Silkflex Polymers (India) Limited IPO: Check Issue Date, Price, Lot Size & Company Financial

Q: When will Silkflex Polymers (India) Ltd's IPO open for subscription?

The IPO subscription window will open on May 7, 2024 .

IPO Details

Bidding Dates

06 May '24 - 09 May '24

Minimum Investment

₹1,04,000 / 1 Lot ( 2,000 Shares )

Price Range

₹52

Maximum Investment

₹1,04,000 / 1 Lot ( 2,000 Shares )

Retail Discount

To be announced

Issue Size

₹18.11 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 6, 2024

IPO Closing Date

May 9, 2024

Basis of Allotment

May 12, 2024

Initiation of Refunds

May 13, 2024

Credit of Shares to Demat

May 14, 2024

IPO Listing Date

May 14, 2024

Cut-off time for UPI mandate confirmation

May 9, 2024

About Silkflex Polymers (India) Ltd

Silkflex Polymers India Limited, established on May 13, 2016, is engaged in the trade of textile printing inks and water-based wood coating polymers sourced from Silkflex Polymers SDN BHD, a notable Malaysian entity. The company offers a range of 108 textile printing ink products alongside 51 wood-coating polymer products.

As of May 1, 2024, its main office is located in West Bengal. In addition, it operates five regional branches across India, located in Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab.

The products distributed by Silkflex Polymers India Limited are manufactured by Silkflex Polymers Sdn. Bhd. of Malaysia, a leading producer in the Malaysian garment printing ink market. This manufacturer boasts a sophisticated thermal reactor with a production capacity of 1000 metric tons per month.

The firm markets its products primarily in five Indian states: West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat. By the end of December 31, 2023, Silkflex Polymers India Limited employed 28 permanent staff members across its various locations.

Industry Outlook:

As of 2019, India's chemicals industry was valued at $178 billion and is projected to rise to $304 billion by 2025, with a CAGR of 9.3%. This robust growth is fueled by increasing domestic and global demand.
By 2030, the chemical industry is set to contribute $383 billion to India's GDP, showcasing its pivotal role in the nation's economic expansion and global chemical market.
The demand for chemicals and petrochemicals in India is anticipated to nearly triple by 2040, reaching an estimated $1 trillion, driven by continuous industrial growth and advancements in chemical technologies.

Silkflex Polymers (India) Ltd IPO Details

Silkflex Polymers (India) Ltd IPO Dates

Silkflex Polymers (India) IPO is open from May 7, 2024, to May 10, 2024. The IPO will be listed on NSE Emerge.

Silkflex Polymers (India) Ltd IPO Price Band

Silkflex Polymers (India) is a fixed-price issue IPO. The price band is set at ₹52 per share.

Silkflex Polymers (India) Ltd IPO Lot Size

The lot size for Silkflex Polymers (India) Limited’s IPO is 2,000 shares with a minimum investment of ₹1,04,000.

Silkflex Polymers (India) Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Acquisition of land;
Funding of capital expenditure requirements of the Company towards the purchase of Plant and machinery;
Funding Working Capital Requirements of the Company; and
General corporate purposes.

Peer Details

The companies considered by Silkflex Polymers (India) as its peers include:

Basf India Ltd.
Heubach Colorants India Limited
Berger Paints India Ltd.

How to Check the Allotment Status of the Silkflex Polymers (India) Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the Individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Silkflex Polymers (India) Limited IPO

Registered office: Daga Complex, Sulati Jaladhulagori, Sankrail, Howrah-711302, West Bengal, India.
Phone: +91 9674912615
E-mail:investors@silkflexindia.in

IPO Financials

Particulars	9-Month period Ending on December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Revenue (in ₹ lakh)	3,381.55	3,442.25	2,804.52	2,096.07
Profit After Tax (PAT) (in ₹ lakh)	256.66	78.59	68.59	45.35
Cash & Cash Equivalents (in ₹ lakh)	6.06	3.78	3.95	5.36
Net Worth (in ₹ lakh)	1073.28	816.62	738.03	513.51
Debt to Equity Ratio(x)	1.60	1.48	1.35	1.19
Return on Equity (%)	23.91%	10.11%	10.96%	11.52%
Return on Capital Employed (RoCE) (%)	41.04%	26.93%	22.42%	27.49%
Diluted Earning Per Share (EPS)-in absolute ₹	0.97	0.97	0.85	0.68

Know before investing

Strengths

Silkflex products are ZDHC Confidence Level 3 certified, ensuring removal of harmful chemicals and eco-friendly production.
The company offers a broad range of textile printing inks and unique water-based wood coatings, meeting diverse industry needs.
The company operates in 5 key Indian states, significantly reducing transportation costs and ensuring consistent product availability.
Directed by Mr. Tushar Lalit Kumar Sanghavi and Mrs. Urmi Raj Mehta, bringing 18 and 3 years of industry experience respectively.

Risks

The promoters and directors of the company face criminal charges; adverse outcomes could damage reputation and disrupt operations.
The company relies on Silkflex Malaysia for 96.48% of purchases; termination could significantly impact supply and profitability.
The top 10 customers of the company account for 71.88% of revenue; loss of any could severely affect financial results.
If the company fail to meet stringent customer standards could lead to contract cancellations and damage business's reputation.