Sati Poly Plast IPO To Open On July 12: Check Price Band And Other Key IPO Details
The company specialises in manufacturing multifunctional flexible packaging materials catering to diverse industry packaging needs.
Sati Poly Plast Ltd. is set to debut on the stock market with its initial public offering, aiming to raise Rs 17.36 crore through a fresh issue of 13.35 lakh shares. The company specialises in manufacturing multifunctional flexible packaging materials catering to diverse industry packaging needs.
Check here the final subscription status of Sati Poly Plast IPO.
Sati Poly Plast IPO Details
The IPO subscription period for Sati Poly Plast opens on July 12, 2024, and closes on July 16, 2024, with allotment expected by July 18, 2024. The company plans to list its shares on the NSE SME platform, with trading anticipated to commence on July 22, 2024.
Must Read: How to check Sati Poly Plast IPO allotment status
The IPO price band is set between Rs123 to Rs 130 per share. Retail investors need to apply for a minimum of 1000 shares, requiring an investment of Rs 130,000. The minimum lot size for High Net-Worth Individuals is 2 lots (2000 shares), amounting to Rs 260,000.
Sati Poly Plast IPO has reserved 50% of the net issue for qualified institutional buyers (QIBs), 15% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 70,000 equity shares have been allotted to the market maker portion.
As per the company's Red Herring Prospectus, Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the Sati Poly Plast IPO, with Link Intime India Private Ltd appointed as the registrar. Spread X Securities will serve as the market maker for the IPO.
About Sati Poly Plast Limited
Founded in July 1999, Sati Poly Plast Limited specialises in manufacturing multifunctional flexible packaging materials catering to diverse industry packaging needs.
The company operates two manufacturing units: Plant 1 in Gautam Budh Nagar, Noida, with a monthly production capacity of 540 tons, and Plant 2 in Udhyog Kendra, Noida, also capable of producing 540 tons per month. Over recent years, the company has significantly expanded its production capacity, enhancing operational efficiency and market reach.
Sati Poly Plast supplies its packaging materials across various states including Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Puducherry, Punjab, Rajasthan, and others.
Sati Poly Plast IPO: Use of Funds and Objectives
The net proceeds from the IPO's fresh issue will primarily be allocated towards:
- Meeting working capital requirements.
- General corporate purposes to bolster operational capabilities and market expansion initiatives.
Financial Performance
In the fiscal year ending March 31, 2024, Sati Poly Plast Limited reported a slight decline of -6.05% in revenue, while Profit After Tax (PAT) registered a modest increase of 6.39% compared to the previous fiscal year. The company's resilient financial performance underscores its stability and strategic management amidst market fluctuations.
