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Flexituff International to list on Wednesday
Flexituff International, a leading integrated manufacturer of flexible intermediate bulk containers (FIBC), will list its equity shares on exchanges on Wednesday, October 19, 2011.
Flexituff International , a leading integrated manufacturer of flexible intermediate bulk containers (FIBC), will list its equity shares on exchanges on Wednesday, October 19, 2011. The company has fixed issue price at Rs 155 a share.
The initial public offering of 67.5 lakh shares, which opened for subscription during September 29-October 5, was subscribed 1.1 times.
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).
The issue had included offer for sale of up to 22.5 lakh equity shares by Clearwater Capital Partners (Cyprus) Limited.
Flexituff would utilize part of the fresh issue proceeds (of Rs 69.75 crore (out of 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.
