632 Investors following Flexituff Inter. Share this News with them.
0
Like this story, share it with millions of investors on M3
Flexituff International IPO fully subscribed
The initial public offering of Flexituff International, a leading integrated manufacturer of flexible intermediate bulk containers (FIBC), has subscribed just 1.1 times, as per data available on NSE website.
The initial public offering of Flexituff International , a leading integrated manufacturer of flexible intermediate bulk containers (FIBC), has subscribed just 1.1 times, as per data available on NSE website.
The issue has received bids for more than 77 lakh equity shares as against issue size of 67.5 lakh shares. The issue included offer for sale of up to 22.5 lakh equity shares by Clearwater Capital Partners (Cyprus) Limited.
The company currently manufactures FIBC, geo-textile fabric and ground cover, reverse printed BOPP woven bags, special PP bags including leno bags. These products are manufactured at the three manufacturing units located in Pithampur (MP) and Kashipur (Uttrakhand).
Flexituff would utilize part of the fresh issue proceeds (of Rs 69.75 crore at higher end of price band of Rs 145-155/share) towards expansion of its manufacturing facilities at SEZ and DTA units at Pithampur and for setting up of Dripper project at Kashipur.
