Anuroop Packaging SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 08 Nov 2019 – 13 Nov 2019
- Listing date
- 21 Nov 2019
- Face value
- ₹10 per share
- Issue price
- ₹13 per share
- Lot size
- 10,000 shares
- Total issue size
- ₹2.64 Cr
- Promoter holding
- 95.10% → 68.99% pre-issue → post-issue
- ISIN
- INE490Z01012
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Gretex Corporate Services Ltd.
- Registered office
- Ambiste (BK),, Post Khani Tal Wada,, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,10,000 | — | — |
Application size
Minimum 10,000 shares per lot, in multiples, at ₹13
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10,000 | ₹1,30,000 |
| S-HNI (min) | 2 | 20,000 | ₹2,60,000 |
| S-HNI (max) | 7 | 70,000 | ₹9,10,000 |
| B-HNI (min) | 8 | 80,000 | ₹10,40,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|
About Anuroop Packaging SME
Anuroop Packaging Limited, originally incorporated on October 13, 1995, is a corrugated box manufacturer based in Wada, Thane, Maharashtra. The company provides quality fixed packaging products such as corrugated boxes, sheets, and boards to clients from various industries including pharmaceutical, stationery, metals, and water treatment. The company has strong relationships with industry leaders such as Kokuyo Camlin and A.W. Faber-Castell (India), and also counts Himalaya Organics, Ion Exchange India, Mattel Toys India, FDC, and Pepe Jeans London among its prominent clients. In addition to manufacturing corrugated boxes, the company is also involved in trading of Gum (Turpentine and Dipentene), which commenced in 2017-2018.
Company Analysis
from RHPAnuroop Packaging Limited is a corrugated box manufacturer serving pharmaceutical, stationery, metals, and water treatment industries in India.
Anuroop Packaging Limited, originally incorporated on October 13, 1995, is a corrugated box manufacturer based in Wada, Thane, Maharashtra. The company provides quality fixed packaging products such as corrugated boxes, sheets, and boards to clients from various industries including pharmaceutical, stationery, metals, and water treatment. The company has strong relationships with industry leaders such as Kokuyo Camlin and A.W. Faber-Castell (India), and also counts Himalaya Organics, Ion Exchange India, Mattel Toys India, FDC, and Pepe Jeans London among its prominent clients. In addition to manufacturing corrugated boxes, the company is also involved in trading of Gum (Turpentine and Dipentene), which commenced in 2017-2018.
Objects of the Issue
- To part finance working capital requirements of the Company ₹33.14 Lakh p.20
- To meet expenses related to the Issue ₹9.76 Lakh p.20
- To Meet Working Capital Requirement ₹33.14 Lakh p.83
- — p.81
Issue Structure
- Total Issue
- ₹263.90 Lakh
- Fresh Issue
- ₹42.90 Lakh (3,30,000 Equity Shares of ₹10.00 each at ₹13.00 per share)
- Offer for Sale
- ₹221.00 Lakh (17,00,000 Equity Shares of ₹10.00 each at ₹13.00 per share)
- Price Band
- ₹13.00 per Equity Share (Fixed Price)
- Lot Size
- 10,000 shares (Market lot) and in multiples of 10,000 thereafter; minimum allotment of 10,000 Equity Shares
- Face Value
- ₹10.00 per Equity Share
Business Model
The company earns revenue primarily from manufacturing and selling corrugated boxes, sheets, and boards to various industries. Additionally, the company generates revenue from trading of Gum (Turpentine and Dipentene). Manufacturing of corrugated boxes is the main line of business.
