Lamosaic India Limited...
14 Nov 2024
Purv Flexipack Limited IPO
Purv Flexipack Ltd. is a one-stop solution for all flexible packaging needs, thus bringing significant value to our customers by providing high-quality products & services at competitive prices. The company has been involved in the trading and stockpiling of various flexible packaging materials and related products. This includes materials like BOPP (Biaxially Oriented Polypropylene), Polyester, LDPE (Low-Density Polyethylene), as well as adhesive, ink, ethyl, master batches, and granules. Purv Flexipack IPO is a book-built issue of Rs 40.21 crores.
The issue is entirely a fresh issue of 56.64 lakh shares. Purv Flexipack IPO price band is set at ₹70 to ₹71 per share. The minimum lot size for an application is 1600 Shares. Holani Consultants Private Limited is the book running lead manager of the Purv Flexipack IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for the Purv Flexipack IPO is Holani Consultants.
Purv Flexipack IPO Overview
| Detail | Description |
|---|---|
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | March 5, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹70 to ₹71 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,664,000 shares (aggregating up to ₹40.21 Cr) |
| Fresh Issue | 5,664,000 shares (aggregating up to ₹40.21 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 15,318,950 |
| Share holding post issue | 20,982,950 |
| Market Maker portion | 348,800 shares |
Purv Flexipack IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, February 27, 2024 |
| IPO Close Date | Thursday, February 29, 2024 |
| Basis of Allotment | Friday, March 1, 2024 |
| Initiation of Refunds | Monday, March 4, 2024 |
| Credit of Shares to Demat | Monday, March 4, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 29, 2024 |
Purv Flexipack IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹113,600 |
| Retail (Max) | 1 | 1600 | ₹113,600 |
| HNI (Min) | 2 | 3,200 | ₹227,200 |
Purv Flexipack IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,516,800 (26.78%) |
| Market Maker Shares Offered | 348,800 (6.16%) |
| QIB Shares Offered | 1,052,800 (18.59%) |
| NII (HNI) Shares Offered | 844,800 (14.92%) |
| Retail Shares Offered | 1,900,800 (33.56%) |
| Total Shares Offered | 5,664,000 (100%) |
Purv Flexipack IPO Promoter Holding
| Share Holding Pre Issue | 92.17% |
| Share Holding Post Issue |
Purv Flexipack IPO Anchor Investors Details
| Bid Date | February 26, 2024 |
| Shares Offered | 1,516,800 |
| Anchor Portion Size (In Cr.) | 10.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 30, 2024 |
Company & Financials
The company was incorporated in 2005, Purv Flexipack Limited distributes plastic products, including BOPP film, Polyester Films, CPP films, Plastic granules, Inks, Adhesives, Masterbatches, Ethyl Acetate, and Titanium Dioxide. The product portfolio of the company comprises Plastic Granules, Biaxially oriented polypropylene (BOPP) Films, HS BOPP, Matt BOPP, Glossy / Plain / Printing Grade BOPP, Tape and Textile BOPP, Pearlized, BOPP, Polyester Films, Cast Polypropylene (CPP) FilmsStarting in 2017, our company expanded its services by becoming a del cred agent of IOCL (Indian Oil Corporation Limited) for the supply of plastic granules in Kolkata & the surrounding regions. This expansion indicates a diversification of our product offerings and potentially a strategic partnership with a major player in the industry.
Purv Flexipack Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 28,315.64 | 25,852.83 | 18,146.73 | 15,417.62 | ||||||||||||||||||||||||||||||||||||
| Revenue | 13,935.79 | 34,107.83 | 22,943.81 | 13,780.26 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 430.13 | 826.13 | 626.73 | 567.50 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 8,152.42 | 7,619.22 | 6,793.09 | 5,898.36 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 6,740.54 | 6,207.34 | 5,381.21 | 4,486.48 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 15,013.96 | 12,350.98 | 8,340.10 | 7,077.77 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 11.46% |
| ROCE | 18.50% |
| Debt/Equity | 1.62 |
| RoNW | 10.84% |
| P/BV | 1.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.39 | 4.1 |
| P/E (x) | 13.17 | 17.32 |
Objectives of Purv Flexipack IPO
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objectives:
- ● Repayment of existing borrowings availed by the company from scheduled commercial banks.
- ● Funding working capital requirements; and
- ● General corporate purposes.
Purv Flexipack IPO Review
The company is a flagship company of Purv group that has one listed company i.e. Cool Caps and PFL hold around 62% equity in this subsidiary. The company has posted growth in its top and bottom lines for the reported periods. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may lap it up for the medium to long term rewards.
FAQs for Purv Flexipack IPO
-
What Is The Size Of The Purv Flexipack IPO?
Purv Flexipack IPO consists of a fresh issue of 56,64,000 shares. The company seeks funds for repaying bank loans, funding working capital, and general corporate purposes.
-
What Is The Listing Date Of The Purv Flexipack IPO?
The listing date of the Purv Flexipack IPO is March 5, 2024.
-
When will Purv Flexipack Limited’s IPO be allotted?
The Basis of Allotment will be done on March 01, 2024.
-
When will Purv Flexipack Limited’s IPO open for subscription?
The IPO subscription window will be open from February 27, 2024, to February 29, 2024.
-
When will Purv Flexipack Limited list on exchanges?
Purv Flexipack Limited IPO will be listed on NSE Emerge.
Purv Flexipack IPO Subscription Status
Category
Subscription (times)
QIB
157.32
NII
690.72
Retail
448.73
Total
421.78
RHP:
RHP of Purv Flexipack Limited IPO
Anchor Investor Link:
Anchor Investor Link of Purv Flexipack Limited IPO
-
What Is The Size Of The Purv Flexipack IPO?
Purv Flexipack IPO consists of a fresh issue of 56,64,000 shares. The company seeks funds for repaying bank loans, funding working capital, and general corporate purposes.
-
What Is The Listing Date Of The Purv Flexipack IPO?
The listing date of the Purv Flexipack IPO is March 5, 2024.
-
When will Purv Flexipack Limited’s IPO be allotted?
The Basis of Allotment will be done on March 01, 2024.
-
When will Purv Flexipack Limited’s IPO open for subscription?
The IPO subscription window will be open from February 27, 2024, to February 29, 2024.
-
When will Purv Flexipack Limited list on exchanges?
Purv Flexipack Limited IPO will be listed on NSE Emerge.
Purv Flexipack IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 157.32 |
| NII | 690.72 |
| Retail | 448.73 |
| Total | 421.78 |
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