Sylvan Plyboard Limited’s (IPO) opens on June 24, 2024, and closes on June 26, 2024. The allotment for the Sylvan Plyboard IPO is anticipated to be completed on Thursday, June 27, 2024. The IPO will be listed on the NSE and SME, with a tentative listing date set for Monday, July 1, 2024.
The price band for the Sylvan Plyboard IPO is set at Rs 55 per share. The IPO is a book-built issue of Rs 28.05 crores, entirely a fresh issue of 51 lakh shares.
Sylvan Plyboard IPO Details
| IPO Date | June 24, 2024 to June 26, 2024 |
| Listing Date | [.] |
| Face Value | Rs 10 per share |
| Price | Rs 55 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,100,000 shares (aggregating up to ₹28.05 Cr) |
| Fresh Issue | 5,100,000 shares (aggregating up to ₹28.05 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 14,274,830 |
| Shareholding post issue | 19,374,830 |
| Market Maker portion | 256,000 shares |
Sylvan Plyboard IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | Rs 110,000 |
| Retail (Max) | 1 | 2000 | Rs 110,000 |
| HNI (Min) | 2 | 4000 | Rs 220,000 |
Sylvan Plyboard IPO Objectives
The objectives of the Issue are:
- Funding Capital Expenditure towards the purchase of additional plant and machinery.
- To meet the Working Capital Requirements.
- To meet the Issue Expenses.
About Sylvan Plyboard Limited
Sylvan Plyboard India Ltd, incorporated in 2002, has mastered the business of plywood manufacturing and marketing. The company was founded by the House of the Singh Group, plywood makers under the leadership of Mr. Jai Prakesh Singh. Sylvan Plyboard operates with 223 authorized dealers spread across 13 states.
The company’s product range includes:
- Plywood
- Block boards
- Flush doors
- Veneer
- Sawn timber
Sylvan Plyboard (India) Ltd Financial Information
Sylvan Plyboard (India) Ltd’s revenue increased by 15.17% and profit after tax (PAT) rose by 15.57% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 21,726.74 | 20,398.47 | 18,142.32 | 16,550.83 |
| Revenue | 16,193.24 | 19,915.32 | 17,292.63 | 11,028.91 |
| Profit After Tax | 447.98 | 352.85 | 305.31 | 37.09 |
| Net Worth | 9,456.77 | 8,811.78 | 8,283.26 | 7,977.95 |
| Reserves and Surplus | 8,029.28 | 7,882.14 | 7,374.05 | 7,068.74 |
| Total Borrowing | 6,454.53 | 5,500.55 | 4,579.24 | 4,701.16 |
Sylvan Plyboard IPO Timeline
| IPO Open Date | Monday, June 24, 2024 |
| IPO Close Date | Wednesday, June 26, 2024 |
| Basis of Allotment | Thursday, June 27, 2024 |
| Initiation of Refunds | Friday, June 28, 2024 |
| Credit of Shares to Demat | Friday, June 28, 2024 |
| Listing Date | Monday, July 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 26, 2024 |
Conclusion
Sylvan Plyboard Limited is set to launch its IPO from June 24 to June 26, 2024, at a price band of Rs 55 per share. This IPO, entirely a fresh issue, aims to raise Rs 28.05 crores to fund capital expenditure, meet working capital requirements, and cover issue expenses. With a strong presence in plywood manufacturing and a robust distribution network across 13 states, Sylvan Plyboard has shown consistent revenue and profit growth. Investors can expect the IPO to be listed on NSE SME on July 1, 2024, marking a significant opportunity in the plywood sector
