Solve Plastic Products is engaged in manufacturing of comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits. The Company is committed towards constant innovations in drinking water piping solutions and electrical conduit fittings technologies to meet the constantly increasing demands.

Solve Plastic Products, a Fixed Price Issue amounting to ₹11.84 crores, consisting entirely a Fresh Issue of 13.02 Lakh Shares. The subscription period for the Solve Plastic Products IPO opens on August 13, 2024, and closes on August 16, 2024. The allotment is expected to be finalized on or about Monday, August 19, 2024, and the shares will be listed on the NSE SME with a tentative listing date set on or about Wednesday, August 21, 2024.

The Share price of Solve Plastic Products IPO is set at ₹91 equity per share, with a minimum lot size of 1,200 shares. Retail investors are required to invest a minimum of ₹109,200, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (2,400 shares), amounting to ₹218,400.

FINSHORE MANAGEMENT SERVICES LIMITED is the book-running lead manager, INTEGRATED REGISTRY MANAGEMENT SERVICES (P) LIMITED is the registrar for the Issue. M/s. Black Fox Financial Private Limited will act as the Market Maker for the Solve Plastic Products IPO.

Solve Plastic Products Limited IPO GMP Today
The Grey Market Premium of Solve Plastic Products Limited IPO is expected in the range of ₹5 to ₹10 based on the financial performance and Subscription status of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Solve Plastic Products Limited IPO Live Subscription Status Today
As of 09:50 PM on 14 August 2024, the Solve Plastic Products Limited IPO live subscription status shows that the IPO subscribed 7.08 times on on the first day of subscription period. Check the Solve Plastic Products Limited IPO Live Subscription Status Today at NSE.

Solve Plastic Products Limited IPO Allotment Status
Solve Plastic Products IPO allotment date is 19 August, 2024, Monday. Solve Plastic Products IPO Allotment will be out on 19th August 2024 and will be live on Registrar Website from the allotment date. Check Solve Plastic Products Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Solve Plastic Products Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Solve Plastic Products Limited IPO
Solve Plastic Products Issue Proceeds from the Fresh Issue will be utilized towards the following objects : 
A. ₹552.64 Lakhs is required for Funding Capital Expenditure towards purchase of additional plant and machinery 
B. ₹382.55 Lakhs is required for To meet the Working Capital Requirements 
C. ₹161.63 Lakhs is required for To meet the Issue Expenses 
D. ₹88.00 Lakhs is required for General Corporate Purposes

Refer to Solve Plastic Products Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live GMP today, Live Subscription Status Today, Share Price, Financial Information, latest IPO news, Upcoming IPO News before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Brace Port Logistics Limited, Forcas Studio Limited, Interarch Building Products Limited.

The current active IPO is Positron Energy Limited IPO, Saraswati Saree Depot Limited, Sunlite Recycling Industries, Broach Lifecare (Maple) Hospital Limited, Solve Plastic Products Limited

The Recently Listed IPOs which is available for trading in stock Market are RNFI Services Limited, Sanstar Limited, Sahaj Solar Limited, Macobs Technologies Limited IPO, Kataria Industries Limited IPO, Sati Poly Plast Limited, Aelea Commodities Limited, Prizor Viztech Limited, Three M Paper Boards Limited, BANSAL WIRE INDUSTRIES, EMCURE PHARMACEUTICALS, NEPHRO CARE INDIA, Diensten Tech Limited, Vraj Iron and Steel Limited, Divine Power Energy Limited.

Read more

About Solve Plastic Products Limited

Solve Plastic Products established in 1994, is engaged in manufacturing of comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits. The Company is committed towards constant innovations in drinking water piping solutions and electrical conduit fittings technologies to meet the constantly increasing demands. The company has 3 (three) well-equipped manufacturing facility at Kerala and 1 (one) well-equipped manufacturing facility at Tamil Nadu. It has the latest technology and equipment that helps in the production of high-quality uPVC pipes and Electrical Conduits of different sizes. Their manufacturing facilities is fully automated. The company also has a well-trained team of engineers, technicians and operators that helps in the production and quality control of the products. 

