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 opens for subscription on February 27, 2024 and closes on February 29, 2024. The allotment for the Purv Flexipack IPO is expected to be finalized on Friday, March 1, 2024. Purv Flexipack IPO will list on NSE SME with tentative listing date fixed as Tuesday, March 5, 2024.
Purv Flexipack IPO price band is set at ₹70 to ₹71 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹113,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹227,200.
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 Purv Flexipack IPO is Holani Consultants.
Refer to Purv Flexipack IPO RHP for detailed information.
Purv Flexipack IPO Details
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | [.] |
| 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 Holani Consultants |
Purv Flexipack 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 |
Purv Flexipack IPO Timeline (Tentative Schedule)
Purv Flexipack IPO opens on February 27, 2024, and closes on February 29, 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 |
Purv Flexipack IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹113,600 |
| Retail (Max) | 1 | 1600 | ₹113,600 |
| HNI (Min) | 2 | 3,200 | ₹227,200 |
| Lot Size Calculator | |||
Purv Flexipack IPO Promoter Holding
The promoters of the company, are Mr. Rajeev Goenka, Mrs. Poonam Goenka and M/s Purv Logistics Private Limited.
| Share Holding Pre Issue | 92.17% |
| Share Holding Post Issue |
About Purv Flexipack Limited
Incorporated in 2005, Purv Flexipack Limited distributes plastic products, including BOPP film, Polyester Films, CPP 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
The company 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. It is maintained under optimal conditions to preserve the quality and integrity of the stored items. Also, the company has implemented strict inventory management systems to ensure accurate inventory tracking.
As of December 31, 2023, the company has 28 employees in various departments including Accounts & Finance, Compliance, Maintenance, Marketing & Logistics, Production & Operations, Quality, Top Level Management, and Permanent Labour.
Purv Flexipack Limited Financial Information (Restated)
Purv Flexipack Limited’s revenue increased by 48.66% and profit after tax (PAT) rose by 31.82% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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
The market capitalization of Purv Flexipack IPO is Rs 148.98 Cr.
| KPI | Values |
|---|---|
| ROE | 11.46% |
| ROCE | 18.50% |
| Debt/Equity | 1.62 |
| RoNW | 10.84% |
| P/BV | 1.32 |
Check Purv Flexipack IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.39 | 4.1 |
| P/E (x) | 13.17 | 17.32 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Purv Flexipack IPO Objectives)
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:
- Repayment of existing borrowings availed by the company from scheduled commercial banks.
- Funding working capital requirements; and
- General corporate purposes.
Purv Flexipack Limited Contact Details
Purv Flexipack Limited
Annapurna Apartment, Suit 1C
C, 1st Floor, 23 Sarat Bose Road,
Kolkata-700020
Phone: +91 33 4070 3238
Email: cs@purvflexipack.in
Website: https://www.purvflexipack.in/
Purv Flexipack IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: braceport.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html