Astral Poly Technik IPO
Astral Poly Technik IPO — date, price band, lot size & details 2007
Astral Poly Technik listed on 20 Mar 2007 at ₹103, 10.4% below the ₹115 issue price.
Astral Poly Technik makes CPVC and PVC pipes and plumbing systems, and was the first Indian licensee of Noveon of the USA for CPVC pipes. Its total income was Rs 5,372.67 lacs in FY2006.
Stock price
Astral Poly Technik is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 14 Feb 2007
- Close 22 Feb 2007
- Allotment 09 Mar 2007
- Refund/credit TBA
- Listing 20 Mar 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 14 to 22 Feb, 2007 |
|---|---|
| Price Band | TBA |
| Face Value | ₹10 |
| Lot Size | 50 Shares |
| Issue Size | ₹34.17 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 5,750 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 50 shares at the ₹115 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 50 | ₹5,750 |
| Retail (max) | 34 | 1,700 | ₹1,95,500 |
| S-HNI (min) | 35 | 1,750 | ₹2,01,250 |
| S-HNI (max) | 173 | 8,650 | ₹9,94,750 |
| B-HNI (min) | 174 | 8,700 | ₹10,00,500 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 812.29 lacs in FY2002 to Rs 5,372.67 lacs in FY2006, and was Rs 6,740.37 lacs in nine months to December 2006.
- 02Net worth rose from Rs 771.35 lacs in FY2005 to Rs 2,552.42 lacs in December 2006.
- 03It was the first licensee of Noveon to make CPVC pipes in India, since 1999.
- 04Return on net worth was 22.64%.
Risks · 5
- 01It depended on Noveon of the USA for CPVC compound and licences, renewed in July 2006 for BlazeMaster.
- 02PVC and CPVC raw material prices follow crude oil, with 2 plants to feed.
- 03Its exports were small, only Rs 44.66 Lacs as on 31 December 2006.
- 04Plumbing pipes face competition from many PVC pipe makers; it had only 320 employees.
- 05Promoter holding fell from 86.74% before the issue to 63.81% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Astral Poly Technik offer document.
| Metric | 31 Dec 2006 | 31 Mar 2006 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|---|
| Assets | 66.22 | 45.93 | 27.09 | 18.94 |
| Total Income | 67.40 | 53.73 | 37.18 | 22.60 |
| Profit After Tax | 5.87 | 3.87 | 2.21 | 2.72 |
| NET Worth | 25.52 | 16.82 | 7.71 | 5.34 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Astral Poly Technik RHP.
Where the money goes
₹71.12 Cr of the issue is earmarked to named objects.
About the company
It has made and sold CPVC piping and plumbing systems in India since 1999, as the first licensee of Noveon, USA, formerly the specialty chemical division of B.F. Goodrich. Its techno-financial joint venture partner Specialty Process LLC of the USA provided the technical know-how.
Its plants were in Gujarat and Himachal Pradesh, and it had 320 employees as on 16 January 2007. In July 2006 it became Noveon's licensee for BlazeMaster fire sprinkler systems in India, and it launched lead free PVC pipes as Astral Aquarius.
The IPO was Rs 34.17 crore and was entirely a fresh issue at a fixed price of Rs 115.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Astral Poly Technik IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Karvy Investor Services Ltd
31 issues handledBest listing: Ramkrishna Forgings (+92.3%). Weakest: PSP Projects (-9.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Astral Poly Technik?
The current Grey Market Premium is ₹0.
What is the Astral Poly Technik IPO price band?
₹115, on a face value of ₹10.
When is the allotment?
The basis of allotment is 9 March 2007, with listing on 20 March 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
