Sylvan Plyboard Limited- IPO

NiftyTrader • June 24, 2024

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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