LK Mehta Polymers’ initial public offering (IPO), valued at ₹7.38 crore, was open for subscription from February 13 to February 17. The SME IPO had set a price of ₹71 per share.
Following the three days of bidding, LK Mehta Polymers IPO closed with robust demand, garnering 44.57 times bids. The IPO received bids for 4.39 crore shares against 9.85 lakh shares on offer. The retail investor segment was booked 46.25 percent, while the non-institutional investors (NII) category was subscribed 42.88 times.
About the IPO
LK Mehta Polymers IPO was entirely an fresh issue of 10.40 lakh shares with no offer for sale (OFS) component. Retail investors could apply for a minimum lot of 1,600 shares, requiring a minimum investment of ₹1.13 lakh.
The proceeds from the fresh issue will be allocated towards funding the company’s incremental working capital requirements, ensuring smooth operational expansion and liquidity management. Additionally, a portion of the funds will be earmarked for general corporate purposes, enabling the company to strengthen its financial position, pursue strategic initiatives, and address any unforeseen business needs.
Swastika Investmart Ltd is the book-running lead manager of the L.K. Mehta Polymers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for L.K. Mehta Polymers IPO is Swastika Investmart Limited.
About the Company
L.K. Mehta Polymers Limited, incorporated in 1995, is engaged in the trading and manufacturing of plastic products. The company also specializes in trading and reprocessing essential raw materials such as polypropylene and polyethylene granules, catering to a diverse customer base. Operating under the brand name “Super Pack,” the company emphasizes superior quality and aims to build lasting customer relationships. With a strong focus on efficiency, it has implemented stringent systems to ensure timely delivery and minimize errors. Orders are meticulously checked at each stage, reinforcing its commitment to consistent service and customer loyalty.
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