Last updated on February 16, 2024
Polysil Irrigation IPO description – Established in 1985, Polysil Irrigation Systems is a fully integrated player in the drip and sprinkler irrigation sectors, with a presence in the micro irrigation industry.
The company is engaged in the manufacturing and sale of HDPE pipes, pipe fittings, and irrigation equipment, including disc filters, screen filters, hydro-cyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanical), fertilizer tanks, digital controllers, pressure gauges, etc. These products are marketed under the brand ‘Polysil’.
As of 31 July 2023, Polysil Irrigation has distributed its products through 8 distributors and approximately 425 dealers across India. The company’s end customers qualify for government subsidies, with the disbursement process overseen by its distributors, dealers, and/or the customers themselves. Polysil Irrigation Systems functions in the states of Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana.
As of 31 March 2023, the company’s total staff comprises 82 employees, encompassing skilled and unskilled labor, administrative staff, and the management team.
Promoters of Polysil Irrigation – Bharatkumar Patel, and Prafulbhai Radadia
Table of Contents
Polysil Irrigation IPO Details
| Polysil Irrigation IPO Dates | 8 – 13 Feb 2024 |
| Polysil Irrigation Issue Price | INR 54 per share |
| Fresh issue | 1,444,000 shares (INR 7.80 crore) |
| Offer For Sale | 1,784,000 shares (INR 9.63 crore) |
| Total IPO size | 3,228,000 shares (INR 17.43 crore) |
| Minimum bid (lot size) | 2,000 shares (INR 108,000) |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | NSE SME |
Polysil Irrigation Financial Performance
|  | FY 2021 | FY 2022 | FY 2023 | 31 Mar – 15 Aug 2024 |
| Revenue | 54.59 | 37.62 | 43.88 | 10.19 |
| Expenses | 53.68 | 36.99 | 41.27 | 8.46 |
| Net income | 0.65 | 0.34 | 1.14 | 1.10 |
Polysil Irrigation Offer News
- Polysil Irrigation RHP
- Polysil Irrigation Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Polysil Irrigation Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.66 | 0.34 | 1.15 |
| PE ratio | – | – | 46.96 |
| RONW (%) | 4.84 | 2.46 | 7.39 |
| NAV | 13.55 | 13.88 | 15.53 |
| ROCE (%) | 8.59 | 6.02 | 12.81 |
| EBITDA (%) | 5.60 | 7.58 | 10.53 |
| Debt/Equity | 0.83 | 1.09 | 1.01 |
Polysil Irrigation IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 12 February 2024 | – | – | – |
| 10 February 2024 | 5 | – | – |
| 9 February 2024 | 5 | – | – |
| 8 February 2024 | 5 | – | – |
Polysil Irrigation IPO Subscription – Live Updates
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 1,532,000 | 1,532,000 | 3,064,000 |
| 13 Feb 2024 | 2.23 | 11.62 | 6.92 |
| 12 Feb 2024 | 0.98 | 7.30 | 4.14 |
| 9 Feb 2024 | 0.51 | 4.31 | 2.41 |
| 8 Feb 2024 | 0.21 | 1.49 | 0.85 |
The market maker reservation portion of 1,64,000 shares is not included in the above calculations.
Polysil Irrigation IPO Allotment Status
Polysil Irrigation IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Polysil Irrigation IPO Dates & Listing Performance
| IPO Opening Date | 8 February 2024 |
| IPO Closing Date | 13 February 2024 |
| Finalization of Basis of Allotment | 14 February 2024 |
| Initiation of refunds | 15 February 2024 |
| Transfer of shares to demat accounts | 15 February 2024 |
| IPO Listing Date | 16 February 2024 |
| Opening Price on NSE SME | INR 56 per share (up 3.70%) |
| Closing Price on NSE SME | INR 54.25 per share (up 0.46%) |
Polysil Irrigation Offer Lead Manager
FEDEX SECURITIES PRIVATE LIMITED
B 7, 3rd Floor, Jay Chambers, Dayaldas Road,
Vile Parle – [East], Mumbai – 400 057, Maharashtra
Phone: +91 81049 85249
Email:Â [email protected]
Website:Â www.fedsec.in
Polysil Irrigation Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone:Â +91 22 6263 8200
Email:Â Â [email protected]
Website:Â www.bigshareonline.com
Polysil Irrigation IPO Contact Details
POLYSIL IRRIGATION SYSTEMS LIMITED
Survey No- 340/1, Beside Hystuff Steel, At Post Raniya,
Taluka Savli, District Vadodara, – 391780, Gujarat, India
Phone: 026 6724 4271/2
E-mail: [email protected]
Website: www.polysilirrigation.com
IPO FAQs
What is the Polysil Irrigation offer size?
Polysil Irrigation’s offer size is INR 17.43 crores.
What is the Polysil Irrigation offer price band?
Polysil Irrigation’s public offer price is INR 54 per share.
What is the lot size of the Polysil Irrigation IPO?
Polysil Irrigation’s offer lot size is 2,000 shares.
What is Polysil Irrigation IPO GMP today?
Polysil Irrigation IPO GMP today is INR NA per share.
What is the Polysil Irrigation kostak rate today?
Polysil Irrigation kostak rate today is NA per application.
What is Polysil Irrigation Subject to Sauda rate today?
Polysil Irrigation are Subject to the Sauda rate today is INR NA per application.
