Polysil Irrigation Systems Ltd Share Price

(POLYSIL)

Polysil Irrigation Systems Ltd was originally incorporated as a Private Company in the name and style of Silvassa PolyTex Industries India Private Limited vide Certificate of Incorporation dated October 09 1985 issued by the Registrar of Companies Maharashtra. Subsequently the name of Company changed to Silvassa Pipes Private Limited dated July 11 1996 and further to Polysil Irrigation Systems Private Limited dated January 03 2011. The Company was then converted into a Public Company and consequently upon conversion to Public Limited the name changed to Polysil Irrigation Systems Limited vide a fresh Certificate of Incorporation dated December 27 2022 issued by the Registrar of Companies Ahmedabad. As a manufacturer and seller of drip and sprinkler irrigation system Companys product range includes HDPE Pipes pipe fittings and irrigation equipments including disc filters screen filters hydrocyclone filters sand filters gravel compression fittings valves electrical and mechanicals fertilizer tanks Digital Controllers Pressure Gauges etc used in agriculture and horticulture sector. It sell these products under Polysil brand. Presently the Company is engaged in manufacturing and sale of HDPE Pipes Fittings and micro irrigation systems consisting of drip irrigation system and sprinkler irrigation system its components irrigation accessories and allied products. Drip irrigation systems are used for irrigating new crops such as vegetables flowers fruits plantation crop etc. while the sprinkler irrigation system is used for irrigating broadcast crops such as cereals oil seeds etc.Apart from these the Company sell products through institution markets and open market sale. Under the open market sale it sell products through channel partners distributors and dealers who then resell the products to customers i.e. farmers in the State of Maharashtra Madhya Pradesh and Rajasthan. In the Institution Market it get work orders directly from nodal agencies of various state governments after loan tie ups/Contribution by farmers and determination of subsidy eligibility by the nodal agencies. Thereafter it sell products which is categorised as project market sale.In the Open Market the Company access direct and indirect sales channels for marketing products. Under direct sales marketing team approach directly to large end users whereas under indirect sales channel it has dealers and distributors for marketing products. In 201819 the Scheme of Arrangement for Demerger of HDPE Pipes Division of Polysil Irrigation Systems Limited the Demerged Company into Tufropes Private Limited TPL/ the Resulting Company was made effective from December 01 2017.The Company is proposing Public Offer aggregating 3229000 Equity Shares comprising 1444000 Fresh Issue Equity Shares and 1785000 Equity Shares Offer for Sale..

Listing date: 16 Feb, 2024