Polysil Irrigation Systems Limited is 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.
The company’s product range includes HDPE pipes, pipe fittings, and irrigation equipment, including disc filters, screen filters, hydrocyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanical), fertilizer tanks, digital controllers, pressure gages, etc.
Polysil Irrigation Systems operates in Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. The company sells its products through institutional markets and the open market. As of July 31, 2023, the company sold its products through 8 distributors and around 425 dealers in India.
The company’s manufacturing unit is located in Vadodara, Gujarat, and covers an area of 100,000 square meters.
As of March 31, 2023, the company had 82 people, including skilled and unskilled workers, administrative staff, and the management team.
Polysil Irrigation Systems IPO – Details
| IPO Opening Date | 08 February 2024 |
| IPO Closing Date | 13 February 2024 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | 32,29,000 Shares Worth ₹17.44 Crore Fresh Issue: 14,44,000 Shares Worth ₹7.80 Crore Offer For Sale: 17,85,000 Shares Worth ₹9.64 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹54 |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Bigshare Services Pvt Ltd |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Polysil Irrigation Systems IPO – Date Schedule
| IPO Open Date | 08 February 2024 |
| IPO Close Date | 13 February 2024 |
| Basis of Allotment | 14 February 2024 |
| Initiation of Refund | 15 February 2024 |
| Credit of Shares to Demat Account | 15 February 2024 |
| IPO Listing Date | 16 February 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 13 February 2024 |
Polysil Irrigation Systems IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 2000 | 1,08,000 |
| Retail (Maximum) | 1 | 2000 | 1,08,000 |
| HNI (Minimum) | 2 | 4000 | 2,16,000 |
Competitive Strengths
- Strong Marketing and Distribution network;
- Robust and Scalable Business Model;
- Diversified customer base and long-standing relationship with our customers;
- Diversified Product Portfolio;
- Experienced Promoter Directors with extensive domain knowledge.
Company Promoters
- Bharatkumar Patel
- Prafulbhai Radadia
Object Of The Issue
- Funding our Working Capital Requirements; and
- General Corporate Expenses.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 54.71 | 53.67 | 0.64 | 11.04 |
| 31 March 2022 | 37.67 | 36.98 | 0.33 | 14.94 |
| 31 March 2023 | 43.92 | 41.27 | 1.13 | 15.47 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 7.39% |
| ROCE | 12.81% |
| Debt/Equity | 1.01 |
| RoNW | 7.39% |
| P/BV | 3.48 |
Polysil Irrigation Systems IPO Promoter Holding
| Pre Issue Share Holding | 33.79% |
| Post Issue Share Holding | 29.49% |
Polysil Irrigation Systems IPO Prospectus
Company Contact Information
| Polysil Irrigation Systems Limited Survey No- 340/1, Beside Hystuff Steel, At Post Raniya, Taluka Savli, District Vadodara – 391780 Phone: 026 6724 4271/2 Email: secretarial@polysilirrigation.com Website: https://polysilirrigation.com/ |
Polysil Irrigation Systems IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
Polysil Irrigation Systems IPO Lead Manager(s)
| 1. Fedex Securities Pvt Ltd |
Polysil Irrigation Systems IPO FAQs
| What is Polysil Irrigation Systems IPO? Polysil Irrigation Systems IPO is a SME IPO. The issue is priced at ₹54 per equity share. The IPO is to be listed on NSE SME. |
| When Polysil Irrigation Systems IPO will open? The IPO is to open on 08 February 2024 for NII – 50% and Retail – 50% Investors. |
| How to Polysil Irrigation Systems IPO? You can apply Polysil Irrigation Systems IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Polysil Irrigation Systems IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Polysil Irrigation Systems”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Polysil Irrigation Systems IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Polysil Irrigation Systems”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is Polysil Irrigation Systems IPO Size? Polysil Irrigation Systems IPO size is ₹17.44 crores. |
| What is Polysil Irrigation Systems IPO Price Band? Polysil Irrigation Systems IPO Price Band is ₹54. |
| What is Polysil Irrigation Systems IPO Minimum and Maximum Lot Size (Retail)? The minimum bid is 2000 Shares with ₹1,08,000 amount while the maximum bid is 2000 shares with ₹1,08,000. |
| What is the Polysil Irrigation Systems IPO Allotment Date? Polysil Irrigation Systems IPO allotment date is 14 February 2024. |
