Mega Flex Plastics Limited IPO Detail
Mega Flex Plastics Limited is primarily engaged in manufacturing of Leno Bags which are used for packaging agricultural products like potatoes, onions, garlic, coconuts, fruits and vegetables. The company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread).
The company operates in two segments: Manufacturing of Leno Bags, PP Fabrics, Sutli (Fibrillated Twisted Thread) and trading of Polypropylene Granules.
The company's plant is strategically located on NH-6, about 120 km from the international all-weather port of Haldia and around 30 km from Kolkata port, which gives it excellent connectivity and transport facilities. The company's brands include Lenoflex, Kisan, Kisan Regular, Goldflex, Goldflex Lite, Tiger, Tiranga, and Hena.
The company also export Leno Bags to European countries.
Competitive Strengths:
- Organizational stability along with management expertise.
- Smooth flow of operations.
- Well-defined organizational structure.
- Existing Supplier Relationship.
- Wide range of Products.
Company Promoters
M/s. Channel Plastics Private Limited, Mr. Rakesh Sethia, Mr. Mohan Lal Parakh and Mr. Hukum Chand Bothra are the company promoters.IPO Details
| IPO Opening Date | Sep 06, 2022 |
| IPO Closing Date | Sep 09, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹40 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹11.40 Cr |
| Fresh Issue | 2,850,000 shares of ₹10 (aggregating up to ₹11.40 Cr) |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.93x | 1.08x | 1.00x | |
| Day 2 | - | - | 2.20x | 3.78x | 2.99x | |
| Day 3 | - | - | 4.66x | 9.88x | 7.27x | |
| Day 4 | - | - | 52.82x | 39.05x | 45.94x |
IPO Tentative Timetable
The Mega Flex Plastics Limited IPO open date is Sep 06, 2022, and the close date is Sep 09, 2022. The issue may list on Sep 16, 2022.
| IPO Open Date | Sep 06, 2022 |
| IPO Close Date | Sep 09, 2022 |
| Basis of Allotment Date | Sep 13, 2022 |
| Initiation of Refunds | Sep 14, 2022 |
| Credit of Shares to Demat Account | Sep 15, 2022 |
| IPO Listing Date | Sep 16, 2022 |
IPO Lot Size
The Mega Flex Plastics Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹120000 |
| Maximum | 1 | 3000 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.79% |
| Post Issue Share Holding | 73.32% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 2999.93 | 3343.16 | 219.85 |
| 31-Mar-21 | 3200.22 | 3108.53 | 128.87 |
| 31-Mar-22 | 3414.68 | 4739.16 | 265.93 |
Objects of the Issue:
The Objects of the Issue are:
A. To meet the working capital requirements
B. To meet the Issue Expenses
C. General Corporate Purposes
Mega Flex Plastics Limited IPO Registrar:
Cameo Corporate Services Limited
Mega Flex Plastics Limited IPO Lead Manager(s):
Finshore Management Services Limited (Past IPO Performance)
Company Contact Information:
Mega Flex Plastics Limited
4, Ho Chi Minh Sarani, Suite-2A, 2nd Floor,
Kolkata
West Bengal
