A leading integrated manufacturer of Flexible Intermediate Bulk Containers (“FIBC”) , Flexituff International Limited, is entering the Indian Capital Markets with its IPO (Initial Public Offer) for 67.50 lakh Equity Shares including Offer for Sale of up to 22.50 lakh equity shares by Clearwater Capital Partners (Cyprus) Limited of Face Value of Rs. 10/- each. 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 (M.P.) and Kashipur (Uttrakhand).
Price Band..!The price band of the issue has been fixed from Rs. 145 to Rs. 155. The Equity Shares of the Company are proposed to be listed on the BSE ( Bombay Stock Exchange Limited) and NSE (National Stock Exchange of India Limited.)
The Issue would constitute 31.09% of the fully diluted post issue paid-up capital of the Company. The Issue will be through a 100% Book Building process. Not more than 50% of the Issue shall be allocated on a proportionate basis to qualified institutional buyers (QIBs), not less than 15% of the Issue shall be available to non-institutional bidders and not less than 35% of the Issue shall be available to retail individual bidders.
The Company may consider participation by Anchor Investors in the Issue for up to 30% of the QIB Portion.
The Company would utilize part of the Fresh Issue proceeds towards expansion of its manufacturing facilities at SEZ and DTA units at Pithampur and for setting up of Dripper Project at Kashipur. Collins Stewart Inga Private Limited is the sole Book Running Lead Manager to the Issue.
About Flexituff International :Flexituff International Limited is a leading integrated manufacturer of Flexible Intermediate Bulk Containers (FIBC). The manufacturing facility of the Company at SEZ, Pithampur is one of the few American Institute of Baking (AIB) and British Retail Consortium (BRC) compliant clean room facilities in the world, which has created the brand recognition in the international and domestic market.
The Company has ISO Certifications for environment management and food safety, international certifications like Det Norske Veritas (DNV) for quality systems and BRC and AIB for global food safety packaging standards. The company has received the Top Exporter Award from the PLEXCONCIL, Ministry of Commerce from 2005-06 until now every year.
FIL’s Sales on consolidated basis has grown at a CAGR of 37.9% from Rs 2,202 mn in FY08 to Rs 5,779 mn in FY11 with approx 76% of the revenue being derived from exports while over the same period its total installed capacity for all the products has increased from 23,000 MT to 48,500 MT (FIBC - 25,000 MT). The EBDITA has grown from Rs 291 mn in FY08 to Rs 769 mn in FY11 depicting a growth at a CAGR of 38.3%.
Price Band..!The price band of the issue has been fixed from Rs. 145 to Rs. 155. The Equity Shares of the Company are proposed to be listed on the BSE ( Bombay Stock Exchange Limited) and NSE (National Stock Exchange of India Limited.)
The Issue would constitute 31.09% of the fully diluted post issue paid-up capital of the Company. The Issue will be through a 100% Book Building process. Not more than 50% of the Issue shall be allocated on a proportionate basis to qualified institutional buyers (QIBs), not less than 15% of the Issue shall be available to non-institutional bidders and not less than 35% of the Issue shall be available to retail individual bidders.
The Company may consider participation by Anchor Investors in the Issue for up to 30% of the QIB Portion.
The Company would utilize part of the Fresh Issue proceeds towards expansion of its manufacturing facilities at SEZ and DTA units at Pithampur and for setting up of Dripper Project at Kashipur. Collins Stewart Inga Private Limited is the sole Book Running Lead Manager to the Issue.
About Flexituff International :Flexituff International Limited is a leading integrated manufacturer of Flexible Intermediate Bulk Containers (FIBC). The manufacturing facility of the Company at SEZ, Pithampur is one of the few American Institute of Baking (AIB) and British Retail Consortium (BRC) compliant clean room facilities in the world, which has created the brand recognition in the international and domestic market.
The Company has ISO Certifications for environment management and food safety, international certifications like Det Norske Veritas (DNV) for quality systems and BRC and AIB for global food safety packaging standards. The company has received the Top Exporter Award from the PLEXCONCIL, Ministry of Commerce from 2005-06 until now every year.
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