Fixed Price IPO | ₹11 Cr | Listed at NSE SME | Tue, Sep 6, 2022 - Fri, Sep 9, 2022
Mega Flex Plastics IPO is a fixed price issue of ₹11.40 crores. The issue is entirely a fresh issue of 0.29 crore shares of ₹11.40 crore.
Mega Flex Plastics IPO bidding started from Sep 6, 2022 and ended on Sep 9, 2022. The allotment for Mega Flex Plastics IPO was finalized on Sep 14, 2022. The shares got listed on NSE SME on Sep 19, 2022.
Mega Flex Plastics IPO price is ₹40 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,40,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Rainbow Securities Pvt.Ltd..
Refer to Mega Flex Plastics IPO RHP for detailed Information.
IPO Open
Tue, Sep 6, 2022
IPO Close
Fri, Sep 9, 2022
Issue Price
₹40 per share
Market Cap (Pre-IPO)
₹42.98 Cr
| IPO Date | 6 to 9 Sep, 2022 |
| Listed on | Mon, Sep 19, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 28,50,000 shares (agg. up to ₹11 Cr) |
| Reserved for Market Maker | 1,44,000 shares Rainbow Securities Pvt.Ltd. (agg. up to ₹0.5760 Cr) |
| Fresh Issue (Ex Market Maker) | 27,06,000 shares (agg. up to ₹11 Cr) |
| Net Offered to Public | 27,06,000 shares (agg. up to ₹11 Cr) |
| Share Holding Pre Issue | 78,95,025 shares |
| Share Holding Post Issue | 1,07,45,025 shares |
| NSE Symbol | MEGAFLEX |
| ISIN | INE0G1D01014 |
Mega Flex Plastics IPO comprises a total issue size of 28,50,000 shares. The net offer to the public is 27,06,000 shares, after excluding 1,44,000 shares allotted on a firm basis. Of the Net offer 13,53,000 (50.00%) allocated to NII 13,53,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 13,53,000 | 50.00% | 47.47% |
| Retail Shares Offered | 13,53,000 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,44,000 | 5.05% | |
| Total Shares Offered | 28,50,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
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:
| Period Ended | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 34.15 | 32.00 | 30.00 |
| Total Income | 47.39 | 31.09 | 33.43 |
| Profit After Tax | 2.66 | 1.29 | 2.20 |
| NET Worth | 31.05 | 28.39 | 27.10 |
| Reserves and Surplus | 29.30 | 26.64 | 25.35 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working capital requirements | 10.17 |
| 2 | Issue related expenses | 0.48 |
| 3 | General corporate expenses | 0.75 |
| KPI | |
|---|---|
| ROE | 6 |
| ROCE | 12 |
| RoNW | 8.56 |
| PAT Margin | 5.61% |
| EBITDA Margin | 8.89% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 15.16 | |
| P/E (x) | 16.19 | |
| Promoter Holding | 99.79% | 73.32% |
| Market Cap | ₹42.98 Cr. |
The Mega Flex Plastics IPO is subscribed 46.31 times on September 9, 2022 7:00:00 PM (Day 4). The public issue subscribed 39.75 times in the retail category, [.] times in the QIB category, and 52.86 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 52.86 | 13,53,000 | 7,15,17,000 |
| Retail | 39.75 | 13,53,000 | 5,37,87,000 |
| Total | 46.31 | 27,06,000 | 12,53,04,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including other intermediaries Fees | 0.25 |
| 2 | Regulators Including Stock Exchanges | 0.15 |
| 3 | Advertising and Marketing Expenses | 0.05 |
| 4 | Printing and distribution of Issue Stationary | 0.03 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹54.00 |
| Low | ₹51.30 |
| High | ₹56.70 |
| Last Trade | ₹56.70 |
Lead Manager Reports
Mega Flex Plastics IPO is a SME IPO of 28,50,000 equity shares of the face value of ₹10 aggregating up to ₹11 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on Tue, Sep 6, 2022, and closes on Fri, Sep 9, 2022.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Mega Flex Plastics IPO using UPI as a payment gateway. Zerodha customers can apply in Mega Flex Plastics IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mega Flex Plastics IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mega Flex Plastics IPO opens on Tue, Sep 6, 2022 and closes on Fri, Sep 9, 2022.
Mega Flex Plastics IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in Mega Flex Plastics IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mega Flex Plastics IPO will be done on Wednesday, September 14, 2022, and the allotted shares will be credited to your demat account by Fri, Sep 16, 2022. Check the Mega Flex Plastics IPO allotment status.
The Mega Flex Plastics IPO listing date is on Mon, Sep 19, 2022.
