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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.
| 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 Size | 2,850,000 shares (aggregating up to ₹11.40 Cr) |
| Fresh Issue | 2,850,000 shares (aggregating up to ₹11.40 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 144,000 shares |
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 Offered | 144,000 (5.05%) |
| Other Shares Offered | 1,353,000 (47.47%) |
| Retail Shares Offered | 1,353,000 (47.47%) |
| Total Shares Offered | 2,850,000 (100%) |
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 |
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 | |||
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% |
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:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 2999.93 | 3343.16 | 219.85 | 2710.33 | 2534.89 |
| 31-Mar-21 | 3200.22 | 3108.53 | 128.87 | 2839.2 | 2663.75 |
| 31-Mar-22 | 3414.68 | 4739.16 | 265.93 | 3105.13 | 2929.68 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Mega Flex Plastics IPO is Rs 42.98 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 16.19 |
The Objects of the Issue are:
A. To meet the working capital requirements
B. To meet the Issue Expenses
C. General Corporate Purposes
[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...
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)
| Category | Subscription (times) |
|---|---|
| Other | 52.86 |
| Retail | 39.75 |
| Total | 46.31 |
| Listing Date | September 19, 2022 |
| BSE Script Code | |
| NSE Symbol | MEGAFLEX |
| ISIN | INE0G1D01014 |
| Final Issue Price | ₹40 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹40.00 |
| ₹54.00 |
| ₹51.30 |
| ₹56.70 |
| ₹56.70 |
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/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
SME Company Owners
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Check our SME IPO Guide 
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
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.
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