Mold-Tek Packaging raises Rs 103.6 cr via QIP issue
Hyderabad, December 24 , 2021 : Mold-Tek Packaging Ltd has received overwhelming response for its QIP issue, from many marquee investors. The Qualified Institutions Placement Committee , at its meeting held on December 17, 2021 approved the issue and allotment of 14,00,000 Equity Shares to the eligible qualified institutional buyers at a price of Rs 740/- per Equity which is at a premium of 17.60 per Equity Share i.e. 2.44% on the floor price of Rs 722,40 as per SEBI guidelines.
The funds who have invested in this QIP include marquee investors like Goldman Sachs India
Equity, White Oak India Equity Fund, Aditya Birla Sun Life Trustee Private Limited Plc,
ICICI Prudential Smallcap Fund and others.
As intimated earlier the company is planning to deploy these funds for its entry into Injection
Blow Moulding products for regulated pharmaceuticals, Food & FMCG, Cosmetics and OTC medicine segments.
Company is also introducing digital packaging through dynamic QR coded IML , which will
provide traceability , anti-counterfeit and marketing promotions facilities, that can be digitally
controlled by our clients. This unique DIGITAL packaging solution is bought to India for the
first time by Mold-Tek.
Mold-Tek is also investing in new plants at Kanpur, Sultanpur-Hyderabad and doubling its
capacity of existing plants in Mysore and Vishakapatnam, apart from augmenting its IML
printing, die-cutting and tool room capacities.
Motilal Oswal Investment Advisors Limited and Emkay Global acted as Book Running Lead
Managers to the said QIP Fund raise.
Referring the QIP success, Mr. Laxman, CMD said “Entry into high value added segments and
introducing digital packaging for the first time in India, may have attracted the interest of many
marquee investors. Issue of shares at a premium of 2.44% above the floor price indicates the
confidence investors have on our company’s performance”