Goblin India Pvt. Ltd. Soon to Become the Nation’s Third Listed Company in Luggage Industry

16 September 2019

Business Wire India
Goblin is soon going to become India’s third company in the luggage industry to launch an IPO with an approximate size of INR 15 Crores. The Face Value of this IPO is of INR 10 per equity share with a price band of INR 48-51 per equity share. To undertake this IPO launch, 360 Financials LLP is appointed as lead advisors & Fast-track Finsec as lead managers. This SME IPO launch on BSE SME is scheduled tentatively to occur between the 5th of September & the 10th of September this year.

The idea is to use the net proceeds obtained from this launch to increase Goblin’s reach by increasing their number of dealers across the nation to 1000 from the present 300. They are also planning to set up a new production unit in India. And Looking for expansion in the UK and Germany. Both these steps will help in expanding the company across the nation, from its present turnover of 75 crores per annum. Mr. Yogesh Choudhary, who is an industrialist from Jaipur running Jaipur rugs has already pre-investing in the company an amount of INR 1 crore.
About Goblin

Goblin India Pvt. Ltd. is an Ahmedabad based luggage company that delivers a large range of products, from hard to soft luggage articles and also other travel luggage accessories like laptop bags, cabin bags, bag packs, etc. They are amongst very few companies who are into manufacturing of Tech-driven innovative luggage products.

Goblin has received an encouragingly positive response from its customers over the tenure of the last few years. They aim to reach an annual turnover of INR 120 Cr by 2021-22.

In the year 2001, Mr. Manoj Choukhany, the Chairman & MD of Goblin established the company with a vision of creating a popular & trustworthy luggage brand that could cater to the needs of individuals & companies throughout the world through their creative products. Today the Indian Luggage Industry is engaged in the production of both Hard & soft luggage bags. But the increasing inclination to hassle-free traveling, calls for new luggage categories, preferably in soft luggage sector. This is evident from the fact that presently the soft luggage segment in the Indian Luggage Industry accounts for 75% of the total sells. Also, there is a rising preference for short-haul travel products. The Indian travel & goods accessories industry has recorded an average growth rate of 15% in FN 2017 to value at INR 204 Bn.

The company has now started selling products on e-commerce websites like Flipkart & Amazon, besides their own website in order to increase their reach. Presently, they are creating & enforcing their image through an incentive distribution network of around 84 vendors across the nation. In the following couple of years, Goblin plans to open its own retail outlets in the country at Ahmedabad, Mumbai, Delhi, Bangalore, and Hyderabad. Right now, their luggage bags can be found in any of the 36 AVA Merchandising outlets of AVA stores at Airport across PAN India