Polysil Irrigation IPO Day-2: GMP, subscription status, issue details, all you need to know.

Polysil Irrigation IPO Day-2: Polysil Irrigation Systems Limited  Initial public offering (IPO)  opened for subscription on February 8, 2024 and will close on February 13, 2024. 

Polysil Irrigation Systems IPO was subscribed 2.36 times on February 9, 2024 by  5:00:00 PM . The public issue subscribed 4.31 times in the retail category,  on Day-2 and 0.40 times in the NII category, as per Chittorgarh.com data.

The allotment for the Polysil Irrigation Systems small and medium sized enterprise (SME) IPO is expected to be finalized on Wednesday,

Polysil Irrigation Systems IPO is a fixed price IPO. The shares are being offered to investors at ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.

The total issue size comprises of 3,229,000 shares (aggregating up to ₹17.44 Crore. out of this 1,444,000 shares (aggregating up to ₹7.80 Cr) is the fresh issue of shares while rest is offer for sale. Or 17.85 lakh shares aggregating to ₹9.64 crores comprise offer for sale .

Objects of the Polysil Irrigation Systems Limited IPO are that the company proposes to utilize the net proceeds from the Offer towards the funding of its working Capital Requirements; and for general corporate purposes.

Polysil Irrigation Systems Limited, established in 1985, manufactures and distributes HDPE pipes, fittings, and micro irrigation systems, such as drip irrigation systems and sprinkler irrigation systems as well as their components, accessories, and related products under the brand name Polysil.

The company's product range thereby includes 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 gages, etc.

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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. The market maker for Polysil Irrigation Systems IPO is Market-Hub Stock Broking.

BharatKumar Patel is the Managing Director and Chief Executive Officer (CEO) of board of directors of Polysil Irrigation Systems. Bharatkumar Patel and Prafulbhai Radadia are the promoters of the company.

Polysil Irrigation Systems Limited IPO Details:

Polysil Irrigation Systems IPO Date:  The issue opened for subscription on February 08 2024 and closed on February 13, 2024.

Polysil Irrigation Systems IPO Issue Price: It is a fix price IPO where shares are being offered at ₹ 54 Per Equity Share

Polysil Irrigation Systems IPO Issues Size- Ttal issue size comprises of 3,229,000 shares (aggregating up to ₹17.44 Crore. While 1,444,000 shares (aggregating up to ₹7.80 Cr), is the fresh issue of shares, 17.85 lakh shares aggregating to ₹9.64 crores comprise offer for sale .

Polysil Irrigation Systems IPO Lot Size; The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.

Polysil Irrigation Systems IPO Face Value: ₹ 10 Per Equity Share

Polysil Irrigation Systems IPO Allotment date: The allotment is expected to be finalized on Wednesday, 14 February

Polysil Irrigation Systems IPO Listing Date: The tentative listing date is February 16 2024  for the IPO. Polysil Irrigation Systems will see Listing at NSE Emerge

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Polysil Irrigation Systems IPO Registrar- 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

Polysil Irrigation Systems Grey Market premium (GMP)

The IPO grey market is basically an unofficial market in which IPO applications or shares can be bought and sold prior to them being officially traded on the stock exchange. As per investorgain.com the shares of the company are available at Nil premium in the grey market today. 

 February 14, 2024. Polysil Irrigation Systems IPO will list on NSE SME with tentative listing date fixed as Friday, February 16, 2024.