Schedule of Ideal Technoplast Industries
| Issue open date | 21 Aug 2024 |
| Issue close date | 23 Aug 2024 |
| UPI mandate deadline | 23 Aug 2024 (5 PM) |
| Allotment finalization | 26 Aug 2024 |
| Refund initiation | 27 Aug 2024 |
| Share credit | 27 Aug 2024 |
| Listing date | 28 Aug 2024 |
| Mandate end date | 07 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 26 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 26 Nov 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 Ideal Technoplast Industries
Established in 2012, Ideal Technoplast Industries is a manufacturer and supplier of rigid plastic packaging, with a presence in both domestic and international markets (indirectly through export houses and third parties). It provides industrial packaging solutions for sectors such as paints, agro, chemicals, cosmetics, adhesives, lubricants, food, and edible oil. The company’s product portfolio includes round containers, square containers, twist containers, and bottles.
The company’s surat facility spans multiple stories, covering an area of 20,000 sq. ft., and features advanced manufacturing technologies, including In-House design & printing technology involving in-mould labelling technology and heat transfer mould labelling technology, that allows direct printing on the containers instead of applying labels.
Financials of Ideal Technoplast Industries
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹16.03 crores |
| Fresh Issue | ₹16.03 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 13.63 (94.42%) |
| General corporate purposes | 0.81 (5.58%) |
Strengths
- High customer retention: The company enjoys repeat business and positive word-of-mouth due to its commitment to delivering excellent service and maintaining product quality. This has resulted in high customer retention rates.
- Specialization in square packaging: The company’s specialization in manufacturing square packaging containers, known for their ruggedness, durability, and ease of handling heavy items, has positioned it as a trusted and recognized player in the market.
- Automated precision: The fully automated manufacturing facility stands as a key strength, allowing the company to consistently deliver products with superior quality finishes that align with and exceed market expectations.
Risks
- Competitive markets with low entry barriers: The company operates in competitive markets competing with numerous multinational and Indian companies with sizeable market shares as well as the broader industry comprising numerous small competitors with low barriers to entry which may increase competition.
- Reliance on top clients: The company derives nearly 48% of its revenue from the top 10 customers. Any reduction in business from these customers or any other major clients could negatively impact revenue and profitability.
- Geographical concentration for raw material procurement: The company is majorly dependent on two states i.e. Haryana and Gujarat for nearly 82% of the total purchase of raw materials. Any uncertainty and adverse developments in these states can affect the business of the company’s ability to procure raw materials.