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Purv Flexipack Limited IPO Date & Details

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Company Overview:

Purv Flexipack Limited, incorporated in 2005, is involved in the distribution of plastic products, including BOPP films, Polyester Films, CPP films, Plastic granules, Inks, Adhesives, Masterbatches, Ethyl Acedate, and Titanium Dioxide. The company offers a diverse range of packaging solutions and has warehouses equipped with modern facilities to ensure secure storage of products.

IPO Details:

The IPO is a book-built issue with a total issue size of 5,664,000 shares, aggregating up to ₹40.21 Crores.

The issue is entirely a fresh issue of 56.64 lakh shares, and the price band is set at ₹70 to ₹71 per share.

The minimum lot size for an application is 1600 shares, with a minimum investment of ₹113,600 for retail investors.

The IPO opens on February 27, 2024, and closes on February 29, 2024, with a tentative listing date on March 5, 2024.

Financial Performance:

The financials of Purv Flexipack Limited show positive trends. Revenue increased by 48.66%, and profit after tax (PAT) rose by 31.82% between the financial year ending March 31, 2023, and March 31, 2022. The company’s key performance indicators (KPIs) such as ROE, ROCE, Debt/Equity, RoNW, and P/BV seem reasonable, indicating a stable financial position.

Promoter Holding:

The promoters of the company, including Mr. Rajeev Goenka, Mrs. Poonam Goenka, and M/s Purv Logistics Private Limited, hold 92.17% of the shares pre-issue.

Objects of the Issue:

The net proceeds from the fresh issue will be utilized for the repayment of existing borrowings, funding working capital requirements, and general corporate purposes.

Overall Assessment:

Based on the provided information, Purv Flexipack Limited seems to be in a growing phase, with positive financial indicators and a reasonable pricing strategy for its IPO. Investors may consider evaluating the company’s

prospects, industry trends, and risk factors mentioned in the RHP before making an investment decision. Additionally, consulting with financial experts and reviewing the market conditions at the time of the IPO is advisable.