Business Segments
SWOT Analysis
- • Strong customer relationships with industry leaders in stationery segment(p.19)
- • Diversified customer base across multiple industries(p.19)
- • Established manufacturing presence since 1995(p.19)
- • Positive financial performance with growing profitability(p.21)
- • Semi-automated manufacturing facility reduces labor dependence and raw material waste(p.107)
- • Strategic geographic location with good road connectivity to domestic markets(p.110)
- • Established relationships with major corporate clients providing repeat business(p.108)
- • Significant revenue and profit growth trajectory over recent years(p.107)
- • Quality focus and customer satisfaction as competitive differentiator(p.110)
- • Established manufacturing facility with diverse product portfolio(p.231)
- • Strong client relationships with industry leaders(p.231)
- • Long operational history demonstrating business viability(p.231)
- • Revenue growth trajectory across reporting periods(p.231)
- • Diversified customer base reducing dependence(p.245)
- • Strong revenue growth trajectory(p.237)
- • Profitability improvement over time(p.239)
- • Positive net worth and tangible assets(p.262)
- • Established operational footprint(p.245)
- • High dependence on single major customer representing 51% of sales(p.29)
- • Heavy dependence on top 5 customers for 87% of revenues(p.29)
- • Excessive reliance on top 5 suppliers for 96% of raw material supplies(p.29)
- • Corporate office premises taken on lease with termination risk(p.30)
- • Loss of historical corporate records prior to 2006(p.31)
- • Significant litigation involving promoters and directors(p.27)
- • Promoter-owned subsidiary dependent on inexperienced management in new business line(p.30)
- • Negative cash flow from operations in multiple years(p.38)
- • Limited product differentiation in corrugated packaging market(p.111)
- • High exposure to raw material cost fluctuations(p.111)
- • Heavy reliance on a small number of major customers(p.117)
- • Limited installed capacity utilization at only 32% in FY2018-19(p.116)
- • Minimal workforce with only 7 permanent employees plus 3 contractors(p.116)
- • Significant dependence on stationery industry customers(p.231)
- • Relatively high debt-to-equity ratio(p.187)
- • Single manufacturing location concentration(p.231)
- • Limited cash generation from operations in recent period(p.169)
- • Significant dependence on top customers(p.245)
- • High supplier concentration risk(p.245)
- • High debt burden relative to equity(p.240)
- • Outstanding tax demands and defaults(p.248)
- • Promoter tax liabilities(p.249)
- • Strong industry growth expected at 18% CAGR with flexible packaging at 25% CAGR(p.19)
- • Large untapped market with low per capita packaging consumption in India(p.19)
- • Increasing shift from rigid to flexible packaging providing market expansion opportunity(p.19)
- • Growing focus on innovation and cost-effective packaging solutions(p.19)
- • Working capital funding secured through IPO proceeds(p.20)
- • Growing domestic corrugated packaging demand from e-commerce sector(p.111)
- • Expansion potential in high-growth sectors like pharma, retail, and FMCG(p.110)
- • Market opportunity from India's ban on single-use plastics driving corrugated demand(p.99)
- • Potential to expand geographic and customer reach through domestic market penetration(p.110)
- • Export market opportunities for quality packaging products(p.111)
- • Expansion into trading of gums segment showing growth(p.231)
- • Access to capital markets through IPO for growth financing(p.232)
- • Diversification across multiple end-user industries(p.231)
- • Planned capacity expansion(p.246)
- • Growing corrugated packaging market(p.245)
- • Expansion into new customer segments via trading(p.235)
- • Access to capital markets via IPO(p.261)
- • Significant fluctuations in kraft paper raw material prices affecting margins(p.28)
- • Power supply disruptions affecting manufacturing operations(p.30)
- • Intense competition from organized and unorganized players in fragmented market(p.35)
- • Risk of alternative technology and changing consumer preferences reducing demand(p.28)
- • Labor-intensive operations vulnerable to strikes and wage demands(p.30)
- • Regulatory changes in government policies affecting operations(p.43)
- • GST implementation impact on operations(p.47)
- • Natural calamities negatively impacting Indian economy and business(p.47)
- • Intense competition from unorganized and smaller players in the industry(p.111)
- • Regulatory changes in domestic and export markets affecting business operations(p.111)
- • Global economic slowdown impacting manufacturing and packaging demand(p.95)
- • Over-capacity in the global corrugated packaging industry(p.111)
- • Vulnerability to fluctuations in commodity prices and input costs(p.103)
- • Exposure to changes in technology and manufacturing processes(p.232)
- • Competition from other packaging players(p.232)
- • Dependence on general economic and business conditions(p.232)
- • Regulatory and legal risks(p.232)
- • Sensitivity to investment flows and political stability(p.232)
- • Exposure to inflation and raw material cost volatility(p.244)
- • Interest rate risk affecting debt obligations(p.244)
- • Credit risk from customer defaults(p.244)
- • Intensifying market competition(p.245)
- • Economic slowdown impact(p.244)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Amarnath Matadin Sharma | Promoter | 49.72% | 25.45% |
| Akash Amarnath Sharma | Promoter | 11.80% | — |
| Akshay Amarnath Sharma | Promoter | 8.05% | — |
| Amarnath Sharma HUF | Promoter | 1.98% | — |
| Amarnath Matadin Sharma | Promoter | 49.72% | 25.45% |
| Akash Amarnath Sharma | Promoter | 11.80% | 11.32% |
| Akshay Amarnath Sharma | Promoter | 8.05% | 7.72% |
| Amarnath Sharma HUF | Promoter | 1.98% | 1.90% |
| Kiran Amarnath Sharma | Promoter Group | 19.11% | 18.34% |
| Shweta Akash Sharma | Promoter Group | 4.43% | 4.25% |
| Amarnath Matadin Sharma | Promoter | 36.45 lakh shares (49.72%) | — |
| Akash Amarnath Sharma | Promoter and Managing Director | 8.65 lakh shares (11.80%) | — |
| Akshay Amarnath Sharma | Promoter and Chief Financial Officer | 5.90 lakh shares (8.05%) | — |
| Amarnath Sharma HUF | Promoter Group | Not separately quantified; part of Promoter Group | — |
| Akash Amarnath Sharma | Promoter | — | — |
| Sweta Akash Sharma | Promoter | — | — |
| Amarnath Matadin Sharma | Promoter/Selling Shareholder | — | — |
| Amarnath Matadin Sharma | Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.