Beezaasan Explotech IPO closes today; subscription rises 94%, GMP flat

Beezaasan Explotech IPO Day 3 update: Check latest subscription status, GMP, allotment date, listing date, and other key details here

Beezaasan Explotech IPO Day 3: Beezaasan Explotech's initial public offering (IPO) is set to conclude for public subscription today, Tuesday, February 25, 2025. The BSE SME offering, which opened for subscription on Friday, February 21, has received a subdued response from investors so far, with around 91 per cent of the issue subscribed by 10:40 AM on Tuesday, February 25.

  Beezaasan Explotech IPO details

Beezaasan Explotech IPO, which comprises an entirely fresh issue of 3.42 million equity shares, is available at a price band of Rs 165-175, with a lot size of 800 shares. Investors can bid for a minimum of 800 shares and in multiples thereof, requiring a minimum investment amount of Rs 1,40,000. 

Beezaasan Explotech IPO grey market premium

Meanwhile, the unlisted shares of Beezaasan Explotech were trading flat at around Rs 175 per share, which is also the upper end of the IPO price, according to sources tracking unofficial market trends. Thus, the Beezaasan Explotech IPO grey market premium (GMP) remains nil on Tuesday.  Check: HP Telecom India IPO Allotment Status 

  Beezaasan Explotech IPO allotment date, listing date

Once the subscription window concludes, the basis of allotment for Beezaasan Explotech IPO shares is likely to be finalised on Thursday, February 27, 2025. The successful allottees will receive the company's shares in their demat accounts by Friday, February 28, 2025.

 

Beezaasan Explotech shares are slated to list on the BSE SME, tentatively on Monday, March 3, 2025.

  Beezaasan Explotech IPO registrar, lead manager

Kfin Technologies serves as the registrar, while Smart Horizon Capital Advisors acts as the sole book-running lead manager for the offering of Beezaasan Explotech.  Check: Swasth Foodtech IPO Allotment Status  Beezaasan Explotech IPO objective

Beezaasan Explotech proposes to utilize the proceeds from the public offering for funding capital expenditure toward civil construction required for the expansion of the existing manufacturing unit for the Emulsion Explosive-3 Plant, Emulsion Bulk Explosive Plant, and Detonating Fuse Plant at the existing manufacturing facility situated at Bhanthala, Mahisagar, Gujarat. The proceeds will also be used for the purchase of plant and machinery for the expansion of the existing manufacturing unit at the same location.

 

Additionally, the company will use the proceeds for funding capital expenditure towards civil construction for the expansion of an additional magazine (storage) facility for emulsion cartridge explosives and detonating fuses at the existing location situated at Felsani, Gujarat; the purchase of a commercial vehicle; repayment/prepayment of all or certain borrowings availed by the company; and general corporate purposes.  Read: Tata Capital IPO Details  

  About Beezaasan Explotech

Incorporated in 2013, Beezaasan Explotech manufactures and supplies explosives and explosive accessories. Its products are used in the cement, mining, and defense industries. The company has a pan-India presence with clients in 11 states and 2 Union territories.