Solve Plastic Products IPO opens on Aug 13, 2024

Solve Plastic Products IPO opens on Aug 13, 2024

Solve Plastic Products Limited, a manufacturer of uPVC pipes and rigid PVC electrical conduits, is set to launch its Initial Public Offering (IPO) on August 13, 2024. The IPO, a fixed price issue, aims to raise Rs 11.85 crores through the issuance of 13.02 lakh equity shares.

IPO Details

Issue Open Date: August 13, 2024
Issue Close Date: August 16, 2024  
Issue Size: Rs 11.85 crores  
Issue Price: Rs 91 per share  
Minimum Order Quantity: 1200 shares  
Listing: NSE SME

The company plans to utilize the IPO proceeds for expanding its manufacturing capacity, working capital requirements, and general corporate purposes.  

About Solve Plastic Products

Solve Plastic Products is a prominent player in the uPVC pipes and fittings market. With a strong foothold in Kerala, Karnataka, and Tamil Nadu, the company has established a robust distribution network. The company’s products, marketed under the brand name ‘BALCOPIPES’, have gained significant traction in the market.  

Important Dates

IPO Open Date: Tuesday, August 13, 2024
IPO Close Date: Friday, August 16, 2024
Basis of Allotment: Monday, August 19, 2024
Initiation of Refunds: Tuesday, August 20, 2024
Credit of Shares to Demat: Tuesday, August 20, 2024
Listing Date: Wednesday, August 21, 2024

Refer Red Herring Prospectus for more details

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investors are advised to consult with a financial advisor before making any investment decisions.