Barflex Polyfilms IPO Listing: Barflex Polyfilms shares made a flat market debut on Monday, January 20, as they were listed at ₹60 apiece on the NSE SME, the same as the IPO price of ₹60.
The stock, however, rallied post-listing to reach ₹63 apiece, marking a 5% jump from the IPO price. The SME IPO, valued at ₹39.42 crore, was open for subscription from January 10 to January 15. The issue was a combination of a fresh issue of 20.53 lakh shares aggregating to ₹12.32 crore and an offer for sale of 45.17 lakh shares aggregating to ₹27.10 crore. The IPO received a robust response, with an overall subscription of 151.52 times.
Notably, the non-institutional investor (NII) segment was oversubscribed by 373 times, while the retail portion saw an oversubscription of 98.48 times, as per the exchange data.
The company intends to utilise the net proceeds for funding capital expenditure towards the purchase of additional plant and machinery, as well as for general corporate purposes.
Almondz Financial Services Ltd acted as the book-running lead manager of the Barflex Polyfilms IPO, while Maashitla Securities Private Limited was the registrar for the issue. The market maker for Barflex Polyfilms IPO is Almondz Global Securities Limited.
For retail investors, the company set a minimum subscription value of ₹1,20,000 for each lot of 2,000 shares.
About Barflex Polyfilms
The company is engaged in the manufacturing of COEX films, laminates, and labels. It manufactures flexible packaging material suitable for packaging products in the FMCG industry, processed foods, adhesives, engineering, the pharmaceutical industry, cosmetics, the construction industry, and others.
Its major customers are known brands in their respective sectors as well as in the domestic market. At present, the company manufactures 3-layer poly films, 5-layer poly films, laminates, vacuum pouches, 5-layer bulk liners, and PVC shrink labels.
The company is planning to start manufacturing 7-layer films as well, post-expansion. This will help it to become a preferred vendor in packaging material for its customers.
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