Solvex Edibles Launches Rs 18.87 Crore IPO on BSE SME Platform
Solvex Edibles, a Uttar Pradesh-based edible oil manufacturer, is set to open its IPO on September 22, aiming to raise Rs 18.87 crore. The company will issue 26.2 lakh fresh shares at Rs 72 per share. The IPO will close on September 24, with listing scheduled for September 29 on BSE SME. Solvex, founded in 2013, specializes in solvent-extracted rice bran oil and by-products. The company's revenue grew from Rs 71.90 crore to Rs 136.50 crore between FY24 and FY25. IPO proceeds will be used for new plant and machinery, debt repayment, and general corporate purposes. The grey market premium is currently around 3%.
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Solvex Edibles, a Uttar Pradesh-based manufacturer of edible oil and by-products, is set to open its Initial Public Offering (IPO) on September 22. The company aims to raise Rs 18.87 crore through the issuance of 26.2 lakh fresh shares priced at Rs 72 per share.
IPO Details
| Parameter | Value |
|---|---|
| Opening Date | September 22 |
| Closing Date | September 24 |
| Listing Date | September 29 |
| Listing Platform | BSE SME |
| Issue Size | Rs 18.87 crore |
| Fresh Shares | 26.2 lakh |
| Price per Share | Rs 72 |
| Minimum Application | 1,600 shares (Rs 1.15 lakh) |
Company Overview
Founded in 2013, Solvex Edibles specializes in manufacturing solvent-extracted rice bran oil and by-products. The company's products find applications in cattle, poultry, and fish feed industries. Solvex operates a facility in Kemri, Bilaspur, with a daily production capacity of 200 tonnes.
Financial Performance
The company has demonstrated strong financial growth:
| Metric | FY24 | FY25 |
|---|---|---|
| Revenue | Rs 71.90 crore | Rs 136.50 crore |
| Profit After Tax | Rs 1.00 crore | Rs 4.10 crore |
Utilization of IPO Proceeds
Solvex Edibles plans to allocate the funds raised through the IPO as follows:
- Rs 8.3 crore for new plant and machinery
- Rs 5.9 crore for debt repayment
- The remaining amount for general corporate purposes
Market Sentiment
The grey market premium for Solvex Edibles' shares is currently around 3%, suggesting modest expectations for the listing.
Investors interested in the SME sector and the edible oil industry may find this IPO an opportunity to consider. However, as with all investments, it is advisable to thoroughly research and understand the risks associated with SME stocks before making any investment decisions.
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