Barflex Polyfilms IPO Day 2: Check Subscription Status, GMP And More

The initial public offering of Barflex Polyfilms Ltd. opened for subscription on Jan. 10. The SME IPO was fully subscribed on the first day of bidding. On the second day of bidding on Monday, the Barflex Polyfilms IPO has been subscribed over three times so far. The company aims to raise nearly Rs 40 crore from the primary market.

Those interested in the Barflex Polyfilms IPO must check out these key details before making an investment call. 

The IPO combines a fresh issue of 20.53 lakh shares aggregating to Rs 12.32 crore and an offer for sale of 45.17 lakh shares worth Rs 27.10 crore.

The company has allocated 50% of its share offerings to qualified institutional investors (QIBs), 35% to retail investors and the remaining 15% to non-institutional investors.

The subscription window will remain open till Jan. 15. Barflex Polyfilms is expected to finalise the share allotment of the IPO on Jan. 16.

Successful bidders will get the credit of shares on Jan 17, and non-allottees will get their refunds on the same day. The shares, offered at a price band of Rs 57 and Rs 60 apiece, will list on the NSE SME platform Emerge on Jan. 20.

Retail investors have to apply for at least 2,000 shares in one lot of the Barflex Polyfilms IPO. This takes the minimum investment amount to Rs 1,20,000 for a single lot application.

The company has appointed Integrated Maashitla Securities Pvt. as the registrar for the issue, while Almondz Management Services Ltd. will act as the book-running lead manager.  Almondz Global Securities Ltd. is the market maker for this SME public offer. 

The IPO was subscribed 4.31 times on Monday, as per market tracking site Chittorgarh.

• QIB: nil

• NII: 3.6 times

• Retail: 7.07 times

Barflex Polyfilms IPO GMP (grey market premium) was Rs 10 apiece as of 6:55 p.m. on Jan. 13, according to InvestorGain. This suggests a potential listing gain of 16.67% with the shares expected to list Rs 70 apiece.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.