Check Barflex Polyfilms IPO GMP As Bidding On Day 3 Resumes

The four-day initial public offering of Barflex Polyfilms Ltd. that opened for subscription on Jan. 10 will close for bidding on Jan. 15. The SME IPO was booked 4.31 times on Monday and was fully subscribed on the first day of bidding.

The latest GMP for Barflex Polyfilms SME IPO was Rs 14 as of 1:30 p.m. on Dec. 14

Here's all you need to know about Barflex Polyfilms IPO as bidding for day 3 resumes.

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.

Barflex Polyfilms IPO price band is set at Rs 57 to Rs 60 apeice. 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.

As per the company's red herring prospectus, of the 65,68,000 shares offered:

• 12,48,000 (19%) is reserved for Qualified Institutions

• 9,35,000 (14.24%) for Non-Institutional Buyers

• 21,82,000 (33.22%) for Retail Investors

• 18,68,000 (28.44%) for Anchor investors

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.

Mr. Jaiwant Bery and Mrs. Nomita Bery are the promoters of the company.

The IPO has subscribed 8.42 times as of 2:35 p.m. on Tuesday, as per market tracking site Chittorgarh.

• Qualified Institutional Buyers: NIL

• Non-Institutional Buyers: 9.49 times

• Retail Investors: 12.77 times

The subscription status will be updated at regular intervals.

Barflex Polyfilms IPO GMP today is Rs 14 as of 1:30 p.m. on Jan. 14. This indicates Barflex Polyfilms share price was trading at a premium of Rs 14 in the grey market, according to IPO tracking site Investorgain.com.

Considering the IPO price band's upper end and the grey market's current premium, the estimated listing price of Barflex Polyfilms share price is indicated at Rs 74 per share, which is 23.33% higher than the IPO price of Rs 60.

The GMP was NIL before the bidding for the issue began on Day 2.

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

The allotment for the Barflex Polyfilms IPO is expected to be finalised on Thursday, Jan. 16. Shares of Barflex Polyfilms will list on NSE SME, Emerge on Monday, Jan.20.

Successful bidders will get the credit of shares on Jan. 17, and non-allottees will get their refunds on the same day.

Barflex Polyfilms will use the funds from the fresh issue of its IPO to meet capex to buy additional plants and machines. The proceeds will also be used for general corporate purposes.

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.