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Mega Flex Plastics Limited IPO (Mega Flex Plastics IPO) Detail

September 6, 2022 - September 9, 2022

Mega Flex Plastics IPO is a fixed price issue of Rs 11.40 crores. The issue is entirely a fresh issue of 28.5 lakh shares.

Mega Flex Plastics IPO bidding started from September 6, 2022 and ended on September 9, 2022. The allotment for Mega Flex Plastics IPO was finalized on Wednesday, September 14, 2022. The shares got listed on NSE SME on September 19, 2022.

Mega Flex Plastics IPO price is ₹40 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹240,000.

Finshore Management Services Limited is the book running lead manager of the Mega Flex Plastics IPO, while Cameo Corporate Services Limited is the registrar for the issue.

Refer to Mega Flex Plastics IPO RHP for detailed information.

Mega Flex Plastics IPO Details

IPO Date September 6, 2022 to September 9, 2022
Listing Date September 19, 2022
Face Value ₹10 per share
Price ₹40 per share
Lot Size 3000 Shares
Total Issue Size2,850,000 shares
(aggregating up to ₹11.40 Cr)
Fresh Issue2,850,000 shares
(aggregating up to ₹11.40 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Market Maker portion144,000 shares

Mega Flex Plastics IPO Reservation

Mega Flex Plastics IPO offers 2,850,000 shares. 1,353,000 (47.47%) to NII, 1,353,000 (47.47%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered144,000 (5.05%)
Other Shares Offered1,353,000 (47.47%)
Retail Shares Offered1,353,000 (47.47%)
Total Shares Offered2,850,000 (100%)

Mega Flex Plastics IPO Timeline (Tentative Schedule)

Mega Flex Plastics IPO opens on September 6, 2022, and closes on September 9, 2022.

IPO Open Date Tuesday, September 6, 2022
IPO Close Date Friday, September 9, 2022
Basis of Allotment Wednesday, September 14, 2022
Initiation of Refunds Thursday, September 15, 2022
Credit of Shares to Demat Friday, September 16, 2022
Listing Date Monday, September 19, 2022
Cut-off time for UPI mandate confirmation 5 PM on September 9, 2022

Mega Flex Plastics IPO Lot Size

Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000
HNI (Min) 2 6,000 ₹240,000
Lot Size Calculator

Mega Flex Plastics IPO Promoter Holding

M/s. Channel Plastics Private Limited, Mr. Rakesh Sethia, Mr. Mohan Lal Parakh and Mr. Hukum Chand Bothra are the company promoters.

Share Holding Pre Issue 99.79%
Share Holding Post Issue 73.32%

About Mega Flex Plastics Limited

Mega Flex Plastics Limited is primarily engaged in manufacturing of Leno Bags which are used for packaging agricultural products like potatoes, onions, garlic, coconuts, fruits and vegetables. The company 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 of 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 export Leno Bags to European countries.

Competitive Strengths:

  • Organizational stability along with management expertise.
  • Smooth flow of operations.
  • Well-defined organizational structure.
  • Existing Supplier Relationship.
  • Wide range of Products.

Company Financials

Mega Flex Plastics Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and Surplus
31-Mar-202999.933343.16219.852710.332534.89
31-Mar-213200.223108.53128.872839.22663.75
31-Mar-223414.684739.16265.933105.132929.68
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Mega Flex Plastics IPO is Rs 42.98 Cr.

Pre IPO Post IPO
P/E (x) 16.19

Objects of the Issue (Mega Flex Plastics IPO Objectives)

The Objects of the Issue are:

A. To meet the working capital requirements

B. To meet the Issue Expenses

C. General Corporate Purposes

Mega Flex Plastics IPO Review (May apply)

[Dilip Davda]  The company is operating in a highly competitive and fragmented segment. The sustainability of margins going forward is a major concern. Based on its current financial data, the issue appears fully priced. Hence risk seeker/cash surplus investors may consider an investment with a long-term horizon. Read detail review...


Mega Flex Plastics IPO Subscription Status (Bidding Detail)

The Mega Flex Plastics IPO is subscribed 46.31 times on September 9, 2022 7:00:00 PM. The public issue subscribed 39.75 times in the retail category, times in the QIB category, and 52.86 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
Other52.86
Retail39.75
Total46.31

Mega Flex Plastics IPO Prospectus

Mega Flex Plastics IPO Rating

288
3.6
Rating:Rated 3.6 stars
Vote Here ...

