Purv Flexipack IPO Review

 

Purv Flexipack, a leading player in the packaging industry, is set to launch its Initial Public Offering (IPO) on 27th February, with the bidding window open until 29th February.

Following the conclusion of the bidding phase, the company’s shares are scheduled to be listed on the NSE SME on March 5.

The primary objective of this IPO is to mobilize funds, with Purv Flexipack aiming to raise Rs 40.21 crore.

The price band for the IPO has been established at Rs 70 to Rs 71 per share, and the minimum lot size for bidding has been set at 1600 shares.

A total of 56.64 lakh new shares will be issued during this IPO.

Holani Consultants Pvt Ltd has been appointed as the book running lead manager, orchestrating the intricacies of the IPO, while Link Intime India Pvt Ltd will take on the role of the registrar.

Holani Consultants will act as the market maker during the process. The key promoters of Purv Flexipack include Rajiv Goenka, Poonam Goenka, and M/s Purva Logistics Pvt. Ltd.

Notably, a significant portion of the IPO has been reserved for various categories of investors.

Fifty percent of the shares are earmarked for qualified institutional buyers, while retail investors have a 35 percent share, and the remaining 15 percent is allocated for non-institutional investors. Currently, the promoters hold a substantial stake of 92.17% in the company.

Purv Flexipack, incorporated in 2005, specializes in the production of plastic products such as BOPP Film, Polyester Films, CPP Films, Plasticing Granules.

Additionally, the company supplies inks, adhesives, masterbatches, ethyl acetate, and titanium dioxide.

This diverse product portfolio allows the company to cater to various industry needs.

The company’s core business revolves around providing a wide range of packaging solutions to its clients.

As of September 30, 2023, Purv Flexipack reported a revenue of Rs 139.35 crore, demonstrating a robust financial performance.

The net profit during the same period amounted to Rs 4.3 crore, reflecting the company’s profitability and stability in the market.

With a well-structured IPO plan, experienced management, and a solid financial track record,

Purv Flexipack aims to capitalize on market opportunities and enhance its presence in the packaging sector.

Investors are eagerly anticipating the opening of the IPO, which is expected to be a significant milestone in the company’s growth journey.

Source:

https://zeep.ly/UjkGv

https://www.sharemarket.org.in/purv-flexipack-ipo-open-on-27th-february-check-details/