Plastene India IPO: Review Analysis & Details of PIL IPO: Finance Trading Times

Plastene India IPO: Review Analysis & Details of PIL IPO

Plastene India IPO Details, Review, Analysis, Opinion and information on Plastene India IPO
In this article we will look upon the Details, Review, Analysis of the Plastene India IPO.

Plastene India IPO: Review Analysis & Details

Let's start with some basic details first:
- The size of Plastene India Limited (PIL) is 105,00,000 shares.
- The capital collected through these shares will constitute about 29.34% of the total income.
- This amount will be utilized in the vast spread business of manufacturing flexible intermediate Plastene India Logo
bulk containers, woven sacks, fillers, granules, tarpaulin, flexible packaging, woven fabric, master-batches, multi-filament yarns and webbings.

What are the primary reasons for PIL to come out with the PIL IPO?
Plastene India is planning to expand its manufacturing capacity to 69,000 MTPA and for this
the estimate cost calculated is Rs 55 crore. This expansion will help in fulfilling the growing demands of Jumbo Bags and BOPP woven sacks.

So what is the need of PIL to come out with the PIL IPO?
Plastene India is planning to purchase plant and machinery for its latest product Block Bottom Valve Bag.
And the place chosen by company is at NaniChirai, Gandhidam.
The second motive of this IPO is to expand its existing manufacturing facilities at Rajpur, Gujarat.

What is the issue size of the PIL IPO?
The PIL IPO size is of 105,00,000 shares.

What is the price band of PIL IPO?
The Face Value of each Equity Share is Rs. 10 each.
The price band and the minimum bid lot will be decided by the Company in consultation with the book
running Lead Manager and advertised at least two working days prior the BID/ISSUE opening date.

How many shares will be sold in the PIL IPO?
The total no. of shares to be sold through this IPO is not known precisely. However, it is known that there will be 25% stake dilution.

What are the IPO dates for PIL IPO?
The final bidding dates have not came yet. Opening dates will be in September.

How will the capital raised by PIL IPO be used?
The capital raised will be used in:
1) Purchase of plant and machinery for its Block Bottom Valve Bag.
2) For the expansion of its existing manufacturing facilities.

Any ratings given to PIL IPO?
ICRA assigns grade 3 to PIL IPO.

What are the analysts recommendations and business results for PIL IPO?
Plastene India Limited was initially called as Oswal Agloimpex Limited. Earlier owners were
Mr. Prakash H. Parekh and Mr. Champalal G. Parekh. Year of incorporation of PIL was 2004.
At that time it started at Gandhidham, Gujarat. Initially its capacity was 21,000 tpa for polywoven
sacks and flexible packaging products. The current capacity is now increased to 55,000 tpa at
Gandhidham and Rajpur in Gujarat. Overall this IPO is given an average rating.
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