Barflex Polyfilms Limited (NSE SME)

Jan 10, 2025 - Jan 15, 2025

Premium	₹13
Price	₹57 - ₹60
Lot size	2000
Allotment	Jan 16, 2025
Listing	Jan 20, 2025

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	2000	120000	1091
HNI	2	4000	240000	468

Last updated on 15-Jan-2025 17:03:02

Category	Offered	Applied	Times
QIB	1248000	97620000	78.22
NIB	936000	349204000	373.08
RETAIL	2182000	214886000	98.48
Total	4366000	661710000	151.56

Application Wise Breakup
Category	App. Received
QIB	44
NIB	8929
RETAIL	107443
Total	116416

Subscription Demand (in ₹ crore)
Category	Offered	Demand	Times
QIB	7.49	585.72	78.22
NIB	5.62	2095.22	373.08
RETAIL	13.09	1289.32	98.48
Total	26.2	3970.26	151.56

QIB Interest Cost Per Share (7 Days)
@7% ₹6.3	@8% ₹7.2	@9% ₹8.1	@10% ₹9	@11% ₹9.9	@12% ₹10.8

HNI Interest Cost Per Share (7 Days)
@7% ₹30.1	@8% ₹34.3	@9% ₹38.6	@10% ₹42.9	@11% ₹47.2	@12% ₹51.5

About

Barflex Polyfilms IPO Details

Issue Size	65,69,875 shares (aggregating up to ₹39.42 Cr)
Fresh Issue	20,53,000 shares (aggregating up to ₹ 12.32 Cr)
Offer for Sale	45,16,875 shares of ₹10 (aggregating up to ₹27.10 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share Holding Pre Issue	2,26,97,000 shares
Share Holding Post Issue	2,47,50,000 shares
Market Maker Portion	3,35,000 shares
Market Maker	Almondz Global Securities Limited

Barflex Polyfilms IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not Less than 15% of the Net Issue

Key Performance Indicator

KPI	Nov-24	Mar-24	Mar-23
ROE	17.45%	25.44%	21.29%
ROCE	8.66%	27.21%	23.67%
RONW	17.45%	25.44%	21.29%
EPS (basic)	5.94	7.15	4.46
P/E Pre IPO		8.39
P/E Post IPO	7.34%

Company Financials In Lakhs

Period Ended	Nov-24	Mar-24	Mar-23	Mar-22
Assets	8,824	7,241	5,665	4,529
Revenue	7,802	11,612	11,041	9,410
Profit After Tax	1,349	1,624	1,013	794
Net Worth	7,732	6,383	4,759	3,746
Reserves and Surplus	5,462	4,113	2,490	1,477
Total Borrowing	12	14	17	26

About Company

Incorporated in January 2005, Barflex Polyfilms Limited specializes in manufacturing COEX films, laminates, and labels, offering flexible packaging solutions for industries such as FMCG, processed foods, adhesives, engineering, pharmaceuticals, cosmetics, and construction. The company caters primarily to renowned domestic brands, producing 3-layer and 5-layer poly films, laminates, vacuum pouches, bulk liners, and PVC shrink labels. With plans to expand into 7-layer film production, the company aims to strengthen its position as a preferred packaging vendor. Operating three manufacturing units in Baddi, Himachal Pradesh, Barflex Polyfilms employed 182 individuals as of May 31, 2024, including 102 full-time employees and 80 contract workers.

Lead Manager(s)

Almondz Financial Services Ltd

Strength

Diverse Product Portfolio: Offers a wide range of packaging solutions catering to industries like FMCG, pharmaceuticals, cosmetics, and construction.

Strong Client Relationships: Established connections across diverse industry verticals ensure business stability and growth.

Widespread Market Presence: Significant reach within the domestic market, serving renowned brands across sectors.

Weakness

Past Financial Distress: Previous OTS agreements with lenders highlight financial challenges, and future inability to meet obligations could adversely impact operations.

Investor Disputes: Historical performance shortfalls led to disputes, with potential risks of penalties, financial losses, and reputational damage if performance parameters are not met in the future.

Promoter Associations: The promoters' prior involvement with companies delisted by the BSE Dissemination Board raises potential concerns about governance and credibility.

Registrar

Maashitla Securities Private Limited

Phone: +91-11-45121795-96

Email: compliance@maashitla.com

Website: https://maashitla.com/allotment-status/public-issues