Super Iron Foundry IPO - Day 3 Subscription at 0.57 Times
by
5paisa Research Team
13th Mar 2025
L.K. Mehta Polymers IPO - Day 3 Subscription at 9.08 Times
L.K. Mehta Polymers' initial public offering (IPO) has demonstrated exceptional investor interest throughout its three-day subscription period. The ₹7.38 crore IPO has witnessed remarkable growth in demand, with subscription rates progressing steadily from 5.63 times on day one, strengthening to 8.81 times on day two, and reaching an impressive 9.08 times by 10:04 AM on the final day, indicating robust investor confidence in this plastic products manufacturer.
L.K. Mehta Polymers IPO’s retail segment has shown particularly strong enthusiasm, with their portion being substantially oversubscribed at 12.35 times, demonstrating significant individual investor confidence in the company's business model and growth prospects. The Non-Institutional Investors (NII) have also shown substantial interest with 5.80 times subscription, reflecting broad-based investor participation across categories.
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L.K. Mehta Polymers IPO has garnered considerable attention from investors, with total applications reaching 6,775. The cumulative bid amount of ₹63.53 crores against the modest issue size of ₹7.38 crores underscores the strong investor appetite for this offering in the polymer manufacturing sector, despite the company's relatively small size and focused business model.
Subscription Status of L.K. Mehta Polymers IPO:
| Date | NII | Retail | Total |
| Day 1 (Feb 13) | 4.95 | 6.31 | 5.63 |
| Day 2 (Feb 14) | 5.74 | 11.87 | 8.81 |
| Day 3 (Feb 15) | 5.80 | 12.35 | 9.08 |
Here are the subscription details for L.K. Mehta Polymers IPO as of Day 3 (February 17, 2025, 10:04 AM):
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
| Anchor Investors | 1.00 | 54,400 | 54,400 | 0.39 |
| Non-Institutional Buyers | 5.80 | 4,92,800 | 28,59,200 | 20.30 |
| Retail Investors | 12.35 | 4,92,800 | 60,88,000 | 43.22 |
| Total | 9.08 | 9,85,601 | 89,47,200 | 63.53 |
Note:
- "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
- The portions of anchor investors and market maker are not included in the total shares offered.
L.K. Mehta Polymers IPO - Day 3 Subscription
Key Highlights:
- Overall subscription reaching an impressive 9.08 times demonstrating exceptional investor interest
- Retail portion showing remarkable oversubscription at 12.35 times, reflecting strong individual investor confidence
- NII segment maintaining robust participation at 5.80 times
- Total applications reaching 6,775, indicating broad-based retail interest
- Cumulative bid amount exceeding ₹63.53 crores against ₹7.38 crore issue size
- Strong retail momentum with bids worth ₹43.22 crores
- NII segment showing consistent strength with ₹20.30 crores in bids
- Final day witnessing continued subscription growth
- All investor categories maintaining strong participation
- Market response indicating high confidence in business model
- Subscription reflecting positive sentiment for SME sector
- Total oversubscription demonstrating strong investor appetite
- Balanced participation across investor categories
- Small issue size attracting focused investor interest
L.K. Mehta Polymers IPO - Day 2 Subscription at 8.81 Times
Key Highlights:
- Overall subscription strengthening to 8.81 times showing accelerated interest
- Retail investors demonstrating growing confidence at 11.87 times
- NII segment showing steady improvement to 5.74 times
- Day two maintaining strong momentum across categories
- Market response indicating growing investor confidence
- Subscription trends showing robust demand
- All segments demonstrating consistent growth
- Strong retail participation continuing
- NII segment maintaining steady interest
- Second day building on strong opening momentum
- Investor interest reflecting sector potential
- Subscription pattern indicating successful offering
- Small issue size facilitating quick subscription
- Market sentiment remaining positive
L.K. Mehta Polymers IPO - Day 1 Subscription at 5.63 Times
Key Highlights:
- Overall subscription opening strongly at 5.63 times
- Retail investors beginning impressively at 6.31 times
- NII segment showing strong start at 4.95 times
- Opening day demonstrating exceptional response
- Initial momentum indicating strong market confidence
- Early subscription reflecting positive investor sentiment
- First day setting strong foundation
- Market response suggesting healthy demand
- Initial applications showing broad interest
- Day one establishing positive tone
- Strong start indicating successful offering
- Opening momentum building rapidly
- Early response exceeding expectations
- First day indicating high investor appetite
About L.K. Mehta Polymers Limited
L.K. Mehta Polymers Limited, established in 1995, has developed into a specialized manufacturer and trader of plastic products, with particular focus on ropes and twines. The company operates in both manufacturing and trading segments, processing basic raw materials like polypropylene and polyethylene granules under their brand name "Super Pack", serving diverse industrial and agricultural sectors.
Their business model combines manufacturing expertise with trading operations, offering products ranging from monofilament ropes and danline ropes to baler twines and packaging materials. Their product portfolio serves critical sectors including agriculture, transportation, shipping, mining, and heavy machinery transport, with a strong emphasis on quality control and timely delivery.
Their financial performance shows steady growth with revenue increasing from ₹17.14 crores in FY2023 to ₹18.87 crores in FY2024. For the nine months ended December 31, 2024, the company reported revenue of ₹11.98 crores with a PAT of ₹0.42 crores, demonstrating consistent operational performance in the polymer manufacturing sector.
Their competitive strengths include:
- Experienced promoters with generational expertise
- Strong quality control systems
- High customer satisfaction levels
- Established client relationships
- Diverse product portfolio
- Efficient delivery systems
- Strategic market positioning
- Quality-focused approach
- Comprehensive product range
- Strong brand recognition
Highlights of the L.K. Mehta Polymers IPO:
- IPO type: Fixed Price Issue IPO
- IPO size: ₹7.38 crores
- Fresh Issue: 10.40 lakh shares
- Face value: ₹10 per share
- Issue price: ₹71 per share
- Lot size: 1,600 shares
- Minimum investment for retail investors: ₹1,13,600
- Minimum investment for HNI: ₹2,27,200 (2 lots)
- Market maker reservation: 54,400 shares
- Listing at: BSE SME
- IPO opens: February 13, 2025
- IPO closes: February 17, 2025
- Allotment date: February 18, 2025
- Refund initiation: February 19, 2025
- Credit of shares: February 20, 2025
- Listing date: February 21, 2025
- Lead Manager: Swastika Investmart Ltd
- Registrar: Bigshare Services Pvt Ltd
- Market Maker: Swastika Investmart Limited
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