Cool Caps Industries Limited (Cool Caps), engaged in the business of manufacturing a wide range of plastic bottle caps and closures, proposes to open its initial public offer (IPO) of 30,60,000 equity shares of Rs.10 each under book building process aggregating to Rs. 1,162.80 lakh. The company said in a statement that it will announce the price band soon. The issue is proposed to be listed on the NSE Emerge platform. It will open on March 10, 2022 and will close on March 15, 2022.
The net proceeds from the IPO will be utilized to meet working capital requirements and for general corporate purposes.
The Lead Manager to the Issue is Holani Consultants Private Limited and The Registrar to the Issue is Link Intime India Private Limited.
Founded in 2015, the company is manufacturing bottle caps and closures which include soda bottle caps, soft drink bottle caps, mineral water bottle caps, juice bottle caps and closures as per client specifications from units situated in Howrah in West Bengal and Kotdwar in Uttarakhand.
Promoted by Purv Flexipack Private Limited, Rajeev Goenka and Vanshay Goenka, the company also into manufacturing N95 Face Masks from its unit situated in Howrah, West Bengal. Besides, it is also involved in the manufacturing of shrink films through its subsidiary Purv Ecoplast Pvt Ltd. and trading of plastic granules to provide one-stop packaging solutions to its customers.
The Company has its offices located in Kolkata, West Bengal.
The consolidated sales of the Company for the year ended on March 31, 2021 stood at Rs. 3,129.84 lakh, and PAT at Rs. 291.72 lakh. For the last 3 financial years, FY19 – FY21 the company’s revenue has grown at a CAGR of 27.68 while EBITDA and PAT have grown at a CAGR of 46.19 percent and 45.99 percent respectively, it said.
Rajeev Goenka, Promoter, Chairman and Managing Director, Cool Caps said, “We are in the sunrise industry as consumption and demand for the safe and branded food and beverages products are increasing. Every bottled product requires caps and closures so opportunities in the markets are numerous. With our long-term relations with our clients and our capability we are in a very good position to capture the growth opportunity.”
Ashok Holani, Director, Holani Consultants Private Limited, BRLM to the issue highlighting the Issue and investment rationale said, “Cool Caps is one of the leading players in the plastic caps and closure industry with commendable market share and the company is having a continuous track record for the profits. The issue is also fairly priced at the Pre issue P/E multiple of 11.07 on FY21 EPS of Rs.3.43 per share.”
