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IPO Book Building for IPAK Begins Today

IPO Book Building for IPAK Begins Today

International Packaging Films Limited is gearing up for its IPO’s book building phase on May 08 and 09, 2024, during which high net worth individuals and institutional investors will subscribe to 70.1 million shares.

Commencing at the floor price of Rs 21 per share, the book building presents an opportunity for investors to participate in the company’s growth potential. Based on investor interest, the strike price can potentially rise by 40% to Rs 29.4 per share, potentially allowing the company to raise between Rs 1.47 to 2.04 billion.

Following the book-building process, successful bidders will be provisionally allotted 75% of the issue size, with the remaining 25% offered to retail investors at the strike price. Investors view International Packaging Films Limited as an attractive investment opportunity, given its status as the largest packaging film manufacturer in Pakistan with high growth prospects.

Also Read: SECP Streamlines IPO Approval Process

In the financial year 2023, International Packaging Films Limited reported robust performance, with net sales reaching PKR 19.9 billion. The company maintained a gross margin of 27% and recorded a profit before tax of 2.9 billion, resulting in a net profit after tax of 1.6 billion. Notably, the company achieved a 3-year revenue Compound Annual Growth Rate (CAGR) of 41%.

With its comprehensive portfolio of packaging solutions, including BOPP, CPP, and BOPET films, International Packaging Films Limited stands out as the first group in Pakistan to offer one-window flexible packaging solutions. Its strategic locations further enhance its appeal to investors seeking exposure to the packaging industry.