Barflex Polyfilms IPO Day 2: Issue subscribed nearly 3 times on strong retail demand; check price band, key dates

Barflex Polyfilms IPO has been subscribed nearly 3 times so far on Monday, January 10, the second day of subscription. The retail subscribers led the bidding.

The ₹39.42-crore initial public offering (IPO) of the packaging materials producer is open for bidding till Wednesday, January 15.

The NSE SME issue was subscribed 2.92 times until 3:15. Retail investors subscribed their portion 5.26 times, while the non-institutional investors (NIIs) part was booked 1.32 times.

Ahead of the launch of its IPO, Barflex Polyfilms raised a total of ₹11.21 crore from anchor investors on January 9. According to the circular on the stock exchanges, the company allotted 18.68 lakh shares to six entities at an anchor investor issue price of ₹60 per equity share.

Here’s a look at all the key details about the issue for the investors interested in applying for the shares of Barflex Polyfilms Ltd.

Barflex Polyfilms IPO price band and other key details

The company has fixed the price band at ₹57 to ₹60 per share for the IPO. The minimum lot size is 2,000 shares.

Almondz Financial Services Ltd is the book-running lead manager of the Barflex Polyfilms IPO, while Maashitla Securities Private Ltd is the registrar for the issue. The market maker for the IPO is Almondz Global Securities Ltd.

Barflex Polyfilms IPO key dates

The IPO allotment status is expected to be finalised on Thursday, January 16. Refunds are scheduled to be processed on Friday, January 17. The company will also transfer shares to the Demat accounts the same day.

The IPO listing date has been tentatively fixed as January 20. Shares of Barflex Polyfilms will be listed on the NSE SME platform, Emerge.

About Barflex Polyfilms and use of IPO proceeds

Barflex Polyfilms is a leading manufacturer of flexible packaging materials, specialising in a wide range of high-quality packaging materials like COEX films, laminates, and labels. The company primarily caters to the customers in the FMCG, processed foods, adhesives, engineering, pharmaceuticals, cosmetics and construction industries.

As per Barflex Polyfilms’s RHP, the company will be using the proceeds from the IPO to fund capital expenditure towards the purchase of additional plant and machinery, and for General Corporate Purposes.

The packaging company’s revenue from operations stood at ₹65.68 crore in the period ended November 30, 2024. The profit after tax (PAT) reported to be ₹13.5 crore during the same period.

For the financial year ended March 31, 2024, Barflex Polyfilms’s revenue from operations stood at ₹110.23 crore compared to ₹109.2 crore in the preceding fiscal year (FY23). Profit after tax for FY24 was ₹16.23 crore compared to ₹10.13 crore in FY23.