IPO Calendar Buzz: Two New Issues Set to Engage Investors Amidst Lackluster Mainboard Activity.
India’s primary market is poised for activity next week with two SME public issues, RFBL Flexi Pack and Goldline Pharmaceutical, seeking to raise a combined total of nearly Rs 47 crore. These IPOs are scheduled to open for subscription on May 12 and close on May 14, with expected listings on May 19. RFBL Flexi Pack stands out with a target of Rs 35.33 crore through a fresh issue of 70.65 lakh shares, priced between Rs 47-50 per share. Investors looking to participate in this IPO will need to commit a minimum of Rs 3 lakh due to the minimum application size of 6,000 shares. This company will list on the NSE SME platform, while Goldline Pharmaceutical aims to secure Rs 11.61 crore via a fresh issue of 27 lakh shares, with a price range set at Rs 41-43 per share, requiring a minimum investment of Rs 2.58 lakh. Goldline will list on the BSE SME platform.
RFBL Flexi Pack has shown promising financial growth, with total income climbing to Rs 135.46 crore in FY25 from Rs 79.96 crore in FY24, and profit after tax increasing to Rs 8.33 crore from Rs 5.79 crore. The company specializes in manufacturing multilayer flexible packaging materials, primarily catering to sectors like food and pharmaceuticals. The proceeds from the IPO are earmarked for capital expenditure, working capital, and corporate needs. However, the grey market sentiment for RFBL’s IPO is currently showing a GMP of zero, indicating a lack of enthusiasm among traders regarding short-term price movements following its listing.
Goldline Pharmaceutical, on the other hand, operates an asset-light business model, marketing its products through partnerships with third-party manufacturers. This approach enables the firm to manage distribution costs effectively while growing within the cardiology, orthopaedics, and critical care segments. Financially, Goldline has reported notable growth, with FY25 revenues reaching Rs 28.06 crore, up from Rs 23.57 crore in FY24. The firm intends to utilize a significant portion of its IPO proceeds to repay borrowings amounting to Rs 8.35 crore. For Indian investors, the upcoming IPOs present an opportunity to gain exposure to the flexible packaging and pharmaceutical sectors, although the current grey market sentiment suggests a cautious approach may be prudent for those considering participation.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova IPO team.)