On the first day of trading on January 20, the shares of Barflex Polyfilms made a lackluster debut on the NSE SME platform by remaining stuck at the IPO level of ₹60 per share.
After listing, the stock of the company went up to ₹63 from the IPO price of ₹60, showing an increase of 5 percent. It was an IPO of around ₹39.42 crore. The subscription to the SME IPO started on January 10, 2015, and ended on January 15, 2015.
The issue consisted of a new issue of 20,53,200 equity shares at ₹60 per share, amounting to ₹12,32,32,000, and an offer for sale of 45,17,000 equity shares at ₹60 per share, aggregating ₹ 27,10,20,000. The IPO garnered a strong response and was subscribed 151.52 times.
Notably, the non-institutional investor (NII) segment was oversubscribed 373 times, and for the remainder of the offer reserved for the retail segment, it was oversubscribed by 98.48 times as per the Extent of Subscription Indicative of the Exchange Data.
The company’s proposal is to use the net proceeds to part-fund capital expenditure for acquiring plant and machinery and for other corporate requirements.
The Barflex Polyfilms’ IPO was managed by Almondz Financial Services Ltd as the book-running lead manager and Maashitla Securities Private Limited as the registrar. The market maker for Barflex Polyfilms IPO is Almondz Global Securities Ltd.
About Barflex Polyfilms
In this respect, the company is involved in the production of COEX films, laminates, and labels. It produces flexible packaging material used for packaging products of the FMCG segment, processed foods, adhesive, engineering, pharmaceuticals, cosmetics, and construction industries, among others.
Some of its biggest clients are well-established brands in their respective industries and in the local market. Currently, the company produces 3-layer poly films, 5-layer poly films, laminates, vacuum pouches, 5-layer bulk liners, and PVC shrink labels.
Future Prospects
Looking ahead, Barflex Polyfilms aims to leverage its listing to strengthen its position in the flexible packaging sector. The company has expressed intentions to explore new product lines and tap into emerging markets to drive growth.
As it navigates this new chapter as a publicly traded entity, stakeholders will be closely monitoring how it capitalizes on its market presence and addresses operational challenges.