Bulkcorp International Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 30, 2024 to August 1, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 100 to ₹ 105 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 19,78,800 shares (aggregating up to ₹ 20.78 Cr) |
| Fresh Issue | 19,78,800 shares (aggregating up to ₹ 20.78 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 55,35,264 |
| Shareholding post issue | 75,14,064 |
| Market Maker portion | 99,600 shares Sunflower Broking |
About Bulkcorp International Limited IPO
Bulkcorp International Limited is engaged in the manufacturing and supply of Food Grade Flexible Intermediate Bulk Container (“FIBC'') bags. Their manufacturing facility meets the requirements set out in BRC Global Standard for Packing and Packaging Materials and has achieved certified Grade A. They offer a wide range of customizable packaging solutions FIBC bags (Jumbo Bags) which come in eight variations and container liners. Their manufacturing facility at Changodar, Ahmedabad is equipped with the required facilities including machinery and other handling equipment to facilitate a smooth manufacturing process.
They endeavour to maintain safety and high hygiene on their premises by adhering to key safety and hygiene norms specified by BRC. Bulkcorp IPO is a book-built issue of Rs 20.78 crores. The issue is entirely a fresh issue of 19.79 lakh shares. Bulkcorp IPO opens for subscription on July 30, 2024 and closes on August 1, 2024. Bulkcorp's IPO price band is set at ₹100 to ₹105 per share. The minimum lot size for an application is 1200 Shares. Swastika Investmart Ltd is the book-running lead manager of the Bulkcorp IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Bulkcorp IPO is Sunflower Broking.
Bulkcorp IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Bulkcorp IPO Anchor Investors Details
| Bid Date | July 29, 2024 |
| Shares Offered | 938,400 |
| Anchor Portion Size (In Cr.) | 9.85 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 31, 2024 |
Company & Financials
Founded in 2009, Bulkcorp International Limited produces and distributes Food-Grade Flexible Intermediate Bulk Container (FIBC) bags. The company provides a variety of customizable packaging solutions, such as eight variations of FIBC bags (Jumbo Bags) and container liners. The company's manufacturing unit in Changodar, Ahmedabad meets the BRC Global Standard for Packing and Packaging Materials and has achieved Grade A certification. The company is certified with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, as well as BRC certification. The company's products are supplied to industries such as agriculture, chemicals, construction, food, pharmaceuticals, and mining. The company has exported its product to countries such as the United States of America, Canada, the United Kingdom, South Africa, Ivory Coast, South Korea, Spain, Europe, Egypt etc.
Objectives of Bulkcorp IPO
The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:
- Capital Expenditure
- To Meet Working Capital Requirements
- General Corporate Purpose
Bulkcorp International IPO Review
Though the company is operating in a highly competitive and fragmented segment, it has created a niche place and has made a major contribution to the high-margin export business. Based on FY24 earnings, the issue appears fully priced. Investors may park funds for long-term rewards.
Bulkcorp International Limited IPO Financial Information
Latest Revenue
4,650.45
₹ Crore
Profit After Tax
355.90
₹ Crore
Net Worth
934.06
₹ Crore
Total Borrowing
634.23
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 3,236.39 | 4,650.45 | 355.90 | 934.06 | 634.23 | ||||
| 31 Mar 2023 | 1,765.18 | 3,895.71 | 121.22 | 478.16 | 542.28 | ||||
| 31 Mar 2022 | 2,177.10 | 4,919.90 | 172.56 | 356.95 | 889.24 | ||||
| 31 Mar 2021 | 1,975.97 | 3,176.36 | 63.53 | 188.26 | 648.89 | ||||
| Amount in ₹ Crore | |||||||||
Bulkcorp International Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 50.40% |
| ROCE | 40.25% |
| Debt/Equity | 0.68 |
| RoNW | 38.10% |
| P/BV | 6.22 |
| PAT Margin (%) | 7.88 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.43 | 4.74 |
| P/E (x) | 16.33 | 22.17 |
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Competitive Strengths
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Bulkcorp International Limited IPO Timeline
| IPO Open Date | Tuesday, July 30, 2024 |
| IPO Close Date | Thursday, August 1, 2024 |
| Basis of Allotment | Friday, August 2, 2024 |
| Initiation of Refunds | Monday, August 5, 2024 |
| Credit of Shares to Demat | Monday, August 5, 2024 |
| Listing Date | Tuesday, August 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2400 | ₹252,000 |