IPO Details
Issue Date
--
Investment/lot
--
Price Range
--
Lot Size
--
IPO Size
N/A
Schedule of Vigor Plast India Ltd
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Vigor Plast India Limited IPO
Vigor Plast India Limited IPO is an IPO of up to 31,50,000 equity shares. It consists of an offer for sale of up to 6,00,000 equity shares and a fresh issue up to 25,50,000 equity shares. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA and the initiation of refunds will take place on TBA.
Objective of Vigor Plast India Limited IPO
-
Repayment of certain secured borrowings availed by the company.
-
Funding capital expenditure towards the development and construction of a new warehouse in Ahmedabad, Gujarat.
-
General corporate purposes.
Vigor Plast India Limited IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | TBA |
Existing Shares to be Sold | Up to 6,00,000 Equity Shares |
Fresh Issue | Up to 25,50,000 Equity Shares |
EPS (₹) For the year ended March 31, 2024 | 3.74 |
Vigor Plast India Limited IPO Share offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-Institutional Investors (NIIs) | Not less than 15% of the offer |
Retail Individual Investors | Not less than 35% of the offer |
Industry Outlook
The Indian plastic industry is one of the leading sectors in the country’s economy. The industry is present across the country and has more than 2,500 exporters. It employs more than 4 million people in the country and constitutes 30,000 processing units; among these, 85-90% belong to small and medium enterprises. India manufactures various products such as plastics and linoleum, houseware products, cordage, fishnets, floor coverings, medical items, packaging items, plastic films, pipes, raw materials, etc. The country majorly exports plastic raw materials, films, sheets, woven sacks, fabrics, and tarpaulin. The Government of India intends to take the plastic industry from its current level of US$ 3,780 crores of economic activity to US$ 12,600 crores in 4-5 years. 10 Plastic Parks have been approved in the country by The Department of Chemicals and Petrochemicals. These parks are intended to boost employment and attain environmentally sustainable growth.
Company Information
Vigor Plast India Limited is a manufacturer and supplier of a comprehensive range of chemicals such as Polyvinyl Chloride (PVC), Unplasticised Polyvinyl Chloride (uPVC), and Chlorinated Polyvinyl Chloride (cPVC) pipes, fittings, and related products for various applications in plumbing, irrigation, and SWR (Soil, Waste, and Rainwater) management. The company caters to both rural and urban markets and provides long-lasting solutions for water distribution, wastewater management, and drainage. Their products, known for their durability and resistance to corrosion, are used across residential, commercial, agricultural, and industrial sectors. They focus on delivering high-quality, efficient systems that meet the diverse requirements of their customers.
Vigor Plast India Ltd Strengths
Wide range of products to serve its customer base. The company offers an extensive range of pipes and fittings designed to meet the varied needs of our customers across multiple sectors, including residential, commercial, and industrial applications.
Strategically located manufacturing facility supported by robust infrastructure resulting in production, cost and time efficiencies.
The company is certified under ISO 9001:2005 Quality Management Standard as a manufacturer, exporter and supplier of PVC, cPVC and uPVC Pipes and fittings
Risks of Vigor Plast India Limited IPO
-
Dependence on a single manufacturing facility may have an adverse effect on our business, results of operations and financial condition.
-
They generate a major portion of revenue from their operations in certain geographical regions. Any adverse developments affecting our operations in these regions could have an adverse impact their revenue and results of operations.
-
Any increase in the cost of their raw material or other purchases or a shortfall in the supply of their raw materials, may adversely affect the pricing and supply of their products and have an adverse effect on their business, results of operations and financial condition.
All Financial Information about Vigor Plast India
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Parameter | Vigor Plast India Ltd | Captain Pipes Ltd |
|---|---|---|
Revenue from operations for the year ended March 31, 2024 (₹ in crores) | 4,248.08 | 7,634.77 |
P/E | --- | 70.10 |
EPS (Basic)(₹) | 3.74 | 0.27 |
Return on Net Worth (%) | 94.46% | 17.43% |
NAV per share (₹) | 5.83 | 1.73 |
Anchor Investor Information
The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date.
IPO Registrar and Book Running Lead Managers
Book running lead managers:
Unistone Capital Private Limited
Registrar for the IPO is KFin Technologies Limited
Business Model
The company earns its revenue through the following:
- Trading of PVC pipes and fittings.
- Manufacturing of Polyvinyl Chloride (PVC), Unplasticised Polyvinyl Chloride (uPVC), and Chlorinated Polyvinyl Chloride (cPVC) pipes, fittings, and related products.
Company Growth Trajectory
The total revenue from operations for the period ending on 31 October 2024 amounted to ₹27.094 crores, representing 99.57% of the company’s total income. Other income for the same period amounted to ₹0.118 crores, representing 0.43% of the total income. Their products are marketed across various parts of India and they have generated ₹2,6.3562 crore, ₹4,1.2483 crore, ₹36.0339 crore and ₹.31.1182 lakh, from their domestic sales for the period ending October 31, 2024 and fiscal year ending 2024, 2023 and 2022 respectively.
Company Market Position
Vigor Plast India Limited operates primarily in the Indian market, competing with well-established companies like Captain Pipes Limited. Vigor Plast India Limited differentiates itself through a focus on high-quality uPVC and cPVC products, affordability, and reliable customer service. While it exports a portion of its products to Nepal, the core focus remains on strengthening its position in the Indian market, where it continues to grow and meet the evolving needs of the infrastructure and construction sectors.
Vigor Plast India Limited Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Revenue from operations (₹ crores) | 32.403 | 37.284 | 42.481 |
Profit Before Tax (₹ crores) | 0.452 | 0.348 | 4.130 |
Net profit / (loss) (₹ crores) | 0.302 | 0.299 | 2.929 |
EBITDA (₹ crores) | 2.887 | 3.079 | 7.553 |
EPS (₹) | 0.39 | 0.38 | 3.74 |
Vigor Plast India Limited Cash Flow
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax (₹crores) | 0.452 | 0.348 | 4.130 |
Net Cash from Operating Activities (₹ crores) | (0.749) | 4.582 | 1.960 |
Net Cash from Investing Activities (₹ crores) | (1.161) | (2.093) | (11.481) |
Net Cash from Financing Activities (₹ crores) | 1.919 | (2.265) | 9.293 |
Cash and Cash Equivalents (₹ crores) | 0.012 | 0.236 | 0.007 |
How To Check Allotment Status of Vigor Plast India Limited IPO?
You can check the allotment status of shares either on the website of the National Stock Exchange (NSE) or on the website of the registrar KFin Technologies Limited. To check the status on the NSE website:
- Visit the NSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is Vigor Plast India Limited
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the KFin Technologies Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Vigor Plast India Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
How to Apply for Vigor Plast India Ltd IPO?
To apply for this IPO:
- Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section
- Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for
- Step 3: Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange
- Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds
- Step 5: Approve Request: Your funds will be blocked once you approve the mandate request on your UPI
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Vigor Plast India Ltd IPO FAQs
What is the Vigor Plast India Limited IPO?
The Vigor Plast India Limited IPO has an issue size of up to 31,50,000 equity shares. The IPO opens for subscription on TBA and closes on TBA.
Who is the Registrar for Vigor Plast India Limited IPO?
KFin Technologies Limited is the registrar for this IPO.
Where can I read more about Vigor Plast India Limited business?
You may read more about Vigor Plast India Limited and its IPO from the company’s draft red herring prospectus (DRHP) here.
