Issue Detail:
Issue Period: Sep 29, 2011 – Oct 05, 2011
Listing on: BSE, NSE
Issue Size: : 97.88 – 104.63 Crore
Issue Type: 100% Book Building Issue IPO
Issue price: Rs. 145 – Rs. 155
Face Value: Rs.10
Market Lot: 40
Minimum Order Quantity: 40
Rating Agency: CARE
Company Description:
Flexituff International Ltd is today in the business of manufacturing Flexible Intermediate Bulk Containers (FIBC), Geo-Textile Fabric and Ground Cover, Reverse Printed Biaxially Oriented Polypropylene (BOPP) Woven Bags, Special Polypropylene (PP) Bags including Leno Bags.
Company has three integrated and self-sufficient manufacturing units located in Pithampur (M.P.) and Kashipur (Uttrakhand). Flexituff also has a recycling and reprocessing plant at Kandla which is used for recovering polypropylene and making various compounds of plastic.
Flexituff International have a Research and Development centre at Kashipur which is engaged in the research and development of various compounds for plastic products including engineering plastic, bio-degradable plastic and other new product developments.
Company received 4 Top Exporter Awards from Ministry of Commerce for exporting FIBC and woven products from India in recent years.
Objects of the issue:
1. Expansion of manufacturing facilities at SEZ and DTA units at Pithampur;
2. Setting up of Dripper Project at Kashipur;
3. Working capital requirements;
4. General corporate purposes;
5. To meet Issue expenses.
IPO Grading:
CARE has assigned an IPO Grade 3 to Flexituff International IPO. This means as per CARE, company has ‘ Average Fundamentals’. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
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