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Twinkle Papers IPO

Twinkle Papers IPO

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Twinkle Papers IPO Details

RHP/DRHP

Issue Date

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Price Range

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Lot Size

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IPO Size

N/A

Schedule of Twinkle Papers IPO

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

About Twinkle Papers IPO

The offer consists of a fresh issue component. The fresh issue will include up to 39,88,000 equity shares having face value of ₹10/- each. The total number of shares and aggregate amount are yet to be finalised.

Twinkle Papers Limited manufactures corrugated boxes and polymer-based moulded packaging products. For the last 28 years they have been a part of this industry. They are located in Malerkotla (30 km from Ludhiana) on the Malerkotla-Ludhiana Highway. They commenced their journey in 1999 with the installation of their first blow-moulding machine, which allowed them to start manufacturing poly jars and HDPE cans. They expanded their capabilities by introducing new technologies over time. In 2021, they installed an injection moulding machine for manufacturing plastic crates. In 2022, they installed a rotational moulding machine for making roto-moulded pallets. In 2023, they further strengthened their plastic product line by installing another injection moulding machine to produce plastic pallets.

Objectives of Twinkle Papers IPO

  • To purchase and install a 1000KWp rooftop solar power plant.
  • To purchase and install machinery at the existing manufacturing facility.
  • To repay a portion of the loans availed by the company.
  • To meet the working capital requirements of the company.
  • To meet general corporate purposes.
  • To meet the issue expenses.

Twinkle Papers IPO Valuation

Share Offer and Subscription Details

Industry Outlook

The Indian plastic industry is one of the leading sectors in the country's economy. The history of the plastic industry in India dates back to 1957 with the production of polystyrene. Since then, the industry has made substantial progress and has grown rapidly. The industry is present across the country and has more than 2,500 exporters. It employs more than 4 million people in the country and constitutes 30,000 processing units; among these, 85-90% belong to small and medium-sized enterprises.

India's plastic industry will play a significant role as India sprints towards becoming a global manufacturing hub. Currently, with a renewed focus on preserving the environment, numerous industries are modifying their plastic to make it more environmentally friendly. This is a complicated task, as there are multiple distinct plastic grades, and each one requires a separate recycling procedure; some forms of weak plastic cannot be recycled in a way that is profitable for business. To handle this, corporations are engaging in a variety of CSR initiatives by allocating funds and resources to solve these problems and protect the environment from plastic waste pollution. The goal is to utilise plastic as effectively as possible without affecting or endangering the nature around us.

According to the India Plastics Pact's (IPP) Roadmap to 2030, the target is to eliminate all unnecessary plastic waste and items, and make 100% of plastic packaging reusable, recyclable or compostable by 2030. The starting point is to establish a list of plastic packaging products that are unneeded or problematic, and take action to address them through redesign and innovation. New technology and higher-quality plastic will also help India progress towards this goal.

Company Information

Twinkle Papers Limited is a manufacturer of corrugated boxes and polymer-based moulded packaging products. They have been engaged in this industry for the last 28 years. The company is located in Malerkotla (30 km from Ludhiana) on the Malerkotla-Ludhiana Highway. Their journey began in 1999 with the installation of their first blow-moulding machine, which allowed them to start manufacturing poly jars and HDPE cans. Over time, they expanded their capabilities by introducing new technologies. Today, they manufacture a wide range of packaging and material-handling products, including corrugated boxes, plastic pallets, crates, HDPE cans, poly jars, jerry cans and drums, polythene sheets and poly bags, and plastic chairs.

Their plastic products are made using advanced technologies like blow moulding, injection moulding, and rotational moulding. These are mainly used in industries such as food, dairy, construction chemicals, pharmaceuticals, textiles, and more.

They sell all their products under the brand name ‘Twinkle’, catering to a diverse range of industries. Their in-house R&D team works closely with clients to design custom polymer solutions that address specific packaging challenges. Their manufacturing facilities also comply with ISO 9000:2015 systems.

Promoter's vast experience in the packaging industry

Their promoter, Mr. Amit Jain, has 30 years' experience in the packaging and plastic industry – taking care of marketing and production areas. They believe that their experience, knowledge and human resources will enable them to drive the business in a successful and profitable manner.

Differentiated product portfolio enabling them to serve as a comprehensive plastic packaging solution provider

The company makes corrugated boxes & plastic packaging products of different sizes catering to various industries. They make customised corrugated boxes of different sizes based on customer preferences. They also manufacture pallets, crates, drums, cans, jerry cans etc. of various sizes and colours based on orders received.

Customer base in diverse industries

The company provides packaging solutions to various industries such as the textile sector, paper mills, food and beverage industry, healthcare, chemical/paint, power and battery manufacturers, and the telecom industry. This also ensures that the downfall of any one industry does not affect the company to a large extent.

Non-perishable raw material

The raw material, i.e., the plastic granules used for manufacturing plastic packaging products, is non-perishable in nature. The scrap leftover after manufacturing finished products can be recycled and reused after grinding it back into granules. This ensures almost no wastage of raw material.

Adverse changes in the state of Punjab

They provide services in various states across India, but a major proportion of their revenue from operations comes from the state of Punjab. In the event of a regional slowdown in economic activity in Punjab or any other developments including political unrest, disruption or sustained economic downturn or natural calamities in those regions affecting the ability of their merchants to continue their operations within their respective communities, or that make their products in these states less available or attractive and beneficial to customers, they may experience an adverse effect on their financial condition and results of operations, which are largely dependent on the performance, geopolitical and other prevailing conditions affecting the economies of the state. The market in Punjab may perform differently from, and be subject to, market and regulatory developments that are different from the requirements in other states of India. There can be no assurance that the demand for their products will grow, or will not decrease, in the future, in these regions.

