On the final day of the process, Barflex Polyfilms’ SME IPO, which planned to raise Rs 39 crore, received 151.52 subscriptions.
The issue was subscribed to 373.12 times by non-institutional investors, compared to 98.48 times by retail investors. In the meantime, 78.22 times as many qualified institutional buyers (QIBs) subscribed.
Bidding on the issue, which consists of an offer for sale (OFS) of 45.16 lakh shares and a fresh equity sale for Rs 12 crore, will be open till January 15.
The company’s shares are scheduled to go public on the NSE SME market.
Barflex Polyfilms IPO price range
With a minimum lot size of 2,000 shares, Barflex Polyfilms has set its initial public offering (IPO) pricing range at Rs 57–60 per share. Qualified Institutional Buyers (QIBs) will receive 50% of the IPO allocation, retail investors will receive 35%, and non-institutional investors will receive 15%.
Day 4 GMP of Barflex Polyfilms’ IPO
On Wednesday, shares of Barflex Polyfilms sold for a grey market premium (GMP) of Rs 15 ahead of the IPO. This implies a 25% premium over the Rs 60 maximum price range of the IPO.
IPO proceeds
The company plans to use the IPO’s net proceeds for general corporate objectives and capital expenditures, namely for the purchase of more equipment and plant.
About the IPO of Barflex Polyfilms
PVC labels, barrier COEX films, and laminates are among the flexible packaging materials that Barflex Polyfilms excels in manufacturing. Offering multipurpose packaging solutions, these goods cater to a variety of industries.
Flexible printed laminates (2-, 3-, and 4-ply), laminate pouches, BOPP labels, PVC shrink labels, and 3- and 5-layer COEX films are among the company’s product offerings. A wide range of industries, including FMCG, processed foods, adhesives, electronics, cosmetics, engineering, and construction, use these materials.
Favorable demographics, increased disposable incomes, greater consumer awareness, and a growing demand for processed goods are all factors driving India’s packaging business, which is expected to develop significantly. The growth of global corporations in the food, beverage, cosmetic, and pharmaceutical industries contributes to this tendency.
Additionally, package suppliers as well as end users are driving the transition from bulk to retail, unit-level, and small-sized packaging. The packaging market in India is seeing further positive momentum due to the quick expansion of organized retail and the relaxation of FDI regulations in the retail and other industries.
The Indian packaging market is further boosted by the quick expansion of organized retail and the relaxation of FDI regulations in the retail and other industries.
Lead manager for book-running for IPO
For the initial public offering (IPO), the business has chosen Integrated Maashitla Securities Pvt. as the registrant, and Almondz Management Services Ltd. as the book-running lead manager. This SME public offering will be market-made by Almondz Global Securities Ltd.