Barflex Polyfilms initial public offering (IPO) opened for subscription on January 10. The small and medium enterprise (SME) IPO was fully subscribed on the first day of bidding.
Barflex Polyfilms specializes in producing flexible packaging materials, including barrier COEX films, laminates, and PVC (polyvinyl chloride) labels. These versatile products meet the packaging needs of a wide range of industries.
Barflex Polyfilms IPO subscription status
The SME IPO was subscribed over 1.34 times on the first day of bidding on January 10. The issue received 58,70,000 bids against offered 43,65,000 shares, according to chittorgarh.com.
The retail portion was subscribed 2.39 times by the end of the day, meanwhile, non-institutional investors (NIIs) portion was subscribed 0.69 times. QIB category remained unsubscribed.
Barflex Polyfilms IPO details
The SME issue comprises a fresh equity issuance of ₹12 crore and an offer for sale (OFS) of 45.16 lakh shares, will remain open for bidding until January 15.
The Barflex Polyfilms IPO is priced between ₹50 and ₹57 per share, with investors required to bid for a minimum of 2,000 shares per lot. Approximately 50% of the shares are allocated for Qualified Institutional Buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.
The allotment for the Barflex Polyfilms IPO is expected to be finalized on Thursday, January 16, 2025. Barflex Polyfilms IPO will list on NSE SME with tentative listing date fixed as Monday, January 20, 2025.
Almondz Financial Services Ltd is the book running lead manager of the Barflex Polyfilms IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Barflex Polyfilms IPO is Almondz Global Securities Limited.
Barflex Polyfilms Ltd. reported a revenue of ₹78.02 crore and a net profit of ₹13.49 crore for the period ending November 30, 2024, in the current fiscal year. For FY24, the company’s revenue grew by 5.17 per cent, reaching ₹116.12 crore compared to ₹110.4 crore in FY23. Additionally, its net profit saw a significant year-on-year increase of 60.14 per cent, rising to ₹16.23 crore in FY24 from ₹10.13 crore in the previous fiscal year.
