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Mega Flex Plastics IPO

Mega Flex Plastics Limited Logo

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 EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and Surplus
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 DateSep 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 Size3000 Shares
Issue Size2,850,000 shares of ₹10
(aggregating up to ₹11.40 Cr)
Fresh Issue2,850,000 shares of ₹10
(aggregating up to ₹11.40 Cr)
Issue TypeFixed Price Issue IPO
Listing AtNSE SME
NII (HNI) Shares Offered50% of the net offer
Retail Shares Offered50% of the net offer
Company PromotersM/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.

Mega Flex Plastics IPO Opening DateSep 6, 2022
Mega Flex Plastics IPO Closing DateSep 9, 2022
Basis of AllotmentSep 14, 2022
Initiation of RefundsSep 15, 2022
Credit of Shares to DematSep 16, 2022
Mega Flex Plastics IPO Listing DateSep 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).

Retail (Min)13000₹120,000
Retail (Max)13000₹120,000

IPO Promoter Holding

Pre Issue Share Holding99.79%
Post Issue Share Holding73.32%

IPO Prospectus

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]

IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390
Email: [email protected]

IPO Lead Manager(s)

  1. Finshore Management Services Limited