Bulkcorp International Announces IPO Amidst Robust Financial Performance

Bulkcorp International, a renowned FIBC manufacturer, announces its IPO slated for July 2024. The company reported a significant revenue increase in the last fiscal year and aims to use the proceeds for solar power plant setup, working capital, and general corporate purposes.

New Delhi, India – Bulkcorp International, an established manufacturer of Food Grade Flexible Intermediate Bulk Container (FIBC) bags, has announced its initial public offering (IPO) scheduled for July 2024. Incorporated in 2009, the Ahmedabad-based company is ISO certified and complies with stringent safety standards.

The IPO will see Bulkcorp offering up to 19,78,800 fresh equity shares with a face value of Rs 10 each. The issue size is estimated at Rs 20.78 crore, with a price band set between Rs 100 and Rs 105 per share. Investors can start bidding from July 29, 2024, and the issue will close on August 1, 2024. The book-built issue type will include various quotas for different investor categories based on laid down proportions.

The proceeds from the IPO will be used for setting up a solar power plant, meeting working capital requirements, and other corporate purposes. Bulkcorp boasts a strategic locational advantage for its manufacturing unit and caters to global industries, including agriculture, chemical, construction, food, pharmaceutical, and mining. Recognized as a one star export house, the company reported impressive export-based sales growth over the past four years and substantial year-on-year revenue growth, reaching Rs 46.50 crore in the latest fiscal year.