Bookbuilding IPO | ₹40 Cr | Listed at NSE SME | Tue, Feb 27, 2024 - Thu, Feb 29, 2024
Purv Flexipack IPO is a book build issue of ₹40.21 crores. The issue is entirely a fresh issue of 0.57 crore shares of ₹40.21 crore.
Purv Flexipack IPO bidding started from Feb 27, 2024 and ended on Feb 29, 2024. The allotment for Purv Flexipack IPO was finalized on Mar 1, 2024. The shares got listed on NSE SME on Mar 5, 2024.
Purv Flexipack IPO price band is set at ₹71 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,13,600 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,27,200.
Holani Consultants Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Holani Consultants Pvt.Ltd..
Refer to Purv Flexipack IPO RHP for detailed Information.
IPO Open
Tue, Feb 27, 2024
IPO Close
Thu, Feb 29, 2024
Issue Price
₹71 per share
Market Cap (Pre-IPO)
₹148.98 Cr
| IPO Date | 27 to 29 Feb, 2024 |
| Listed on | Tue, Mar 5, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹70 to ₹71 |
| Issue Price | ₹71 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 56,64,000 shares (agg. up to ₹40 Cr) |
| Reserved for Market Maker | 3,48,800 shares Holani Consultants Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 53,15,200 shares (agg. up to ₹38 Cr) |
| Net Offered to Public | 53,15,200 shares (agg. up to ₹38 Cr) |
| Share Holding Pre Issue | 1,53,18,950 shares |
| Share Holding Post Issue | 2,09,82,950 shares |
| NSE Symbol | PURVFLEXI |
| ISIN | INE0R6C01012 |
Purv Flexipack IPO comprises a total issue size of 56,64,000 shares. The net offer to the public is 53,15,200 shares, after excluding 3,48,800 shares allotted on a firm basis. Of the Net offer 25,69,600 (48.34%) are allocated to QIB, 8,44,800 (15.89%) allocated to NII 19,00,800 (35.76%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 25,69,600 | 48.34% | 45.37% |
| − Anchor Investor Shares Offered | 15,16,800 | 26.78% | |
| − QIB (Ex. Anchor) Shares Offered | 10,52,800 | 18.59% | |
| NII (HNI) Shares Offered | 8,44,800 | 15.89% | 14.92% |
| Retail Shares Offered | 19,00,800 | 35.76% | 33.56% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,48,800 | 6.16% | |
| Total Shares Offered | 56,64,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,13,600 |
| Retail (Max) | 1 | 1,600 | ₹1,13,600 |
| HNI (Min) | 2 | 3,200 | ₹2,27,200 |
Purv Flexipack IPO raises ₹10.77 crore from anchor investors. Purv Flexipack IPO Anchor bid date is February 26, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Feb 26, 2024 |
| Shares Offered | 15,16,800 |
| Anchor Portion (₹ Cr.) | 10.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Mar 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, May 30, 2024 |
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.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 283.16 | 258.53 | 181.47 | 154.18 |
| Total Income | 139.36 | 341.08 | 229.44 | 137.80 |
| Profit After Tax | 4.30 | 8.26 | 6.27 | 5.68 |
| NET Worth | 81.52 | 76.19 | 67.93 | 58.98 |
| Reserves and Surplus | 67.41 | 62.07 | 53.81 | 44.86 |
| Total Borrowing | 150.14 | 123.51 | 83.40 | 70.78 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of existing borrowings availed by our company from scheduled commercial banks. | 19.87 |
| 2 | Funding the working Capital Requirements | 13.89 |
| 3 | General corporate purposes* | 3.02 |
| Total | 36.78 |
| KPI | |
|---|---|
| ROE | 11.46% |
| ROCE | 18.50% |
| Debt/Equity | 1.62 |
| RoNW | 10.84% |
| PAT Margin | 2.48% |
| Price to Book Value | 1.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.39 | 4.10 |
| P/E (x) | 13.17 | 17.32 |
| Promoter Holding | 92.17% | |
| Market Cap | ₹148.98 Cr. |
The Purv Flexipack IPO is subscribed 421.78 times on February 29, 2024 6:21:00 PM (Day 3). The public issue subscribed 448.73 times in the retail category, 157.32 times in the QIB category, and 690.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 157.32 | 10,52,800 | 16,56,22,400 |
| NII* | 690.72 | 8,44,800 | 58,35,21,600 |
| Retail | 448.73 | 19,00,800 | 85,29,45,600 |
| Total | 421.78 | 37,98,400 | 1,60,20,89,600 |
Total Application : 5,33,091
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers (including Underwriting commission) | 2.39 |
| 2 | Brokerage, selling commission and upload fees(i)(ii) | 0.07 |
| 3 | Advertising and marketing expenses | 0.26 |
| 4 | Fees payable to the Legal Advisors | 0.02 |
| 5 | Fees payable to the Registrar to the Issue | 0.01 |
| 6 | Fees payable to the to the regulators including Stock Exchanges | 0.35 |
| 7 | Printing and distribution of Issue stationary | 0.00 |
| 8 | Others (Bankers to the Issue, auditor’s fees etc.) | 0.33 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹71.00 |
| Open | ₹260.00 |
| Low | ₹247.00 |
| High | ₹273.00 |
| Last Trade | ₹247.00 |
Lead Manager Reports
Purv Flexipack IPO is a SME IPO of 56,64,000 equity shares of the face value of ₹10 aggregating up to ₹40 Crores. The issue is priced at ₹71 per share. The minimum order quantity is 1600.
The IPO opens on Tue, Feb 27, 2024, and closes on Thu, Feb 29, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Purv Flexipack IPO using UPI as a payment gateway. Zerodha customers can apply in Purv Flexipack IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Purv Flexipack IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Purv Flexipack IPO opens on Tue, Feb 27, 2024 and closes on Thu, Feb 29, 2024.
Purv Flexipack IPO lot size is 1600, and the minimum amount required for application is ₹1,13,600.
You can apply in Purv Flexipack 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 Purv Flexipack IPO will be done on Friday, March 1, 2024, and the allotted shares will be credited to your demat account by Mon, Mar 4, 2024. Check the Purv Flexipack IPO allotment status.
The Purv Flexipack IPO listing date is on Tue, Mar 5, 2024.
