Purv Flexipack Limited, one of the leading providers of flexible packaging solutions, has announced its plan to go public with an Initial Public Offering on February 27, 2024. The company is aiming to raise Rs 40.21 Crore on upper band price through this IPO, with shares set to be listed on the NSE Emerge platform.
The issue size is Up to 56,64,000 equity shares at face value of Rs 10 each. The net proceeds from the IPO will be utilized for the repayment of existing borrowings availed by the company from scheduled commercial banks, Funding Working Capital Requirements, and meeting General Corporate Expenses. The bidding for the Anchor portion will open on February 26, 2024, and the issue will close on February 29, 2024.
Purv Flexipack Limited has been involved in the trading and stockpiling of various flexible packaging materials and related products since its incorporation in 2005. The Company primarily engaged in the distribution of various plastic-based products such as Biaxially Oriented Polypropylene (BOPP) film, Polyester Films, Cast Polypropylene (CPP) films, Plastic granules, Inks, Adhesives, Masterbatches, Ethyl Acedate, and Titanium Dioxide. They offer various packaging solutions to a diverse customer base. Purv Flexipack has a strong foothold in East, marked by strategic partnerships with major corporations. In addition, the company is a Del Credere Associate (DCA) Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation Limited for their polymer division. The warehouse ensures safe storage of products with modern facilities. Their commitment to quality makes them a reliable industry leader.
