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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 ₹71.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,12,000 (1600 shares). The minimum lot size investment for 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 Date | February 27, 2024 to February 29, 2024 |
| Listing Date | March 5, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹70 to ₹71 per share |
| Issue Price Final | ₹71 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 56,64,000 shares (aggregating up to ₹40.21 Cr) |
| Reserved for Market Maker | 3,48,800 shares Holani Consultants Pvt.Ltd. (aggregating up to ₹2.48 Cr) |
| Net Offered to Public | 53,15,200 shares (aggregating up to ₹37.74 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,53,18,950 shares |
| Share Holding Post Issue | 2,09,82,950 shares |
Purv Flexipack IPO offers total 56,64,000 shares. Out of which 25,69,600 (45.37%) allocated to QIB, 10,52,800 (18.59%) allocated to QIB, 8,44,800 (14.92%) allocated to NII, 19,00,800 (33.56%) allocated to RII and 15,16,800 (26.78%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,48,800 (6.16%) |
| QIB Shares Offered | 25,69,600 (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 (14.92%) |
| Retail Shares Offered | 19,00,800 (33.56%) |
| Total Shares Offered | 56,64,000 (100.00%) |
Purv Flexipack IPO raises ₹10.77 crore from anchor investors. Purv Flexipack IPO Anchor bid date is February 26, 2024. Purv Flexipack IPO Anchor Investors list
| Bid Date | February 26, 2024 |
| Shares Offered | 15,16,800 |
| Anchor Portion Size (In Cr.) | 10.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 30, 2024 |
Purv Flexipack IPO opens on February 27, 2024, and closes on February 29, 2024.
| IPO Open Date | Tue, Feb 27, 2024 |
| IPO Close Date | Thu, Feb 29, 2024 |
| Tentative Allotment | Fri, Mar 1, 2024 |
| Initiation of Refunds | Mon, Mar 4, 2024 |
| Credit of Shares to Demat | Mon, Mar 4, 2024 |
| Tentative Listing Date | Tue, Mar 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Feb 29, 2024 |
Investors can bid for a minimum of 1,600 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 | 1,600 | ₹1,13,600 |
| Retail (Max) | 1 | 1,600 | ₹1,13,600 |
| HNI (Min) | 2 | 3,200 | ₹2,27,200 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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'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 |
| Total Income | 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 | ||||
The market capitalization of Purv Flexipack IPO is ₹148.98 Cr.
| KPI | Values |
|---|---|
| ROE | 11.46% |
| ROCE | 18.50% |
| Debt/Equity | 1.62 |
| RoNW | 10.84% |
| Price to Book Value | 1.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.39 | 4.10 |
| P/E (x) | 13.17 | 17.32 |
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:
[Dilip Davda] The company is a flagship company of Purv group that has one listed company i.e. Cool Caps and PFL is holding around 62% equity in this subsidiary. The company has posted growth in its top and bottom lines for the reported periods. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may lap it up for the medium to long term rewards. Read detail review...
| Listing Date | March 5, 2024 |
| BSE Script Code | |
| NSE Symbol | PURVFLEXI |
| ISIN | INE0R6C01012 |
| Final Issue Price | ₹71 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹71.00 |
| Open | ₹260.00 |
| Low | ₹247.00 |
| High | ₹273.00 |
| Last Trade | ₹247.00 |
Purv Flexipack Ltd.
Annapurna Apartment, Suit 1C
C, 1st Floor,
23 Sarat Bose Road,
Kolkata, West Bengal, 700020
Phone: +91 33 4070 3238
Email: cs@purvflexipack.in
Website: https://www.purvflexipack.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: braceport.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Purv Flexipack IPO is a SME IPO of 56,64,000 equity shares of the face value of ₹10 aggregating up to ₹40.21 Crores. The issue is priced at ₹71 per share. The minimum order quantity is 1600.
The IPO opens on February 27, 2024, and closes on February 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 February 27, 2024 and closes on February 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 Monday, March 4, 2024. Check the Purv Flexipack IPO allotment status.
The Purv Flexipack IPO listing date is on Tuesday, March 5, 2024.
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