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Polysil Irrigation Systems IPO

Polysil Irrigation Systems IPO Dates, Price Band, Rating, GMP, Analysis, and Allotment Details 2024

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Polysil Irrigation Systems IPO

The initial public offering (IPO) of Polysil Irrigation Systems will open for subscription on February 08 and close on February 13, comprising fresh issues of Rs. 7.80 Crore and an offer for sale (OFS) of Rs. 9.64 Crore. An investor can apply for the issue for a minimum of 2000 shares and the listing will happen on February 16, 2024. 

#1. Quick Intro to Polysil Irrigation Systems   

Polysil Irrigation Systems Limited (1993) manufactures and distributes HDPE pipes, fittings, and micro irrigation systems, such as drip irrigation systems and sprinkler irrigation systems as well as their components, accessories, and related products under the brand name Polysil.

Check out the IPO allotment status on IPO Deliver.

#2. IPO Object of Polysil Irrigation Systems   

The company intends to use the IPO Funds for the following purposes: 

  1. Funding our working capital requirements.
  2. General corporate purpose.

#3. Polysil Irrigation Systems Core Strengths 

  1. Strong marketing and distribution network.
  2. Robust and scalable business model.
  3. Diversified customer base and long-standing relationship with our customers.
  4. Diversified product portfolio.
  5. Experienced promoter directors with extensive domain knowledge.
#4. Polysil Irrigation Systems IPO Review & Rating
Issue Size  Rs.17.44 Crore
Issue Price  Rs.54 per share 
Minimum Lot Size 2000 Shares
Total Profit (March 2023)  Rs.113.53 Lakh
ROE 13.84
ROCE 12.81
Listing on NSE SME
IPO Deliver Rating THREE

 

#5. Polysil Irrigation Systems IPO Dates, Price Band & Details

Polysil Irrigation Systems IPO will open on February 08, 2024, and close on February 13, 2024. The IPO is to be listed on February 16, 2024.  

Type of issue Fixed Price Issue IPO
Issue Size Rs.17.44 Crore
Price Brand Rs.54 per share
Face Value Rs. 10/- per share
IPO Open Date February 08, 2024
IPO Close Date February 13, 2024
IPO Allotment Date February 14, 2024
Refund Date February 15, 2024
Share Credit Date February 15, 2024
Listing Date February 16, 2024

 

#6. Polysil Irrigation Systems IPO Offer Details

Polysil Irrigation Systems IPO’s total issue size is 3,229,000 shares, comprising the below-mentioned categories. 

Offer Category Shares Offer Amount (Crore)
Fresh Issue 1,444,000 7.80
Offer for Sale (OFS) 1,785,000 9.64

 

#7. Polysil Irrigation Systems Financials Overview (Lakhs)

The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.

Category (Rs.) March 31, 2023 March 31, 2022 March 31, 2021
Total Revenue 4,392.49 3,767.21 5,471.58
Net Worth 1,535.71 1,372.06 1,338.31
Profit 113.53 33.75 64.81
Total Borrowings 1,547.25 1,494.96 1,104.83

 

#8. Polysil Irrigation Systems Quantitative Factors 

The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.

Category March 31, 2023 March 31, 2022 March 31, 2021
EPS (Rs.) 1.15 0.34 0.66
RoNW (%) 7.39 2.46 4.84
NAV (Rs.) 15.53 – –

 

#9. Polysil Irrigation Systems Comparison with Other Peer Companies (Top 2)

Listed companies in India are comparable in all aspects of the business. 

Company Names Total Revenue 

(Rs. in Lakhs)

 RoNW (%) NAV (Rs.)
Capital Polyplast Limited 22,459.70 7.79 14.36
RM Drip and Sprinklers Systems Limited 1095.41 0.23 19.04

 

#10. Polysil Irrigation Systems Company Promoters 

The company has two promoters as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). 

Sr. No. Name of Promoters
01. Bharatkumar Patel
02. Prafulbhai Radadia

 

#11. Polysil Irrigation Systems Pre-offer and Post-Offer Promoters Shareholding

Promoters Holding Percentage (%)
Pre-issue  33.79
Post-issue –

 

#12. Polysil Irrigation Systems IPO Reservation Details

Polysil Irrigation Systems IPO total reservation shares are distributed between the below-mentioned categories. 

