IPO Details

Bidding Dates

07 May '24 - 10 May '24

Minimum Investment

₹1,04,000 / 1 Lot ( 2,000 Shares )

Price Range


Maximum Investment

₹1,04,000 / 1 Lot ( 2,000 Shares )

Retail Discount

To be announced

Issue Size

₹18.11 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 7, 2024

IPO Closing Date

May 10, 2024

Basis of Allotment

May 13, 2024

Initiation of Refunds

May 14, 2024

Credit of Shares to Demat

May 15, 2024

IPO Listing Date

May 15, 2024

Cut-off time for UPI mandate confirmation

May 10, 2024

About Silkflex Polymers (India) Ltd

Silkflex Polymers India Limited, established on May 13, 2016, is engaged in the trade of textile printing inks and water-based wood coating polymers sourced from Silkflex Polymers SDN BHD, a notable Malaysian entity. The company offers a range of 108 textile printing ink products alongside 51 wood-coating polymer products.

As of May 1, 2024, its main office is located in West Bengal. In addition, it operates five regional branches across India, located in Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab.

The products distributed by Silkflex Polymers India Limited are manufactured by Silkflex Polymers Sdn. Bhd. of Malaysia, a leading producer in the Malaysian garment printing ink market. This manufacturer boasts a sophisticated thermal reactor with a production capacity of 1000 metric tons per month.

The firm markets its products primarily in five Indian states: West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat. By the end of December 31, 2023, Silkflex Polymers India Limited employed 28 permanent staff members across its various locations.

Industry Outlook:

  1. As of 2019, India's chemicals industry was valued at $178 billion and is projected to rise to $304 billion by 2025, with a CAGR of 9.3%. This robust growth is fueled by increasing domestic and global demand.
  2. By 2030, the chemical industry is set to contribute $383 billion to India's GDP, showcasing its pivotal role in the nation's economic expansion and global chemical market.
  3. The demand for chemicals and petrochemicals in India is anticipated to nearly triple by 2040, reaching an estimated $1 trillion, driven by continuous industrial growth and advancements in chemical technologies.

Silkflex Polymers (India) Ltd IPO Details

Silkflex Polymers (India) Ltd IPO Dates

Silkflex Polymers (India) IPO is open from May 7, 2024, to May 10, 2024. The IPO will be listed on NSE Emerge.

Silkflex Polymers (India) Ltd IPO Price Band

Silkflex Polymers (India) is a fixed-price issue IPO. The price band is set at ₹52 per share.

Silkflex Polymers (India) Ltd IPO Lot Size

The lot size for Silkflex Polymers (India) Limited’s IPO is 2,000 shares with a minimum investment of ₹1,04,000.

Silkflex Polymers (India) Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Acquisition of land;
  2. Funding of capital expenditure requirements of the Company towards the purchase of Plant and machinery;
  3. Funding Working Capital Requirements of the Company; and
  4. General corporate purposes.

Peer Details

The companies considered by Silkflex Polymers (India) as its peers include:

  1. Basf India Ltd.
  2. Heubach Colorants India Limited
  3. Berger Paints India Ltd.

How to Check the Allotment Status of the Silkflex Polymers (India) Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the Individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Silkflex Polymers (India) Limited IPO

  • Registered office: Daga Complex, Sulati Jaladhulagori, Sankrail, Howrah-711302, West Bengal, India.
  • Phone: +91 9674912615
  • E-mail:investors@silkflexindia.in

IPO Financials

Particulars 9-Month period Ending on December 31, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Revenue (in ₹ lakh) 3,381.55 3,442.25 2,804.52 2,096.07
Profit After Tax (PAT) (in ₹ lakh) 256.66 78.59 68.59 45.35
Cash & Cash Equivalents (in ₹ lakh) 6.06 3.78 3.95 5.36
Net Worth (in ₹ lakh) 1073.28 816.62 738.03 513.51
Debt to Equity Ratio(x) 1.60 1.48 1.35 1.19
Return on Equity (%) 23.91% 10.11% 10.96% 11.52%
Return on Capital Employed (RoCE) (%) 41.04% 26.93% 22.42% 27.49%
Diluted Earning Per Share (EPS)-in absolute ₹ 0.97 0.97 0.85 0.68

Know before investing


  1. Silkflex products are ZDHC Confidence Level 3 certified, ensuring removal of harmful chemicals and eco-friendly production.

  2. The company offers a broad range of textile printing inks and unique water-based wood coatings, meeting diverse industry needs.

  3. The company operates in 5 key Indian states, significantly reducing transportation costs and ensuring consistent product availability.

  4. Directed by Mr. Tushar Lalit Kumar Sanghavi and Mrs. Urmi Raj Mehta, bringing 18 and 3 years of industry experience respectively.


  1. The promoters and directors of the company face criminal charges; adverse outcomes could damage reputation and disrupt operations.

  2. The company relies on Silkflex Malaysia for 96.48% of purchases; termination could significantly impact supply and profitability.

  3. The top 10 customers of the company account for 71.88% of revenue; loss of any could severely affect financial results.

  4. If the company fail to meet stringent customer standards could lead to contract cancellations and damage business's reputation.

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Silkflex Polymers (India) IPO FAQs

What is Silkflex Polymers (India) Ltd's IPO?

Silkflex Polymers (India) Limited IPO is a fixed-price IPO. The IPO will be open from May 7, 2024, to May 10, 2024.

When will Silkflex Polymers (India) Ltd's IPO be allotted?

The Basis of Allotment will happen on Monday, May 13, 2024.

When will Silkflex Polymers (India) Ltd's IPO open for subscription?

The IPO subscription window will open on May 7, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2,000 shares.

When will Silkflex Polymers (India) Ltd list on exchanges?

The listing date for Silkflex Polymers (India) is Wednesday, May 15, 2024.

What would be the listing gains on the Silkflex Polymers (India) Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Silkflex Polymers (India) Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Silkflex Polymers (India) Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Silkflex Polymers (India) Ltd using one PAN?

You can submit only one application using your PAN card.