Mega Flex Plastics Limited is primarily engaged in manufacturing of Leno Bags which are used for packaging agricultural products like potatoes, onions, garlic, coconuts, fruits and vegetables. The company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread).
The company operates in two segments: Manufacturing of Leno Bags, PP Fabrics, Sutli (Fibrillated Twisted Thread) and trading of Polypropylene Granules.
The company’s plant is strategically located on NH-6, about 120 km from the international all-weather port of Haldia and around 30 km from Kolkata port, which gives it excellent connectivity and transport facilities. The company’s brands include Lenoflex, Kisan, Kisan Regular, Goldflex, Goldflex Lite, Tiger, Tiranga, and Hena.
The company also export Leno Bags to European countries.
Competitive Strengths:
- Organizational stability along with management expertise.
- Smooth flow of operations.
- Well-defined organizational structure.
- Existing Supplier Relationship.
- Wide range of Products.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 2999.93 | 3343.16 | 219.85 | 2710.33 | 2534.89 |
| 31-Mar-21 | 3200.22 | 3108.53 | 128.87 | 2839.2 | 2663.75 |
| 31-Mar-22 | 3414.68 | 4739.16 | 265.93 | 3105.13 | 2929.68 |
| Amount in ₹ Lakhs |
Objects of the Issue
The Objects of the Issue are:
A. To meet the working capital requirements
B. To meet the Issue Expenses
C. General Corporate Purposes
Mega Flex Plastics IPO Details
| Mega Flex Plastics IPO Date | Sep 6, 2022 to Sep 9, 2022 |
| Mega Flex Plastics IPO Face Value | ₹10 per share |
| Mega Flex Plastics IPO Price | ₹40 per share |
| Mega Flex Plastics IPO Lot Size | 3000 Shares |
| Issue Size | 2,850,000 shares of ₹10 (aggregating up to ₹11.40 Cr) |
| Fresh Issue | 2,850,000 shares of ₹10 (aggregating up to ₹11.40 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Company Promoters | M/s. Channel Plastics Private Limited, Mr. Rakesh Sethia, Mr. Mohan Lal Parakh and Mr. Hukum Chand Bothra are the company promoters. |
Mega Flex Plastics IPO Lot Size
The Mega Flex Plastics IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
Mega Flex Plastics IPO Promoter Holding
| Pre Issue Share Holding | 99.79% |
| Post Issue Share Holding | 73.32% |
Mega Flex Plastics IPO Review
The company is operating in a highly competitive and fragmented segment. The sustainability of margins going forward is a major concern. Based on its current financial data, the issue appears fully priced. Hence risk seeker/cash surplus investors may consider an investment with a long-term horizon. Read detail review…
Mega Flex Plastics IPO Prospectus
Company Contact Information
Mega Flex Plastics Limited
4, Ho Chi Minh Sarani,
Suite-2A, 2nd Floor,
Kolkata – 700071
Phone: +91 98742 45045
Email: compliance@megaflex.in
Website: http://www.megaflex.co.in/
Mega Flex Plastics IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://online.cameoindia.com/