Purv Flexipack IPO: Check Out Price Band, Issue Size & More

Purv Flexipack opened its IPO subscription on February 27, and the closing date is February 29, 2024. The IPO price band is in the range of Rs 70 to Rs 71 per share, with a face value of Rs 10 each. The lot size for Purv Flexipack IPO consists of 1,600 shares, and investors have the option to bid for a minimum of 1,600 shares and in multiples thereof.

About the Company

Purv Flexipack distributes a range of plastic-based products, including polyester films, cast polypropylene (CPP) films, biaxially oriented polypropylene (BOPP) film, plastic granules, inks, adhesives, masterbatches, ethyl acetate, and titanium dioxide. Furthermore, the company operates as a Dealer Operated Polymer Warehouse (DOPW) and serves as a Del Credere Associate (DCA) for the polymer sector of Indian Oil Corporation Limited.

Price Band

The IPO price band for Purv Flexipack has been established within the range of Rs 70 to Rs 71 per share.

Also read: Platinum Industries IPO: Check Out Price Band, Reserve Portion & More

Issue Size

The Purv Flexipack IPO, valued at Rs 40.21 crore, consists of a fresh issue of 56,64,000 equity shares with a face value of Rs 10 each. It’s important to note that this IPO is entirely a fresh issue, and there is no offer-for-sale component involved.

IPO Reserve Portion

• Qualified Institutional Buyers (QIB): 50% of the shares in the public issue
  
• Non-Institutional Investors (NII): Not less than 15%
  
• Retail Investors: Not less than 35 percent of the offer

Company Financials

Objectives of the Issue

The company plans to utilize the net proceeds from the new issue for various purposes, including:

1. Meeting the company’s working capital requirements.
2. Financing general corporate purposes.
3. Fully or partially repaying specific current fund-based borrowings obtained from scheduled commercial banks.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.