On January 10, subscriptions for Barflex Polyfilms’ initial public offering (IPO) were available. On the first day of bidding, the small and medium business (SME) initial public offering (IPO) was subscribed entirely.
Barflex Polyfilms manufactures flexible packaging materials, such as PVC (polyvinyl chloride) labels, barrier COEX films, and laminates. Numerous industries’ packaging requirements are satisfied by these adaptable products.
Barflex Polyfilms IPO Subscription Status:
On the first day of bidding on January 10, the SME IPO was subscribed more than 1.34 times. According to chittorgarh.com, 58,70,000 bids were made on the offering, while 43,65,000 shares were offered.
By the conclusion of the day, the retail component had been subscribed 2.39 times, while the non-institutional investors (NIIs) portion had been subscribed 0.69 times. The QIB category was not subscribed to.
Barflex Polyfilms IPO Details:
The SME issue, which includes an offer for sale (OFS) of 45.16 lakh shares and a new equity issuance of ₹12 crore, will be up for bid till January 15.
Investors must bid for at least 2,000 shares per lot in the Barflex Polyfilms initial public offering (IPO), priced between ₹50 and ₹57 per share. (QIBs) receive around half of the shares, retail investors receive about 35%, and non-institutional investors receive the remaining 15%.
On Thursday, January 16, 2025, the allocation for the Barflex Polyfilms IPO is anticipated to be finalized. The proposed listing date for Barflex Polyfilms’ initial public offering (IPO) on the NSE SME is Monday, January 20, 2025.
Maashitla Securities Private Limited is the issue’s registrar, while Almondz Financial Services Ltd. is the book running lead manager for the Barflex Polyfilms IPO. Almondz Global Securities Limited is the market maker for Barflex Polyfilms’ initial public offering.
For the current fiscal year, which ended on November 30, 2024, Barflex Polyfilms Ltd. recorded ₹78.02 crore in sales and ₹13.49 crore in net profit. The company’s sales increased by 5.17 percent to ₹116.12 crore in FY24 from ₹110.4 crore in FY23. Furthermore, its net profit increased by 60.14 percent yearly, from ₹10.13 crore in the previous fiscal year to ₹16.23 crore in FY24.
