VMPL
Mumbai (Maharashtra) [India], July 9: Sati Poly Plast Limited is an ISO Certified Company engaged in the manufacturing of flexible packaging material which is multifunctional and caters to the packaging requirements of various industries. The company provides end-to-end solution for various flexible packaging needs. Sati Poly Plast Limited has filed the Red Herring Prospectus with NSE Emerge for raising funds through public offer. The company will issue fresh equity shares of up to 13,35,000. The IPO is open from 12 -16 July, 2024.
SATI POLY PLAST Limited IPO details:
Total Equity Shares- 13,35,000
Price Band - Rs.123-130
Face Value- Rs.10
Lot Size- 1000
QIB Quota - 6,32,000 Equity Shares
(Including Anchor Quota)
HNI Quota - 1,90,000 Equity Shares
Retail Quota- 4,43,000 Equity Shares
Market Maker Quota - 70,000 Equity Shares
IPO Size - Rs 17.36 Crs. (at upper price band)
Listing - NSE Emerge
The company plans to allocate the net proceeds from the issue to the following purposes:
1. Working Capital Requirement
2. General Corporate Purpose
ABOUT THE COMPANY:
Sati Poly Plast Limited was engaged in the business of trading of flexible packaging material till year 2015. From 2017, it commenced the manufacturing of flexible packaging material. The Company has set up two manufacturing units, of which "Plant 1" is situated at C44, Phase II, Gautam Budh Nagar - Noida-201305 with an installed capacity of 540 tons per month and "Plant 2" is situated at Plot No. 85 Udhyog Kendra, Noida -201306 with an installed capacity of 540 tonnes per month. The Company has been consistently expanding its business operations by increasing its installed capacity from 250 tonnes per month to 400 tonnes per month in 2018 and to 500 tonnes per month in 2019. Its range of packaging solutions span a variety of products in the food and beverage category, including salty snacks, snack bars, dry fruits, confectionery and dry foods. It utilises the advanced equipment available and continually invests to maintain the quality of product, process efficiency and the superior service that they are renowned for.
Their products are crafted out of an extensive range of industry-approved materials such as polyethylene terephthalate, biaxially-oriented polypropylene, polythene, cast polypropylene, foil, paper, bio-degradable films, etc. Since flexible packaging material predominantly consists of plastic as a major raw material, the company aims to manufacture its products sustainably by aiming towards "Reuse, Recycle and Upcycle". They stringently maintain the processes and accreditation required to ensure the quality needs of the customers they supply in the food and beverages industries.
SPPL has also installed an Automated Machine with Auto Gauge Control with minimum gauge variation specially for Edible Oil Industries. The company is currently working with Pidilite, Adani Wilmar, JVL and have also started vacuum bags for cashews. Flexible packaging refers to a type of packaging material that is made from non-rigid materials such as plastic, paper, or aluminium foil to create pouches, bags, and other pliable product containers.
SATI POLY PLAST LIMITED IPO OBJECTIVES:
The company plans to allocate the net proceeds from the issue to the following purposes:
1. To meet working capital requirements
2. General Corporate purpose
On the financial performance front, for the last three fiscals, the company has posted a total revenue / net profit/ - (loss) of Rs. 175.16 Cr. / Rs. 0.28 Cr. in F.Y. 2022, Rs. 190.92 cr. / Rs. - 3.08 Cr. in F.Y. 2023, and Rs. 179.35 cr. / Rs. 3.28 cr in F.Y. 2024. The company has posted PAT margins of F.Y. 2022: 0.16 %, F.Y. 2023: 1.62 %, F.Y. 2024: 1.83%.
The Book Running Lead Manager to the issue is Beeline Capital Advisors Private Limited and the Registrar to the issue is Link Intime India Private Limited.
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