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Solve Plastic Products IPO
Price Band
₹
Issue Size
₹11.85 Cr
Lot Size
1,200 shares
Min Investment
₹109,200
GMP
+₹7.0 (7.69%)
Issue Price
₹91.0
Subject to Sauda
₹6400
Paid only if allotted
Solve Plastic Products IPO AI Summary
- Solve Plastic Products IPO is listed on NSE SME in the Plastic Products - Industrial sector.
- Subscription window: 13 Aug–16 Aug 2024, listing on 21 Aug 2024.
- Current GMP is +₹7.0 (7.69%) — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Solve Plastic Products IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 16 Aug 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
Solve Plastic Products IPO Grey Market Premium (GMP) Today
GMP
+₹7.0
GMP %
+7.69%
Est. Listing
₹98.0
Updated: 25 Jul 2026 14:04
About the Company
Founded in 1994, Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized polyvinyl chloride) and Rigid PVC electrical conduits and markets them under the brand name "BALCOPIPES" The company has 3 manufacturing units in Kerala and 1 well-equipped manufacturing unit in Tamil Nadu. The products manufactured are approved by various authorities like Bureau of Indian Standards (BIS) and also by organizations like the Central Public Works Department (CPWD) of Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department (PWD) of Kerala and Tamil Nadu and Tamil Nadu Housing Board. The company distributes its products mainly in the state of Kerala. The company's product portfolio includes: Solvent cement Water tank Garden hoses Rigid PVC electrical cables PVC pipes The company has a total of 165 employees (excluding the managing directors).
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 22.12 | 18.74 | 18.23 |
| Total Income | 47.16 | 62.25 | 55.78 |
| Profit After Tax | 1.42 | 1.20 | -0.41 |
| NET Worth | 4.39 | 1.93 | 0.72 |
| Reserves and Surplus | 1.32 | -1.11 | -2.31 |
| Total Borrowing | 11.36 | 10.53 | 10.30 |
Key Ratios
EPS
₹3.92
NAV
₹14.31
RoNW
32.47%
P/B Value
6.36
P/E Ratio
23.2
Market Cap
₹39.75 Cr
PAT Margin
9.13%
Debt/Equity
2.83
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Aik Pipes And Polymers Ltd | 34.46 | 15.56% | 24.12 | 6.69 |
| Dutron Polymers Ltd. | 44.05 | 9.26% | 42.97 | 4.08 |
| Rungta Irrigation Ltd | 43.6 | 6.5% | 22.34 | 4.47 |
| Captain Pipes Ltd | 1.73 | 15.61% | 67.81 | 0.27 |
| Solve Plastic Products Limited This IPO | 14.31 | 32.47% | 19.52 | 4.66 |
Promoters
Sudheer Kumar Balakrishnan Nair, Susil Balakrishnan Nair and Balakrishnan Nair
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 Funding Capital Expenditure towards purchase of additional plant and machinery 5.53 2 Working Capital Requirements 3.83 3 Issue Related Expenses 1.62 4 General Corporate Expenses 0.88
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹55.78 Cr in the year ending 31 Mar 2022, increasing to ₹62.25 Cr by 31 Mar 2023, before declining to ₹47.16 Cr by 31 Mar 2024. This decline in the most recent period is notable, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was a loss of ₹0.41 Cr in the year ending 31 Mar 2022, improving to a profit of ₹1.20 Cr by 31 Mar 2023, and further increasing to ₹1.42 Cr by 31 Mar 2024. This shows a positive trend in profitability over the periods.
Valuation
Priced at roughly 19.52 times trailing earnings, versus peers trading at a P/E range of 22.34 to 67.81.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO. It reflects the demand and supply dynamics in the unofficial market before the actual listing. A positive GMP indicates that investors expect the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk appetite. It's important to consider the company's financial health and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, established companies with a proven track record may want to avoid this IPO, especially if they are risk-averse or seek immediate returns.
IPO Timeline, Explained
The IPO opens for subscription on 13 August 2024 and closes on 16 August 2024. Allotment of shares will be done on 19 August 2024, with the listing expected on 21 August 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market sentiment, demand for the stock, and overall market conditions. Investors should be aware that while some IPOs may see significant gains on the first day, others may not perform as expected.
This evaluation is generated from Solve Plastic Products'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 Solve Plastic Products IPO GMP today?
Solve Plastic Products IPO GMP today is +₹7.0 (7.69%). GMP is an unofficial grey-market indicator and can change daily.
When does Solve Plastic Products IPO open and close?
Solve Plastic Products IPO opens on 13 August 2024 and closes on 16 August 2024.
When does Solve Plastic Products IPO list on the stock exchange?
Solve Plastic Products IPO listed on 21 August 2024 at ₹98.0.
What is the lot size for Solve Plastic Products IPO?
The lot size for Solve Plastic Products IPO is 1200 shares, requiring a minimum investment of ₹109,200.
What is the lot size for this IPO?
The lot size for Solve Plastic Products IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required is ₹109,200.
What is the issue price of the IPO?
The issue price of the IPO is ₹91.0 per share.
When does the IPO open and close?
The IPO opens on 13 August 2024 and closes on 16 August 2024.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected listing price of the IPO based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
13 Aug 2024
Close
16 Aug 2024
Allotment
19 Aug 2024
Listing
21 Aug 2024
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