Listing of Silkflex Polymers (India) Ltd. on NSE (SME) Celebrated in Style’
30 May 2024: The Milestone was Marked with a Function held on May 15, 2024 at Marriott, Sindhu Bhavan Road, Ahmedabad, Gujarat where the Presence of Dignitaries from across the Globe Enhanced the Triumph.
When the milestone is memorable, the ceremony commemorating it has to be conducted with the panache that reflects the accomplishment. The listing of Silkflex Polymers (India) Ltd. on the National Stock Exchange (SME) was marked with a truly impressive function held on May 15, 2024 at Marriott, Sindhu Bhavan Road, Ahmedabad, Gujarat. Dignitaries from across the globe were present, further enhancing the festive ambience and underlying sense of triumph.
The company, formerly known as Silkflex Polymers (India) (P) Ltd. was started in the year 2008 by the father-son duo of late Lalit Kumar Sanghavi and his son Tushar who has taken the legacy forward. The Silkflex Polymers (India) Ltd. IPO is a fixed price issue of Rs 18.11 crores. It is entirely a fresh issue of 34.82 lakh shares.
The function started with the National Anthem. Following that, Hardik Patel, Independent Director, Silkflex Polymers (India) Ltd., welcomed the guests and presented a flower bouquet to Dr. Eric Tan, Director, Silkflex Polymers Sdn. Bhd. Malaysia; Parth Shah, Director, Shreni Shares Ltd.; Rajubhai Shah, Managing Director, Shree Vallabh Chemical and Tushar Sanghavi, Chairman and Managing Director, Silkflex Polymers (India) Ltd.
Following the Indian tradition, all Dignitaries were invited for lighting the lamp to ensure an auspicious beginning to the new chapter in the journey of Silkflex Polymers (India) Ltd. as it accelerates forward along the path to progress and highlights its ‘Make in India’ initiative goal.
At 10.00 am, a representative but noteworthy ceremonial step, marking the company getting listed on NSE took place with Tushar Sanghavi’s mother ringing the bell, making the moment a truly emotional one, signifying the importance of parents and their blessings in driving business growth.
Addressing those gathered, Tushar Sanghavi, said, “It is a memorable occasion, a dream come true for me and it has only been possible with well-wishes of my parents. As my father is not alive, I wanted to share this happiness with my mother, well-wishers, family and business friends. This journey was possible with the hard work combined with team work and marketing skills along with the excellent quality products manufactured by our Principals. Today, we are offering 108 textile printing ink products and 51 wood coating polymer products imported from Silkflex Polymers Sdn. Bhd. Malaysia. But in coming days, we plan to start manufacturing textile inks & speciality chemicals in India at Baroda (Gujarat) at an ultra-modern, state-of-the-art manufacturing plant, where we will be manufacturing eco-friendly products for the Indian market. It was my father’s legacy, his dream and that is coming alive today. It is a great matter of joy for us as our IPO was oversubscribed 38 times, showing the confidence of the industry, business community and investors in the vision and strong fundamentals of the company.”
Parth Shah, Director, Shreni Shares Ltd., said, “This is the 38th Listing of a company by us. We have worked as a team and are very much happy to see that IPO has sailed smoothly. SME listing on NSE has helped many upcoming and dynamic SME companies to start their journey successfully.”
Rajubhai Shah, Mananging Director, Shree Vallabh Chemical, said, “I know Tushar from the last 35 years and I have seen his hard work, vision and ethics. From the last 8 years they are distributors of Silkflex Polymers Sdn. Bhd. Malaysia, and getting IPO 38 times oversubscribed is a great achievement, indicating perfect planning and team work in implementation. We have together visited Malaysia many times and interacted with Dr. Erik Tan. I am impressed with his technical knowledge and vision for the company. I am very much positive about the exciting days for Silkflex India ahead.”
Dr. Eric Tan, Director, Silkflex Polymers Sdn. Bhd. Malaysia, said “The Silkflex brand is today well known globally and Silkflex Polymers India has shown great dynamic resilience and catapulted itself among the top players in India in the segment. We are poised for further growth by entering into the wood coating market to offer eco-friendly products and reduce pollution in this segment. All our products are manufactured in a sustainable, eco-friendly process and all global or major brands are using our textile inks. We aim to detoxify the current coating industry in coming years and this public listing (IPO) has written a new chapter in the Silkflex journey.
Dahyalal of Adidhan Ventures, said “We were working with Silkflex Polymers India from the last 3 years and during this time we have passed through many ups and downs. We again started the work in August 2023 as Silkflex Polymers India decided to start a manufacturing plant in India for textile inks and speciality products.”
Mementos were presented to the Lead Managers, PNB Bank, NSDL Team and Silkflex Branch Managers of Tirupur, Mumbai, Ludhiana and Jodhpur.
Delivering the Vote of Thanks, Urmi Mehta, CFO and Wholetime Director, Silkflex Polymers (India) Ltd., said, “I have seen the vision and hard work as well as enthusiasm in my father’s eyes over the years. Today, we are all happy to see the fruit of those efforts while moving forward on the path to progress. It is a great achievement. They say the journey of thousand steps starts with a single step. We at ‘Team Silkflex’ are looking forward to exciting times ahead.”
Origins and Evolution Story …
Incorporated on May 13, 2016, Silkflex Polymers (India) Limited trades textile printing inks and water-based wood coating polymers produced by Silkflex Polymers SDN BHD, a Malaysian brand. The registered office of the company is situated in the state of West Bengal. Additionally, the company has 5 branch offices across India, with one in each of the following states: Gujarat, Maharashtra, Tamilnadu, Rajasthan and Punjab.
Silkflex Polymers Sdn. Bhd. Malaysia is the leading manufacturer of garment printing ink in Malaysia. With a state-of-the-art thermal reactor, they have a capacity of 1,000 MT per month. Unlike other suppliers, their inks are manufactured and formulated in-house, from the polymer/resin right up to the final ink. Since the performance of the ink is almost completely depended on the properties of the polymers/resin, they are able to design and tailor-make polymers/inks for specific application and effect.
Silkflex Polymers Sdn. Bhd. is in the list of nominated suppliers for PUMA, C&A and H&M and is currently used by all major brands of apparel in the world including the recent expansion into European countries like Portugal, Turkey and Spain.
The company has also introduced fully water-based wood coating products in the brand name of Silkflex Wood Coating, which is the leader in the technology segment where extremely hard finishes can be achieved rapidly in a low VOC formulation. It is currently being used by the largest brands of furniture worldwide and in some of the most prestigious buildings. Silkflex Wood Coating can be used effectively and without compromise to replace traditional solvent – based wood lacquers as eco-friendly wood coatings..
www.silkflexindia.in
