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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 ₹40.00 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). The minimum lot size investment for 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 Date | September 6, 2022 to September 9, 2022 |
| Listing Date | September 19, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 28,50,000 shares (aggregating up to ₹11.40 Cr) |
| Reserved for Market Maker | 1,44,000 shares Rainbow Securities Pvt.Ltd. (aggregating up to ₹0.5760 Cr) |
| Net Offered to Public | 27,06,000 shares (aggregating up to ₹10.82 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 78,95,025 shares |
| Share Holding Post Issue | 1,07,45,025 shares |
Mega Flex Plastics IPO offers total 28,50,000 shares. Out of which 13,53,000 (47.47%) allocated to NII, 13,53,000 (47.47%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,44,000 (5.05%) |
| NII (HNI) Shares Offered | 13,53,000 (47.47%) |
| Retail Shares Offered | 13,53,000 (47.47%) |
| Total Shares Offered | 28,50,000 (100.00%) |
Mega Flex Plastics IPO opens on September 6, 2022, and closes on September 9, 2022.
| IPO Open Date | Tue, Sep 6, 2022 |
| IPO Close Date | Fri, Sep 9, 2022 |
| Tentative Allotment | Wed, Sep 14, 2022 |
| Initiation of Refunds | Thu, Sep 15, 2022 |
| Credit of Shares to Demat | Fri, Sep 16, 2022 |
| Tentative Listing Date | Mon, Sep 19, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 9, 2022 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | 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 | |||||
The market capitalization of Mega Flex Plastics IPO is ₹42.98 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 16.19 |
The Objects of the Issue are:
A. To meet the working capital requirements
B. To meet the Issue Expenses
C. General Corporate Purposes
[Dilip Davda] 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...
| Listing Date | September 19, 2022 |
| BSE Script Code | |
| NSE Symbol | MEGAFLEX |
| ISIN | INE0G1D01014 |
| Final Issue Price | ₹40 per share |
| BSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹54.00 |
| Low | ₹51.30 |
| High | ₹56.70 |
| Last Trade | ₹56.70 |
Mega Flex Plastics Ltd.
4, Ho Chi Minh Sarani,
Suite-2A,
2nd Floor,
Kolkata, West Bengal, 700071
Phone: +91 98742 45045
Email: compliance@megaflex.in
Website: http://www.megaflex.co.in/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Mega Flex Plastics IPO is a SME IPO of 28,50,000 equity shares of the face value of ₹10 aggregating up to ₹11.40 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on September 6, 2022, and closes on September 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 September 6, 2022 and closes on September 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 Friday, September 16, 2022. Check the Mega Flex Plastics IPO allotment status.
The Mega Flex Plastics IPO listing date is on Monday, September 19, 2022.
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