Purv Flexipack IPO: This IPO is making waves in the Graymarket, Read full Details

Purv Flexipack IPO: In the gray market, Purv Flexipack IPO is receiving a great deal of support. Today, February 27, is the first day that the former Flexipack IPO is open, and it will stay accessible until February 29. We will study about purv Flexipack IPO GMP, price band, lot size, allotment, listing, and other topics in this essay today.

Purv Flexipack IPO
Purv Flexipack IPO

Purv Flexipack IPO Details:

If you also want to invest in an IPO, then this is useful news for you because another company has come with its IPO. The name of that company is purv flexipack limited. The former Flexipak IPO is open for subscription from today i.e. Tuesday, February 27, 2024 and will close on Thursday, February 29, 2024. This means that investors can place bets in this IPO till 29th February.

IPO Open DateTuesday, February 27, 2024
IPO Close DateThursday, February 29, 2024
Price Band₹70 to ₹71 per share
Lot Size1600 shares
Fresh Issue5,664,000 shares
Basis of AllotmentFriday, March 1, 2024
Listing DateTuesday, March 5, 2024
Face Value₹10 per share
Issue TypeBook Built Issue IPO
Listing AtNSE, SME

Price Band and Lot Size:

Purv Flexipack IPO is an SME IPO. The price band of the pre-Flexipak IPO has been Rs 70 to Rs 71 per share. The lot size of the IPO is 1600 shares. Investors will have to invest at least Rs 113,600 in the pre-Flexipak IPO. Whereas for HNI the minimum lot size investment is two lots, which amounts to Rs 227,200. The company wants to raise Rs 40.21 crore through pre-Flexipak IPO

Purv Flexipack IPO Allotment:

Shares will be allotted to investors who placed stakes in the pre-Flexipack IPO on Friday, March 1, 2024. The former Flexipak IPO is a book-built issue of Rs 40.21 crore. This issue is a fresh issue of total of 56.64 lakh shares. The former Flexipak IPO did not involve an offer for sale (OFS).

Purv Flexipack IPO

Purv Flexipack IPO Listing:

The listing of the former Flexipak IPO will take place on Tuesday, March 5, 2024. The IPL will be listed on the SME platform of the National Stock Exchange (NSE). The promoters of the company are Mr. Rajeev Goenka, Mrs. Poonam Goenka, and M/s Purva Logistics Pvt. Ltd. 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Purv Flexipack IPO GMP:

The former Flexipak IPO is trading at a premium of Rs 125 in the gray market today, Investor Gain reports. This means that investors can make a profit of 176.06% on the very first day. Accordingly, the listing of pre-Flexipak IPO can be at 196.

About Purv Flexipack Limited:

Formerly Flexipack Limited was established in 2005. The company is mainly engaged in distribution of various plastic based products such as Biaxially Oriented, Polypropylene Film, Polyester Film. Apart from this it is also Indian Oil Corporation Associate and Dollar Operated Polymer Warehouse for its Polymer Division.

The company will use the funds raised through the IPO to repay existing borrowings from scheduled commercial banks, finance working capital requirements and meet general corporate objectives.

Purv Flexipack ipo

Disclaimer:

The information given on Times Updates does not constitute any investment advice. Before investing in the share market, definitely take advice from a certified expert.

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