Boss Packaging Solutions Ltd planning to raise up to Rs. 8.41 crore from public issue; IPO opens August 30

Ahmedabad (Maharashtra) [India], August 28: Boss Packaging Solutions Ltd, Ahmedabad-based Packaging Machines Manufacturing & Solution company, is planning to raise up to Rs. 8.41 crore from its SME public issue. The company has received approval to launch its public issue on the NSE Emerge Platform of the National Stock Exchange. The public issue opens for subscription on August 30 and closes on September 03. The Proceeds of the public issue will be utilized to fund the company’s working capital requirement, additional CNC equipment and general corporate purposes. Fedex Securities Private Limited is the book-running lead manager of the issue.

The initial public offering of Rs. 8.41 crore, comprises of a fresh issue of 1,274,000 shares of face value Rs. 10 each. Company has finalized price of Rs. 66 per equity share for the public issue. The minimum lot size for retail investors is 2000 shares amounting to minimum investment of Rs 1,32,000. The minimum lot size investment for HNI is 2 lots (4000 shares) amounting to Rs 2,64,000.

Incorporated in January 2012, Boss Packaging Solutions Limited manufactures, supplies, and exports a variety of packaging, capping, and filling machines. They also offer self-adhesive sticker labelling machines, conveyors, turntables, web sealers, and sleeve applicators.

Highlights:

• Fresh Public issue of 12.74 lakh equity shares opens for subscription from August 30 to September 3
• The company provides Packaging Machines & Solutions suitable for Pharma, FMCG and Pesticides
• Minimum lot size for the application is 2000 shares; Minimum IPO application amount Rs. 1.32 lakh
• Funds raised through the issue will be used for Additional CNC Equipment and Working capital
• For FY23-24 company reported revenue of Rs. 12.17 crore and Net Profit of Rs. 1.01crore
• Fedex Securities Pvt Ltd is the book-running lead manager of the issue.

Company has full packaging line includes, automatic liquid packaging, cream/lotion packaging line, honey packaging line, paint packaging line, flavoured milk packaging, syrup packaging, pesticides and chemical packaging line, sanitizer packaging line, lubricant oil packaging line, edible oil packaging line, ghee packaging line and sauce packaging line.

The company has expanded its packaging machines portfolio, which includes a comprehensive range of packaging machinery such as industrial packaging machines with Semi-Automatic or fully automatic Liquid Filling Machines, Screw or ROPP Capping machines, Pick and Place Screw Capping Machines. Wide range of Self-Adhesive Sticker Labelling Machines, Hologram Applicator Machines, Shrink Sleeve Applicator Machines, Conveyors and Turn Tables, Air Jet Cleaning Machine, Semi-Automatic or automatic shrink-wrapping machines (Web Sealer), Electric Tunnels and Winder Rewinder and customized atomization to cater to diverse customer requirements.

Presently, the company supply to 18 states and 3 UT apart from exports, having Pan India presence for marketing and support services under own brand.

The company supplies its products to industries such as edible oil, lubricants, chemicals, cosmetics, homecare, pharmaceuticals, viscous liquid, juices and dairy, agriculture and pesticides, food and ancillaries, cosmetic and toiletries, and distilleries and breweries.

Company has well-equipped machine manufacturing facilities along with a registered office in Ahmedabad, Gujarat, India.

Business Highlights:-

The company’s revenue from operations for the Fiscal 2024 & Fiscal 2023 respectively was Rs. 12.17 crores & Rs. 10.33 crores. EBIDTA for Fiscal 2024 & Fiscal 2023 was Rs. 1.55 crore & Rs. 1.43 crore respectively. Profit after tax for the Fiscal 2024 & Fiscal 2023 was Rs. 1.01 crore and Rs. 1.00 crore respectively.

As of March 2024, the Net Worth of the company was reported at Rs. 4.52 crore and Reserves & Surplus at Rs. 1.35 crore. As of March 2024, the ROE of the company was 22.31%, ROCE at 28.99%, and RoNW at 22.31%. Shares of the company will be listed on NSE’s Emerge platform.

With IPO priced at Rs. 66 per share, EPS of Rs. 3.38 per share for FY2024, PE ratio comes to around 19.54. Industry PE is around 54 times. Price to Book value is 4.62 times.

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