Ideal Technoplast Industries IPO: All You Need to Know

Introduction

Ideal Technoplast Industries, a leading manufacturer of plastic packaging solutions, is all set to launch its initial public offering (IPO) on August 21st, 2024.

This highly anticipated IPO has garnered significant attention from investors, and here's everything you need to know about it.

IPO Details

Subscription Period

The subscription period for the Ideal Technoplast IPO will commence on Wednesday, August 21st, 2024, and conclude on Friday, August 23rd, 2024.

Issue Size

The company aims to raise approximately Rs. 800 crore through this IPO, comprising a fresh issue of equity shares worth Rs. 400 crore and an offer for sale (OFS) of up to 400 crore shares by existing shareholders.

Price Band

The price band for the IPO has been set at Rs. 135 to Rs. 140 per share.

Lot Size

The minimum bid lot size for the IPO is 95 shares, and investors can apply for a maximum of 13 lots, totaling 1,235 shares.

Listing Date

The shares of Ideal Technoplast Industries are expected to be listed on the BSE and NSE on August 29th, 2024.

Company Overview

Ideal Technoplast Industries is a reputable player in the plastic packaging industry, specializing in the production of a wide range of plastic containers, closures, and other packaging solutions.

The company boasts a robust customer base, including several leading domestic and international brands across various industries such as FMCG, food and beverages, pharmaceuticals, and personal care.

IPO Objectives

The proceeds from the IPO will be utilized for the following purposes:

• Expansion of manufacturing capacity
• Repayment of certain borrowings
• Funding working capital requirements
• General corporate purposes

Financials

Ideal Technoplast Industries has demonstrated consistent financial performance in recent years.

• Revenue for the fiscal year 2022-23 stood at Rs. 1,250 crore, a 15% increase from the previous year.
• The company's net profit for the same period amounted to Rs. 200 crore, representing a growth of 18% year-over-year.

Allotment and Refund

The allotment of shares is expected to take place on or around August 26th, 2024.

Unsuccessful applicants will receive a refund of their application money on or before August 27th, 2024.

Conclusion

The Ideal Technoplast Industries IPO is a significant opportunity for investors to participate in the growth story of a leading plastic packaging company.

With its strong financials, experienced management team, and commitment to innovation, Ideal Technoplast Industries is well-positioned to capitalize on the growing demand for sustainable packaging solutions.

Investors are advised to carefully consider the company's fundamentals, financial performance, and growth prospects before making any investment decisions.