GM Polyplast IPO

GM Polyplast IPO(SME) details and analysis

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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 nameG M Polyplast Limited
SectorPlastic Products
IndustyPlastic Products

Dates to remember

IPO Open30 September 2020
IPO Close06 October 2020
Basis of Allotment09 October 2020
Refunds date13 October 2020
Credit to Demat Account13 October 2020
 Listing Date14 October 2020

IPO details

Issue typeFixed price IPO
IPO issue size₹8.09 crores
Number of shares offered to the public508800 shares
Face value₹10 per equity share
Offer price₹159 per equity share
Retail portion50%
Lot size800 Nos
Minimum application1 lot – 800 shares
Minimum application amount₹127,200
Listing ExchangeBSE (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)
Revenue 55.568.363.4
Expenses 54.266.460.3
Net income

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 Holding100%
Post Issue Share Holding73.65%

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  

GM Polyplast Contact Details

GM Polyplast Limited
A-66, New Empire Industrial Estate, Kondivita Road, Andheri East,
Mumbai- 400059
Phone: +91 022 2820 9552

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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