Upcoming IPOs this week: The Indian stock market will be active this week, but the action is mostly limited to smaller businesses. While large, well-known companies are staying quiet for now, two smaller companies are stepping up to raise money.
Of these two issues, the larger one is RFBL Flexi Pack, which aims to raise Rs 35.33 crore through a completely fresh issue of 70.65 lakh shares. The company has set a price band of Rs 47–50 per share. At the upper band, retail investors will be required to invest Rs 3 lakh, as the minimum application size is 6,000 shares. RFBL will be listed on the NSE SME platform. Currently, the IPO’s GMP is zero.
Established in 2005, RFBL manufactures and sells printed multilayer flexible packaging materials, including plastic film rolls and pouches. These materials are utilised by clients across the food, pharmaceuticals, and home care sectors. Based in Gujarat, the company operates on a B2B model and provides customised packaging solutions using materials such as BOPP, CPP, and laminated films.
The company plans to utilise the proceeds from the IPO for capital expenditure, working capital requirements, and general corporate purposes.
Goldline operates an ‘asset-light’ pharmaceutical marketing business, selling medicines under its ‘Goldline’ brand across various therapeutic areas such as cardiology, orthopaedics, paediatrics, diabetes care, and critical care. Rather than manufacturing its products in-house, the company partners with third-party manufacturers; this enables it to expand its distribution network while incurring lower fixed costs.
The company plans to use the majority of the proceeds from the IPO to repay a debt of Rs 8.35 crore.
RFBL flexi-pack, Goldline Pharmaceutical IPO date
Both IPOs — RFBL Flexi Pack and Goldline Pharmaceutical will open for subscription on May 12 and close on May 14; their tentative listing is scheduled for May 19.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
