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Silkflex Polymers IPO
Price Band
₹
Issue Size
₹18.11 Cr
Lot Size
2,000 shares
Min Investment
₹104,000
GMP
+₹15.0 (28.85%)
Issue Price
₹52.0
Subject to Sauda
₹22800
Paid only if allotted
Silkflex Polymers IPO AI Summary
- Silkflex Polymers IPO is listed on NSE SME in the Specialty Chemicals sector.
- Subscription window: 07 May–10 May 2024, listing on 15 May 2024.
- Current GMP is +₹15.0 (28.85%) — unofficial and can change daily.
Silkflex Polymers India Limited is set to list on May 15, 2024, with an issue price of ₹52.0. The company has shown a significant improvement in profitability, with a profit after tax of ₹2.57 Cr as of December 31, 2023. The IPO aims to raise funds for land acquisition, capital expenditure, working capital, and general corporate purposes.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Silkflex Polymers IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 10 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Silkflex Polymers IPO Grey Market Premium (GMP) Today
GMP
+₹15.0
GMP %
+28.85%
Est. Listing
₹67.0
Updated: 25 Jul 2026 14:06
About the Company
Incorporated on May 13, 2016, Silkflex Polymers India Limited trades textile printing inks and water-based wood coating polymers produced by Silkflex Polymers SDN BHD, a Malaysian brand. The company offers 108 textile printing ink products and 51 wood coating polymer products. As of May 1, 2024, the registered office of the Company is situated in the state of West Bengal. Additionally, the company has 5 branch offices across India, with one in each of the following states: Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab. Silkflex Polymers India Limited sells products from Silkflex Polymers Sdn. Bhd. Malaysia, the leading manufacturer of garment printing ink in Malaysia. With a state-of-the-art thermal reactor, they have a capacity of 1000 MT per month. The company sells its products in five Indian states - West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat. As of December 31, 2023, the company has 28 permanent employees at its offices.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 34.46 | 23.75 | 19.69 | 13.14 |
| Total Income | 33.82 | 34.42 | 28.05 | 20.96 |
| Profit After Tax | 2.57 | 0.79 | 0.69 | 0.45 |
| NET Worth | 10.73 | 8.17 | 7.38 | 5.14 |
| Reserves and Surplus | 2.61 | 5.67 | 4.88 | 3.08 |
| Total Borrowing | 17.16 | 12.08 | 9.95 | 6.13 |
Key Ratios
EPS
₹0.97
NAV
₹13.21
ROE
23.91%
ROCE
41.04%
RoNW
23.91%
P/B Value
3.94
P/E Ratio
53.76
Market Cap
₹60.36 Cr
PAT Margin
7.67%
Debt/Equity
1.60
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Berger Paints India Ltd. | 42.86 | 20.67% | 57.44 | 8.86 |
| Heubach Colorants India Limited | 187.34 | 4.44% | 48.88 | 8.31 |
| Basf India Ltd. | 623.97 | 14.92% | 40.12 | 93.1 |
| Silkflex Polymers (India) Limited This IPO | 10.05 | 9.62% | 53.76 | 0.97 |
Promoters
Tushar Lalit Kumar Sanghavi, Urmi Raj Mehta, Tushar Lalitkumar Sanghavi (HUF) and Lalitbhai H Sanghvi (HUF)
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Acquisition of land 5.53 2 Funding of capital expenditure requirements of the Company towards purchase of Plant and Machineries 2.08 3 Funding Working Capital Requirements of the Company 4.68 4 General corporate purposes 4.11
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹34.42 Cr in the year ending March 31, 2023, which slightly decreased to ₹33.82 Cr by December 31, 2023. This decline is notable as the latter figure represents a 9-month period, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax increased from ₹0.79 Cr in the year ending March 31, 2023, to ₹2.57 Cr by December 31, 2023. This significant rise indicates a positive trend in profitability over the most recent period.
Valuation
Priced at a P/E ratio of 53.76 at the issue price, Silkflex Polymers is positioned against peers trading at P/E ratios ranging from 40.12 to 57.44.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which shares are expected to trade in the grey market before their official listing. A positive GMP suggests that demand for the shares is strong, while a negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, competitive positioning, and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, particularly given the inherent uncertainties associated with investing in smaller companies in the specialty chemicals sector.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While a positive GMP may suggest potential gains, market conditions and investor sentiment can lead to fluctuations in share prices post-listing.
This evaluation is generated from Silkflex Polymers's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Silkflex Polymers IPO GMP today?
Silkflex Polymers IPO GMP today is +₹15.0 (28.85%). GMP is an unofficial grey-market indicator and can change daily.
When does Silkflex Polymers IPO open and close?
Silkflex Polymers IPO opens on 07 May 2024 and closes on 10 May 2024.
When does Silkflex Polymers IPO list on the stock exchange?
Silkflex Polymers IPO listed on 15 May 2024 at ₹67.0.
What is the lot size for Silkflex Polymers IPO?
The lot size for Silkflex Polymers IPO is 2000 shares, requiring a minimum investment of ₹104,000.
What is the issue price of Silkflex Polymers?
The issue price is ₹52.0.
What is the minimum investment required?
The minimum investment required is ₹104,000.
What is the lot size for this IPO?
The lot size is 2000 shares.
When is the listing date for Silkflex Polymers?
The listing date is May 15, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected price of shares in the grey market before official listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 May 2024
Close
10 May 2024
Allotment
13 May 2024
Listing
15 May 2024
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