Disruption to their operations due to power supply interruptions

Their manufacturing premises and offices have significant electricity requirements, and any interruption in power supply may disrupt their operations. Their business and financial results may be affected by any disruption of operations. They meet their power requirements at their manufacturing facility from Punjab State Power Corporation Limited. Since they have significant power consumption, any unexpected or significant increase in its tariff can increase the operating cost of factories and production cost which they may not be able to pass on to their customers; this shall have an impact on the profitability and turnover of the company.

Fluctuations in raw material prices

Their business depends on the availability and pricing of key raw materials, primarily plastic granules and kraft paper. The prices of these raw materials are subject to fluctuations due to various factors, including global and domestic demand-supply dynamics, regulatory changes, crude oil price movements (for plastic granules), and environmental policies. They do not have long-term supply agreements and typically procure raw materials on a spot basis, exposing them to market price volatility. A sharp increase in plastic granule prices may significantly impact their manufacturing costs, given their heavy reliance on plastic products. Similarly, fluctuations in kraft paper prices can affect their profitability in the paper segment. While they have been able to pass on cost increases to customers in the past, there is often a time lag, and competitive market conditions may limit their ability to do so. Any inability to manage raw material cost fluctuations efficiently could adversely impact their margins, cash flows, and overall financial condition.

Introduction of alternative packaging materials and evolving industry trends

Their products, including corrugated boxes, plastic crates, pallets, and jerry cans/polyjars and drums, cater to industries requiring packaging and material handling solutions. The demand for these products is influenced by changes in technology, industry trends, consumer preferences, environmental regulations, and evolving sustainability standards. Additionally, advancements in packaging design, increased emphasis on sustainability, or shifts in customer preferences towards different materials may require them to adapt their product offerings. Failure to innovate, develop, and introduce new products in response to these changes could impact their competitiveness, affect customer demand, and ultimately have an adverse effect on their business operations, profitability, and future growth.

Any change in quality norms by their customers for moulded industrial packaging

A substantial part of their revenue is received from their moulded plastic industrial packaging products. They are required to adhere to government policies, international standards or customer quality norms for manufacturing industrial packaging products. At times, some specific changes or requirements are also required by their clients which they comply with as per their requirements. However, in the event of any major changes in these standards due to government policies or international norms and client requirements may lead to major disruption in their business of manufacturing industrial packaging products. They may have to comply with these changes which may require them to obtain newer and more expensive raw materials that may be compatible with the technology used by them presently for their manufacturing process. Furthermore, they may not be able to assure that they will be able to adapt to such changes and whether such changes will be viable considering various parameters of the particular requirements. Such disruption may adversely affect their business growth, operations, and financials.

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Comparison with peers

Anchor Investor Bidding Date: TBA

Registrar: Alankit Assigments Limited Book Running Lead Managers: Fast Track Finsec Private Limited

Business Model

The company earns its revenue through the following: Manufacturing corrugated boxes and polymer-based moulded packaging products.

Company Growth Trajectory

Total income for the period that ended 31 December 2024 stood at ₹58.26 crores, whereas in the financial year 2023-24, it stood at ₹58.75 crores, which is almost equivalent to 99.17% of the total income registered in the full financial year 2023-24.

Total revenue from operations for the period that ended 31 December 2024 stood at ₹57.51 crores, whereas in financial year 2023-24, it stood at ₹57.89 crores, which is almost equivalent to 99.33% of the total revenue from operations registered in the full financial year 2023-24. This is due to increased sales of pallets, cans, and jerry cans owing to synergy benefits in the stub period. The restated Profit After Tax (PAT) for the period that ended 31 December 2024 stood at ₹2.94 crores, whereas in the financial year 2023-24 it stood at ₹1.60 crores, which represents 5.04% and 2.72% of the total income of the corresponding periods respectively.

Twinkle Papers IPO Profit and Loss

Twinkle Papers IPO Balance Sheet

How to check allotment status of Twinkle Papers IPO?

1. Visit the Registrar's Website To check the IPO allotment status for Twinkle Papers Limited IPO, visit the official website of Alankit Assigments Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

  • Select 'Equity' from the dropdown menu
  • Choose 'Twinkle Papers Limited' in the next dropdown
  • Enter your application number
  • Enter your PAN
  • Click 'Search'

Your Twinkle Papers Limited IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Twinkle Papers Limited IPO allotment status.

Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

  • Application number
  • PAN

Then click 'Submit'. Your Twinkle Papers IPO bid and allotment details will be displayed.

How to apply for Twinkle Papers IPO?

  • Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  • Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
  • Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  • Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  • Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.

Twinkle Papers IPO FAQs

The Twinkle Papers IPO opens for subscription from [-] to [-], with a total issue size of [-]. The IPO price band is ₹[-] per share with a lot size of [-]. The company aims to list the shares on BSE & NSE on [-].

The Twinkle Papers IPO will open for subscription on [-] and will close on [-] for investors.

The minimum lot size for the Twinkle Papers IPO is [-] equity shares, requiring a minimum investment of ₹[-] for retail investors applying in the IPO.

The price band of the Twinkle Papers IPO has been fixed at ₹[-] per equity share.

You can apply for the Twinkle Papers IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

Twinkle Papers IPO allotment will take place on [-].

You can check the Twinkle Papers IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

Twinkle Papers shares will list on the stock exchanges on [-].

You can find detailed information about the Twinkle Papers IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).

Yes, Twinkle Papers Limited is expected to come up with its IPO soon.

Amit Jain is the Chairman of Twinkle Papers IPO.

The company hasn’t given any information on the lot size yet.

You may read more about Twinkle Papers Limited and its IPO from the company’s draft red herring prospectus (DRHP) here.

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