Beezaasan Explotech IPO: Check GMP, Subscription Status, Price Band, Offer Size And More

Beezaasan Explotech Ltd. launched its initial public offer to raise Rs. 59.93 crore from the primary market on Feb. 21. The company is engaged in the business of manufacturing explosives and related accessories. Those looking to bid in this BSE SME offer must check out these key details before making an investment call.

Beezaasan Explotech IPO is a book-built issue of 34.25 lakh shares worth Rs. 59.93 crore. The price band for the offer has been set in the range of Rs 165 to Rs 175 apiece.

The company has reserved 50% of the net offer size for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors (NIIs). 

Retail investors can bid in the IPO with a minimum lot size of 800 shares, resulting in an investment of Rs 1,40,000 at the upper price band. 

The subscription window for Beezaasan Explotech IPO will remain open from Feb. 21 to Feb. 25. Allotment of shares in the public offer is proposed to be finalised on Feb. 27. Credit of shares into the demat account of successful bidders will be done on Feb. 28. Refunds for the non-allottees will also be initiated on the same day. 

Shares of Beezaasan Explotech Ltd. are proposed to be listed on the BSE SME platform on March 3.

Smart Horizon Capital Advisors Pvt. is the book-running lead manager and Kfin Technologie Ltd. is the registrar for Beezaasan Explotech IPO. The company has appointed Rikhav Securities Ltd. as the market maker for this SME issue.

• The Beezaasan Explotech IPO has been subscribed 0.02 times as of 10:34 a.m. on Friday.

• Qualified Institutions: nil

• Non-Institutional Investors: 0.01

• Retail Investors: 0.05 times

*The subscription status will be updated at regular intervals

The grey market premium for the Beezaasan Explotech IPO stood at Rs. 0 as of 9:33 a.m. on Feb. 21, according to InvestorGain. The current GMP trends indicate a potential flat listing for the offer.

Note: GMP does not represent official data and is based on speculation.

Beezaasan Explotech Ltd. manufactures a wide variety of explosives and accessories. Its major product includes cartridge explosives, including slurry, emulsion and detonating explosives.

Beezaasan Explotech Ltd. has proposed to use the net proceeds from the IPO to expand its manufacturing unit in Gujarat. The money will also be used to repay or prepay all or certain borrowings and for general corporate purposes.

Beezaasan Explotech Ltd. posted a revenue of Rs 187.9 crore in FY24, marking a decline of more than 18% year-on-year,  from Rs 229.17 crore in the previous fiscal. Despite the drop in revenue, net profit jumped to Rs 4.87 crore in FY24 from Rs 2.94 crore in FY23.

In the first half of FY25, the company's revenues stood at Rs 101.44 crore with a net profit of Rs 8.33 crore.

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.