Shubham Polyspin IPO – Review, Allotment, Subscription, GMP & DRHP

Shubham Polyspin Limited is engaged in HDPE/PP woven polybags and consumer industry of the Multifilament yarn. The products are specifically researched and designed for the style-conscious woman. Shubham Polyspin IPO comprises of 1500000 Equity Shares of face value of Rs. 10/- each fully paid for cash at a price of Rs. 40/- per Equity Share aggregating to Rs. 600.00 Lakhs.

Let’s have a detailed review of the company and analytics of  the Shubham Polyspin IPO release date, IPO offer price, subscription, Shubham Polyspin IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Shubham Polyspin IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.5/10
Industry Ranking 7.8/10
Company Background 7.9/10
Company Reputation 7.9/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 8.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.9/10
Top Brokers Review 7.9/10
Overall Ratings 8.1/10
Star Ratings ★★★★☆

Summary of Shubham Polyspin Limited  IPO

Shubham Polyspin IPOShubham Polyspin Limited is engaged in HDPE/PP woven polybags and consumer industry of the Multifilament yarn. The Public Issue of 1500000 Equity Shares of face value of Rs. 10/- each fully paid for cash at a price of Rs. 40/- per Equity Share aggregating to Rs. 600.00 Lakhs. The Face value of The Equity Shares Is Rs.10 Each And The Issue Price Is Rs. 40. The Issue Price Is 4 Times of the Face value. The issue and the net issue will constitute 27.22% and 25.81% respectively of the post issue paid up equity share capital of the company.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,

  • The Total revenue from operations for the F.Y. 2017-18 was Rs. 2688.81 Lakh as compared to Rs. 1751.39 Lakh during the F.Y. 2016-17, showing increase of 53.52% in F.Y. 2017-18. The increase in revenue was attributable to the increase in the sales volume. The Total revenue from operations for the F.Y. 2016-17 was Rs. 1751.39 Lakh as compared to Rs. 1537.59 Lakh during the F.Y. 2015-16, showing increase of 13.90% in F.Y. 2016-17.
  • The other income increased from Rs. 19.80 Lakh in F.Y. 2016-17 to Rs. 138.19 Lakh in F.Y. 2017-2018, mainly due to increase in Interest Subsidy.
  • The Net Worth as per Restated Financial Statement as at March 31, 2018 and as on March 31, 2017 was Rs. 616.45 Lakh and Rs. 468.55 Lakh respectively.
  • The company has earned a profit after tax of Rs. 148.15 Lakh in the F.Y. 2017-18 as against profit after tax of Rs. 21.58 Lakh in the F.Y. 2016-17 and Rs 24.81 Lakh in the year F.Y. 2015-16.

The Promoters of this company are Mr. Anil Somani, Mr. Ankit Somani and Mr. Akshay Somani. The lead manager to the issue is Beeline Broking Limited and the Registrar to this issue is Line Intime India Private Limited.


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Shubham Polyspin IPO Date

The opening and the closing date of Shubham Polyspin Limited IPO is 28 Sept 2018 – 4 Oct 2018.


Shubham Polyspin IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 : 28 Sept 2018
Day 2 : 1 Oct 2018
Day 3 : 3 Oct 2018
Day 4 : 4 Oct 2018
Shares Offered or Net Issue

 


Shubham Polyspin IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Shubham Polyspin IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Shubham Polyspin IPO Equity Share Offering

The Public Issue of 1500000 Equity Shares of face value of Rs. 10/- each fully paid for cash at a price of Rs. 40/- per Equity Share aggregating to Rs. 600.00 Lakhs.


Shubham Polyspin Limited – Company Overview

Shubham Polyspin Limited was incorporated as “Shubham Polyspin Private Limited” at Ahmedabad on March 12, 2012, under the provisions of the Companies Act, 1956 by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. The name of THE Company was changed to “Shubham Polyspin Limited” on July 24, 2018 was issued by the Registrar of Companies, (RoC) Ahmedabad.

Shubham Polyspin Limited is engaged in HDPE/PP woven polybags and consumer industry of the Multifilament yarn. Multifilament yarn is the main component to be used in stitching of woven bags, manufacturing of geotextiles and filter fabrics as well as webbings. Multifilament Yarns enabled the bag manufacturer to switch to auto bag making machines which further reduces labour dependency and achieve defect free and time bound production.

They expanded their sales to nearby states like Rajasthan, Madhya Pradesh & Maharashtra and also ventured in Export Markets. In a period of few years, they penetrated deeply in these markets and expanded to a huge customer base. With a monthly production capacity of 200 MT, the promoters also focused to penetrate in countries like Belgium, Uganda, Zimbabwe, Africa, Poland, Italy, Turkey, Katar, Srilanka, Bangladesh, Tanzania, Nigeria, Madagascar and Kenya.

