The company has priced the stock at Rs 121 per share. Around 50% of the offer is reserved for retail investors and the remaining 50% for non-retail investors.
The net proceeds from the public offering will be used to fund capital expenditure needs and other general corporate purposes.
In the unlisted market, the company’s shares are trading at a GMP of Rs 15, which translates to a 12% premium over the issue price.
Other details
The company is a leading manufacturer and supplier of rigid plastic packaging. It also exports globally (indirectly through exporting companies and third parties). We offer industrial packaging solutions for various sectors such as paints, agro-products, chemicals, cosmetics, adhesives, lubricants, food and edible oils.
The plastic packaging industry plays a crucial role in the packaging sector, offering versatile and durable solutions for various applications in different industries.
Plastic containers are widely used for packaging, storing and transporting a wide range of products including chemicals, paints, building materials, oils, agrochemicals, dairy products, adhesives, foods, lubricants and inks.
For the year ended February 2024, the company reported total revenue of Rs 24.24 crore and net profit of Rs 3.26 crore.
Swastika Investmart is acting as the lead manager for the issue and Bigshare Services is the registrar.
The IPO opened on August 21 and will close on August 23. Final allotment will likely take place on August 26. The company’s shares will likely begin trading on August 28.
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