Rajshree Polypack Limited has allocated the Anchor portion of 8.33 lakh equity shares to marquee investor Sunil Singhania's Abakkus Growth Fund -1 for an aggregate consideration of Rs. 999.60 Lakhs. The IPO of Thane based Rajshree Polypack Limited opens on 10 September. The shares allocated to the Anchor Investor are locked-in for a period of 30 days.
The equity shares of Rajshree Polypack will be listed on the Emerge Platform of National Stock Exchange of India Limited. The Book Running Lead Manager to the Issue is PL Capital Markets Private Limited, part of the Prabhudas Lilladher Group. The earliest closing date of the IPO will be September 12, 2018.
Offered at the Price to Earning (PE) ratio of 10.37 (based on the cap price of the price band and the EPS for year ending March 31, 2018), the Bids for shares can be made for a minimum of 1,000 equity shares and in multiples of 1,000 equity shares thereafter. The IPO size, after allocation to Anchor Investor, available for Qualified Institutional Buyers (QIBs) is 5.72 Lakh equity shares; while not less than 4.22 Lakh equity shares (15% IPO size) are available for Non-Institutional Investors (NIIs); and not less than 9.85 Lakh equity shares (35% IPO size) are available for Retail Individual Investors (RIIs).
After setting up three Factory Units in Daman, with an annual capacity for extrusion of over 10,000 MT and currently manufacturing more than 100 products, Rajshree Polypack is launching its IPO with the principle objective of financing the setting up of its fourth Factory Unit at Daman.
Rajshree Polypack Limited makes rigid plastic packaging products in various shapes and sizes. It has a diversified range catering to the dairy, beverages, FMCG, QSR and the retail sector. The strategies of the Company include focusing on operational efficiencies to improve returns, continually co-develop products with their key customers, focus on products and material that have a higher margin and expand their customer base to US and UK; and further increase their footprint in the Middle East.
Rajshree Polypack has clocked a CAGR growth of 19.97% in its revenue from operations and a CAGR growth 134.66% in Net Profits in the last four years.