IPO Centre For other details, refer IPO Diary Wednesday, May 09, 2012 17:50 Hrs IST

IPO Diary

Print this page
Send this page to a friend


Plastene India IPO subscribed just 2% on day 1

Gets bids for 1.57 lakh shares

Plastene India's initial public offer (IPO) received bids for 1.57 lakh shares, compared with 92.55 lakh shares on offer, on the first day of bidding today. The IPO was subscribed just 2%. The company has fixed IPO price band of Rs 81 to Rs 84 per share.

The initial public offer (IPO) will close on 15 May 2012. The proceeds from issue of shares will be used by the company for expansion of manufacturing facilities and purchase of plant and machinery for manufacturing of new product, block bottom valve bags at Nani Chirai, amounting to Rs 49.34 crore; expansion of manufacturing facilities at Rajpur, amounting to Rs 28.07 crore; and for general corporate purpose.

The company's consolidated net profit stood at Rs 10.95 crore on net sales of Rs 382.51 crore for ten months ended January 2012.

Plastene India, promoted by Champalal G. Parekh, Prakash Parekh and Madhu P. Parekh, is engaged in the integrated business of manufacturing Jumbo bags, woven sacks (comprising of laminated woven sacks and BoPP laminated woven sacks), flexible packaging (comprising of printed laminates, preformed pouches, surface printed three-layer films and liners), woven fabric, tarpaulins and other products mostly used in self consumption which comprises of UV master batch, anti-fab master batch, multifilament yarn and webbings.

Previous Stories
Other Stories
4  Monte Carlo Fashions sees weak debut (19-Dec 16:11 Hrs IST)
4  Monte Carlo Fashions IPO subscribed 7.83 times (8-Dec 11:56 Hrs IST)
4  Monte Carlo Fashions IPO subscribed 7.58 times (5-Dec 17:20 Hrs IST)
4  Monte Carlo Fashions IPO oversubscribed on day two (4-Dec 16:47 Hrs IST)
4  Monte Carlo Fashions IPO subscribed 28% on day one (3-Dec 17:22 Hrs IST)
4  Monte Carlo Fashions IPO opens on 3 December 2014 (1-Dec 14:18 Hrs IST)
4  Shemaroo closes almost flat on debut (1-Oct 16:17 Hrs IST)
4  Videocon d2h files for IPO (1-Oct 11:17 Hrs IST)
4  Sharda Cropchem advances 48.36% on debut (23-Sep 16:09 Hrs IST)
4  Rashtriya Ispat Nigam files draft prospectus for IPO (22-Sep 18:20 Hrs IST)