Mega Flex Plastics Ltd’s Rs. 11.40 crore public issue on NSE EMERGE platform opens for subscription on 6th September

Firm to subject 28.5 lakh Fairness shares of Rs. 10 face worth at a value of Rs. 40 per share; Suggest to get checklist SME EMERGE Platform of NSE

Mumbai, September 3: Packaging Options firm Mega Flex Plastics Ltd – one of many main producers of Leno Luggage used for packaging of agricultural merchandise and Woven Materials is scheduled to open its Rs. 11.40 crore public subject for subscription on September 6. The corporate acquired approval to launch its public subject on the SME Emerge Platform of the Nationwide Inventory Alternate. Public subject proceeds shall be utilised to fund the corporate’s growth plans, working capital necessities and common company functions. Finshore Administration Providers Ltd is the lead supervisor of the problem. The general public subject will shut on September 9.

The preliminary public providing will comprise a contemporary subject of 28.5 lakh fairness shares of face worth Rs. 10 every at a value of Rs. 40 per share (together with a premium of Rs. 30 per fairness share), aggregating Rs. 11.40 crore. The minimal lot measurement for the appliance is 3,000 shares which translate into Rs. 1.2 lakh per utility. Retail allocation for the IPO is 50% – 13.53 lakh shares totalling Rs. 5.70 crore.

Firm’s Management group consists of Mr. Mohan Lal Parakh, Mr. Hukum Chand Bothra and Mr. Rakesh Sethia, who’ve a number of a long time of expertise within the discipline of packaging options.

Commenting on the event, Mr. Hukum Chand Bothra, Managing Director, Mega Flex Plastics Ltd, mentioned, “Our focus is on rising gross sales quantity via growth, diversification and increasing geographical outreach. In the previous few years, now we have expanded our operations past West Bengal, and our emphasis is on catering to different states’ necessities, primarily Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh and Punjab additionally, aside from West Bengal. The corporate can be pursuing quite a lot of alternatives to extend its manufacturing capability by processing materials into baggage. With this elevated manufacturing capability, we will additionally develop our shopper base geographically. We’re hopeful that after the proposed public subject, we will execute our progress technique in a fashion that creates exponential worth for all stakeholders whereas persistently delivering high quality merchandise.”

For the FY21-22 firm reported whole income of Rs. 47.39 crores, EBITDA of Rs. 4.21 crore and Internet Revenue of Rs. 2.66 crores. Internet Value and Reserves & Surplus of the corporate submit subject will stand at Rs. 42.45 crore and Rs. 31.05 crores respectively. E-book worth per share as on 31 March 2022 is Rs. 176.99 per share. RONW, as on March 22, stands at 8.56%. Submit-issue share capital of the corporate will improve to Rs. 10.74 crores. Promoter group holding within the firm at the moment stands at 99.79%, which is able to stand at 73.32% post-issue. Shares of the corporate shall be listed on NSE Emerge platform.

Established within the 12 months 2003, Mega Flex Plastics Ltd is primarily engaged within the manufacturing of Leno Luggage that are used for packaging agricultural produce like potatoes, onions, garlic, coconuts, vegatables and fruits. Along with Leno Luggage, our firm can be manufacturing Woven Material and Sutli (Fibrillated Twisted Thread). The product which we majorly manufacture i.e., Leno Luggage, is constructed from Plastic Granules and is used a number of occasions for storage of vegatables and fruits. Firm’s manufacturers embody Lenoflex, Kisan, Kisan Common, Goldflex, Goldflex Lite, Tiger, Tiranga, and Hena. The Lenoflex is probably the most most well-liked model for storage of potatoes when the farmer appears to be like for high quality. Firm additionally export

Leno Luggage to European nations and our high quality is properly accepted there additionally.

The corporate has a state-of-the-art plant for manufacturing PP Leno Luggage located at Sudha Ras Meals & Poly Park (Industrial Park), Howrah, within the state of West Bengal, India. The plant is strategically situated on NH-6, about 120 km from the worldwide all-weather port of Haldia and round 30 km from Kolkata port, which supplies it glorious connectivity and transport amenities.

Disclaimer: This submit has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor

Open in app