Mega Flex Plastics was incorporated on November 18, 2003. The company primarily manufactures leno bags, which is used for packaging agricultural produce like potatoes, onions, garlic, coconuts, fruits and vegetables.
| Bidding Dates |
|---|
| 06 Sep 2022 - 09 Sep 2022 |
| Subscription |
|---|
| 45.94x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 3000 | 2.9 M | ₹40 | 73.48 % | ₹114.0 M | RHP DOC |
Mega Flex Plastics IPO SUBSCRIPTION STATUS
09 Sep '22Mega Flex Plastics IPO overall subscription rate was 45.94 times the total available shares
Mega Flex Plastics IPO retail subscription rate was 39.05 times in the retail segment
Mega Flex Plastics IPO non-institutional investor subscription rate was 52.82 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
09 Sep 2022 (Day 4) | 39.05x | 52.82x | - |
08 Sep 2022 (Day 3) | 9.88x | 4.66x | - |
07 Sep 2022 (Day 2) | 3.78x | 2.2x | - |
06 Sep 2022 (Day 1) | 1.43x | 1.49x | - |
Mega Flex Plastics FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| FY22 | 26.6 | 464.7 | 23.3 | 17.8 | 8.9% |
| FY21 | 12.9 | 294.9 | 38.1 | 33.7 | 9.0% |
| FY20 | 22.0 | 315.0 | -6.0 | -6.4 | 10.9% |
Mega Flex Plastics IPO SUBSCRIPTION STATUS DETAILS
Mega Flex Plastics had 2.9 M shares on offer
Mega Flex Plastics IPO offer price was ₹40
Mega Flex Plastics IPO minimum Investment was ₹120000
Mega Flex Plastics IPO issue size was ₹ 114.0 M
Mega Flex Plastics had a minimum lot size of 3000 Shares per application
Mega Flex Plastics NUMBER OF SHARES ON OFFER
Mega Flex Plastics IPO IMPORTANT DATES
| Issue Open Date | 06 Sep 2022 |
| Issue close Date | 09 Sep 2022 |
| Allotment Date | 14 Sep 2022 |
| Refund Date | 15 Sep 2022 |
| Demat Account Credit Date | 16 Sep 2022 |
| Listing Date | 19 Sep 2022 |
| Listing on Exchange(s) | NSE |
| Mega Flex Plastics Allotment Status | Exchange |
Mega Flex Plastics IPO subscription opened on 06 Sep 2022, and closed on 09 Sep 2022
IPO allotment for Mega Flex Plastics was finalized on Wednesday, 14 Sep 2022
IPO listing for Mega Flex Plastics was on NSE on Monday, 19 Sep 2022
Mega Flex Plastics IPO LISTING GAINS
| Issue Price (adjusted) | 40.0 |
| Listing Open Price | 54.0 |
| Listing Close Price | 56.7 |
| Listing Gain% | 35.0% |
| Current Gain% | 150.0% |
Mega Flex Plastics Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mega Flex Plastics Ltd. | 100 | 107.4 | 15.3 | 0.1 | 1.3 | 11.6 | 9.9 | 80.6 | 29 | 7.3 | 112.3 | 6.6 | 105.5 |
| Garware Hi-Tech Films Ltd. | 7177.5 | 16675.1 | 43 | 2.3 | 7.4 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 243.3 | 7794.5 | 20.1 | -10.9 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | -1.8 |
| AGI Greenpac Ltd. | 706.1 | 4568.3 | 12.6 | 3.1 | 1.7 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| TCPL Packaging Ltd. | 4287 | 3901.2 | 33.8 | -2.5 | 2.1 | 13.6 | 5.7 | 1835.6 | 2.9 | 97.8 | -31.6 | 126.9 | -13.6 |
| Polyplex Corporation Ltd. | 1191.6 | 3740.7 | 24.1 | 1.7 | 0.5 | 1.1 | 0.5 | 7173.4 | 2.8 | 45 | -78.5 | 49.5 | 13.9 |
Mega Flex Plastics INFORMATION ON IPO ISSUE
About Mega Flex Plastics
Mega Flex Plastics was incorporated on November 18, 2003. The company primarily manufactures leno bags, which is used for packaging agricultural produce like potatoes, onions, garlic, coconuts, fruits and vegetables.
Object of the Issue
- To meet the working capital requirements
- To meet the issue expenses
- General corporate purposes
Mega Flex Plastics - PROMOTERS
| Name |
|---|
| Channel Plastics Private Limited |
| Rakesh Sethia |
| Mohan Lal Parakh |
| Hukum Chand Bothra |
Mega Flex Plastics Lead Manager
Finshore Management Services Limited
ramakrishna@finshoregroup.com
Mega Flex Plastics Registrar to the issue
Cameo Corporate Services Limited
investor@cameoindia.com
Mega Flex Plastics Strengths
Organizational stability along with management expertise
Company has an established track record of 14+ years which indicates the company’s ability to weather economic and business cycles
Smooth flow of operations
The company has maintained a good relationship with major customers and is successful in building a strong client base for business
Wide range of products
The company provides a broad range of products which increases the scope of customers and its ability to cater to a diversified clientele
Mega Flex Plastics Risks
Plastic bans
The increasing pollution control norms and imposition of a ban on plastic for packing products
Dependent on few customers
A substantial portion of the company’s revenues is dependent on a few customers
IPO FAQs
The promoters of the company are Channel Plastics Private Limited, Rakesh Sethia, Mohan Lal Parakh and Hukum Chand Bothra.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 40.0 - 40.0.
The IPO application opens on Sep 06, 2022 and closes on Sep 09, 2022.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Sep 14, 2022.
The refund will be credited to your account on Sep 15, 2022.
The allotted shares will be credited to your demat on Sep 16, 2022.
Mega Flex Plastics Ltd.’s shares listed on the stock exchanges on Sep 19, 2022.