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Event Name: Silkflex Polymers IPO
Category: IPO
Event Date: 7th – 15th May, 2024
Location: India NSE SME platform
Silkflex Polymers IPO: Silkflex Polymers (India) Ltd has launched its initial public offering (IPO) on Tuesday, May 7, 2024
Silkflex Polymers IPO opened for subscription on May 7 and will close today, May 10. The IPO allotment is expected to be finalized on May 13 and the equity shares of the company will list on NSE SME with a tentative listing date fixed on May 15.
Silkflex Polymers IPO is an SME IPO and the equity shares of Silkflex Polymers (India) will be listed on NSE SME platform. Silkflex Polymers IPO price band is fixed at ₹52 per share. The SME IPO is a fixed price issue worth ₹18.11 crore which is entirely a fresh issue of 34.82 lakh shares.
The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹104,000.
The company proposes to utilize the net issue proceeds towards funding the acquisition of land, funding the capital expenditure requirements towards purchase of plant and machineries, working capital requirements and general corporate purposes.
Shreni Shares Limited is the book running lead manager of the Silkflex Polymers IPO, while Bigshare Services Pvt Ltd is the IPO registrar. Silkflex Polymers IPO has been subscribed 14.94 times so far on May 10, the fourth and the last day of the bidding process. The public issue received bids for 4.93 crore equity shares as against 33.04 lakh shares offered, as per data available till 1:40 pm. The IPO has been subscribed 16.92 times in the retail category and 8.97 times in the Non-Institutional Investors (NII) category so far.
Silkflex Polymers India sells textile printing inks and water-based wood coating polymers produced by Silkflex Polymers Sdn. Bhd. Malaysia. The company offers 108 textile printing ink products and 51 wood coating polymer products and has a capacity of 1,000 MT per month.