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TCS, HDFCBANK, SBI Liquid Fund (G)
Bulkcorp International Ltd.

BULKCORP

Equity

NSE

Min. Investment

1,00,000.00

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IPO Details

Bidding Dates

30 Jul 24 - 01 Aug 24

Price Range ₹

100 - 105

Total Equity

20.78Cr

Lot Size

1200

Exchange Status

NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

0.00×

Qualified Institutional Buyers

0.00×

Employees

0.00×

Retail Investors

0.00×

Total subscription Rate

0.00×

IPO Timeline

Offer start

30 Jul 2024

Offer end

01 Aug 2024

Allotment

02 Aug 2024

Refund initiation

05 Aug 2024

Demat transfer

05 Aug 2024

Listing

06 Aug 2024

About Company

Founded in 2009, Bulkcorp International Limited specializes in producing and distributing Food-Grade Flexible Intermediate Bulk Container (FIBC) bags. They offer a wide range of customizable packaging solutions, including eight variations of FIBC bags (Jumbo Bags) and container liners. Their manufacturing unit in Changodar, Ahmedabad, adheres to the BRC Global Standard for Packing and Packaging Materials, achieving Grade A certification. Additionally, the company holds certifications for ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and BRC. Bulkcorp International serves various industries such as agriculture, chemicals, construction, food, pharmaceuticals, and mining. They have exported their products to numerous countries, including the United States, Canada, the United Kingdom, South Africa, Ivory Coast, South Korea, Spain, various European nations, and Egypt. As of May 31, 2024, the company employs 195 people, including workers.

Year Founded

08-10-2009

Promotor Details

Punit Gopalka

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage98.172.26
Share Capital54300005430000

Offer to Public

19,78,800.00 Cr

Project Details

  • Capital Expenditure - 21.8cr
  • To Meet Working Capital Requirements - 110cr

Objectives

  • Capital ExpenditureTo Meet Working Capital RequirementsGeneral Corporate Purpose

Highlights

  • Holding multiple ISO certifications and BRC Global Standards certification, ensuring high-quality, environmentally responsible, and safe manufacturing practices.
  • Offering a wide range of FIBC bags and container liners, catering to various industry needs.
  • Manufacturing FIBC bags in compliance with ISO 21898, ensuring product reliability and safety.
  • Doubling the installed capacity of the manufacturing facility, allowing for greater production output and the ability to meet higher demand.
  • Exporting products to multiple countries, demonstrating a strong international presence and customer trust.

Challenges

  • Heavy reliance on Gujarat for domestic revenue and the United States for exports makes the company vulnerable to regional economic and political changes.
  • A significant portion of sales comes from the top 10 customers. Losing any of these clients or experiencing a reduction in orders could substantially harm the business.
  • Involvement in multiple legal proceedings could lead to significant liabilities if rulings are unfavorable, affecting the company’s financial stability.
  • The company’s total debt of Rs 6.34 crore could limit financial flexibility and increase vulnerability to economic downturns.
  • Over-reliance on a few key suppliers, especially the group company Umasree Texplast Private Limited, poses a risk to the continuity of operations if any supply disruptions occur.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
20222,177.11181.0063.5363.531.17
20211,975.98181.00172.56172.563.1779
20231,765.18181.0063.5363.531.17
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