Mega Flex Plastics IPO will hit Dalal street on 06 September 2022. the company aims for an issue size of ₹11.40 Cr through this fixed price issue IPO.
Mega Flex Plastics Limited
The company is primarily engaged in manufacturing Leno Bags which are used for packaging agricultural products like potatoes, onions, garlic, coconuts, fruits, and vegetables. It 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 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 exports Leno Bags to European countries.
Major Competitive Strengths
- Organizational stability.
- Superb management expertise.
- Highly defined organizational structure.
- Strong Relationship with suppliers.
- Diversified product portfolio.
Objects of the Issue
- Working capital requirements.
- For meeting the Issue Expenses.
- General Corporate Purposes.
Basic details about the company
| Full name | Mega Flex Plastics Limited |
| Sector | Plastic products |
| Industry | Plastic products |
| Company Website | www.megaflex.co.in |
Dates to remember
| IPO Opening date | 07 September 2022 |
| IPO Closing | 09 September 2022 |
| Basis of Allotment | – September 2022 |
| Initiation Refunds | – September 2022 |
| Credit to Demat Account | – September 2022 |
| Listing Date | – September 2022 |
Mega Flex Plastics IPO Details
| Subscription Dates | 6 – 9 September 2022 |
| Issue Type | Fixed Price Issue |
| Price Band | INR 40 per share |
| Fresh issue | 28,50,000 shares (INR 11.40 crore) |
| Offer For Sale | Nil |
| Total IPO size | 28,50,000 shares (INR 11.40 crore) |
| Minimum bid (lot size) | 3,000 share |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | NSE SME |
Mega Flex Plastics IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
Mega Flex Plastics Financial Performance
| FY2020 | FY2021 | FY2022 | |
| Revenue | 3,343.16 | 3,108.53 | 4,739.16 |
| Expenses | 2,977.96 | 2,829.38 | 4,318.48 |
| Net income | 219.85 | 128.87 | 265.93 |
Mega Flex Plastics Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 12.53 | 7.35 | 15.16 |
| PE ratio | – | – | 2.64 |
| RONW (%) | 8.11 | 4.54 | 8.56 |
| NAV | – | – | 39.33 |
| Debt/Equity ratio | 0.01 | 0.01 | – |
| ROCE (%) | 0.11 | 0.07 | 0.12 |
Company Promoters
- M/s. Channel Plastics Private Limited
- Mr. Rakesh Sethia
- Mr. Mohan Lal Parakh
- Mr. Hukum Chand Bothra
Mega Flex Plastics IPO Promoter Holding
| Pre Issue Share Holding | 99.79% |
| Post Issue Share Holding | 73.32% |
Lead Manager(s)
- Finshore Management Services Limited
Mega Flex Plastics IPO Registrar
Cameo Corporate Services Limited
Subramanian Building,
#1, Club House Road,
Chennai – 600 002, India
Phone: +91-44-40020700, 28460390
Email: investor@cameoindia.com
Website: www.cameoindia.com
Mega Flex Plastics Contact Details
Mega Flex Plastics Limited
4, Ho Chi Minh Sarani, Suite-2A,
2nd Floor, Kolkata – 700071,
West Bengal, India
Phone: +91 98742 45045
Email: compliance@megaflex.in
Website: www.megaflex.co.in
Mega Flex Plastics IPO Allotment Status
Mega Flex Plastics IPO allotment will be available on Cameo Corporate Services’ website.
Click on this link to get allotment status.
Final thoughts
Mega Flex Plastics IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
