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29 July 2024

Bulkcorp International Limited IPO

Bulkcorp International Limited is engaged in the manufacturing and supply of Food Grade Flexible Intermediate Bulk Container (“FIBC'') bags. Their manufacturing facility meets the requirements set out in BRC Global Standard for Packing and Packaging Materials and has achieved certified Grade A. They offer a wide range of customizable packaging solutions FIBC bags (Jumbo Bags) which come in eight variations and container liners. Their manufacturing facility at Changodar, Ahmedabad is equipped with the required facilities including machinery and other handling equipment to facilitate a smooth manufacturing process.

They endeavour to maintain safety and high hygiene on their premises by adhering to key safety and hygiene norms specified by BRC. Bulkcorp IPO is a book-built issue of Rs 20.78 crores. The issue is entirely a fresh issue of 19.79 lakh shares. Bulkcorp IPO opens for subscription on July 30, 2024 and closes on August 1, 2024. Bulkcorp's IPO price band is set at ₹100 to ₹105 per share. The minimum lot size for an application is 1200 Shares. Swastika Investmart Ltd is the book-running lead manager of the Bulkcorp IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Bulkcorp IPO is Sunflower Broking.

Bulkcorp IPO Overview

Detail	Description
IPO Date	July 30, 2024 to August 1, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹100 to ₹105 per share
Lot Size	1200 Shares
Total Issue Size	1,978,800 shares (aggregating up to ₹20.78 Cr)
Fresh Issue	1,978,800 shares (aggregating up to ₹20.78 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre issue	5,535,264
Shareholding post issue	7,514,064
Market Maker portion	99,600 shares Sunflower Broking

Bulkcorp IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Tuesday, July 30, 2024
IPO Close Date	Thursday, August 1, 2024
Basis of Allotment	Friday, August 2, 2024
Initiation of Refunds	Monday, August 5, 2024
Credit of Shares to Demat	Monday, August 5, 2024
Listing Date	Tuesday, August 6, 2024
Cut-off time for UPI mandate confirmation	5 PM on August 1, 2024

Bulkcorp IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1200	₹126,000
Retail (Max)	1	1200	₹126,000
HNI (Min)	2	2,400	₹252,000

Bulkcorp IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Bulkcorp IPO Promoter Holding

Share Holding Pre Issue	98.10%
Share Holding Post Issue	72.26%

Bulkcorp IPO Anchor Investors Details

Bid Date	July 29, 2024
Shares Offered	938,400
Anchor Portion Size (In Cr.)	9.85
Anchor lock-in period end date for 50% shares (30 Days)	September 1, 2024
Anchor lock-in period end date for remaining shares (90 Days)	October 31, 2024

Company & Financials

Founded in 2009, Bulkcorp International Limited produces and distributes Food-Grade Flexible Intermediate Bulk Container (FIBC) bags. The company provides a variety of customizable packaging solutions, such as eight variations of FIBC bags (Jumbo Bags) and container liners. The company's manufacturing unit in Changodar, Ahmedabad meets the BRC Global Standard for Packing and Packaging Materials and has achieved Grade A certification. The company is certified with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, as well as BRC certification. The company's products are supplied to industries such as agriculture, chemicals, construction, food, pharmaceuticals, and mining. The company has exported its product to countries such as the United States of America, Canada, the United Kingdom, South Africa, Ivory Coast, South Korea, Spain, Europe, Egypt etc.

Bulkcorp International Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	3,236.39	1,765.18	2,177.10	1,975.97
Revenue	4,650.45	3,895.71	4,919.90	3,176.36
Profit After Tax	355.90	121.22	172.56	63.53
Net Worth	934.06	478.16	356.95	188.26
Reserves and Surplus	380.54	297.16	175.95	7.26
Total Borrowing	634.23	542.28	889.24	648.89
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	50.40%
ROCE	40.25%
Debt/Equity	0.68
RoNW	38.10%
P/BV	6.22
PAT Margin (%)	7.88

	Pre IPO	Post IPO
EPS (Rs)	6.43	4.74
P/E (x)	16.33	22.17

Objectives of Bulkcorp IPO

The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:

● Capital Expenditure
● To Meet Working Capital Requirements
● General Corporate Purpose

Bulkcorp International IPO Review

Though the company is operating in a highly competitive and fragmented segment, it has created a niche place and has made a major contribution to the high-margin export business. Based on FY24 earnings, the issue appears fully priced. Investors may park funds for long-term rewards.

FAQs for Bulkcorp International IPO

What is Bulkcorp International IPO?

Bulkcorp International IPO is an NSE SME IPO. They are going to raise ₹20.78 Crores via IPO. The issue is priced at ₹₹100 to ₹105 per equity share. The IPO is to be listed on NSE.
When will Bulkcorp International IPO open?

The IPO is to open on July 30, 2024, for QIB, NII, and Retail Investors.
What is Bulkcorp International IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Bulkcorp International's IPO Size?

Bulkcorp International's IPO size is ₹20.78 crores.
What is Bulkcorp International IPO Price Band?

Bulkcorp International's IPO Price Band is ₹100 to ₹105 per equity share.
What is Bulkcorp International IPO Minimum and Maximum Lot Size?

The IPO bid is 1200 shares with ₹126,000.
What is the Bulkcorp International IPO Allotment Date?

Bulkcorp International's IPO allotment date is August 2, 2024.
What is Bulkcorp International's IPO Listing Date?

Bulkcorp International's IPO listing date is August 6, 2024. The IPO to list on NSE SME.