Barflex Polyfilms IPO: Issue booked over 151 times on last day, check subscription, listing date and more

The initial public offering (IPO) of Barflex Polyfilms Ltd witnessed a strong demand on the last day of bidding. The NSE SME issue closed with a subscription of more than 151 times on the fourth day of bidding on Wednesday, January 15.

At the end of bidding at 5 pm, the IPO was oversubscribed 151.59 times with bids for over 66.17 crore shares against 43.65 lakh shares on offer.

The Non-Institutional Investors (NII) segment was subscribed 373.48 times. The NIIs applied for more than 34.92 crore shares against 9.35 lakh shares set aside for them.

The retail portion was subscribed 98.48 times, with bids for nearly 21.49 crore shares against 21.82 lakh shares kept aside for the segment. The Qualified Institutional Buyers (QIBs) quota was overbought 78.22 times. The QIBs submitted applications for 9.76 crore shares compared to 12.48 lakh shares reserved for them.

Ahead of the launch of the IPO, Barflex Polyfilms had raised a total of ₹11.21 crore from anchor investors on January 9.

Here’s a look at the key details about the IPO:

Barflex Polyfilms IPO price band and other key details

The Barflex Polyfilms IPO was a 100% book-building issue aimed at raising a total of ₹39.42 crore from the primary market. The NSE SME issue comprised a fresh issuance of 20.53 lakh shares, worth up to ₹12.32 crore, and an offer-for-sale (OFS) of 45.17 lakh shares, aggregating to ₹27.1 crore.

The company had fixed the price band at ₹57 to ₹60 per share, while the lot size was 2,000 shares for the retail investors. The minimum application amount was ₹1,20,000 for at least a single lot size.

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

Barflex Polyfilms IPO key dates

Barflex Polyfilms IPO opened for subscription on January 10.

After the close of the four-day bidding window, the share allotment status of the IPO is expected to be finalised on January 16.

Successful bidders will receive the shares in their Demat accounts on January 17. Refunds will also be processed for the non-allottees on the same day.

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

Use of IPO proceeds

As per the Red Herring Prospectus, the company has proposed to use the proceeds from the fresh issuance of the IPO to fund capital expenditure towards the purchase of additional plant and machinery, and for general corporate purposes.

About Barflex Polyfilms

Barflex Polyfilms is a leading manufacturer of flexible packaging materials. The company specialises in the production of high-quality packaging materials like COEX films, laminates and labels. The company’s products are widely used in the FMCG, food processing, adhesives, engineering, pharmaceuticals, cosmetics and construction industries. It has three manufacturing units in Baddi, Himachal Pradesh.

In the financial year 2024-25, the company reported revenue of ₹78.02 crore for the period till November 2024. Profit after tax (PAT) stood at ₹13.49 crore during the period under review.

For the full financial year 2023-24, revenue increased to ₹116.12 crore compared to ₹110.4 crore in FY 2022-23. Its net profit for FY24 stood at ₹16.23 crore against ₹10.13 crore in FY23.