Considering the growing demand of Rigid PVC Electrical Conduits in the regional markets, the company is proposing to enhance the plant capacity of Electrical Conduits from 2760 MT (27,60,000 Kgs) Per Annum to 4860 MT (48,60,000 Kgs) Per Annum situated at their existing facility situated at Unit – 4 i.e. 3/12/82 & 83, Karkuddy, Therkkumedu, Kesavapuram, Shencottah, Tirunelveli – 627813, Tamil Nadu. Also seeing the demand of HDPE Pipes, the company is proposing to augment its product portfolio by implementing manufacturing facility of HDPE Pipes of 2160 MT (21,60,000 Kgs) per Annum at our existing manufacturing facility situated at Unit – 2 i.e. TP/XIII/707&708, Papannoor Road, Edamon, Kollam – 691307, Kerala, India. The overall Project cost for the proposed expansion project has been estimated at ₹ 552.64 lakhs.

PLASTIC INDUSTRY OVERVIEW
The Indian plastic industry is one of the leading sectors in the country’s economy. The history of the plastic industry in India dates back to 1957 with the production of polystyrene. Since then, the industry has made substantial progress and has grown rapidly. The industry is present across the country and has more than 2,500 exporters. It employs more than 4 million people in the country and constitutes 30,000 processing units; among these, 85-90% belong to small and medium enterprises. India manufactures various products such as plastics and linoleum, houseware products, cordage, fishnets, floor coverings, medical items, packaging items, plastic films, pipes, raw materials, etc. The country majorly exports plastic raw materials, films, sheets, woven sacks, fabrics, and tarpaulin. The Government of India intends to take the plastic industry from a current level of Rs. 3 lakh crore (US$ 37.8 billion) of economic activity to Rs. 10 lakh crore (US$ 126 billion) in 4-5 years.

10 Plastic Parks have been approved in the country by The Department of Chemicals and Petrochemicals. Among these, six plastic parks have received final approval from the following states – Madhya Pradesh (two parks), Assam (one park), Tamil Nadu (one park), Odisha (one park), and Jharkhand (one park). These parks are intended to boost employment and attain environmentally sustainable growth.

In FY24 (Until February 2024), India’s plastic exports stood at US$ 10.43 billion. During this period, the exports of human hair & related products, medical items, plastic pipes and FRP & composites grew by 12.7%, 8.9%, and 13.8%, respectively, over the same period last year. In February 2024, the exports of Floorcoverings, leathercloth & Laminates witnessed a growth of 19.7%.

The cumulative exports of plastics and related materials during 2022-23 were valued at US$ 11.96 billion. This was a 10.4% decrease from the 2021-22 exports valued at US$ 13.35 billion. Plastic raw materials were the largest exported category and constituted 27.76% of the total exports in 2022-23; it recorded a growth of 21.5% over the previous year. Plastic films and sheets were the second largest category, comprising 15.13% of the total exports, but declined by 10.6% over the previous year. 

In February 2024, the exports of plastics and linoleum from India were valued at US$ 996.9 million. During the same period, medical items of plastics; FRP & composites; packaging items; cordage fishnets & monofilaments and floorcoverings, leathercloth, & laminates recorded strong growth. The cumulative exports for April-February 2024 declined by 4.4% year-on-year (YoY) to US$ 10.43 billion.

SOLVE PLASTIC PRODUCTS LIMITED STRENGTHS
1. Customer satisfaction and revenues from long standing customer relationships
2. Experienced Promoter and Management Expertise
3. Scalable Business Model
4. Cost effective production and timely fulfilment of orders
5. Existing relationship with suppliers
6. Quality Assurance and Standards

SOLVE PLASTIC PRODUCTS LIMITED STRATEGIES
1. Expand their Current Business Relationships
2. Improving operational efficiencies
3. Optimal Utilization of Resources
4. Improve capacity utilization
5. Enhancing existing production and product quality
6. To build-up a professional organization

SOLVE PLASTIC PRODUCTS LIMITED RISK FACTORS & CONCERNS
1. If they are unable to successfully implement their proposed expansion plans; their results of operations and financial condition could be adversely affected.
2. The Company is yet to place orders for the machinery for the expansion of the Manufacturing Facility.
3. The availability of look-alikes, counterfeit products, primarily in their domestic markets, manufactured by other companies and passed off as their products, could adversely affect their goodwill and results of operations.
4. Their revenue is dependent on single business segment i.e. PVC Pipe & Electrical Conduit.
5. Demand for their products is closely tied to the levels of residential and non-residential construction activity in India.
6. The Company is dependent on its Authorized Dealers/Distributors.