Key Objective
Initial public offer of 56,64,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Purv Flexipack Limited ("The Company" or "Company" or "Issuer") for cash at a price of Rs. 71 per equity share (including a share premium of Rs. 61 per equity share), aggregating to Rs. 40.21 crores* ("The Issue"). This issue includes a reservation of 3,48,800 equity shares aggregating to Rs. 2.48 crores (constituting up to 1.66 % of the post-issue paid up equity share capital of the company) for subscription by the market maker ("Market Maker Reservation Portion"). The issue less market maker reservation portion is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 26.99% and 25.33% respectively of the fully diluted post issue paid up equity share capital of the company.
The company, in consultation with the book running lead manager, has undertyaken a pre-ipo placement of 12,00,000 equity shares for cash consideration aggregating to Rs. 8.52 crores. The size of the fresh issue as disclosed in the draft red herring prospectus, aggregating up to 68,64,000 equity shares, has been reduced by 12,00,000 equity shares pursuant to the pre-ipo placement, and accordingly, the fresh issue is for an aggregate up to 56,64,000 equity shares and the minimum issue size shall constitute at least 10% of the post-issue paid-up equity share capital of the company, in compliance with rule 19(2)(b) of the scrr.
The face value of the equity shares is Rs. 10/- each and the issue price of Rs. 7.00 is 7.10 times of the face value of the equity shares