Mega Flex Plastics IPO Listing Details

Listing Date September 19, 2022
BSE Script Code
NSE Symbol MEGAFLEX
ISIN INE0G1D01014
Final Issue Price ₹40 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹40.00
₹54.00
₹51.30
₹56.70
₹56.70

Check IPO Performance…

Mega Flex Plastics Limited Contact Details

Mega Flex Plastics Limited
4, Ho Chi Minh Sarani,
Suite-2A, 2nd Floor,
Kolkata - 700071
Phone: +91 98742 45045
Email: compliance@megaflex.in
Website: http://www.megaflex.co.in/

Mega Flex Plastics IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/

Mega Flex Plastics IPO - Buy or Not

Mega Flex Plastics IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 4 1 0

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Mega Flex Plastics IPO FAQs

Mega Flex Plastics IPO is a SME IPO of 2,850,000 equity shares of the face value of ₹10 aggregating up to ₹11.40 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000 Shares.

The IPO opens on September 6, 2022, and closes on September 9, 2022.

Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Mega Flex Plastics IPO using UPI as a payment gateway. Zerodha customers can apply in Mega Flex Plastics IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Mega Flex Plastics IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Mega Flex Plastics IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Mega Flex Plastics IPO opens on September 6, 2022 and closes on September 9, 2022.

Mega Flex Plastics IPO lot size is 3000 Shares, and the minimum amount required is ₹120,000.

You can apply in Mega Flex Plastics IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Mega Flex Plastics IPO will be done on Wednesday, September 14, 2022, and the allotted shares will be credited to your demat account by Friday, September 16, 2022. Check the Mega Flex Plastics IPO allotment status.

The Mega Flex Plastics IPO listing date is on September 19, 2022.
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Mega Flex Plastics IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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462 Comments

185. Gaurav DD dimer |   Link |  Bookmark |September 29, 2022 2:26:32 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Bought Today at 50.50
185.1. manishji |   Link |  Bookmark |September 29, 2022 11:38:39 PM
Target
185.2. Gaurav DD dimer |   Link |  Bookmark |September 30, 2022 1:20:03 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
UC Today.

Monday Expected Good movement as circuit limit changes from 5% to 20%
184. WhatsInAName |   Link |  Bookmark |September 21, 2022 10:11:16 AM
I have been allotted an sme for the first time. I was waiting for a target of 65. Experts @mravi, @noorul, @lokes, @monsterzero, @ipoelectrifying - can you please guide? Do you think it is prudent to hold until stock hits 65?
184.1. Yuchiro |   Link |  Bookmark |September 21, 2022 2:04:20 PM
Sell it bro.... 62 is a good sell point..... many of us would be happy to buy even at 62..... and 66k is a good profit for first time.....
Stock market will keep checking ur patience.... have trust in the stock else sell it and be relieved....
184.2. WhatsInAName |   Link |  Bookmark |September 21, 2022 2:15:17 PM
It isn’t that I don’t have trust in the stock, it’s that I need the funds to be able to apply in other ipos. I don’t want all my funds to be blocked in a good stock thereby denying me the opportunity to make better profits elsewhere.

Thanks for the suggestion.
183. MRavichandran |   Link |  Bookmark |September 19, 2022 10:42:21 AM
IPO Guru IPO Guru (2000+ Posts, 2700+ Likes)
Could not able to buy in preopen (that Allowed to buy mega 21000 at 51.75 )

Thanks
183.6. Shad |   Link |  Bookmark |September 27, 2022 12:00:47 AM
@MRavichandran Sir : at what price you are looking to sell ?
183.7. WhatsInAName |   Link |  Bookmark |September 27, 2022 12:15:26 PM
@MRavi sir: Even I’d like to know what is the short term target for mega flex at which you’re planning to sell.
182. Yuchiro |   Link |  Bookmark |September 21, 2022 1:51:50 PM
R upstox or angel etc people who bought the lot on 1st day (pre-open) able to sell today?
181. RAKA GANGAPUR |   Link |  Bookmark |September 21, 2022 10:33:35 AM
Hold It if You Can,
Paisa Double in one Year
180. OneSevenSevenOne |   Link |  Bookmark |September 19, 2022 10:49:46 PM
Well, Mr. Anant Aggarwal bought 108,000 shares today in bulk deals. Megaflex preparing to fly.
179. RAKA GANGAPUR |   Link |  Bookmark |September 19, 2022 1:04:23 PM
Where are Those Person Who told that 70/- Rs Rate In Rajkot,

