Silkflex Polymers (india) Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
Back arrow

Silkflex

CMP

53.40

+0.90 (1.71%)

  • DRHP
₹52

Offer Price

₹ 18.11 Cr

Issue Size

₹ 1,04,000

Min Investment

2,000

Lot size

Time Line

  • 07
    May 2024
    Open
  • 10
    May 2024
    Close
  • 13
    May 2024
    Finalisation of Basis of Allotment
  • 14
    May 2024
    Initiation of Refunds
  • 14
    May 2024
    Transfer of Shares to Demat Account
  • 15
    May 2024
    Listing Date

Objects of the Offer

  • Focus on dealing in quality standard products.

  • Expanding its clientele network by geographic expansion.

  • Reduction of operational costs and achieving functional efficiency.

  • Focus on cordial relationship.

  • Focus on increase in volume of sales.

Products & Services

  • The Company is engaged in the trading of the textile printing inks and water-based wood coating polymers products of a Malaysian based brand- "Silkflex" produced by Silkflex Polymers SDN BHD.

Strengths

  • ZDHC certified.

  • Wide range of its products.

  • Location Advantage.

  • Well established relationship with clients.

  • Leveraging the experience of its Promoter and Directors.

Risks

  • There are certain criminal litigations against its Promoter and Directors. In case these cases are decided against its Promoter and the other accused, it will cause loss of reputation of the company and that may affect its business, operations and financial conditions.

  • Its business operations relies significantly on the continuous and timely supply of products from Silkflex Polymers Sdn. Bhd (`Silkflex Malaysia`) from whom the company purchase 74.86%, 96.04%, 97.81% and 96.48% of the total purchases for the period ended December 31, 2023 and for the financial years ended March 31, 2023, 2022 and 2021, respectively. Any discontinuation of same will adversely impact its overall performance and profitability.

  • Termination or non-renewal of the Silkflex Agreements by Silkflex Polymers Sdn. Bhd. or any material modification to the existing terms under such agreements adverse to its interest will materially and adversely affect the company`s ability to continue its business and operations and its future financial performance.

  • The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.

  • The company depends on the success of its relationships with its customers. The company`s top ten customers contribute majority of its revenues from operations. If one or more of such customers choose not to source their requirements from it, its business, financial condition and results of operations may be adversely affected.

Company Promoters

Promoters Holding

Issue For IPO
29.95%
Pre Holding

99.84%

Post Holding

69.89%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 27.82 (34.10%) 34.21 (23.00%) 9.62 (-)
Gross Profit 27.82 (34.10%) 34.21 (23.00%) 9.62 (-)
Net Income 27.82 (34.10%) 34.21 (23.00%) 9.62 (-)
Assets 27.82 (34.10%) 34.21 (23.00%) 9.62 (-)
Liabilities 27.82 (34.10%) 34.21 (23.00%) 9.62 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Silkflex Polymers (India) Ltd 34.21 0.79 20.40 12.23 9.62 0.00 32.66 5.43 0.59
BASF India Ltd 13,644.77 402.89 6,564.63 6,564.63 14.91 93.10 623.97 6.13 0.00
Heubach Colorants India Ltd 766.42 19.18 661.73 661.73 4.43 8.31 187.34 2.89 0.00
Berger Paints India Ltd 10,567.84 859.42 7,967.17 7,967.17 19.12 8.86 46.35 10.78 0.17

Book Running Managers

  • Shreni Shares Ltd

Registrar & Transfer Agent

Bigshare Services Pvt Ltd

Office No 56-2,
Pinnacle Busine.Park,
Mahakali Caves Road - Mumbai - 400093
Phone : 91-22-62638200 Fax: 91-22-63638299

Company Contact Information

Daga Complex Sulati-,
Jaladhulagori Sankrail,
Howrah - 711302
Phone : +91 96749 12615 Email : investors@silkflexindia.in www.silkflexindia.in

Offer Related Information

Initial public offering of 34,82,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Silkflex Polymers (India) Limited ("SPIL" or "The Company" or "The Issuer") for cash at a price of Rs. 52/- per equity share (including a premium of Rs. 42 per equity share) ("Issue Price") aggregating to Rs. 18.11 crores ("The Issue") of which 1,78,000 equity shares aggregating to Rs. 0.93 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The... More

Take your research to the next level.
Login now to unlock Exclusive Features!

Take your research to the next level.
Login now to unlock Exclusive Features!

Download Our App On: