Mega Flex Plastics IPO
Mega Flex Plastics IPO 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 Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 2999.93 | 3343.16 | 219.85 | 2710.33 | 2534.89 |
| 31-Mar-21 | 3200.22 | 3108.53 | 128.87 | 2839.2 | 2663.75 |
| 31-Mar-22 | 3414.68 | 4739.16 | 265.93 | 3105.13 | 2929.68 |
| Amount in ₹ Lakhs |
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 IPO Details
| Mega Flex Plastics IPO Date | Sep 6, 2022 to Sep 9, 2022 |
| Mega Flex Plastics IPO Face Value | ₹10 per share |
| Mega Flex Plastics IPO Price | ₹40 per share |
| Mega Flex Plastics IPO Lot Size | 3000 Shares |
| Issue Size | 2,850,000 shares of ₹10 (aggregating up to ₹11.40 Cr) |
| Fresh Issue | 2,850,000 shares of ₹10 (aggregating up to ₹11.40 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Company Promoters | M/s. Channel Plastics Private Limited, Mr. Rakesh Sethia, Mr. Mohan Lal Parakh and Mr. Hukum Chand Bothra are the company promoters. |
Mega Flex Plastics IPO Timeline
Mega Flex Plastics IPO opens on Sep 6, 2022, and closes on Sep 9, 2022. The Mega Flex Plastics IPO bid date is from Sep 6, 2022 10.00 A.M. to Sep 9, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Mega Flex Plastics IPO Opening Date | Sep 6, 2022 |
| Mega Flex Plastics IPO Closing Date | Sep 9, 2022 |
| Basis of Allotment | Sep 14, 2022 |
| Initiation of Refunds | Sep 15, 2022 |
| Credit of Shares to Demat | Sep 16, 2022 |
| Mega Flex Plastics IPO Listing Date | Sep 19, 2022 |
IPO Lot Size
The IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.79% |
| Post Issue Share Holding | 73.32% |
IPO Prospectus
- › IPO DRHP
Company Contact Information
Mega Flex Plastics Limited
4, Ho Chi Minh Sarani,
Suite-2A, 2nd Floor,
Kolkata – 700071
Phone: +91 98742 45045
Email: [email protected]
Website: http://www.megaflex.co.in/
IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: [email protected]
Website: https://online.cameoindia.com/
IPO Lead Manager(s)
- Finshore Management Services Limited
