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Silkflex Polymers (India) Limited IPO : Key Updates

Silkflex Polymers (India) Limited IPO is set to launch on 7 May, 2024. The company was incorporated in 2016. It trades in textile printing inks and water-based wood coating polymers produced by Silkflex Polymers SDN BHD, a Malaysian brand (“Silkflex Malaysia”). Silkflex Malaysia, are one of the garment printing ink manufacturers of Malaysia. Silkflex Malaysia manufactures its products through its manufacturing unit located in Malaysia and the same products are then supplied around the globe through its authorized agents.

The list of countries where Silkflex Malaysia supplies the products includes India, Thailand, Turkey, Russia, SriLanka, Bangladesh and Indonesia. The company offers 108 textile printing ink products and 51 wood coating polymer products. As of May 1, 2024, the registered office of the Company is in West Bengal and 5 other branch offices in Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab.With a state-of-the-art thermal reactor, they have a capacity of 1000 MT per month. The company sells its products in five Indian states – West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat. As of December 31, 2023, the company has 28 permanent employees at its offices.

Silkflex Polymers (India) Limited : IPO DETAILS

Silkflex Polymers (India) Limited IPO is set to launch on 7 May, 2024. The subscription timeline extends till 10 May, 2024. The size for the IPO is Rs. 18.11 Crore. The entire issue is a fresh issue of 34.82 Lakh shares amounting to Rs. 18.11 Crore. The lot size is 2000 shares and the price is Rs. 52 per share. The company is going to get listed at NSE SME Board. The face value per share is Rs.10 and this is a Fixed Price Issue. The registrar for the company is Bigshare Services Private Limited.

Tabular Description of Silkflex Polymers (India) Limited IPO

IPO OPENING DATE	7 May, 2024
CLOSING DATE FOR IPO	10 May, 2024
ISSUE TYPE	Fixed Price Issue
Face Value per share	Rs. 10 per share
IPO price band	Rs. 52 per share
LOT SIZE	2000 shares
MINIMUM ORDER QUANTITY	2000 shares
ISSUE SIZE	Rs. 18.11 Crore
OFFER FOR SALE	NIL
FRESH ISSUE	Rs. 18.11 Crore
LISTING AT	NSE SME Board
LISTING DATE	15 May, 2024

Silkflex Polymers (India) Limited IPO: IMPORTANT DATES

IPO OPENING DATE	7 May, 2024
CLOSING DATE FOR IPO	10 May, 2024
IPO ALLOTMENT DATE	13 May, 2024
REFUNDS	14 May, 2024
DEMAT A/C CREDITED ON	14 May, 2024
IPO LISTING DATE	15 May, 2024

Silkflex Polymers (India) Limited IPO begins for subscription from 7 May, 2024. The IPO subscription would continue till 10 May, 2024. The allotment status for the shareholders who applied would come on 13 May, 2024. The refunds for the ones who did not get allotment would be initiated on 14 May, 2024. The DEMAT accounts of shareholders would be credited on 14 May, 2024. The listing of the company would be completed on 15 May, 2024.

Silkflex Polymers (India) Limited IPO: Lead Managers

The lead managers are :

Shreni Shares Limited

The minimum and maximum lot size for retail investors is 2000 shares, amounting to Rs. 104000. The minimum lot size for HNI is 4000 shares, amounting to Rs. 208000.

	Shares	Amount
Retail (Minimum)	2000 shares	Rs. 104000
Retail (Maximum)	2000 shares	Rs. 104000
HNI (Minimum)	4000 shares	Rs. 208000

OBJECTIVES FOR THE IPO

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

COMPANY FINANCIALS

Particularly (in Rs. Lakhs)	2020-21	2021-22	2022-23	Dec-2023
Asset	1314.06	1968.81	2374.73	3446.35
Revenue	2096.07	2804.52	3442.25	3381.55
PAT	45.35	68.59	78.59	256.66

Silkflex Polymers (India) Limited had an asset base of Rs. 1314 Lakhs in 2021 which increased to Rs. 2374 Lakhs in 2023.The asset base of the firm jumped to Rs. 3446.35 Lakhs as on Dec-2023. The revenue for the company was Rs. 2096.07 Lakhs in 2021, which increased to Rs. 3442.25 Lakhs in 2023. The revenue for 9 months ending December 2023 was Rs. 3381.55 Lakhs. The profit of the company increased from Rs. 45.35 Lakhs in 2021 to Rs. 78.59 Lakhs in 2023. The profit generated for the 9 months ending December 2023 was Rs. 256.66 Lakhs.

PROS

The company is engaged in the business of trading in Malaysian textile printing inks and water based wood coating polymer products in India.
It posted average performance till FY23 and marked bumper profits for 9M of FY23
Silkflex Malaysia manufactures its products through its manufacturing unit located in Malaysia and the same products are then supplied around the globe through its authorized agents.

Silkflex Polymers (India) Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
Click the Silkflex Polymers (India) Limited IPO button and press the BID button.
Entering the details asked for like UPI ID, Quantity and price.
Submit the application form for the IPO.
Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.

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