Bulkcorp Int. is planning to raise up to Rs. 20.78 crore through a public issue
; IPO is scheduled to open on July 30 and close on August 1
The Company is planning to issue 19.79 lakh equity shares of face value of Rs. 10 each in the price band of Rs. 100-105 per share. The shares will be listed on the NSE EMERGE platform of the National Stock Exchange (NSE).
| Highlights:-
· Minimum lot size for application is 1200 shares; Minimum IPO application amount Rs. 1,26,000 · Funds raised through the issue will be used to funding Capital Expenditure towards setting up solar power, meet the working capital requirements, general corporate purposes and issue related expenses · For FY23-24 company reported total revenue of Rs. 46.50 crore and Net Profit of Rs. 3.56 crore · Company has expanded its installed capacity from 2400 MTPA to 4800 MTPA w.e.f. April 20, 2024 · Swastika Investmart Ltd is the lead manager of the issue. |
Ahmedabad, 29 July 2024: Ahmedabad-based Bulkcorp International Ltd one of the leading manufacturers of food grade bags with international standards is planning to raise up to Rs. 20.78 crore from its SME public issue. The company has received approval to launch its public issue on the NSE Emerge platform of the National Stock Exchange of India Limited. The public issue will open for subscription on July 30, 2024 and close on August 1, 2024.
The proceeds of the public issue will be utilized to fund the company’s expansion plans, including capital expenditure towards setting up captive solar power plant, meeting working capital requirements, general corporate purposes, and issue-related expenses. Swastika Investmart Ltd is the lead manager of the issue.
The initial public offering of Rs. 20.78 crore comprises a fresh issue of 19.79 lakh equity shares of face value of Rs. 10 each in the price band of Rs. 100-105 per share. Out of the issue proceeds, the company will utilize Rs. 2.18 crore to set up 500 KWP solar power plant, Rs. 11 crore towards working capital requirements etc. The minimum lot size for the application is 1,200 shares, which translates to an investment of Rs. 1,26,000 per application at higher side of the price band.
The retail investor quota for the IPO is kept at not less than 35% of the net offer, QIB quota is kept at not more than 50% of the offer while HNI quota kept at not less than 15% of the offer. The Promoter and Promoter Group holding pre-issue stands at 98.10% and will become 72.26% post-issue.
Company has expanded its installed capacity from 2400 MTPA to 4800 MTPA w.e.f. April 20, 2024. The company has installed requisite machineries at the new manufacturing plant located at Plot C2- Steel Town, Opp.Nova Petrochemicals, Sarkhej-Bavla Road, Changodar, Gujarat adjacent to its existing manufacturing plant. Company also has taken immovable infrastructure on lease for the period of 8 years admeasuring area of 2000 Sq. yard (1673 Square Mtr Approx).
Incorporated in 2009, Bulkcorp International Ltd is an ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and BRC certified Company, engaged in manufacturing and supply of Food Grade Flexible Intermediate Bulk Container (“FIBC”) bags. It is a leading manufacturers of food grade bags with international standards with range of packaging solutions like FIBC (Jumbo Bags), container liners which are currently used in various industries including fertilizer, cement, sand, food grains, sugar, cattle feed, fish meal, pulses, spices, dates, agro products, minerals, resin, polymers, rubber, etc. The manufacturing unit of the Company is situated at Changodar, Ahmedabad. Company is recognised as one start export house by Ministry of Commerce and Trade. More than 75% of revenue from operations are through exports.
For the FY23-24 ending in March 2024, the company reported a net profit of Rs. 3.56 crore and total revenue of Rs. 46.50 crore as compare to net profit of Rs. 1.21 crore and revenue of Rs. 38.95 crore in the corresponding period of FY22-23.
As on March 2024, the net worth of the company was reported at Rs. 9.34 crore, reserves & surplus at Rs. 3.80 crore, and total assets of Rs. 32.36 crore. The Return on Equity (ROE) of the company was 50.40%, Return on Capital Employed (ROCE) was 40.25%, and Return on Net Worth (RONW) was 38.10%. The statement about the company’s shares being listed on NSE’s Emerge platform.
| IPO Highlights – Bulkcorp International Ltd | |
| IPO Opens on | July 30, 2024 |
| IPO Closes on | August 01, 2024 |
| Issue Price Band | Rs. 100-105 Per Share |
| Issue Size | 19.79 lakh shares – up to Rs. 20.78 crore |
| Lot Size | 1200 Shares |
| Listing on | NSE Emerge Platform of National Stock Exchange of India Limited |
