Sati Poly Plast IPO Subscribed 22.28 Times At The End Of Day 1
Sati Poly Plast Ltd. aims to raise Rs 17.36 crore through a fresh issue of 13.35 lakh shares.
Sati Poly Plast Ltd. aims to raise Rs 17.36 crore through a fresh issue of 13.35 lakh shares. The IPO has been subscribed 21.94 times as of 06:00 PM on Friday, as per Chittorgarh. The company specialises in manufacturing multifunctional flexible packaging materials catering to diverse industry packaging needs.
Check here the final subscription status of Sati Poly Plast IPO.
Sati Poly Plast IPO: Day 1 Subscription Status
The IPO has been subscribed 22.28 times as of 07:30 PM, Friday.
Anchor investors: 1 time
Non-institutional investors: 14.93 times
Retail investors: 38.15 times
Qualified Institutions: 0.00 times
IPO Details
The IPO subscription period for Sati Poly Plast is July-16, with allotment expected by July 18. The company plans to list its shares on the NSE SME platform, with trading anticipated to commence on July 22.
The IPO price band is set between Rs123 to Rs 130 per share. Retail investors need to apply for a minimum of 1,000 shares, requiring an investment of Rs 130,000. The minimum lot size for High Net-Worth Individuals is 2 lots (2000 shares), amounting to Rs 2,60,000.
Sati Poly Plast IPO has reserved 50% of the net issue for qualified institutional buyers (QIBs), 15% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 70,000 equity shares have been allotted to the market maker portion.
As per the company's Red Herring Prospectus, Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the Sati Poly Plast IPO, with Link Intime India Private Ltd appointed as the registrar. Spread X Securities will serve as the market maker for the IPO.
Company's Financials
In the fiscal year ending March 31, 2024, Sati Poly Plast Limited reported a slight decline of -6.05% in revenue, while Profit After Tax (PAT) registered a modest increase of 6.39% compared to the previous fiscal year. The company's resilient financial performance underscores its stability and strategic management amidst market fluctuations.
