From January 10 to January 15, the SME IPO, which had a valuation of ₹39.42 crore, was available for subscription at an IPO price of ₹60 per share. The initial public offering (IPO) was well welcomed, with 151.52 subscriptions.
Barflex Polyfilms IPO Listing:
On Monday, January 20, Barflex Polyfilms’ shares made a flat market debut after being listed on the NSE SME at ₹60 per, which was also the IPO price.
But after listing, the shares surged to ₹63 per share, a 5% increase over the IPO price. Subscriptions for the ₹39.42 crore SME IPO were accepted from January 10 to January 15. The offering consisted of an offer to sell 45.17 lakh shares for ₹27.10 crore and a new issue of 20.53 lakh shares totaling ₹12.32 crore. The initial public offering (IPO) was well welcomed, with 151.52 subscriptions.
According to the exchange statistics, the retail part saw a 98.48-fold oversubscription, and the non-institutional investor (NII) segment experienced a 373-fold oversubscription.
The business plans to use the net proceeds for general corporate purposes and finance capital expenditures to acquire new plant and machinery.
Maashitla Securities Private Limited was the issue’s registrar, while Almondz Financial Services Ltd. was the book-running lead manager for the Barflex Polyfilms IPO. Almondz Global Securities Limited is the market maker for Barflex Polyfilms’ initial public offering. The corporation imposed a minimum subscription value of ₹1,20,000 for each batch of 2,000 shares for retail investors.
About Barflex Polyfilms:
The corporation manufactures COEX films, laminates, and labels. It produces flexible packaging materials that may be used to package goods in various industries, including the FMCG, processed food, adhesive, engineering, pharmaceutical, cosmetic, and construction sectors.
Its main clients are well-known brands both domestically and in their respective industries. The firm now produces vacuum pouches, laminates, 3-layer and 5-layer poly films, 5-layer bulk liners, and PVC shrink labels.
After growth, the business intends to begin producing 7-layer films as well. As a result, it will become a favored supplier of packaging materials for its clients.
