Polysil Irrigation Systems share price makes a tepid debut, stock lists with 3.7% premium at ₹56 apiece on NSE SME

Polysil Irrigation Systems IPO listing price: Polysil Irrigation Systems share price made a tepid debut on NSE SME today. On NSE SME, Polysil Irrigation Systems share price was listed at ₹56, which is 3.7% higher than the issue price of ₹54.

Polysil Irrigation Systems IPO price band was set at ₹54 apiece. Polysil Irrigation Systems IPO opened for subscription on Thursday, February 8, and closed on Tuesday, February 13. Polysil Irrigation Systems IPO lot size consisted of 2,000 shares. Investors could bid for a minimum of 2,000 shares and in multiples thereof.

Also Read: Polysil Irrigation Systems IPO allotment finalised: Latest GMP, how to check allotment status

Under the Polysil brand, Polysil Irrigation Systems Limited was founded in 1985 and produces and markets HDPE pipes, fittings, and micro irrigation systems, including sprinkler and drip systems, along with their associated products and accessories.

The company's promoters are Prafulbhai Radadia and Bharatkumar Patel.

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Polysil Irrigation Systems IPO details 

The issue is a combination of fresh issue of 14.44 lakh shares aggregating to ₹7.80 crores and offer for sale of 17.85 lakh shares aggregating to ₹9.64 crores.

The company proposes to utilize the net proceeds from the offer towards funding its working capital requirements and general corporate purposes.

Fedex Securities Pvt Ltd is the book running lead manager of the Polysil Irrigation Systems IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Also Read: Polysil Irrigation Systems IPO: Here's price band, date, GMP and other details

Polysil Irrigation Systems IPO GMP today

Polysil Irrigation Systems IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹54 with no premium or discount in the grey market according to topsharebrokers.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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