Flexituff International Ltd–An IPO worth investment in India

We present below an IPO which can be considered for listing gains and in this high pressure scenario, one can invest and book profit more than 50% on the day of listing or a bit more by holding for few more days from the day of listing as by than the selling from new allotters will dry down.  We will revisit this page again on the day of listing and will post the news about the stock.

History of Stock

Incorporated in 1966 as Saurabh Potteries & Ceramics, 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. Check out Presentation for Investors by Flexituff International.

Company Promoters:
The promoters of the company are:
1. Kalani Industries Pvt Ltd (KIPL)
2. Miscellani Global Pvt Ltd (MGPL)
3. Sanovi Trading Pvt Ltd (STPL)

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.

Issue Detail:

  »»  Issue Open: Sep 29, 2011 - Oct 05, 2011
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: 6,750,000 Equity Shares of Rs. 10
  »»  Issue Size: Rs. 104.63 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. 145 - Rs. 155 Per Equity Share
  »»  Market Lot: 40 Shares
  »»  Minimum Order Quantity: 40 Shares
  »»  Listing At: BSE, NSE
Flexituff International 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.

IPO Listing Update

Flexituff International zoomed 7% to close at Rs 282 on the Bombay Stock Exchange, thereby appreciating over 88% from its issue price of Rs 155. (listed on November 19) As many as nine million shares changed hands on the BSE and NSE counter today as against an average of 2.5 million shares traded daily in the past two weeks. The leading integrated manufacturer of flexible intermediate bulk containers (FIBC) had raised Rs 105 crore through the initial public offer (IPO). The issue had included offer for sale of up to 2.25 million equity shares by Clearwater Capital Partners (Cyprus) Limited.