Polysil Irrigation Systems Limited

Company Name	Polysil Irrigation Systems Limited
Open Date	08-02-2024
Close Date	13-02-2024
Exchange	NSE SME
Lot Size	2000 Shares
Issue Price	₹54 per share
Issue Size	32,29,000 shares
Application Amount	₹1,08,000
Recommendation	Avoid

Polysil Irrigation Systems Limited was originallyincorporated in the year 1985 and had its registered office in Vadodara, Gujarat, India.The Company is engaged in manufacturing and sale of HDPE pipes, fittings and micro irrigation systems, such as drip irrigation system and sprinkler irrigation system, its components, accessories and allied products.The Company is a fully integrated player within the drip irrigation and sprinkler irrigation sectors, with presence in micro irrigation industry.As of December 31st, 2023, the Company had 52 employees on its payroll.

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Financial Summary in Lakhs

For the Period Ended	Mar-21	Mar-22	Mar-23	15-Aug-23
Total Assets	4,178.47	4,616.79	5,531.46	5,671.49
Net Assets	1,338.32	1,372.06	1,535.71	1,646.02
Total Borrowings	1,104.83	1,494.96	1,547.25	1,566.17
Total Revenue	5,471.58	3,767.21	4,392.49	1,019.74
Profit After Tax	64.80	33.75	113.52	110.31

Tentative Timeline

Opening Date	08-02-2024
Closing Date	13-02-2024
Basis of Allotment	14-02-2024
Initiation of Refunds	15-02-2024
Credit of Shares to Demat	15-02-2024
Listing Date	16-02-2024

Objects of the Issue

Funding of working capital requirements.

General corporate purposes.

Contact Information

Registered Office	Polysil Irrigation Systems Limited Survey No- 340/1, Beside Hystuff Steel, At Post Raniya, Taluka Savli, District Vadodara - 391780
Phone	026 6724 4271/2
Email	secretarial@polysilirrigation.com
Website	https://polysilirrigation.com/

Offer Documents

Polysil Irrigation Systems IPO DRHP

Polysil Irrigation Systems IPO RHP

Registrar Details

Name	Bigshare Services Pvt Ltd
Phone	+91-22-6263 8200
Email	ipo@bigshareonline.com
Website	https://ipo.bigshareonline.com/ipo_status.html

IPO Reservation

Anchor Investor Shares Offered	-
Market Maker Shares Offered	164,000 (5.08%)
Other Shares Offered	1,532,000 (47.46%)
Retail Shares Offered	1,532,000 (47.46%)
Total Shares Offered	3,228,000 (100%)

Shareholding Pattern

Share Holding Pre Issue (Promoters)	35.72%
Share Holding Post Issue (Promoters)	31.17%