International Packaging Films Limited IPO’s book building phase will be held on May 08 and 09, 2024 where high net worth individuals and institutional investors will subscribe to 70.1 million shares.
The book building will start at the floor price of Rs 21 per share.
Based on the interest from investors during the book-building process, the strike price can rise by 40% (Rs 29.4 a share), thus helping the company collect Rs 2.04 billion.
After the book-building process, successful bidders will be provisionally allotted 75% of the issue size (70.1 million shares).
The 25% of the issue size will then be offered to retail investors at the strike price.
Investors see it as an opportunity to invest in the largest packaging film manufacturer with a high growth potential.
International Packaging Films Limited aims to raise Rs 1.47 to 2.04 billion by offering a 10.1% stake to institutional and ordinary investors.
International Packaging Films Limited recorded net sales of PKR 19.9 billion in the year 2023 while its gross margin for the financial year 2023 remained 27%. Its profit before tax for year 2023 was 2.9 billion while its net profit after tax was 1.6 billion. The company’s 3-year revenue CGAR remained at 41%.
The group collectively offers a complete portfolio of packaging solutions, producing BOPP, CPP, and BOPET films, making it the first-ever group in Pakistan to provide one-window flexible packaging solutions, located at two strategically important locations in the country.
