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Cool Caps Industries Limited (Cool Caps) is 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. Price Band shall be announced soon; the Issue is proposed to be list on the NSE Emerge platform. The issue will open on 10th March, 2022 and will close on 15th March 2022.
The net proceeds from the IPO will be utilized to meet working capital requirements and for general corporate purposes.
The company has established strong clients like Bisleri, Kingfisher, IRCTC, Patanjali, Clear, etc to supply plastic bottle caps.
The company is also into manufacturing N95 Face Masks from its unit situated in Howrah, West Bengal to help the community during the COVID-19 pandemic. 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.
Cool Caps reported consolidated Sales of for March 31, 2021 at Rs. 3,129.84 lakh, The Company's consolidated Profit after tax for the year ended on March 31, 2021 stood at Rs. 291.72 lakh. For the last 3 financial years, FY19 - FY21 company's Revenue has grown at a CAGR of 27.68 while EBITDA & PAT have grown at a CAGR of 46.19% & 45.99% respectively.
According to 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."
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