Creative Graphics Solutions Files IPO to Raise Funds

New Delhi, Nov 2 (PTI) Integrated packaging ecosystem player Creative Graphics Solutions has filed its preliminary papers to raise funds through an Initial Public Offering (IPO).

The IPO is purely a fresh issuance of up to 64 lakh equity shares with a face value of Rs 10 per equity share and the shares of the company will be listed on NSE Emerge, the company said in a statement on Wednesday.

The company has appointed Corporate Capital Ventures as the book-running lead manager, and Bigshare Services Pvt Ltd as the registrar for the IPO.

Creative Graphics plans to use the net proceeds to invest in its subsidiary, Wahren India Pvt Ltd, to meet inorganic growth through unidentified acquisitions for the company, to meet the working capital requirements, and general corporate purposes, as per the statement.

"The flourishing pharmaceuticals and FMCG sectors open a flood of opportunities for our products, and we are poised to unleash and expand our capabilities with the capital we are raising through this IPO," Creative Graphics Solutions Promoter and Managing Director Deepanshu Goel said.

The Noida-headquartered company has clocked a revenue of Rs 91.78 crore and a profit of Rs 8.64 crore in FY23.

Incorporated in 2014, Creative Graphics specialises in manufacturing flexographic printing plates, including digital flexo plates, conventional flexo printing plates, letterpress plates, metal back plates, and coating plates.

It operates seven manufacturing facilities in Noida, Vasai, Pune, Chennai, Baddi, Hyderabad, and Ahmedabad.

Creative Graphics has two subsidiaries -- Creative Graphics Premedia (CG Premedia) and Wahren India.

While CG Premedia offers end-to-end premedia services, from design adaptation to print production and Wahren India supplies high-quality packaging solutions for the pharmaceutical industry.