Sylvan Plyboard IPO price band set at ₹55 per share; issue to open on June 24

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₹28 crore. Sylvan Plyboard IPO will open for subscription on Monday, June 24, and close on Wednesday, June 26.Sylvan Plyboard IPO price band has been fixed at 55 per share.

The company plans to raise ₹28.05 crore from the fixed price issue which is entirely a fresh issue of 51 lakh equity shares.Sylvan Plyboard IPO allotment is expected to be finalized on June 27, while the IPO listing date is July 1. The equity shares of Sylvan Plyboard will be listed on NSE SME.Also Read: Petro Carbon and Chemicals IPO to open on June 25; price band fixed at ₹162-171 apieceThe IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹110,000.

The company intends to utilise the issue proceeds for funding capital expenditure towards the purchase of additional plant and machinery, meet the working capital requirements and general corporate purposes.Finshore Management Services is the book running lead manager of the Sylvan Plyboard IPO, while Bigshare Services Pvt Ltd is the IPO registrar.Also Read: Dee Development Engineers IPO: GMP, review, subscription status, other details. Apply or not?Singh Suppliers Private Limited, Anand Kumar Singh, Jai Prakash Singh, Shakuntala Singh and Kalyani Singh are the promoters of Sylvan Plyboard (India) Ltd.The promoter shareholding in the company will come down to 71.23% after the IPO from 99.8% at present.Sylvan Plyboard reported a net profit of ₹3.52 crore and a revenue of ₹199.15 crore in FY23.