BSE SME L.K.Mehta Polymers slips on debut
21-Feb-2025
The scrip was listed at 71.10, at a small premium of 0.14% compared with the initial public offer (IPO) price. The stock was currently down 0.8% over its listing price.
The counter hit a high of Rs 71.10 and a low of Rs 67.54. About 5.33 lakh shares of the company changed hands at the counter.
L.K.Mehta Polymers' IPO was subscribed 42.28 times. The issue opened for bidding on 13 February 2025, and it closed on 17 February 2025. The price of the IPO was set at Rs 71 per share.
The IPO comprised a fresh issue of 10,40,000 equity shares. The promoter and promoter group shareholding diluted to 72.92% from 100% pre-issue.
The company intends to utilize the net proceeds to meet funding capital requirements and for general corporate purposes.
L K Mehta Polymers specializes in the manufacturing and trading of plastic products, encompassing ropes, twine, granules, and reprocessed raw materials. The company operates under the 'Super Pack' brand, emphasizing customer satisfaction and timely delivery. The firm also engages in raw material reprocessing and maintains a focus on technological and operational flexibility. As of 31st July, 2024, the company had 20 full-time employees, including key managerial personnel.
The company recorded revenue from operations of Rs 3.93 crore and net profit of Rs 0.20 crore for the period as of 30 June 2024.