Category Share Offered
Retail Share Offered 50% of the issue size
Other Shares Offered 50% of the issue size

 

#13. Polysil Irrigation Systems IPO – Lot Size

An investor can apply for a minimum of 2000 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:

Application Lot Size No. of Shares Amount (Rs.)
Retail (Min.) 1 2000 108,000
Retail (Max.) 1 2000 108,000
HNI (Min.) 2 4000 216,000

 

#14. Polysil Irrigation Systems IPO – Prospectus Copy

An investor can download/view the Polysil Irrigation Systems prospectus copy, which the company filed to exchange, details are as follows. 

Polysil Irrigation Systems IPO Prospectus
Draft Red Herring Prospectus (DRHP)
Red Herring Prospectus (RHP)

 

#15. Polysil Irrigation Systems IPO Registrar 

Bigshare Services Private Limited

Phone No.: +91-22-62638200

E-Mail: ipo@bigshareonline.com

Website: www.bigshareonline.com

#16. Polysil Irrigation Systems IPO Lead Manager

Fedex Securities Private Limited

Phone No.: +91-8104985249

E-Mail: mb@fedsec.in

Website: www.fedsec.in 

#17. Polysil Irrigation Systems IPO Application (How to Apply for an IPO)

There are three primary options for applying for a Polysil Irrigation Systems  IPO, details are as follows: 

Option-1 Apply for IPO through Internet Banking

Step-1. Log into your bank account.

Step-2. In the invest Tab, you will see ASBA, click on it.

Step-3. Choose to apply for IPO and select the ongoing IPO “Polysil Irrigation Systems    Limited”

Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment. 

Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively. 

Option-2 Apply for IPO through a Broker firm

Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)

Step-2. Click on the IPO tab and select the ongoing IPO “Polysil Irrigation Systems    Limited”

Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.

Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you. 

Option-3 Apply for IPO Offline Mode Bank mode

Step-1. Visit the nearest branch of your bank.

Step-2. Fill out the ASBA form and submit it with KYC details. 

Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you. 

#18. Polysil Irrigation Systems Company Details

Polysil Irrigation Systems Limited 

Registered Office: Survey No-340/I, Beside Hystuff Steel, At Post Raniya, Taluka Savli, District Vadodara-391780, Gujarat, India.

Phone No: +91-026-67244271/2

Email: secretarial@polysilirrigation.com

Website: www.polysilirrigation.com

Investor Grievances/Compliance Officer: Neha Gupta

#19. Polysil Irrigation Systems Subsidiary Companies (Top 2)

Sr.No. Name of Companies (Indian)
01. –
02. –

 

#20. Polysil Irrigation Systems Company Board (Top 2)

Sr. No. Name of Directors
01. Bharatkumar Patel
02. Prafulbhai Radadia

 

Polysil Irrigation Systems IPO – Frequently Asked Questions (FAQs)

#1. What is a Polysil Irrigation Systems IPO?

Polysil Irrigation Systems brings its IPO of Rs.17.44 Crore, on February 08, 2024, with a price band of Rs.54 per share.

 

#2. What is the Polysil Irrigation Systems IPO Open date?

Polysil Irrigation Systems  IPO’s opening date is February 08, 2024.

 

#3. What is the Polysil Irrigation Systems IPO Close Date?

Polysil Irrigation Systems  IPO’s closing date is February 13, 2024.

 

#4. What is the Polysil Irrigation Systems IPO Listing date?

Polysil Irrigation Systems’s IPO listing date is February 16, 2024.

 

#5. What is the Polysil Irrigation Systems IPO Minimum investment amount?

Polysil Irrigation Systems IPO’s minimum investment amount is Rs. 108,000.

 

#6. What is the Polysil Irrigation Systems IPO offer issue Size?

Polysil Irrigation Systems offers an issue size of Rs.17.44 Crore.

 

#7. What is the Polysil Irrigation Systems IPO Price Band?

Polysil Irrigation Systems’s IPO price band is Rs.54 per share.

 

#8. Is Polysil Irrigation Systems IPO mainboard IPO or SME IPO?

Polysil Irrigation Systems IPO is an SME IPO.

 

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