Creative Graphics Solutions IPO opens today: Check price band & other details

Integrated packaging ecosystem player Creative Graphics Solutions India Ltd's initial share sale will open for public subscription on March 28 (Thursday). The Rs 54.4-crore public issue will conclude on April 4.

The IPO comprises a fresh issue of 64 lakh shares with a face value of Rs 10. The IPO price band has been set at Rs 80-85 per share.

The company has raised Rs 15.5 crore from anchor investors. Prominent investors, including BofA Securities Europe SA – ODI, QRG Investment and Holdings Ltd, Persistent Growth Fund – Varsu India Growth Story Scheme 1, Finavenue Capital Trust – Finavenue Growth Fund, Vikasa Global Fund PCC – Eubilia Capital Partners Fund I, Acintyo Investment Fund PCC – Cell 1, Absolute Return Scheme and Astorne Capital VCC Arven, participated in the anchor book subscription.

After the completion of the initial public offering (IPO), shares of the company will be listed on the NSE's Emerge -- a platform for small and medium enterprises.

Proceeds from the IPO will be used to meet working capital requirements of the company, repay debt, support working capital expenditure, fund inorganic growth through unidentified acquisition and general corporate expenses.

Creative Graphics specialises in manufacturing flexographic printing plates, including digital flexo Plates, conventional flexo printing plates, letter press plates, metal back plates, and coating plates. The company serves its customer base in India, Thailand, Qatar, Kuwait, Nepal, and Africa.

It operates seven manufacturing facilities in different states: Noida (Uttar Pradesh), Vasai, Pune (Maharashtra), Chennai (Tamil Nadu), Baddi (Himachal Pradesh), Hyderabad (Telangana), and Ahmedabad (Gujarat).

The company clocked a revenue of Rs 48.07 crore and earned a profit after tax of Rs 7.24 crore in the first half of the current fiscal year, which ended on September 30, 2023.

It recorded a revenue of Rs 90.14 crore and a profit after tax of Rs 8.64 crore in FY23.