The initial public offering (IPO) of 3B Films Ltd. saw a strong demand on the second day of bidding on Monday, June 2. The BSE SME IPO was fully subscribed, driven by the retail demand.
The manufacturer of Cast Polypropylene (CPP) and Cast Polyethylene (CPE) films launched its public offer to raise Rs 33.75 crore from the primary market on May 30.
3B Films IPO Subscription Status Day 2
On the second day of bidding on Monday, the 3B Films IPO was booked 1.34 times. The IPO received bids for over 86.1 lakh shares against 64.08 lakh shares.
The Non-Institutional Investors (NIIs) subscribed their quota 0.76 times and the retail bidders booked their quota 1.93 times.
3B Films IPO Price Band And Other Key Details
3B Films IPO is a fixed price issue amounting to Rs 33.75 crore. The IPO is a combination of a fresh issue of 35.52 lakh shares, worth Rs 17.76 crore and an offer-for-sale (OFS) portion of 31.98 lakh shares, amounting to Rs 15.99 crore.
The IPO price has been fixed at Rs 50 per share. The retail investors can apply for at least a single lot size of 3,000 shares, aggregating to a minimum investment of Rs 1.5 lakh. Of the 67,50,001 shares on offer - 32,04,000 (47.47%) are allocated to NII and 32,04,000 (47.47%) are allocated to retail investors.
The issue registrar is Maashitla Securities Pvt., while Nirbhay Capital Services Pvt. is the book-running lead manager of the 3B Films IPO.
The 3B Films IPO allotment is expected to be finalised on June 4. The company is scheduled to process refunds and transfer shares to the Demat accounts on June 5.
The IPO listing date has been tentatively fixed as June 6. Shares of the 3B Films Ltd. will be listed on the BSE SME platform.
3B Films IPO GMP Today
As per Investorgain, the latest grey market premium for 3B Films was Rs 0 on June 2. The shares are expected to be listed on the BSE SME platform at Rs 50 apiece, the same as the issue price.
Note: GMP does not represent official data and is based on speculation.
3B Films Business
3B Films Ltd.'s manufacturing unit is located near Vadodara, Gujarat. It is a manufacturer and supplier of cast polypropylene and cast polyethylene films, which are used in packaging.
Use Of Proceeds
The proceeds from the public issue will be utilised by 3B Films for general corporate purposes, working capital requirements and funding capital expenditure.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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