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Flexituff International ends with 7% premium on debut
Flexituff International, a leading integrated manufacturer of flexible intermediate bulk containers (FIBC), closed with 7% premium at Rs 165.55 a share on listing day.
Flexituff International , a leading integrated manufacturer of flexible intermediate bulk containers (FIBC), closed with 7% premium at Rs 165.55 a share on listing day. The stock has touched an intra-day high of Rs 187.70 and low of Rs 142, after opening at Rs 156.90 on the National Stock Exchange.
Total traded volume on BSE as well as NSE was nearly 4 crore equity shares - 6 times higher than issue size of 67.5 lakh shares.
The company currently manufactures FIBC, geo-textile fabric and ground cover, reverse printed BOPP woven bags, special PP bags including leno bags.
Flexituff would utilize part of the fresh issue proceeds (of Rs 69.75 crore (out of total issue size of Rs 104.63 crore)) towards expansion of its manufacturing facilities at SEZ and DTA units at Pithampur and for setting up of Dripper project at Kashipur.
