Purv Flexipack was incorporated on 11 May 2005. The company primarily engages in the distribution of various plastic-based products such as biaxially oriented polypropylene film, polyester films, cast polypropylene films, plastic granules, inks, adhesives, masterbatches, ethyl acetate, and titanium dioxide.
| Bidding Dates |
|---|
| 27 Feb 2024 - 29 Feb 2024 |
| Subscription |
|---|
| 386.95x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,12,000 | 1 | 1 | 1600 | 5.7 M | ₹70 - ₹71 | 67.29 % | ₹396.5 M - ₹402.1 M | RHP DOC |
Purv Flexipack IPO SUBSCRIPTION STATUS
29 Feb '24Purv Flexipack IPO overall subscription rate was 386.95 times the total available shares
Purv Flexipack IPO retail subscription rate was 589.06 times in the retail segment
Purv Flexipack IPO non-institutional investor subscription rate was 938.94 times in the non-institutional investor category
Purv Flexipack IPO Qualified Institutional Bidder subscription rate was 79.87 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Feb 2024 (Day 3) | 589.06x | 938.94x | 79.87x |
28 Feb 2024 (Day 2) | 301.82x | 157.98x | 3.07x |
27 Feb 2024 (Day 1) | 122.7x | 62.27x | 0.12x |
Purv Flexipack 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 |
| H1FY24 | 43.0 | 1,343.9 | -120.5 | -163.9 | 7.4% |
| FY23 | 82.6 | 3,331.7 | 226.2 | -0.3 | 5.7% |
| FY22 | 62.7 | 2,223.7 | -11.1 | -44.1 | 4.4% |
| FY21 | 56.8 | 1,330.4 | -59.0 | -175.6 | 7.4% |
Purv Flexipack IPO SUBSCRIPTION STATUS DETAILS
Purv Flexipack had 5.7 M shares on offer
Purv Flexipack IPO offer price was in the range ₹70 - ₹71
Purv Flexipack IPO minimum Investment was ₹112000
Purv Flexipack IPO issue size was ₹ 396.5 M - ₹ 402.1 M
Purv Flexipack had a minimum lot size of 1600 Shares per application
Purv Flexipack NUMBER OF SHARES ON OFFER
Purv Flexipack IPO IMPORTANT DATES
| Issue Open Date | 27 Feb 2024 |
| Issue close Date | 29 Feb 2024 |
| Allotment Date | 01 Mar 2024 |
| Refund Date | 04 Mar 2024 |
| Demat Account Credit Date | 04 Mar 2024 |
| Listing Date | 05 Mar 2024 |
| Listing on Exchange(s) | NSE |
| Purv Flexipack Allotment Status | Exchange |
Purv Flexipack IPO subscription opened on 27 Feb 2024, and closed on 29 Feb 2024
IPO allotment for Purv Flexipack was finalized on Friday, 01 Mar 2024
IPO listing for Purv Flexipack was on NSE on Tuesday, 05 Mar 2024
Purv Flexipack IPO LISTING GAINS
| Issue Price (adjusted) | 71.0 |
| Listing Open Price | 260.0 |
| Listing Close Price | 247.0 |
| Listing Gain% | 266.2% |
| Current Gain% | -29.5% |
Purv Flexipack 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Purv Flexipack Ltd. | 50 | 105 | 16 | -0.3 | 0.2 | 4.8 | 1.5 | 697.1 | 59.7 | 6.6 | -56 | 3.1 | -56 |
| Garware Hi-Tech Films Ltd. | 6973 | 16200 | 41.8 | 2.2 | 7.2 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 224.7 | 7198.1 | 18.5 | 2.2 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | 8.3 |
| AGI Greenpac Ltd. | 709.8 | 4592.2 | 12.7 | 3.1 | 1.7 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| Uflex Ltd. | 488.7 | 3529 | 11.1 | 0.1 | 0.2 | 3.9 | 1.4 | 15513 | 2.1 | 317.1 | 122.8 | 43.9 | 122.7 |
| Polyplex Corporation Ltd. | 1115.9 | 3503.1 | 77.9 | -1 | 0.5 | 1.1 | 0.5 | 7173.4 | 2.8 | 45 | -78.5 | 14.3 | -78.5 |
Purv Flexipack INFORMATION ON IPO ISSUE
About Purv Flexipack
Purv Flexipack was incorporated on 11 May 2005. The company primarily engages in the distribution of various plastic-based products such as biaxially oriented polypropylene film, polyester films, cast polypropylene films, plastic granules, inks, adhesives, masterbatches, ethyl acetate, and titanium dioxide.
Object of the Issue
- Repayment of certain existing fund-based borrowings, in full or in part, availed by the company from scheduled commercial banks
- Funding working capital requirements of the company
- General corporate purposes
Purv Flexipack - PROMOTERS
| Name |
|---|
| Rajeev Goenka |
| Poonam Goenka |
| Purv Logistics Private Limited |
Purv Flexipack Lead Manager to the Issue
Holani Consultants Private Limited
ipo@holaniconsultants.co.in
Purv Flexipack Registrar to the Issue
Link Intime India Private Limited
braceport.ipo@linkintime.co.in
Purv Flexipack Strengths
One-stop solution
The company offers a one-stop solution for packaging material, simplifying the sourcing process with a wide range of products under one roof. Its portfolio includes plastic granules, masterbatch/colorants, films, ink, and adhesives
Service-centric culture
The company recognizes that an efficient and reliable supply chain is crucial in meeting customer demands and maintaining competitive pricing. It has maintained long and strong relationships with both customers and suppliers
Stocked up
The company prioritizes having ample stock to meet its customers' diverse needs promptly. Its warehouse is well-equipped to store a wide range of plastic films, ensuring optimal inventory levels
Purv Flexipack Risks
Dependent on few customers
The company derives a portion of its revenue from certain customers, and the loss of one or more such customers could adversely affect the business
Pending litigations
There are pending litigations against the company, its promoters, directors, and group companies. Any adverse decision in these proceedings may render them liable to liabilities/penalties and may adversely affect the business
Unsecured loans
The company and its subsidiaries have availed unsecured loans from promoters, directors, and group entities, which may be recalled on demand
IPO FAQs
The promoters of the company are Rajeev Goenka, Poonam Goenka and Purv Logistics Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 70.0 - 71.0.
The IPO application opens on Feb 27, 2024 and closes on Feb 29, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 112,000.0, the maximum value for this IPO is Rs 113,600.0.
This IPO will be allotted on Mar 01, 2024.
The refund will be credited to your account on Mar 04, 2024.
The allotted shares will be credited to your demat on Mar 04, 2024.
Purv Flexipack Ltd.’s shares listed on the stock exchanges on Mar 05, 2024.