Bhavik Enterprises Limited IPO

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Incorporated on September 15, 2008, Bhavik Enterprises Limited is a leading domestic B2B polymer trading company in India. The company specializes in Polyethylene (PE) and Polypropylene (PP), serving a wide range of industries including packaging, infrastructure, agriculture, and consumer goods. Bhavik Enterprises imports polymer materials, stores them in its warehouses, and distributes them to manufacturers of plastic products such as pipes, films, containers, and technical components.

Business Model

Bhavik Enterprises operates on a “Stock & Sale” model, catering to small, medium, and large customers. It emphasizes logistics efficiency, procurement expertise, and timely delivery, ensuring a seamless supply chain across its operational regions.

Product Portfolio

Bhavik Enterprises deals in various grades of polymers:

1. Polyethylene (PE): LLDPE, LDPE, HDPE, and MLLDPE, used in flexible and rigid packaging, films, containers, and consumer products.

2. Polypropylene (PP): Homo polymer, Impact Co-polymer, and Random Co-polymer, used for moldings, fibers, tapes, foam, and automotive or industrial components.

The company is an authorized distributor of Borouge Pte Ltd and maintains business relations with Basell International Trading FZE, importing and supplying their products to the Indian market.

Geographical Presence

The company supplies polymer products across several Indian states, including Gujarat, Maharashtra, Rajasthan, Diu-Daman, Uttar Pradesh, Telangana, Chhattisgarh, Madhya Pradesh, and Delhi. Major revenue contributors are Maharashtra, Gujarat, Rajasthan, and Diu-Daman, accounting for over 90% of sales in FY2025. The company plans to expand to additional Indian states and international markets.

Industries Catered

Bhavik Enterprises serves multiple industries:

1. Packaging: Flexible and rigid packaging, including stand-up pouches, milk pouches, laminated tubes, and squeezable bottles.
2. Agriculture: Mulch films, greenhouse films, drip irrigation systems, pond liners, and containers for fertilizers, pesticides, and dairy sanitizers.
3. Infrastructure: Pipes and fittings for water, gas, sewage, heating, refineries, petrochemicals, and oil & gas pipelines.

The company’s products enhance efficiency, durability, and sustainability across these sectors.

Objects of the Bhavik Enterprises Limited IPO:

Company proposes to utilize the Net Proceeds towards funding the following objects: 1. Funding Working Capital Requirements (₹47.50 cr) 3. General corporate purposes
DRHP of Bhavik Enterprises Limited IPO
RHP of Bhavik Enterprises Limited IPO

Bhavik Enterprises Limited IPO Details:

Open Date: Sep 25 2025
Close Date: Sep 30 2025
Total Shares: 55,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 77 Cr.
Lot Size: 1000 Shares
Issue Price: ₹ 140 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 06 2025

Promoters And Management:

1. Mr. Mukesh Natverlal Thakkar (Chairman & Whole-time Director, 70 yrs), B.Com. (1975, University of Bombay), with over 40 years of expertise in the plastic granules industry. Founder of M/s Emmen Plastic (1977). Key driver of company policy, strategy, expansion, and overall management including finance, HR, and compliance. His practical approach and leadership have been instrumental in guiding the company’s growth in a dynamic market. 2. Mr. Bhavik Mukesh Thakkar (Managing Director, 46 yrs), B.Com. (2000) and MMS (2002, University of Mumbai), with 15+ years of experience in plastic polymers. Leads sales, marketing, purchase, forex, treasury, supply chain, and logistics. Recipient of Entrepreneurs Award 2023–24. Recognized for his modern management skills and market-focused strategies, he is driving the company’s expansion and customer engagement initiatives. 3. Ms. Purnima Mukesh Thakkar (Executive Director, 68 yrs), B.A. (1977, Sardar Patel University), with 40+ years in the plastic polymers industry. Former partner at M/s Bhavik Enterprises (1984). Oversees overall administration of the company. Her industry knowledge and long-standing business acumen continue to strengthen operational efficiency and support strategic decision-making.

Financials of Bhavik Enterprises Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 527.26 494.12 487.26
EBITDA (Cr) 3.93 4.82 17.46
EBITDA Margins 0.75% 0.98% 3.58%
PAT (Cr) 5.68 7.89 15.55
PAT Margins 1.08% 1.60% 3.19%
ROCE 7.84% 11.55% 24.70%
Debt to Equity Ratio(In Times) - - -
Operating Cash Flows (Cr) -32.95 -2.76 14.35

Comparison With Peers:

According to RHP their is no listed peers Existed in same Business Segment.

Lead Manager of Bhavik Enterprises Limited IPO:

  1. Smart Horizon Capital Advisors Private Limited

Registrar of Bhavik Enterprises Limited IPO:

  1. Bigshare Services Private Limited

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