SPP Polymers IPO Listing: Shares of bag company SPP Polymers made a grand entry on NSE's SME platform today. On the strength of retail investors, its IPO received more than 43 times the overall bid. Shares have been issued for Rs 59 under the IPO. Today it has entered NSE SME at Rs 63, that is, IPO investors got a listing gain (SPP Polymers Listing Gain) of 6.78 percent. However, the happiness of IPO investors faded in a short time when the shares fell. After falling, it came to the lower circuit of Rs 59.85 (SPP Polymers Share Price), that is, IPO investors are now in profit of just 1.44 percent.

SPP Polymers IPO got a strong response

SPP Polymers' Rs 24.49 crore IPO was open for subscription from September 10-12. This IPO received a good response from investors on the strength of retail investors and was overall subscribed 43.29 times. In this, the half portion reserved for retail investors was filled 59.87 times. Under this IPO, 41.50 lakh new shares with a face value of Rs 10 have been issued. The company will use the money raised through these shares to repay debt, meet working capital requirements, and for general corporate purposes.

About SPP Polymers

SPP Polymers (formerly SPP Food Products Private Limited), formed in the year 2004, manufactures bags. This company is based in Rudrapur city of Uttarakhand. It has 4 employees on its payroll. Talking about the financial health of the company, it has continuously strengthened. In the financial year 2022, it had a net profit of Rs 28.01 lakh, which jumped to Rs 54.42 lakh in the next financial year 203, and reached Rs 99.4 lakh in the financial year 2024. During this period, the company's revenue grew at a compound growth rate (CAGR) of more than 7 percent annually to Rs 93.81 crore. Talking about the current financial year 2024-25, in the first quarter April-June 2024, it has achieved a net profit of Rs 91.33 lakh and a revenue of Rs 28.96 crore.