Bulkcorp International IPO listing: Bulkcorp International share price debuts at a 24% premium on NSE

Bulkcorp International IPO listing: Broadly in sync with the trends observed in the grey market in the last couple of days, shares of Bulkcorp International made a healthy debut on the Indian stock market on Tuesday, August 6. Bulkcorp International share price was listed at a premium of 24 per cent at ₹130 apiece on NSE against its issue price of ₹105. The stock further extended its gains and rose 30 per cent to hit the level of ₹136.50. Around 10:50 am, the stock traded at ₹133.15 apiece.

Bulkcorp International IPO details

The initial public offering (IPO) of Bulkcorp International witnessed a solid subscription of nearly 265 times.

According to media reports, the issue received an overall bet for 34,87,11,600 shares against 1,316,400 offered. The retail segment saw a subscription of 362.17 times, receiving bids for 23,85,99,600 shares against 658,800 offered. The segment reserved for non-institutional buyers saw a subscription of 251.39 times, while the qualified institutional buyer's segment subscribed 104.42 times.

The ₹20.78 crore worth Bulkcorp International IPO included a fresh issuance of 1,978,800 equity shares with a face value of ₹10.

The IPO opened for subscription on Tuesday, July 30, and ended on Thursday, August 1. Share allotment was finalised on Friday, August 2.

Bulkcorp International manufactures and supplies food-grade flexible intermediate bulk container (FIBC) bags. The company's production facility is located in Changodar, Ahmedabad.

Between March 31, 2024, and March 31, 2023, Bulk Corp International's profit after tax (PAT) climbed by 193.6 per cent and its revenue by 19.37 per cent, respectively.

According to the company's RHP, its PAT in FY24 stood at ₹3.6 crore against ₹1.21 crore in FY23. Revenue from operations for the last financial year came at ₹45.18 crore against ₹38.5 crore in FY23.

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