Mega Flex Plastics IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 18, 2022Let’s have a detailed review of the company and analytics of the Mega Flex Plastics IPO release date, IPO offer price, subscription, Mega Flex Plastics Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs. 40 |
| Listing At | NSE SME |
| Min. Order Quantity | 3000 shares |
| Listing Date | Sep 19, 2022 |
| Offer for Sale | – |
| Fresh Issue | Rs. 1,140.00 Lakh |
| IPO Size | Rs. 1,140.00 Lakh |
| Tick Size | 1 |
Mega Flex Plastics IPO is listed at a Rs. 30 premium. Check out the live share price by clicking on the below link.
Mega Flex Plastics IPO – Summary
The Company was incorporated and founded by visionary Late Sri Anup Chand Sethia and his son Mr. Rakesh Sethia in the year 2003 having flexible packaging solution in mind and the search for right product and right location.
Mega Flex Plastics Limited is primarily engaged in manufacturing of Leno Bags which is used for packaging of agricultural produces like potatoes, onions, garlic, coconuts, fruits and vegetables. In addition to Leno Bags, our company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread).
The Promoters of this company are M/s.Channel Plastics Private Limited, Mr. Rakesh Sethia,Mr. Mohan Lal Parakh, and Mr. Hukum Chand Bothra. The lead manager to the issue is FINSHORE MANAGEMENT SERVICES LIMITED, and the Registrar to this issue is CAMEO CORPORATE SERVICES LIMITED.
Mega Flex Plastics IPO Date
The opening of Mega Flex Plastics IPO will be on Sep 6, 2022 and the closing date Sep 9, 2022.
Mega Flex Plastics IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 6th Sept | 1.49x | 1.43x | 1.46x |
| 2nd Day – 7th Sept | 1.58x | 1.99x | 1.78x |
| 3rd Day – 8th Sept | |||
| 4th Day – 9th Sept | |||
| Shares Offered or Net Issue | 1,353,000 | 1,353,000 | 2,706,000 |
The shares subscribed by the public will be updated here.
Mega Flex Plastics IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Mega Flex Plastics Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Sep 14, 2022 |
| Refunds Initiation | Sep 15, 2022 |
| Credit of Shares to Demat Account | Sep 16, 2022 |
| Share Listing Date | Sep 19, 2022 |
Mega Flex Plastics IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.40.
Mega Flex Plastics IPO Equity Size
This Initial Public Issue of 28,50,000 Equity Shares of Rs.10 each for cash at a price of Rs.40 per equity share aggregating to Rs.1,140.00 Lakh.
Mega Flex Plastics IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 28,50,000 Equity Shares of Rs.10/ each.
Issue Size: Rs. 28,50,000 Equity Shares of Rs.10 each, aggregating to Rs.1,140.00 Lakh.
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Mega Flex Plastics IPO – Live Performance
The listing date of this IPO is Sep 19, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Mega Flex Plastics Share Price |
Mega Flex Plastics IPO Grey Market Premium
The Mega Flex Plastics Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Mega Flex Plastics IPO – Company Overview
We started with state of art manufacturing facility with production capacity of 23.08 million Bags per year by installing 27 Leno looms in the year 2007. We gradually increased our production capacity by adding looms to our factory and till date, our factory has 60 looms with a production capacity of 51.30 million Bags per year.
The core machinery comprising of an Extrusion Tape Line (melt capacity of 450 kg/hr) and 60 Leno Looms. The efficient and motivated workforce and with thrust on maintaining machine efficiency, we were able to achieve optimum level of production year after year.
Our brands include Lenoflex, Kisan, Kisan Regular, Goldflex, Goldflex Lite, Tiger, Tiranga, Hena. The Lenoflex is most preferred brand for storage of potato when the farmer looks for the quality. We also export Leno Bags to European countries and our quality is well accepted there also.
We are also capable to produce Sutli (fibrillated Twisted Thread) as per the demand.
Mega Flex Plastics IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 3414.68 | 3200.22 | 2999.93 |
| *Total Revenue | 4739.16 | 3108.53 | 3343.16 |
| Total Expense | 4,318.48 | 2,829.38 | 2,977.96 |
| Profit After Tax | 265.93 | 128.87 | 219.85 |
Earnings per Equity Share (in Lakh)
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 15.16 | 7.35 | 12.53 |
Further, their PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs. 265.93 Lakh, Rs. 128.87 Lakh, and Rs. 219.85 Lakh, respectively.
