GM Polyplast is a Mumbai-based manufacturer established in 2003, specializing in the production of high-grade sheets and granules. The company’s product portfolio includes PVC sheets, HIPS sheets, HDPE sheets, ABS sheets, and other innovative products. In addition to manufacturing sheets, the company also produces the raw material used to create them.
GM Polyplast operates a modernized manufacturing unit in Dadra & Nagar Haveli that is equipped with advanced technology and equipment to deliver high-quality sheets to its clients. The company supplies its products domestically across various states, including Maharashtra, Gujarat, West Bengal, Tamil Nadu, and others. It also exports its products to countries such as the UAE, Israel, Hong Kong, and Jordan. GM Polyplast’s commitment to innovation and high-quality products has enabled it to establish a strong presence in both domestic and international markets.
GM Polyplast IPO Details
| IPO Date | Sep 30, 2020 to Oct 6, 2020 |
| Listing Date | Oct 14, 2020 |
| Face Value | ₹10 per share |
| Price | ₹159 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 508,800 shares (aggregating up to ₹8.09 Cr) |
| Fresh Issue | 322,800 shares (aggregating up to ₹5.13 Cr) |
| Offer for Sale | 186,000 shares of ₹10 (aggregating up to ₹2.96 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
GM Polyplast IPO Tentative Timetable
GM Polyplast IPO opens on Sep 30, 2020, and closes on Oct 6, 2020.
| Event | Tentative Date |
| Opening Date | Sep 30, 2020 |
| Closing Date | Oct 6, 2020 |
| Basis of Allotment | Oct 9, 2020 |
| Initiation of Refunds | Oct 13, 2020 |
| Credit of Shares to Demat | Oct 13, 2020 |
| Listing Date | Oct 14, 2020 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Industry Overview
Company operates in the plastics manufacturing industry, which is a major segment of the global chemical industry. This industry includes the production of various plastic products such as PVC sheets, HIPS sheets, HDPE sheets, and others. The global plastic industry is expected to grow at a compound annual growth rate (CAGR) of around 4.0% from 2021 to 2028 due to the increasing demand for plastics in various end-use industries such as packaging, construction, automotive, and electronics.
In India, the plastics industry has been witnessing significant growth due to the country’s large population, rising disposable incomes, and rapid industrialization. The industry is expected to grow at a CAGR of around 8.4% from 2021 to 2026. The demand for plastic products in India is driven by various sectors such as packaging, construction, automotive, and consumer goods. As a manufacturer of high-grade plastic sheets, GM Polyplast is well-positioned to benefit from the growth of the plastics industry in India and globally.
Company Financials
Summary of financial Information (Restated Consolidated)
| Particulars | For the year/period ended (Rs in Lacs) | ||
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 2,482.68 | 2,537.03 | 2,533.25 |
| Total Revenue | 6,342.98 | 6,834.50 | 5,551.24 |
| Profit After Tax | 231.80 | 138.04 | 92.20 |
Objects of the Issue
The net proceeds from the IPO will be used towards the following objectives;
- To meet the working capital requirements of the company.
- To meet general corporate purposes.
GM Polyplast IPO Prospectus
Company Contact Information
G M Polyplast Limited
A-66, New Empire Industrial Estate
Kondivita Road, Andheri East
Mumbai-400059
Phone: 91-022-2820 9552
Email: info@gmpolyplast.com
Website: http://www.gmpolyplast.com/
GM Polyplast IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
GM Polyplast IPO Lead Manager(s)
- Gretex Corporate Services Pvt Ltd (Past IPO Performance)
