Barflex Polyfilms IPO allotment expected today: Step-by-step guide to check status, latest GMP | Stock Market News
Source: Live Mint
Barflex Polyfilms IPO Allotment: The allotment for Barflex Polyfilms IPO is expected to be finalised today, January 16. Investors can check their allotment status through the registrar, Maashitla Securities Private, or on the NSE website.
The IPO, which was open for subscription from January 10 to January 15, saw a healthy response from investors, being oversubscribed 151 times.
Specifically, the non-institutional investor (NII) segment was oversubscribed 373 times, while the retail portion was oversubscribed 98 times. The QIB portion was booked 78.22 times, as per the exchange data. The IPO price was set between ₹57 and ₹60 per share.
Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on January 17, 2025.
Shares allotted will be credited to investors’ demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of January 20, 2025.
The company intends to utilise the net proceeds for funding capital expenditure towards the purchase of additional plant and machinery, as well as for general corporate purposes.
Step-by-step guide to check Barflex Polyfilms IPO allocation status:
On registrar’s website:
1. Visit the Maashitla Securities Private Limited website – https://maashitla.com/allotment-status/public-issues
2. Select “Barflex Polyfilms” from the drop-down list on the “Check Application Status” page.
3. Enter your PAN number, demat Account Number, or Application Number.
4. Click on the “SUBMIT” button.
5. The allotment status will appear on your screen.
On NSE’s website:
1. Open the IPO allotment page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
2. Log in with your credentials.
3. Select Barflex Polyfilms, enter your PAN details and application number, and click “Submit.”
Barflex Polyfilms IPO GMP signals decent listing
Today’s grey market premium (GMP) for the Barflex Polyfilms IPO is ₹14 per share, suggesting that the shares are likely to list ₹14 above their issue price. With this GMP and an issue price of ₹60 per share, the estimated listing price is around ₹74, reflecting a 23.33 per cent premium over the issue price.
About Barflex Polyfilms
The company is engaged in the manufacturing of COEX films, laminates, and labels. It manufactures flexible packaging material suitable for packaging products in the FMCG industry, processed foods, adhesives, engineering, the pharmaceutical industry, cosmetics, the construction industry, and others.
Its major customers are known brands in their respective sectors as well as in the domestic market. At present, the company manufactures 3-layer poly films, 5-layer poly films, laminates, vacuum pouches, 5-layer bulk liners, and PVC shrink labels.
The company is planning to start manufacturing 7-layer films as well, post-expansion. This will help it to become a preferred vendor in packaging material for its customers.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
