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Shubham Polyspin Limited’s IPO Opens on Friday, September 28, 2018

by businesswireindia.com

Business Wire India
Mehsana based Shubham Polyspin Limited (SHUBHAM), an existing, profit making company engaged in manufacturing of Polypropylene (PP) multifilament yarn having installed capacity of 250 Metric Ton (MT)/per month, plans to open its initial public offering (IPO) on Friday, September 28, 2018. The Public issue will be of 15,00,000 equity shares of face value of Rs. 10 each for cash at a price of Rs. 40 per equity share aggregating to Rs. 600.00 Lakhs. Out of these 78,000 equity shares will be reserved for subscription by market maker. The net issue will constitute 25.81% of the fully diluted post-issue paid up equity share capital of the Company. The shares would be listed on SME Platform of BSE Limited i.e. BSE SME Platform. The IPO will close on Thursday, October 4, 2018. Beeline Broking Limited (BEELINE) is the Lead Manager to the Issue and SHUBHAM’s IPO is the 2nd IPO of BEELINE. Moreover, BEELINE is also the Market Maker to the Issue. Moreover, First IPO handled by Beeline that is Ranjeet Mechatronics Limited listed at BSE SME Platform on September 26, 2018 opened at a price of Rs. 28.85 that is 15.40% above the issue price of Rs. 25. Company will utilize the Net IPO proceeds for Modernisation of Plant and Machineries, Building and Electrification, to meet the Working Capital Requirements, Developing new products and for General Corporate purposes.
The Company was originally incorporated as 'Shubham Polyspin Limited' at Ahmedabad on March 12, 2012, under the provisions of the Companies Act, 1956. Initially, Our Company has taken premises at Block no. 95/3, Shed No. C2 &C3, Trimul Industrial Estate, Vadsar Village, Gandhinagar, on rental basis which is admeasuring area of approx 4800 Square feet to commence the manufacturing unit of PP multifilament yarn having installed capacity of 50 Metric Ton (MT) per month in the year 2013. Our Company has acquired land at Village Borisana (Taluka-Kadi), Mehsana, in May, 2015 for setting up manufacturing unit in the year 2015 admeasuring area of 5009 sq. mtrs. The land purchased was later developed by constructing a Factory Shed admeasuring approximated 2800 sq.mtrs. along with Staff Quarters and Administrative Building. The promoters further decided to add 2 more Spin Draw Line Machines from Lohia Corp Ltd, hence increasing the total capacity of the company to 200 MT/per month. Further old plants from rented premises were shifted to the new production site and all the 4 plants were fully operational by August 2016. We also manufacture on Job Work basis and get our products manufactured on Job Work basis. We also manufacture on Job Work basis and get our products manufactured on Job Work basis. With a monthly production capacity of 200 MT, the promoters also focused to penetrate in countries like Belgium, Uganda, Zimbabwe, Africa, Poland, Italy, Turkey, Katar, Srilanka, Bangladesh, Tanzania, Nigeria, Madagascar and Kenya. Currently the total combined capacity of the company is 250 MT/per month.
The Promoters of Company are Mr. Anil Somani, Mr. Ankit Somani, and Mr. Akshay Somani and who is having experience of more than 35 years, 8 years and 5 years respectively in the field of manufacturing/ yarn Industry. The Company’s strengths include Locations of the Factory (manufacturing unit) and installed capacity of 250 MT/ per month, management and employees expertise, Optimal utilization of resources, quality assurance.

Shubham, based on its Financial Statements, has achieved the total income of Rs. 2827.00 Lakh in the FY 2017-18 as compared to Rs. 1771.19 Lakh during the FY 2016-2017, showing a increase of 59.61% in FY 2017-18 due to increase in revenue from operations and other income in FY 2017-18. The Company has booked profit after tax of Rs. 148.15 Lakhs in the FY 2017-18 as compared to Rs. 21.58 Lakhs in the FY 2016-17 due to increase in sales and margins on product developed.
Source: Businesswire