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Sylvan Plyboard Makes Strong Debut, Lists with 20% Premium on NSE SME

Sylvan Plyboard's NSE SME debut impresses with a 20% premium, listing at ₹66 above ₹55 issue price. Shares hit ₹69.20 intraday high, nearly reaching ₹69.30 upper circuit.
Sylvan Plyboard Makes Strong Debut, Lists with 20% Premium on NSE SME

Sylvan Plyboard made a strong debut on NSE SME, listing at ₹66 per share, a 20% premium over its ₹55 issue price. The stock quickly reached an intraday high of ₹69.20, narrowly missing the upper circuit of ₹69.30. 

The ₹28.05 crore IPO, open from June 24 to 26, 2024, comprised 51 lakh fresh equity shares. Investors could bid in lots of 2,000 shares. The proceeds will fund capital expenditure for plant and machinery, meet working capital needs, and support general corporate purposes, including expansion and debt reduction.

Sylvan Plyboard Limited, established in 2002, evolved from a 1951 trading concern to a manufacturer of diverse wood products. With over 12 plywood offerings contributing 81.74% of revenue, the company markets products under the “Sylvan” brand through 223 dealers across 13 states. Their range includes premium, mid-range, and budget-friendly options, catering to various customer segments with BWP and BWR plywood varieties.

Sylvan Plyboard’s IPO aims to fund capital expenditure for plant and machinery (₹3.71 crore) and meet working capital needs (₹165.50 crore for FY 2024-25, ₹175.39 crore for FY 2025-26). The remaining funds will support general corporate purposes, including strategic initiatives, brand building, and contingencies to drive business growth and sustainability.

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फार्मा स्टॉक में उछाल, ₹177 करोड़ के ब्राउनफील्ड प्रोजेक्ट के लिए कैपेक्स की घोषणा की।

फार्मा स्टॉक ने झगड़िया में ₹177 करोड़ का अपग्रेड प्लान किया है, जिससे संचालन ऑटोमेट होगा और इलेक्ट्रोलाइट एडिटिव्स सुविधा