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Business News/ Markets / Stock Markets/  Purv Flexipack share price lists with stellar 266% premium over the issue price, at 260 a piece on the NSE SME
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Purv Flexipack share price lists with stellar 266% premium over the issue price, at ₹260 a piece on the NSE SME

Purv Flexipack share price share price saw a strong debut , listing with 266% premium over the issue price of ₹71, at ₹260 a piece on the NSE SME.

Purv Flexipack share price see a stellar debut (https://www.purvflexipack.in/)Premium
Purv Flexipack share price see a stellar debut (https://www.purvflexipack.in/)

Purv Flexipack share price saw a strong listing with stellar  266% premium over the issue price, at 266 a piece on the NSE SME

Purv Flexipack IPO had received strong response from the investors as was visible from  421.78 times subscription . The public issue was subscribed 448.73 times in the retail category, 157.32 times in the QIB, and 690.72 times in the NII category by February 29, 2024 

The Grey market premium also indicated towards strong gains. The Purv Flexipack IPO GMP or grey market premium stood at 130. This indicates Purv Flexipack share price were trading at a premium of 130 over the issue price in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Purv Flexipack IPO  was expected to list at 201 apiece, which was 183.10% higher than the IPO price of 71.

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Purv Flexipack IPO opened for subscription on Tuesday, February 27, and closed on Thursday, February 29. Purv Flexipack IPO price band had been set in the range of 70 to 71 apiece of face value of 10 each. Purv Flexipack IPO lot size was 1,600 shares.

Purv Flexipack IPO was a book built issue of 40.21 crore comprising a fresh issue of 56,64,000 equity shares with a face value of 10. There was no offer-for-sale component.

The company intends to use the net proceeds of the new issue to finance its objectives of meeting the company's working capital needs; financing general corporate purposes; and fully or partially repaying certain current fund-based borrowings that the company obtained from scheduled commercial banks.

Also Read- Koura Fine Diamond Jewelry IPO: Check price band, issue size, GMP, other key details

The main business activity of Purv Flexipack is the distribution of several plastic-based products, including polyester films, cast polypropylene (CPP) films, biaxially oriented polypropylene (BOPP) film, plastic granules, inks, adhesives, masterbatches, ethyl acedate, and titanium dioxide. Furthermore, for Indian Oil Corporation Limited's polymer sector, the company is a Dealer operated polymer warehouse (DOPW) and a Del Credere Associate (DCA). 

Between March 31, 2022, and March 31, 2023, Purv Flexipack Limited's profit after tax (PAT) climbed by 31.82% and its revenue increased by 48.66%.

 

 

 

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ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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Published: 05 Mar 2024, 10:01 AM IST
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