Barflex Polyfilms IPO closes today; Subscription reaches 15x, GMP up 23%

The unlisted shares of Barflex Polyfilms were trading at Rs 74 apiece, reflecting a grey market premium (GMP) of Rs 14 or 23.33 per cent against the upper end of the IPO price band of Rs 60

Barflex Polyfilms IPO GMP today: The unlisted shares of Barflex Polyfilms, whose initial public offering (IPO) is set to close for subscription today, commanded a steady premium on Wednesday, January 15, 2025. Sources tracking unofficial market activities revealed that Barflex Polyfilms shares were trading at Rs 74 apiece, reflecting a grey market premium (GMP) of Rs 14 or 23.33 per cent against the upper end of the IPO price band of Rs 60.

 

The Barflex Polyfilms IPO has received a decent response from investors so far, being subscribed around 14.91 times as of 10:30 AM on Wednesday, January 15, 2025, according to NSE data. The Rs 39.42-crore SME offering is available at a price band of Rs 57-60 per share, with a lot size of 2,000 shares.

 

As the subscription window closes today, the basis of allotment for Barflex Polyfilms IPO shares is likely to be finalised on Thursday, January 16, 2025. Successful allottees will receive the company’s shares in their demat accounts on Friday, January 17, 2025.

 

Barflex Polyfilms shares are expected to list on the NSE SME platform on Monday, January 20, 2025.  Also Check: Sat Kartar Shopping IPO allotment

 

Maashitla Securities is the registrar for the Barflex Polyfilms IPO, while Almondz Financial Services is the sole book-running lead manager for the public issue.

 

According to the Red Herring Prospectus (RHP), the company will not receive any proceeds from the offer for sale. "The promoter selling shareholder will be entitled to the proceeds from the offer for sale, net of its respective portion of the issue-related expenses," said Barflex Polyfilms in its RHP.

 

The net proceeds from the fresh issue will be utilised by Barflex Polyfilms to fund capital expenditure, including the purchase of additional plant and machinery, and for general corporate purposes.

 

Barflex Polyfilms is a manufacturer of COEX films, laminates, and labels, catering to the flexible packaging needs of various industries, including FMCG, processed foods, pharmaceuticals, and cosmetics. The company’s product portfolio includes 3-layer and 5-layer poly films, laminates, vacuum pouches, bulk liners, and PVC shrink labels, as outlined in the RHP.