IPO Tracker: Two SME IPOs In Focus

After picking up momentum last week, the initial public offering market is witnessing another lull in the market amid the impending likelihood of the US implementing a global tariff policy, and a volatile domestic stock market that ended the week in the red.

This week will see a muted turnout on IPOs, with no mainboard IPOs and two small and medium enterprise IPOs in focus.

The IPO for 3B Films Ltd. is currently active, while the Ganga Bath Fittings Ltd IPO will open this week.

• IPO opens: June 4

• IPO closes: June 6

• Issue size: 66.6 lakh shares

• Fresh issue: Rs 32.65 crore.

• Tentative allotment date: June 9

• Tentative listing date: June 11

• Face value: Rs 10 per share.

• Lot size: 3,000 shares.

• Issue type: Bookbuilding IPO.

• Listing platform: NSE SME.

Established in 2018, Ganga Bath Fittings Ltd. produces and distributes a wide range of bathroom accessories, such as chrome-plated taps, showers, sanitary ware, ABS fittings, door handles, vanities, and sinks.

Their technologically advanced manufacturing facilities enable them to meet stringent quality standards.

They also manufacture custom components according to client specifications, ensuring quality and on-time delivery, and provide personalised services to their established customer base throughout India.

• IPO opens: May 30

• IPO closes:  June 3

• Issue size: 67.5 lakh shares

• Fresh issue: Rs 17.76 crore.

• Tentative allotment date: June 4

• Tentative listing date: June 6

• Face value: Rs 10 per share

• Lot size: 3,000 shares

• Issue type: Fixed Price IPO

• Listing platform: BSE SME.

Established in 2014 in Vadodara, Gujarat, 3B Films manufactures and supplies cast polypropylene and cast polyethylene films for packaging and thermoforming. Their product range includes transparent, metallised, white opaque, retort, anti-fog, easy-peel, and EVOH films. They use updated facilities and research and development to provide packaging solutions globally.

As part of the 3B Group, they prioritise continuous research and development for speciality product innovation. Serving diverse industries like food packaging, they have expanded exports to Dubai, Nepal, Sri Lanka, and several African countries.

Following initial success, they doubled production capacity to 750 MT monthly (9,000 MT annually) with imported machinery and further broadened their product range by adding a Machine Direction Orientation unit.

Their key products include:

1. Cast Polypropylene Films: Produced by blending PP polymers, these films offer high clarity, strong seals, durability, and moisture resistance, suitable for speciality packaging like candy wraps and food sealing.

2. Cast Polyethylene Films: Their Plain CPE Film is a co-extruded polyethylene film known for clarity, toughness, and cold resistance, ideal for pouching, food packaging, overwrapping, rice bags, and electronic device protection.

3B Films lists its competitive strengths as their advanced manufacturing facility, experienced management and workforce, self-reliant manufacturing, broad and customisable product range, multi-market presence, and quality assurance and control.