Silkflex Polymers debuts with 15% premium on NSE SME platform

The , which was completely a fresh equity issue of 34.82 lakh shares, was booked 39 times at close on decent interest from retail investors.

The company is engaged in the trading of and water-based of a Malaysian-based brand produced by Silkflex Polymers.

Funds raised from the IPO will be used for the acquisition of land, funding of capital expenditure, working capital requirements and other general corporate purposes.

is one of the in the country. Silkflex Malaysia manufactures its products through its manufacturing unit located in Malaysia and the same products are then supplied around the globe through its authorised agents.

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The list of countries where Silkflex Malaysia supplies the products includes India, Thailand, Turkey, Russia, Sri Lanka, Bangladesh and Indonesia.

As of this date of the prospectus, the company has the right to sell the products of Silkflex and the right to use the brand name.

India’s textile sector is one of the oldest industries in the Indian economy, dating back to several centuries. The industry is extremely varied, with hand-spun and hand-woven textiles sectors at one end of the spectrum, with the capital-intensive sophisticated mills sector at the other end.

are generally created by combining various layers of shellac, drying oil, lacquer, varnish, etc. where every layer is followed by sanding. Whereas, on the contrary, waterborne wood coatings are made from a wide range of resins which include acrylic, polyester, polyurethane, fluoropolymer, waterborne powder, etc.

For the period ended December 2023, the company clocked a revenue of Rs 33.81 crore and the profit after tax stood at Rs 2.56 crore.