	-40.71	120.27	142.48
RoCE	4.51%	20.45%	23.15%
ROE	-56.31%	62.46%	32.47%
P/E	-	22.98	19.53

Tentative Timeline

Opening Date	13-08-2024
Closing Date	16-08-2024
Basis of Allotment	19-08-2024
Initiation of Refunds	20-08-2024
Credit of Shares to Demat	20-08-2024
Listing Date	21-08-2024

Objects of the Issue

Funding Capital Expenditure towards the purchase of additional plant and machinery;

To meet Working Capital Requirement

To meet issue expenses;

General Corporate Purposes

Contact Information

Registered Office	Solve Plastic Products Limited Door No XIII/690/ABC, Tholicode, Punalur, Kollam - 691333
Phone	+91 99956 31001
Email	cs@balcopipes.com
Website	https://www.balcopipes.com/

Offer Documents

Solve Plastic Products IPO DRHP

Solve Plastic Products IPO RHP

Registrar Details

Name	Integrated Registry Management Services Private Limited
Phone	044 - 28140801 to 28140803
Email	smeipo@integratedindia.in
Website	https://www.integratedregistry.in/registrarstosta.aspx?od=1

IPO Reservation

Anchor Investor Shares Offered	-
Market Maker Shares Offered	66,000 (5.07%)
Other Shares Offered	618,000 (47.47%)
Retail Shares Offered	618,000 (47.47%)

Shareholding Pattern

Share Holding Pre Issue (Promoters)	79.05%
Share Holding Post Issue (Promoters)	49.87%