Flexituff International settles with 7% premium

At Rs 166.40 on BSE

Shares of Flexituff International settled at Rs 166.40 on BSE, a premium of 7.35% over the initial public offer price of Rs 155.

The stock debuted at Rs 155, at par with the initial public offer (IPO) price. The stock hit a high of Rs 185.40 and low of Rs 142. On BSE, 1.75 crore shares were traded on the counter.

Flexituff International IPO Analysis

Flexituff International (FIL) promoted by Kalani Industries Pvt. Ltd., Miscellani Global Pvt. Ltd. and Sanovi Trading Pvt. Ltd., is a multi-product company engaged in the business of manufacturing polymer products like flexible intermediate bulk containers (FIBC), reverse printed BOPP woven bags, special PP bags and leno bags, geo-textile fabrics and cround covers. These products are manufactured at three manufacturing units located in Pithampur (Madhya Pradesh) and Kashipur (Uttrakhand). It has a current capacity of 48,500 million tones (m) and proposes to expand the same to 70,311 mt by next fiscal.