20-Feb-2024
2 mins read
Purv Flexipack Limited IPO 2024 is open for subscription from Tuesday, February 27, 2024 and will close on Thursday, February 29, 2024. The price band is decided at Rs 70 to Rs 71 per share. The minimum lot size of this application for the retail category is 1600 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 3200 shares. The minimum amount of investment required for retail category investors is Rs 1,13,600 (71 x 1600 shares). However, for the HNI category, the minimum investment amount required is Rs 2,27,200 (79 x 3200 shares). Purv Flexipack Limited IPO 2024 is a book-built issue of Rs 40.21 crores. The IPO issue is entirely a fresh issue of 56.64 lakh equity shares. The allotment for this IPO is expected to be finalized on Friday, March 1, 2024. Purv Flexipack Limited IPO will be listed on NSE SME, and the listing date is fixed on Tuesday, March 5, 2024. The book-running lead manager of Purv Flexipack Limited IPO is Holani Consultants Private Limited. The registrar for this IPO is Link Intime India Private Limited. The market maker for the Purv Flexipack Limited IPO is Holani Consultants.
About Purv Flexipack Limited
Purv Flexipack was incorporated in 2005; it distributes plastic products, including BOPP films, Plastic granules, Inks, Adhesives, Masterbatches, Ethyl Acedate, 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) Films. Purv Flexipack provides various packaging solutions for a diverse customer base. They have four warehouses for storing and managing inventory. The warehouse is equipped with modern facilities and equipment to ensure safe and secure storage of products. The warehouse is maintained under optimal conditions to preserve the quality and integrity of the stored items. The Company has implemented strict inventory management systems to ensure accurate inventory tracking. As of December 2023, the Company has 28 employees in various departments.
Objectives of Purv Flexipack Limited IPO
The net funds raised from this IPO are to be used for repayment of existing borrowings availed by the Company from the commercial bank. Moreover, the funds will also be utilized for funding the working capital requirement and general corporate purposes.
Financial Performance of Purv Flexipack Limited (Amt in Rs Lakhs)
The Company’s revenue increased by 48.66% and profit after tax increased by 31.82% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 | 567.5 |
| 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 |
Other Important Details of Purv Flexipack Limited IPO
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | 5-Mar-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 70 to Rs 71 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,664,000 shares (amounting to Rs 40.21 crore |
| Fresh Issue | 5,664,000 shares (amounting to Rs 40.21 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 15,318,950 |
| Shareholding post issue | 20,982,950 |
| Market Maker portion | 348,800 shares |
| Holani Consultants |
Lot Size of Purv Flexipack Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | Rs 113,600 |
| Retail (Max) | 1 | 1600 | Rs 113,600 |
| HNI (Min) | 2 | 3,200 | Rs 227,200 |
IPO Reservation of Purv Flexipack Limited
| 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 |
Promoters of Purv Flexipack Limited and Their Holdings
Rajeev Goenka, Poonam Goenka and Purv Logistics Private Limited are the promoters of the company.
| Shareholding Pre Issue | 92.17% |
| Shareholding Post Issue | – |
Time-Table of Purv Flexipack Limited IPO 2024
| 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 |
Key Performance Indicator of Purv Flexipack Limited IPO 2024
| 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 |
Lead Manager(s) of Purv Flexipack Limited IPO 2024
The lead manager for Purv Flexipack Limited IPO is Holani Consultants Private Limited.
How to Apply for Purv Flexipack Limited IPO 2024?
Wait for the public issue to open for subscription, then visit the Bigul website to apply for the Purv Flexipack Limited IPO with Bigul.
How to Check the Allotment Status of Purv Flexipack Limited IPO 2024?
The registrar for Purv Flexipack Limited IPO is Link Intime India Private Limited. To check your allotment status, please click here.
FAQs
- What is Purv Flexipack Limited IPO 2024?
Purv Flexipack Limited IPO 2024 is a book-built issue of Rs 40.21 crores. The issue is entirely a fresh issue of 56.64 lakh equity shares. The price band is decided at Rs 70 to Rs 71 per share. The minimum lot size of this application for the retail category is 1600 shares. The minimum amount of investment required for retail category investors is Rs 1,13,600.
- Who are the lead managers for the Purv Flexipack Limited IPO 2024?
Holani Consultants Private Limited are appointed as the lead managers for the IPO.
- What is the role of Link Intime India Private Limited in this IPO?
Link Intime India Private Limited is the registrar for Purv Flexipack Limited, handling the IPO’s administrative aspects.
- How can I apply for the Purv Flexipack Limited IPO 2024?
The public subscription of this IPO will open on February 27, 2024. Visit the Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net funds raised from this IPO are to be used for repayment of existing borrowings availed by the company from the commercial bank. Moreover, the funds will also be utilized to fund the working capital requirement and general corporate purposes.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Purv Flexipack Limited IPO 2024 by visiting here.
- What is the financial performance of Purv Flexipack Limited?
The company’s revenue increased by 48.66%, and profit after tax rose by 31.82% between the financial year ending March 31, 2023, and March 31, 2022.