The issue is entirely a fresh issue of 19.79 lakh shares. Bulkcorp IPO is a book built issue of Rs 20.78 crores.
Bulkcorp IPO opens for subscription on July 30, 2024 and closes on August 1, 2024. The allotment for the Bulkcorp IPO is expected to be finalized on Friday, August 2, 2024. Bulkcorp IPO will list on NSE SME with tentative listing date fixed as Tuesday, August 6, 2024.
Bulkcorp IPO price band is set at ₹100 to ₹105 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹252,000.
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.
About Bulkcorp International Limited
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 the countries such as United States of America, Canada, United Kingdom, South Africa, Ivory Coast, South Korea, Spain, Europe, Egypt etc.
As of May 31, 2024, the company employs 195 people including workers.
Refer to Bulkcorp IPO RHP for detailed information.
Bulkcorp IPO Details
| 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 | 1200 Shares |
| Total Issue Size | 1,978,800 shares (aggregating up to ₹20.78 Cr) |
| Fresh Issue | 1,978,800 shares(aggregating up to ₹20.78 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,535,264 |
| Share holding post issue | 7,514,064 |
| Market Maker portion | 99,600 shares |
Bulkcorp IPO Reservation
Bulkcorp IPO offers 2,354,400 shares. 375,600 (15.95%) to QIB, 282,000 (11.98%) to NII, 658,800 (27.98%) to RII and 938,400 (39.86%) to Anchor investors.| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 938,400 (39.86%) |
| Market Maker Shares Offered | 99,600 (4.23%) |
| QIB Shares Offered | 375,600 (15.95%) |
| NII (HNI) Shares Offered | 282,000 (11.98%) |
| Retail Shares Offered | 658,800 (27.98%) |
| Total Shares Offered | 2,354,400 (100%) |
Bulkcorp IPO Anchor Investors Details
Bulkcorp IPO raises Rs 9.85 crore from anchor investors. Bulkcorp IPO Anchor bid date is July 29, 2024. Bulkcorp IPO Anchor Investors list| 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 |
Bulkcorp IPO Timeline (Tentative Schedule)
Bulkcorp IPO opens on July 30, 2024, and closes on August 1, 2024.| 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 |
Bulkcorp IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |
Bulkcorp IPO Promoter Holding
The Promoters of the company are Mr. Punit Mahendra Gopalka, Mr. Anup Mahendra Gopalka and Mr. Sanjay Pandurang Sadavarte.| Share Holding Pre Issue | 98.10%` |
| Share Holding Post Issue | 72.26% |
Bulk Corp International Limited Financial Information (Restated)
Bulk Corp International Limited's revenue increased by 19.37% and profit after tax (PAT) rose by 193.6% between the financial year ending with March 31, 2024 and March 31, 2023.| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,236.39 | 1,765.18 | 2,177.10 | 1,975.97 |
| Revenue | 4,650.45 | 3,895.71 | 4,919.90 | 3,176.36 |
| Profit After Tax | 355.90 | 121.22 | 172.56 | 63.53 |
| Net Worth | 934.06 | 478.16 | 356.95 | 188.26 |
| Reserves and Surplus | 380.54 | 297.16 | 175.95 | 7.26 |
| Total Borrowing | 634.23 | 542.28 | 889.24 | 648.89 |
Key Performance Indicator
The market capitalization of Bulkcorp IPO is Rs 78.9 Cr.KPI as of March 31, 2024.
| 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 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Bulkcorp IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- Capital Expenditure
- To Meet Working Capital Requirements
- General Corporate Purpose
Bulkcorp International Limited Contact Details
309, Safal Prelude, Corporate Road
Off Prahalad Nagar
Audagarden, Ahmedabad– 380 015
Phone: +91-79-4899 6823
Email: compliance@bulkcorp-int.com
Website: https://www.bulkcorp-int.com/
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