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.
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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.
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.
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.
