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

Sep 6, 2022 - Sep 9, 2022

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

Objects of the Issue

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 Details

Mega Flex Plastics IPO Date Sep 6, 2022 to Sep 9, 2022
Mega Flex Plastics IPO Face Value ₹10 per share
Mega Flex Plastics IPO Price ₹40 per share
Mega Flex Plastics IPO Lot Size 3000 Shares
Issue Size2,850,000 shares of ₹10
(aggregating up to ₹11.40 Cr)
Fresh Issue2,850,000 shares of ₹10
(aggregating up to ₹11.40 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
NII (HNI) Shares Offered50% of the net offer
Retail Shares Offered50% of the net offer
Company Promoters

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

Mega Flex Plastics IPO Timeline (Tentative Timetable)

Mega Flex Plastics IPO opens on Sep 6, 2022, and closes on Sep 9, 2022. The Mega Flex Plastics IPO bid date is from Sep 6, 2022 10.00 A.M. to Sep 9, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Mega Flex Plastics IPO Opening Date Sep 6, 2022
Mega Flex Plastics IPO Closing Date Sep 9, 2022
Basis of Allotment Sep 14, 2022
Initiation of Refunds Sep 15, 2022
Credit of Shares to Demat Sep 16, 2022
Mega Flex Plastics IPO Listing Date Sep 19, 2022

Mega Flex Plastics IPO Lot Size

The Mega Flex Plastics IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000

Mega Flex Plastics IPO Promoter Holding

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

Mega Flex Plastics IPO Review

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 Sep 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)
NII52.86
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 Date

Listing Date Monday, September 19, 2022
BSE Script Code
NSE Symbol MEGAFLEX
Listing In ST Group of Securities
ISIN INE0G1D01014
IPO Price ₹40 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹40.00
Open: ₹54.00
Low: ₹51.30
High: ₹56.70
Last Trade: ₹56.70

Company Contact Information

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 Review

Mega Flex Plastics IPO Recommendation Summary

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

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IPO Broker Recommendations

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 Sep 6, 2022, and closes on Sep 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 Sep 6, 2022 and closes on Sep 9, 2022.

Mega Flex Plastics IPO lot size is 3000 Shares and the minimum order quantity is .

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

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

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