GM Polyplast IPO is joining the IPO rally. It will open for subscription on 30th September 2020. The company aims to raise ₹ 8.09 crores through this fixed price SME IPO.
GM Polyplast Limited
GM Polyplast is engaged in the business of manufacturing of High Impact Polystyrene (HIPS), Acrylonitrile Butadiene Styrene (ABS) and Polyethylene Terephthalate (PET) sheets. In addition to sheets, the company also manufactures the raw material used to manufacture the sheets called as granules. The company has been steadily diversifying as well as adding new products to its portfolio, besides adding additional infrastructure for increasing its manufacturing capability for its existing products.
Objective of the Issue
- To meet the working capital requirements of the company.
- To meet general corporate purposes.
Basic details about The company
| Full name | G M Polyplast Limited |
| Sector | Plastic Products |
| Industy | Plastic Products |
| Company Website | www.gmpolyplast.com |
Dates to remember
| IPO Open | 30 September 2020 |
| IPO Close | 06 October 2020 |
| Basis of Allotment | 09 October 2020 |
| Refunds date | 13 October 2020 |
| Credit to Demat Account | 13 October 2020 |
| Listing Date | 14 October 2020 |
IPO details
| Issue type | Fixed price IPO |
| IPO issue size | ₹8.09 crores |
| Number of shares offered to the public | 508800 shares |
| Face value | ₹10 per equity share |
| Offer price | ₹159 per equity share |
| Retail portion | 50% |
| Lot size | 800 Nos |
| Minimum application | 1 lot – 800 shares |
| Minimum application amount | ₹127,200 |
| Listing Exchange | BSE (BSE SME PLATFORM) |
More details about the company
Incorporated in 2003, GM Polyplast is a Mumbai-based manufacturer of high-grade sheets such as PVC sheets, HIPS sheets, HDPE sheets, A.B.S. sheets, and others. The company not just manufactures various types of sheets but also manufactures raw material used to prepare the sheets called granules.
The company also manufactures Amorphous Polyethylene Terephthalate (A-PET) Sheet, Recycled Polyethylene Terephthalate (R-PET) Sheet, HDPE (High Density Polyethylene) Sheets / Rolls, PP (Polypoplyne) Sheets / Rolls, Electrostatic discharge materials (ESD materials). GM Polyplast’s manufacturing plant is in Dadra & Nagar Haveli which is used as the base for domestic and export markets.
The company has a modernized manufacturing unit in Dadra & Nagar Haveli embedded with advanced equipment and technology to deliver high-quality sheets to clients. In the domestic market, it supplies products across states such as Maharashtra, Gujrat, West Bengal, Tamil Nadu, Puducherry, UP, MP, Delhi, Telangana, Karnataka, Goa, Chhattisgarh, and many others. It also exports its products in the overseas market such as the UAE, Israel, Hong Kong, and Jordan.
Financial Summary
| GM Polyplast’s financial performance (in INR crore) | ||||
| FY2018 | FY2019 | FY2020 | ||
| Revenue | 55.5 | 68.3 | 63.4 | |
| Expenses | 54.2 | 66.4 | 60.3 | |
| Net income | 0.9 | 1.4 | 2.3 |
Valuation of GM Polyplast IPO (FY2020)
| Earnings Per Share (EPS) | ₹ 14.49 |
| Price/Earnings (PE ratio) | 10.97 |
| Return on Net Worth (RONW) | 17.56% |
| Net Asset Value (NAV) | ₹ 49.64 per share |
Company Promoters
- Mr. Dinesh Balbirsingh Sharma
- Ms. Sarita Dinesh Sharma
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.65% |
Lead managers
Gretex corporate services Pvt Ltd
Registrar of GM Polyplast IPO
Bigshare Services Private Limited
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis Makwana Road Marol,
Andheri (East), Mumbai – 400059
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
GM Polyplast Contact Details
GM Polyplast Limited
A-66, New Empire Industrial Estate, Kondivita Road, Andheri East,
Mumbai- 400059
Phone: +91 022 2820 9552
Email: info@gmpolyplast.com
Website: www.gmpolyplast.com
GM Polyplast IPO Allotment Status
GM Polyplast IPO allotment status will be available on Bigshare Services’ website.
Click on this link to get allotment status
Final thoughts
GM Polyplast IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post gave you enough details to make a fundamental study of the company. learn well and make a wise decision.
happy investing
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