Schedule of Bulkcorp International
| Issue open date | 30 Jul 2024 |
| Issue close date | 01 Aug 2024 |
| UPI mandate deadline | 01 Aug 2024 (5 PM) |
| Allotment finalization | 02 Aug 2024 |
| Refund initiation | 05 Aug 2024 |
| Share credit | 05 Aug 2024 |
| Listing date | 06 Aug 2024 |
| Mandate end date | 16 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 02 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 31 Oct 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Bulkcorp International
Founded in 2009, Bulkcorp International manufactures and supplies Food Grade Flexible Intermediate Bulk Container (FIBC) bags. The company offers a wide range of customizable packaging solutions FIBC bags (Jumbo Bags) which come in eight variations and container liners. The company caters to the requirements of crucial industries such as agriculture, chemical, construction, food, pharmaceutical, and mining with a customer base spread across the globe with a presence in countries like the USA, UK, South Africa, Ivory Coast, South Korea, Spain, Europe, Egypt, etc and is recognized as a one-star export house by Ministry of Commerce and Trade.
The company’s manufacturing unit at Changodar, Ahmedabad meets the requirements set out in BRC Global Standard for Packing and Packaging Materials and has achieved certified Grade A. It has expanded its installed capacity by installing new machinery at the premises adjacent to the existing manufacturing facility. Due to expansion, the installed capacity has doubled from 2400 MTPA to 4800 MTPA. The company is an ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and BRC-certified Company.
Financials of Bulkcorp International
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹20.78 crores |
| Fresh issue | ₹20.78 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 11 (52.94%) |
| Capital expenditure | 2.18 (10.49%) |
| General corporate purposes | 7.6 (36.57%) |
*All figures except EPS are in ₹ crores
Strengths
- In-house manufacturing capabilities: With a production capacity of 4800 M. T. P. A. for FIBC bags, The company’s in-house manufacturing operations enable them to streamline the inventory management and production process. This results in maintaining quality, minimizing production time, and being cost-effective.
- Wide range of products: The company’s product portfolio of FIBC Bags has the following eight varieties: 4-loop FIBC Bags, Q FIBC Bags, UN-certified bags, Ventilated bags, Conductive bags – (Type C bags), Type D bags, One-loop FIBC bags, Container liner. This enables the company to cater to the requirements of crucial industries such as agriculture, chemical, construction, food, pharmaceutical, and mining.
Risks
- Reliance on top clients: The company derives nearly 92% of its revenue from its top ten customers. Any reduction in business from these top ten customers or any other major clients could have negative implications for both revenue and profitability.
- Geographical concentration and exports-related risks: The company’s major portion (95% of domestic revenue) comes from Gujarat and nearly 70% of total exports are derived from exports to the USA. Any adverse developments in this market affecting the operations in these regions could adversely affect the business.
- Ban on plastic products: There is an increased awareness towards controlling pollution and many economies including India have joined in the efforts to ban plastic products. In case any plastic packaging products manufactured by the company are banned in India it could have a material and adverse effect on the business and results of operations.