Ajay Poly Ltd. IPO Details
Ajay Poly was incorporated on June 3, 1980. The company is one of India's leading manufacturers of refrigeration sealing solutions, profile extrusion, and glass products for the appliance industry, based on market share in FY24. It specializes in toughened glass, polymer extrusion products, magnet powders, and magnetic products
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 9.3 M | - | - | ₹2,380.0 M | DRHP DOC |
Ajay Poly issue details
Ajay Poly has 9.3 M shares on offer
Ajay Poly IPO issue size is ₹ 2,380.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Ajay Poly IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Ajay Poly NUMBER OF SHARES ON OFFER
Ajay Poly FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY25 | 122.9 | 1,301.3 | 83.7 | -21.3 | 17.4% |
| Q1FY24 | 76.3 | 873.6 | 9.9 | -49.2 | 15.2% |
| FY24 | 224.1 | 3,644.2 | 200.8 | -140.0 | 13.4% |
| FY23 | 128.3 | 2,404.9 | -14.7 | -341.2 | 8.9% |
| FY22 | 33.9 | 1,416.8 | -36.9 | -106.0 | 7.5% |
Ajay Poly INFORMATION ON IPO ISSUE
About Ajay Poly
Ajay Poly was incorporated on June 3, 1980. The company is one of India's leading manufacturers of refrigeration sealing solutions, profile extrusion, and glass products for the appliance industry, based on market share in FY24. It specializes in toughened glass, polymer extrusion products, magnet powders, and magnetic products
Object of the Issue
- Repayment/ prepayment, in full or part, of certain borrowings availed by the company
- Funding capital expenditure requirements towards purchase of equipment, plant and machinery at, Noida Unit-IV, Noida Unit-V, Karegaon Unit, Shirwal Unit, Chennai Unit, and its registered and corporate office
- General corporate purposes
Ajay Poly - PROMOTERS
| Name |
|---|
| Rajeev Jain |
| Bina Jain |
| Nitin Jain |
Ajay Poly Book Running Lead Manager
Motilal Oswal Investment Advisors Limited
ajaypoly.ipo@motilaloswal.com
SBI Capital Markets Limited
ajaypoly.ipo@sbicaps.com
Ajay Poly Registrar to the Offer
KFin Technologies Limited
apl.ipo@kfintech.com
Ajay Poly Strengths
Long standing relationships
As of November 30, 2024, the company served 46 customers, primarily appliance manufacturers (both multinational and Indian). It collaborates on design and development, serving sectors like consumer durables, commercial refrigeration, and automotive
Backward integration and in-house capabilities
To enhance control over its supply chain and improve margins, the company has strengthened its manufacturing process through backward integration, enabling the production of critical raw materials and components in-house
Market leader
The company is a leading manufacturer in India's appliance industry, with significant market shares in FY24: 61% in refrigeration sealing solutions, 25.2% in rigid profile extrusion, 45.9% in total profile extrusion, 31.3% in glass shelves, and 15.4% in overall glass products
Ajay Poly Risks
Depend on toughened glass and polymer extrusion business
The company relies heavily on toughened glass and polymer extrusion for a significant portion of its revenue. Failure to diversify its product portfolio or a reduction in orders for these products could negatively impact its business, operations, and financial condition
Dependent on third party suppliers for raw material
The company's business and profitability depend heavily on the availability and cost of raw materials, sourced from third-party suppliers on a purchase order basis. Disruptions in supply or price volatility could negatively affect its business, operations, and financial condition
Competition
The company faces competition from both national and local players. Inability to compete effectively could adversely affect its business, operations, and financial condition
IPO FAQs
The promoters of the company are Rajeev Jain, Bina Jain and Nitin Jain.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.