Purv Flexipack IPO listing: 266% premium over issue price. Check details here - Hindustan Times
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Purv Flexipack IPO listing: 266% premium over issue price. Check details here

Mar 05, 2024 10:33 AM IST

Purv Flexipack IPO listing: Purv Flexipack IPO opened for subscription on February 27 and closed on February 29.

Purv Flexipack IPO listing: Purv Flexipack share price had a listing with 266% premium over the issue price, at 266 a piece on the NSE SME. The initial public offering received a strong response as it was subscribed 421.78 times. 

Purv Flexipack IPO listing: The IPO listed on March 5. Check details here
Purv Flexipack IPO listing: The IPO listed on March 5. Check details here

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In the retail category, the public issue was subscribed 448.73 times while it was subscribed 157.32 times in the QIB and 690.72 times in the NII category. 

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In the Grey market premium, the IPO stood at 130- trading at a premium of 130 over the issue price in the grey market, as per investorgain.com. Owing to this, Purv Flexipack IPO was expected to list at 201 apiece- 183.10% higher than the IPO price of 71.

Read more: Platinum Industries IPO listing: Debut could be at 50% premium. Check GMP here

Purv Flexipack IPO details

Purv Flexipack IPO opened for subscription on February 27 and closed on February 29. The price band had been set in the range of 70 to 71 apiece of face value of 10 each while the lot size was 1,600 shares. The 40.21 crore IPO comprised of a fresh issue of 56,64,000 equity shares with a face value of 10 without an offer-for-sale component.

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Purv Flexipack IPO: Company objectives

Net proceeds from the IPO will be used by the company to finance working capital needs, general corporate purposes and repaying certain current fund-based borrowing, it said. 

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