Mumbai, June 22, 2023: The Initial Public offering (IPO) of Essen Speciality Films Limited will be open for subscription on Friday, June 23, 2023, and the Issue will be closing on Tuesday, June 27, 2023. The company is into manufacturing of sustainable plastic products for the Home Decor and Home Furnishing Industry and exporting across 24 countries to various Fortune 500 Retailers.

According to the prospectus filed with NSE Emerge, 61,99,200 equity shares are offered at a price band of Rs. 101 Lower Band (LB) to Rs. 107 Upper Band (UB) per Equity Share (including a premium of Rs 97 per Equity Share). Retail Investors would be required to subscribe to a minimum of 1 lot of 1200 shares. The proposed IPO of Rs. 66.33 crores (UB) would comprise a fresh issue of up to 46,99,200 equity shares. Aggregating to Rs. 29.00 crores (UB) would be utilized for additional working capital required to fund future growth requirements of the Company, Rs. 3.54 crores (UB) would be utilized for Prepayment or repayment of all or a portion of certain outstanding borrowings and Rs. 16.05 crores (UB) would be utilized for an offer for sale.

GYR Capital Advisors Private Limited is the Book Running Lead Manager of the Issue. 

Incorporated in 2002, Essen Speciality Films Limited manufactures sustainable plastic products, and it is one of the very few companies in India which is compliant with numerous Indian and International Compliances. They are a certified supplier to renowned multinational modern trade and Fortune 500 retailers. The company caters to market in 6 Product Categories – Bath Essentials, Kitchen & Dinning, Home Décor, Storage & Organization, Fitness & Lifestyle, Outdoor & Utility, and other customized products. The complete range of sustainable plastic products they manufacture cater to retailers globally and the products are certified by global certifications such as Global Recycled Standard, Recycled Claim Standard, Forest Stewardship Council, and OEKO-TEX (standard 100) etc. The company has about 78% of its total sales from exporting its product and 22% from domestic sales.

With increasing urbanization and disposable income partnered with gaining prominence of Decorative Plastic and the use of recycled plastic to boost sustainability across both developed and developing markets, had helped the polypropylene demand in India grew at a CAGR of ~ 8.51% (2015-2019) and is expected to achieve a healthy growth rate in 2022-2030. According to the report “Global Plastic Market 2021-2025″, the Global Plastic Market is expected to grow by $ 19683.57 million during 2021-2025, progressing at a CAGR of 5.73% during the forecast period. Pallav Doshi, Chairman and Whole Time Director of Essen Speciality Films Limited says, “Our fully-integrated sustainable and technologically advanced manufacturing unit supports new & innovative products and sustainable plastic solutions for the Home Furnishing and Home Décor. Our products that meet the global standard, position us for long-term growth in a promising industry. We are working towards Strengthening our marketing network, expanding our existing product portfolio, maximizing economies of scale, and increasing our global presence. Essen Speciality Films Limited. has been positioned for sustainable growth in the coming years”.

Here are key things to know about the Essen Speciality Films Limited IPO.

Issue Dates: The IPO opens for public subscription on June 23, 2023, and will close on June 27, 2023. The basis of allotment of shares will be fixed on July 03 and initiation of refunds will take place on July 04, 2023. The shares will be credited to the Demat accounts of allottees on July 05, 2023. The shares of Essen Speciality Films will be listed on July 06, 2023, at the NSE Emerge platform.

Issue Size: Rs. 66.33 Crores

IPO share reservations: Not more than 50% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) including Anchor, and not less than 15% of the Net Offer will be available for allocation on a proportionate basis to Non- Institutional Investors and not less than 35% of the Net Offer will be available for allocation to Retail Individual Investors

Lot size: The market lot size is 1200 Equity shares. The minimum investment for retail investors for one lot will be range from Rs. 1,21,200 (Lower band) to Rs. 1,28,400 (Upper band).

IPO Key Intermediaries: The Book Running Lead manager to the Offer is GYR Capital Advisors Pvt. Ltd. and Bigshare Services Pvt. Ltd. is the Registrar to the Offer.