Polysil Irrigation Systems Limited

About the company

## **About  Polysil Irrigation Systems Limited** Incorporated in 1985 Polysil Irrigation Systems Limited is a fully integrated player within the drip irrigation and sprinkler irrigation sectors, with presence in the microin micro irrigation industry. The products are reckoned to meet high quality standards and their brand is associated with providing value based irrigation solutions to their end customers and are subject to BIS standards. The companycCompany is engaged in manufacturing and sale of HDPE pipes, fittings and micro irrigation systems, such as drip irrigation system and sprinkler irrigation system, its components,accessories and allied products. The products are sold They sell their products through institutionsinstitution and open markets and open market sales. Under the open market sale, they sell their products through distributors and dealers, who then resell the products to customers i.e. farmers. As of July 31, 2023, they sell their we sold our products through 8 distributors and around 425 dealers in India. TheirOur end customers are eligible to receive government subsidy, the process for disbursal of such subsidy is managed by our distributor / dealers and/or our customers. TheyWe operate in the state of Gujarat, Tamil Nadu,Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. The companyCompany is engaged in manufacturing and sale of micro irrigation systems, consisting of drip irrigation system and sprinkler irrigation systems, its components, accessories, including irrigation accessories and allied products. Drip irrigation systems are used primarily for irrigating new crops such as vegetables, flowers, fruits, plantation cropscrop , etc. Their micro irrigation systems (MIS) business is dependent upon the subsidy provided by the government (Central and State), which makes our business working capital intensive. The subsidy portion is about 50% to 70% of the approved cost of MIS. The farmer who purchases the MIS bears 30% - 50% of the cost and pays the same to our dealer/distributor. As Polysil Irrigation Systems Limited gears up for its Initial Public Offering (IPO), the generated proceeds from the Fresh Issue will be strategically allocated to crucial objectives. 1. Funding our Working Capital Requirements; and 1. General Corporate Purpose Here are key details about the Polysil Irrigation Systems Limited IPO: Company Name| **Polysil Irrigation Systems Limited**|  | Polysil Irrigation Systems Limited IPO Opening Date| **February 8, 2024** ---|---|---|---|--- Company Established On|**1985**Polysil Irrigation Systems Limited IPO Price band|**₹109 to ₹115 per share**

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   08 Feb 2024

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   13 Feb 2024

   Last day to place your bid

3. Basis of Allotment

   Completed
   10 Feb 2024

   Share allotment finalised

4. Refund Initiation

   Completed
   15 Feb 2024

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   14 Feb 2024

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   16 Feb 2024

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.