Mumbai (Maharashtra, India) July 9, 2024
Sati Poly Plast Limited is an ISO certified company engaged in manufacturing flexible packaging material that is multifunctional and caters to the packaging requirements of various industries. The company offers comprehensive solutions for various flexible packaging needs. Sati Poly Plast Limited has filed the Red Herring Prospectus with NSE Emerge to raise funds through a public offer. The company will issue new shares for a maximum amount of 13,35,000. The IPO is open from July 12 to 16, 2024.
SATI POLY PLAST Limited IPO details:
Total equity shares: 13,35,000
Price band: Rs 123-130
Face value: 10 rupees
Lot size: 1000
QIB quota: 6,32,000 equity shares
(Including anchorage fee)
HNI share: 1,90,000 equity shares
Retail share: 4,43,000 equity shares
Market maker quota: 70,000 equity shares
IPO Size: ₹ 17.36 crs. (in the upper price band)
Listing – NSE Emerge
The company plans to allocate the net proceeds of 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 marketing flexible packaging material until the year 2015. From 2017, it started manufacturing flexible packaging material. The Company has established two manufacturing units, of which "Plant 1" is situated at C44, Phase II, Gautam Budh Nagar - Noida-201305 with an installed capacity of 540 tonnes 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 steadily 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 covers a variety of products in the food sectors. and drinks. category, which includes salty snacks, bars, nuts, confectionery and dry foods. They utilize the advanced equipment available and continually invest to maintain the product quality, process efficiency, and superior service for which they are renowned.
Its products are made from a wide range of industry approved materials such as polyethylene terephthalate, biaxially oriented polypropylene, polyethylene, cast polypropylene, sheets, paper, biodegradable films, etc. Since then, the flexible packaging material predominantly consists of plastic as the main raw material, the company aims to manufacture its products sustainably aiming at “Reuse, Recycle and Recycle”. They rigorously maintain the processes and accreditation necessary to ensure the quality needs of the customers they supply in the food and beverage industries.
SPPL has also installed an automated machine with automatic gauge control with minimum gauge variation, especially for edible oil industries. Currently, the company is working with Pidilite, Adani Wilmar and JVL and has also started vacuum bags for cashew nuts. Flexible packaging refers to a type of packaging material made from non-rigid materials, such as plastic, paper, or aluminum foil, to create sachets, pouches, and other flexible product packaging.
SATI POLY PLAST LIMITED IPO OBJECTIVES:
The company plans to allocate the net proceeds of the issue to the following purposes:
1. To meet working capital requirements
2. General corporate purpose
On the financial performance front, over the last three fiscal years, the company has recorded a total income/net profit/-(loss) of Rs. 175.16 million/Rs. 0.28 cr. in FY2022, Rs. 190.92 cr. / Rs. – 3.08 cr. in FY2023 and Rs. 179.35 cr. / Rs. 3.28 cr in FY 2024. The company has recorded PAT margins of FY 2024. 2022: 0.16%, FY2023: 1.62%, FY2024: 1.83%.
The lead manager of the issue is Beeline Capital Advisors Private Limited and the registrar of the issue is Link Intime India Private Limited.
(Disclaimer: The above press release is provided by HT Syndication and will not assume any editorial responsibility for this content.)
Sati Poly Plast Limited is an ISO certified company engaged in manufacturing flexible packaging material that is multifunctional and caters to the packaging requirements of various industries. The company offers comprehensive solutions for various flexible packaging needs. Sati Poly Plast Limited has filed the Red Herring Prospectus with NSE Emerge to raise funds through a public offer. The company will issue new shares for a maximum amount of 13,35,000. The IPO is open from July 12 to 16, 2024.
SATI POLY PLAST Limited IPO details:
Total equity shares: 13,35,000
Price band: Rs 123-130
Face value: 10 rupees
Lot size: 1000
QIB quota: 6,32,000 equity shares
(Including anchorage fee)
HNI share: 1,90,000 equity shares
Retail share: 4,43,000 equity shares
Market maker quota: 70,000 equity shares
IPO Size: ₹ 17.36 crs. (in the upper price band)
Listing – NSE Emerge
The company plans to allocate the net proceeds of 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 marketing flexible packaging material until the year 2015. From 2017, it started manufacturing flexible packaging material. The Company has established two manufacturing units, of which "Plant 1" is situated at C44, Phase II, Gautam Budh Nagar - Noida-201305 with an installed capacity of 540 tonnes 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 steadily 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 covers a variety of products in the food sectors. and drinks. category, which includes salty snacks, bars, nuts, confectionery and dry foods. They utilize the advanced equipment available and continually invest to maintain the product quality, process efficiency, and superior service for which they are renowned.
Its products are made from a wide range of industry approved materials such as polyethylene terephthalate, biaxially oriented polypropylene, polyethylene, cast polypropylene, sheets, paper, biodegradable films, etc. Since then, the flexible packaging material predominantly consists of plastic as the main raw material, the company aims to manufacture its products sustainably aiming at “Reuse, Recycle and Recycle”. They rigorously maintain the processes and accreditation necessary to ensure the quality needs of the customers they supply in the food and beverage industries.
SPPL has also installed an automated machine with automatic gauge control with minimum gauge variation, especially for edible oil industries. Currently, the company is working with Pidilite, Adani Wilmar and JVL and has also started vacuum bags for cashew nuts. Flexible packaging refers to a type of packaging material made from non-rigid materials, such as plastic, paper, or aluminum foil, to create sachets, pouches, and other flexible product packaging.
SATI POLY PLAST LIMITED IPO OBJECTIVES:
The company plans to allocate the net proceeds of the issue to the following purposes:
1. To meet working capital requirements
2. General corporate purpose
On the financial performance front, over the last three fiscal years, the company has recorded a total income/net profit/-(loss) of Rs. 175.16 million/Rs. 0.28 cr. in FY2022, Rs. 190.92 cr. / Rs. – 3.08 cr. in FY2023 and Rs. 179.35 cr. / Rs. 3.28 cr in FY 2024. The company has recorded PAT margins of FY 2024. 2022: 0.16%, FY2023: 1.62%, FY2024: 1.83%.
The lead manager of the issue is Beeline Capital Advisors Private Limited and the registrar of the issue is Link Intime India Private Limited.
(Disclaimer: The above press release is provided by HT Syndication and will not assume any editorial responsibility for this content.)
