Creative Graphics IPO opens today

The IPO of Creative Graphics Solutions India opens for subscription on 28 March 2024 and closes on 4 April 2024. The IPO is a book-built issue of Rs 54.40-crore. The issue is entirely a fresh issue of 64 lakh shares with a face value of Rs 10 and will be listed at NSE SME.

28 Mar 2024 | By Rahul Kumar

Deepanshu Goel, founder of Creative Graphics

The IPO price band is set at Rs 80 to Rs 85 per share. Corporate Capital Ventures is the sole Book Running Lead Manager for the issue.

The company has allotted 3.2 lakh equity shares for market maker, 9.12 lakh equity shares allocated for NIIs, 30.4 lakh equity shares for QIBs (including 18.24 lakh equity shares as anchor investor portion), and the Retail (RII) portion accounts for 21.28 lakh equity shares. The lot size is 1,600 shares.

The company intends to utilise net proceeds to meet the working capital requirements of the company, repay/prepay, in part or full of certain of the company’s borrowings, meet the capital expenditure of the company, fund the inorganic growth through unidentified acquisition for company and general corporate expenses. Creative Graphics is looking to raise approximately Rs 54.4-crore from the offering.

The company clocked revenue of Rs 48.07-crore and earned a profit (PAT) of Rs 7.24-crore during the first half of the current fiscal year, which ended September 30, 2023. It registered revenue of Rs 90.14-crore and a profit (PAT) of Rs 8.64-crore in FY2022-23.