Their Products: Polypropylene multifilament yarn (twisted and air intermingled yarn) Shubhlon bag closing threads PP webbings & narrow woven fabrics.

The Company is promoted by Mr. Anil Somani, Mr. Ankit Somani and Mr. Akshay Somani and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Shubham Polyspin Limited:

  • Location of the Factory (Manufacturing Unit) and installed Capacity
  • Optimal Utilization of Resources
  • Management and Employee expertise
  • Quality Assurance.

Business strategies of Shubham Polyspin Limited:

  • To continuously increase the Installed Capacity
  • To increase brand visibility.
  • Enhancing the customer base.

Shubham Polyspin Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 758.51 789.88 1447.05 2029.45 1783.67
Total Revenue 626.13 1354.57 1540.45 1771.19 2827.00
Total Expense 623.12 1324.58 1503.64 1737.56 2650.21
Profit After Tax 2.18 20.47 24.81 21.58 148.15

Earnings per Equity Share (in Lakhs)

31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 0.98 0.67 0.46

From the above statements, one could find that the Shubham Polyspin Limited may perform well.


Shubham Polyspin IPO – Promoters

The Promoters of this company are

  • Mr. Anil Somani
  • Mr. Ankit Somani
  • Mr. Akshay Somani

List of Related Parties (Key Managerial Personnel)

  • Mr. Akshay Anilbhai Somani

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Shubham Polyspin IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 1500000 Equity Shares of Rs.10/- each at an Issue Price of Rs. 40/- each aggregating to Rs. 600.00 Lakh.
 Of which:
 Reserved for Market Makers 78000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 40/- each aggregating to Rs. 31.20 Lakh
 Net Issue to the Public 1422000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 40/- each aggregating to Rs. 568.80 Lakhs.
 Of which:
 Retail Investors Portion 711000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 40/- each aggregating to Rs. 284.40 Lakh
 Non-Retail Investors Portion 711000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 40/- each aggregating to Rs. 284.40 Lakh
 Equity Shares outstanding prior to the Issue 4010000 Equity Shares of face value of Rs.10 each.
 Equity Shares outstanding after the Issue 5510000 Equity Shares of face value of Rs.10 each.

Shubham Polyspin IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  General Corporate Purposes

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Shubham Polyspin IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Location of the Factory (Manufacturing Unit) and installed Capacity
  • Optimal Utilization of Resources
  • Management and Employee expertise
  • Quality Assurance.

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 1.14 7.14
31-Mar-17 0.59 4.61
31-Mar-18 3.69 24.03 15.37
  • Industry P/E Ratio:
Particulars P/E ratio
P/E ratio based on the Basic & Diluted EPS, as adjusted for FY 2017-18 10.84
P/E ratio based on Weighted Average EPS 17.92
  • Competitive Peers:
Particulars Face Value (in Rs.) EPS     (In Rs.) P/E Ratio RoNW NAV in Rs.
Shubham Polyspin Limited 10.00 3.69 10.84 20.43 15.37
Garware Technical Fibres
Limited
10.00 48.04 26.00 19.62 244.82

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Shubham Polyspin IPO Lead Managers

Lead Managers
BEELINE BROKING LIMITED
SEBI Registration Number: INM000012546
Address: Office No. 1 To 3,Vishwa Complex, First Floor, Opp.
Jain Derasar, Navrangpura, Ahmedabad – 380 009
Telephone Number: +91 79 6666 4007
Email Id:
Investors Grievance Id:
Website: www.beelinebroking.com
Contact Person: Mr. Vanesh Panchal
CIN: U51900GJ2014PLC080598

Shubham Polyspin IPO Registrar to offer

Registrar to the Offer
LINE INTIME INDIA PRIVATE LIMITED
SEBI Registration Number: INR000004058
Address: C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg,
Vikhroli (West), Mumbai – 400 083, Maharashtra
Tel. Number: +91 22 4918 6200; Fax Number: +91 22 4918 6195
Email Id:
Investors Grievance Id:
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Goapalkrishnan
CIN: U67190MH1999PTC118368

Other Details:

  • Statutory Auditor –  M/s. Jain P. C. & Associates, Chartered Accountants.
  • Peer Review Auditor – M/s. Jain P. C. & Associates, Chartered Accountants.
  • Bankers to the Company –Yes Bank Limited.

Shubham Polyspin IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10

Shubham Polyspin IPO Grey Market Premium

The Shubham Polyspin IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Shubham Polyspin IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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