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Rajshree Polypack plans to raise ₹36 crore through an IPO. The company will issue 29.6 lakh equity shares of ₹10 face value in a price band of ₹119 – ₹121. The stock will be listed on the NSE Emerge platform.
The IPO will open for subscription between September 10 and 12. The book-running lead manager to the issue is PL Capital Markets. Offered at 10.37 PE, the bids for shares can be made for a minimum of 1,000 equity shares and in multiples of 1,000 equity shares.
The company has reserved 50 per cent of the IPO for QIBs, 15 per cent for non-institutional investors, and 35 per cent for retail individual investors.
Rajshree Polypack, which makes packaging material for FMCG companies, plans to use the IPO proceeds for setting up a fourth factory in Daman. It already has three units with annual capacity of over 10,000 tonnes and over 100 products in Daman.
The company plans to expand its customer base in the US and the UK, increase its footprint in South-East Asia, improve operational efficiency, and co-develop products with key customers in India.
Rajshree Polypack’s revenue last fiscal stood at ₹112 crore, against ₹95 crore logged in the previous year. Net profit increased to ₹9.31 crore (₹8.86 crore). It registered a CAGR of 20 per cent in revenue and 135 per cent in net profit in the last four years.
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