Polysil Irrigation Systems IPO: Here’s price band, date, GMP and other details
Polysil Irrigation Systems is all set to launch its initial public offerings (IPO) this week. The IPO will open for subscription on February 8, 2024 and closes on February 13, 2024.
The price band for Polysil Irrigation Systems IPO has been fixed at ₹54 per share with a face value of ₹10. The small and medium enterprise (SME) IPO is a fixed price issue of ₹17.44 crores.
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The issue is a combination of fresh issue of 14.44 lakh shares aggregating to ₹7.80 crores and offer for sale of 17.85 lakh shares aggregating to ₹9.64 crores.
Investors can bid for a minimum of 2000 shares and in multiples thereof. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Polysil Irrigation Systems IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
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Around 50 percent of the issue has been reserved for retail investors and other 50 percent has been reserved for other investors. Bharatkumar Patel and Prafulbhai Radadia are the promoters of the company.
The company proposes to utilize the net proceeds from the offer towards funding its working capital requirements and general corporate purposes.
The company 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.
Polysil Irrigation Systems Limited’s revenue increased by 16.6% and profit after tax (PAT) rose by 236.39% between the financial year ending with March 31, 2023 and March 31, 2022.
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Polysil Irrigation Systems IPO GMP today
The shares of Polysil Irrigation Systems IPO are currently unavailable in the grey market.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Published: 05 Feb 2024, 08:40 PM IST
