Polysil Irrigation Systems Limited

POLYSIL

₹54-54

per share

Bidding Dates
8-13 Feb
Min. Investment
₹1,08,000.00
Lot Size
2000 shares
Issue Size
₹17.44 Cr

IPO Timeline

Bidding starts

08 Feb ‘24

Bidding ends

13 Feb ‘24

Allotment finalisation*

14 Feb ‘24

Refund initiation*

15 Feb ‘24

Demat transfer

15 Feb ‘24

Listing

16 Feb ‘24

* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.

About Polysil Irrigation Systems Limited

Incorporated in 1985 Polysil Irrigation Systems Limited is a fully integrated player within the drip irrigation and sprinkler irrigation sectors, with presence in the microin micro irrigation industry. The products are reckoned to meet high quality standards and their brand is associated with providing value based irrigation solutions to their end customers and are subject to BIS standards. The companycCompany 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 products are sold They sell their products through institutionsinstitution and open markets and open market sales. Under the open market sale, they sell their products through distributors and dealers, who then resell the products to customers i.e. farmers. As of July 31, 2023, they sell their we sold our products through 8 distributors and around 425 dealers in India. TheirOur end customers are eligible to receive government subsidy, the process for disbursal of such subsidy is managed by our distributor / dealers and/or our customers. TheyWe operate in the state of Gujarat, Tamil Nadu,Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana.

The companyCompany is engaged in manufacturing and sale of micro irrigation systems, consisting of drip irrigation system and sprinkler irrigation systems, its components, accessories, including irrigation accessories and allied products. Drip irrigation systems are used primarily for irrigating new crops such as vegetables, flowers, fruits, plantation cropscrop, etc.

Their micro irrigation systems (MIS) business is dependent upon the subsidy provided by the government (Central and State), which makes our business working capital intensive. The subsidy portion is about 50% to 70% of the approved cost of MIS. The farmer who purchases the MIS bears 30% - 50% of the cost and pays the same to our dealer/distributor.

As Polysil Irrigation Systems Limited gears up for its Initial Public Offering (IPO), the generated proceeds from the Fresh Issue will be strategically allocated to crucial objectives.

Funding our Working Capital Requirements; and
General Corporate Purpose

Here are key details about the Polysil Irrigation Systems Limited IPO:

Company Name	Polysil Irrigation Systems Limited	Polysil Irrigation Systems Limited IPO Opening Date	February 8, 2024
Company Established On	1985	Polysil Irrigation Systems Limited IPO Allotment Status	February 14, 2024
Polysil Irrigation Systems Limited IPO Closing Date	February 13, 2024	Polysil Irrigation Systems Limited IPO Listing Date	February 16, 2024
Credit of Shares to the Demat Account	February 15, 2024	Polysil Irrigation Systems Limited IPO Lot Size	1200 Shares
Polysil Irrigation Systems Limited IPO Face Value	₹10 per share	Polysil Irrigation Systems Limited IPO to be Listed on	BSE, NSE
Polysil Irrigation Systems Limited IPO Issue Size	₹74.52 Cr	Polysil Irrigation Systems Limited IPO Price band	₹109 to ₹115 per share

IPO analysis

Registrar information

Name

Bigshare Services Pvt Ltd

Phone number

+91-22-6263 8200

Email ID

ipo@bigshareonline.com

Red herring prospectus

View documents submitted by company in filing to understand more details about them.

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