Mega Flex Plastics IPO – Promoters
The Promoter of this company is:
- M/s. Channel Plastics Private Limited
- Mr. Rakesh Sethia
- Mr. Mohan Lal Parakh
- Mr. Hukum Chand Bothra
List of Related Parties (Key Managerial Personnel)
- Mr. Hukum Chand Bothra, Designation changed to Managing Director
- Mr. Sanjay Kumar Singh, Appointed as CFO
- Mr. Mohan Lal Parakh, Re-appointed as Wholetime Director
- Mrs. Parul Mantri, Appointed as Company Secretary
Mega Flex Plastics IPO – Promoters Holding
- Pre Issue Share Holding – 99.79%
- Pos Issue Share Holding – 73.32%
Mega Flex IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 28,50,000 Equity Shares aggregating up to Rs. 1,140.00 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,44,000 Equity Shares aggregating up to Rs.57.60 Lakh |
| Net Issue to the Public | Up to 27,06,000 Equity Shares aggregating up to Rs. 1,082.40 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 50% |
| Other than Retail Individual Investors | Not more than 50% |
| Equity Shares outstanding prior to the Issue | 78,95,025 Equity Shares |
| Equity Shares outstanding after the Issue | 1,07,45,025 Equity Shares |
Mega Flex Plastics IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet the working capital requirements
2. To meet the Issue Expenses
3. General Corporate Purposes
Mega Flex Plastics IPO – Business Strategy
- Focus on Increase in Volume of Sales
- Reduction of operational costs and achieving efficiency
- Quality Assurance
- Improving operational efficiencies
- Leverage and enhance our goodwill in the market
- Leveraging our Market skills and Relationships
- Increasing the customer reach
Mega Flex IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established and proven track record;
- Leveraging the experience of our Promoters;
- Experienced management team and a motivated and efficient work force;
- Cordial relations with our customers
- Quality Assurance & Control
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar -22 | 15.16 | 8.56 | 176.99 |
| 31-Mar-21 | 7.35 | 4.54 | – |
| 31-Mar-20 | 12.53 | 8.11 | – |
Mega Flex Plastics IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Mega Flex Plastics Limited | 10 | 2.64 | 15.16 | 8.56 | 4739.16 |
| Listed Peers | |||||
Mega Flex Plastics IPO Lead Managers
| Lead Managers |
| FINSHORE MANAGEMENT SERVICES LIMITED Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road, Kolkata-700020, West Bengal, India Contact Person: Mr. S. Ramakrishna Iyengar Telephone: 033 – 2289 5101 / 4603 2561 Email: ramakrishna@finshoregroup.com |
Mega Flex Plastics IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED “Subramanian Building”, #1, Club House Road, Chennai – 600 002, India Contact Person: Ms. K. Sreepriya Telephone: +91 – 44 – 40020700 Email: investor@cameoindia.com |
Mega Flex Plastics IPO – Other Details
- Statutory Auditor – M/s. S. Jaykishan, Chartered Accountants
- Legal Counsel to the Company – CANDOUR LEGAL
- Bankers to the Company – ICICI Bank Limited
Mega Flex IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Mega Flex Plastics Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Mega Flex Plastics IPO Review FAQs
Check out various FAQs related to Mega Flex Plastics IPO:
What is the Issue Size of Mega Flex IPO?
The Company is making an initial public offer of 28,50,000 equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Mega Flex IPO?
The price band for this particular IPO ranges between Rs.40. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Mega Flex Plastics IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Sep 6, 2022 , while the closing date is set at Sep 9, 2022.
What is the Mega Flex Plastics IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Sep 14, 2022, refund initiation is on Sep 15, 2022, credit of shares is on Sep 16, 2022, and share listing date is on Sep 19, 2022.
What is the Mega Flex IPO Listing Date?
Shares of this company shall be listed in the exchanges Sep 19, 2022. The date, when the listing would be done, is stagnant on Sep 19, 2022.
Who is the Registrar of Mega Flex Plastics IPO?
One of the reputed registrars is managing the issue of this IPO, CAMEO CORPORATE SERVICES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Mega Flex IPO?
Here are the promoters of this IPO – M/s. Channel Plastics Private Limited, Mr. Rakesh Sethia, Mr. Mohan Lal Parakh, and Mr. Hukum Chand Bothra . You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of Mega Flex Plastics IPO?
We have obtained the GMP of this IPO and it is Rs.. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Mega Flex IPO good for Investment?
We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Mega Flex Plastics Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs. 265.93 Lakh, Rs. 128.87 Lakh, and Rs. 219.85 Lakh, respectively.
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