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Solve Plastic Products IPO Launches Strong with 12% Premium and High Demand

Solve Plastic Products' IPO debuted at ₹102 per share on NSE SME, a 12% premium over the ₹91 issue price, showing strong investor confidence.
Solve Plastic Products IPO Launches Strong with 12% Premium and High Demand

Solve Plastic Products’ IPO debuted at ₹102 on the NSE SME, a 12% jump from the ₹91 issue price, showing strong retail investor interest. This robust demand marked its successful market entry on August 21.

Solve Plastic Products IPO attracted substantial interest on day 3, achieving a subscription rate of 34.23 times. A total of 4.23 crore shares were bid for, against just 12.36 lakh offered, with retail investors leading at a 46.76 times subscription rate.

Established in 1994, Solve Plastic Products Limited manufactures uPVC and rigid PVC electrical conduits under “BALCOPIPES.” It operates four units in Kerala and Tamil Nadu, with product approvals from BIS, CPWD, MES, and others. The company mainly markets its products in Kerala.

The IPO proceeds will fund capital expenditures, enhance working capital, cover issue costs, and support general corporate needs. Finshore Management Services and Integrated Registry Management Services handled the IPO, with Black Fox Financial as the market maker.

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