Megaflex Didn't give return as per expectation while Shanti Doot Become Fata Poster Nikla Hero
179.2. IPO Electrifying |   Link |  Bookmark |September 19, 2022 8:19:49 PM
IPO Mentor IPO Mentor (600+ Posts, 400+ Likes)
If you have buy or hold it, it will reach
to 55 to 60 price in few days. Mind it.
Huge Delivery buying seen. I haven't
sold my shares which I buy today at 53.
I will wait till 65. Thank you.
179.3. Takamichi |   Link |  Bookmark |September 19, 2022 10:42:31 PM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
The one you bought today u couldnt have sold anyway..... And it will reach 65 but have to see how it behaves on T+2 day.....
I hope there is good suport at T+2 day
178. SANJEEV SOOD |   Link |  Bookmark |September 19, 2022 9:41:43 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Dont sell in Pre open . This can go Viviana way - 2nd upper circuit.
178.4. Nilaykumar. |   Link |  Bookmark |September 19, 2022 11:21:36 AM
@takamichi 😂 ye share market logo ko kya kya karvata he
178.5. Aman Ipo |   Link |  Bookmark |September 19, 2022 4:42:00 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
😂😂
177. ALOK Ag |   Link |  Bookmark |September 19, 2022 10:48:24 AM
@Mravi followed you and bought two lots around lower circuit as revenge buying
176. Ravu |   Link |  Bookmark |September 19, 2022 9:56:57 AM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Anyone bought in preopen?
176.2. MehulStk |   Link |  Bookmark |September 19, 2022 10:14:02 AM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
I also added one
176.3. arif |   Link |  Bookmark |September 19, 2022 10:38:51 AM
I bought 1 lot in pre-open session
175. XR BourN |   Link |  Bookmark |September 19, 2022 9:07:48 AM
Worst thing is I got allotted in Angel…not able to sell in pre open
175.7. Trueinfo |   Link |  Bookmark |September 19, 2022 9:59:22 AM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
@Ravu, yes it's showing as suspended. You can't place sell order.
175.8. Ayush IIM |   Link |  Bookmark |September 19, 2022 10:20:23 AM
I have sold in preopen through angel broking
174. Goel M |   Link |  Bookmark |September 19, 2022 9:14:47 AM
SELL AT PRE OPENING,
WILL BE SELLING FREEZEEEE..
174.1. Goel M |   Link |  Bookmark |September 19, 2022 10:18:42 AM
Selling Freezeeeeee
173. IPOGUY |   Link |  Bookmark |September 19, 2022 10:01:57 AM
Shantidoot gave more profit than this. Out of box things happening. Welcome to sme ipo
172. SANJEEV SOOD |   Link |  Bookmark |September 19, 2022 9:48:34 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
56.7 is the circuit, will definitely be achieved.
171. Trueinfo |   Link |  Bookmark |September 19, 2022 9:46:50 AM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
Listing 54. My observation, it will go up.
170. i For IPO ☑️ |   Link |  Bookmark |September 19, 2022 9:13:10 AM
IPO Mentor IPO Mentor (600+ Posts, 800+ Likes)
65 -70 Will Be Called Good Listing
170.1. i For IPO ☑️ |   Link |  Bookmark |September 19, 2022 9:37:53 AM
IPO Mentor IPO Mentor (600+ Posts, 800+ Likes)
54 Not So Good Listing
169. IPO guro |   Link |  Bookmark |September 19, 2022 8:07:27 AM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Allotment nahi mila koi baat nahi 100 Kay uper pakad laygay 200 Kay uper nikal laygay.
168. Selvaa |   Link |  Bookmark |September 17, 2022 6:47:23 PM
Any body guess listing price????
Pls share.
168.2. Trueinfo |   Link |  Bookmark |September 18, 2022 8:46:17 PM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
75
168.3. Takamichi |   Link |  Bookmark |September 19, 2022 12:47:00 AM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
2 acche recent ipo nikle hai ...only reason it can go above 70 is the recent two ipos ...if uc of virtuoso breaks tomorrow i see it listing below 65 .....
Not much luck in ipo so i wish it lists in my buying range.....
167. Silent lion |   Link |  Bookmark |September 18, 2022 8:35:17 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Sahukar saheb naffa news aapo....?????!!
166. Takamichi |   Link |  Bookmark |September 18, 2022 3:25:51 AM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
Buy below 60.....
166.6. Takamichi |   Link |  Bookmark |September 19, 2022 12:25:42 PM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
I am one lot person for now .... Neither i have that much funds nor guts to buy more than that for now....
When i will have made a profit equal to my capital i will move for multiple lots ....till then happy with 1
166.7. Nilaykumar |   Link |  Bookmark |September 19, 2022 12:50:50 PM
IPO Guru IPO Guru (1100+ Posts, 500+ Likes)
Okay thanks