look news india
Sylvan Plyboard IPO: If you are planning to earn money by betting on Initial Public Offering i.e. IPO, then this news is for you. Actually, the IPO of wood manufacturing company Sylvan Plyboard (India) Limited is about to be launched. The IPO of about Rs 28 crore will open for subscription on Monday, June 24 and will close on Wednesday, June 26.
What is price band
The price band of the Sylvan Plyboard IPO has been fixed at Rs 55 per share. The company plans to raise Rs 28.05 crore through a fixed price issue. The IPO is a fresh issue of 51 lakh equity shares. The allotment of Sylvan Plyboard IPO may take place on June 27, while the company will go public on July 1. Shares of Sylvan Plyboard will be listed on NSE SME. The lot size of the IPO is 2000 shares. Retail investors will have to invest ₹1,10,000 for at least one lot.
What will the company do
The funds raised from the Sylvan Plyboard IPO will be used to purchase the company's plant and machinery. The company will then use this amount to meet working capital requirements and general corporate purposes. Finshore Management Services is the book running lead manager of the Sylvan Plyboard IPO, while Bigshare Services Private Limited is the IPO registrar.
Company Financials
Sylvan Plyboards posted a net profit of ₹3.52 crore and revenue of ₹199.15 crore in FY23. For the nine months ended December 2023, the company posted a profit of ₹4.47 crore and revenue of ₹161.93 crore.
