Sati Poly Plast Limited Announces IPO to Raise ₹17.36 Cr

Sati Poly Plast Limited, a manufacturer of flexible packaging materials, has filed a Red Herring Prospectus with NSE Emerge for its IPO, aiming to raise ₹17.36 Cr. The company plans to utilize the proceeds for working capital and general corporate purposes. The IPO will be open from 12-16 July, 2024.

Mumbai (Maharashtra, India) - Sati Poly Plast Limited, an ISO Certified company specializing in flexible packaging materials, has announced its Initial Public Offer (IPO). Scheduled from July 12 to July 16, 2024, the IPO aims to raise ₹17.36 Cr. The funds will support working capital needs and corporate purposes.

The company plans to issue 13,35,000 fresh equity shares, with a price band ranging from Rs.123 to Rs.130 per share. Categories include QIB Quota, HNI Quota, and Retail Quota. Sati Poly Plast has been in the manufacturing sector since 2017, operating two units in Noida with a total installed capacity of 1080 tonnes per month.

Focused on innovative and sustainable packaging solutions, Sati Poly Plast serves various industries including food and beverage. The company has partnered with prominent brands like Pidilite and Adani Wilmar. Financially, the firm noted revenue of Rs. 179.35 Cr. and net profit of Rs. 3.28 Cr. in FY 2024.

(With inputs from agencies.)