The IPO has a minimum application size of 1,600 shares. This translates to a retail investment ticket of Rs 2.3 lakh, which is higher than many other SME IPOs.
Analysts note that grey market activity has been muted so far, with premiums hovering around 3%, suggesting expectations of a modest listing.
Business profile
Founded in 2013, Solvex Edibles manufactures solvent-extracted rice bran oil and a range of by-products including de-oiled cakes from rice bran and mustard. These products are widely used in cattle, poultry, and fish feed industries, while crude rice bran oil is sold to refineries for processing into packaged edible oils.
The company’s facility in Kemri, Bilaspur, Uttar Pradesh, has a capacity of 200 tonnes per day and covers 12,140 sq metres. With easy access to raw material in the surrounding areas, Solvex has been able to build a steady supply network. Its products are sold to FMCG companies and feed manufacturers across 18 Indian states.
Financials
Solvex has reported strong growth in recent years. Revenue nearly doubled in FY25 to Rs 136.5 crore from Rs 71.9 crore in FY24. Profit after tax more than quadrupled to Rs 4.1 crore from Rs 1 crore a year earlier.
Objects of the issue
The company plans to use Rs 8.3 crore from the proceeds to acquire new plant and machinery at its existing unit. Another Rs 5.9 crore will go towards partial repayment of borrowings, with the balance earmarked for general corporate purposes.
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