7,985,619 Equity Shares of Sabar Flex India Limited are subject to a Lock-Up Agreement Ending on 19-SEP-2023.
September 18, 2023
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7,985,619 Equity Shares of Sabar Flex India Limited are subject to a Lock-Up Agreement Ending on 19-SEP-2023. These Equity Shares will be under lockup for 364 days starting from 20-SEP-2022 to 19-SEP-2023.
Details:
Pursuant to Regulation 236 and 238 of the SEBI (ICDR) Regulations, an aggregate of 20.00% of the fully diluted post Issue capital of the Company held by the Promoters shall be locked in for a period of three years from the date of Allotment (?Minimum Promoter? Contribution?), and the Promoters? shareholding in excess of 20% of the fully diluted post-Issue Equity Share capital shall be locked in for a period of one year from the date of Allotment.
Other than the Equity Shares locked-in as Promoter?s Contribution for a period of three years, the entire pre-Issue capital of the Company, including the excess of minimum Promoter? Contribution, as per Regulation 238 of the SEBI (ICDR) Regulations, shall be locked in for a period of one year from the date of Allotment of Equity Shares in the Issue.
Sabar Flex India Limited is an India-based manufacturer and supplier of all kinds of flexible packaging materials, which are used for packing of food, dairy, cosmetic, pharmaceutical, chemical and agriculture products, among others. The Company's product range includes stretch and colored silage films/clinging films, such as stretch wrapping film, silage stretch film and colored silage film; shrink films, such as natural shrink film and colored shrink film; laminated films, such as general laminated film, aluminum laminated film and multicolored laminated film; agricultural films, such as black silver mulch, black white mulch and colored mulch, and liner bags. The Company's stretch and colored silage films/clinging films are used in pallet packaging, food packaging, bulk packing, machinery and component packing, among others. Its agricultural films are used in agriculture field, such as PE based mulch film, pond liners and low tunnel film for controlling of weed.