IPO Details
Bidding Dates
09 Jan '25 - 14 Jan '25
Minimum Investment
₹1,20,000/ 1 Lot (2000 Shares)
Price Range
₹57 - ₹60
Maximum Investment
₹1,20,000/ 1 Lot (2000 Shares)
Retail Discount
To be announced
Issue Size
₹39.42 crore
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Barflex Polyfilms IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jan 9, 2025
IPO Closing Date
Jan 14, 2025
Basis of Allotment
Jan 15, 2025
Initiation of Refunds
Jan 16, 2025
IPO Listing Date
Jan 19, 2025
Barflex Polyfilms IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Jan 9, 2025 |
0 | 0.15 | 0.61 | 0.34 |
About Barflex Polyfilms IPO
Barflex Polyfilms is set to launch its IPO, raising ₹39.42 crore. The issue includes a fresh issue of 20.53 lakh shares worth ₹12.32 crore and an offer for sale of 45.17 lakh shares valued at ₹27.10 crore. The IPO opens for subscription today i.e. January 10, 2025, and is closing soon on January 15, 2025, with allotments expected to be finalised by January 16, 2025. The listing on the NSE SME is scheduled for January 20, 2025.
The price band for the Barflex Polyfilms IPO is ₹57 to ₹60 per share. Retail investors can apply for a minimum lot of 2,000 shares, requiring an investment of ₹1,20,000. High-net-worth individuals (HNIs) need to apply for a minimum of two lots, i.e., 4,000 shares, amounting to ₹2,40,000.
The IPO’s book running lead manager is Almondz Financial Services Ltd, with Maashitla Securities Private Limited as the registrar. Almondz Global Securities Limited will act as the market maker. This IPO presents an opportunity for investors to explore Barflex Polyfilms’ potential growth in the market.
Industry Outlook
- The global flexible packaging market is projected to reach USD 270.96 billion in 2023 and grow at a 4.7% CAGR until 2030. This growth is driven by increased demand for packaged food, advancements in packaging technology, and the rising need for sustainable, cost-effective solutions.
- India's packaging industry, valued at $50.5 billion in 2019, is expected to grow at a CAGR of 12.69% by 2025. With a surge in e-commerce, food processing, and government initiatives like 'Make in India,' Barflex Polyfilms stands to benefit significantly by tapping into this rapidly expanding market, particularly in flexible packaging, which comprises 64% of the sector.
Barflex Polyfilms IPO Objectives
The company will use the proceeds of the issue for the following objects:
- ₹2,307.39 lakh will be allocated from the net proceeds of the fresh issue for purchasing additional plant and machinery.
- The company will not receive any proceeds from the Offer For Sale. The Promoter Selling Shareholder will be entitled to the proceeds, after deducting their respective share of the issue-related expenses.
- The remaining funds will be used for general corporate purposes, although the exact amount is not specified.
About Barflex Polyfilms Limited
Barflex Polyfilms Limited, established in January 2005, focuses on manufacturing flexible packaging materials. The company's first manufacturing unit, located in Baddi, Himachal Pradesh, produces barrier COEX films, laminates, and PVC labels with an annual capacity of 2400 MT. In 2008, Barflex expanded its operations with 2 additional units: Unit-II, specialising in PVC shrink sleeves with a capacity of 950 MT per year, and Unit-III, which manufactures PVC stretch and plastic films at 865 MT per annum.
In 2011 and 2012, Unit-II's capacity was enhanced to 3000 MT per year. Barflex manufactures packaging materials used across various sectors, including FMCG, processed foods, pharmaceuticals, and cosmetics. The company's product range includes 3-layer and 5-layer poly films, laminates, vacuum pouches, bulk liners, and PVC shrink labels. Future plans include manufacturing 7-layer films, further solidifying its position as a preferred vendor for packaging solutions.
Financially, Barflex Polyfilms has shown steady growth. For the period ending November 2024, the company reported a revenue of ₹6,567.99 lakh and a net profit of ₹1,349.28 lakh. The EBITDA margin for FY24 stands at 10.74%. Promoter Jaiwant Bery, with over 37 years of experience in the flexible packaging industry, has been instrumental in the company’s success and growth.
How To Check the Allotment Status of the Barflex Polyfilms IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for a Barflex Polyfilms IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Barflex Polyfilms IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Barflex Polyfilms Limited
Registered office: A-33, Third Floor, FIEE Complex, Okhla Industrial Area, Phase-II, Near C Lal Chowk, New Delhi-110020
Phone: +91- 9810021106
E-mail: info@barflex.co.in
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 |
Barflex Polyfilms IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
2000 |
₹1,20,000 |
|
Retail (Max) |
1 |
2000 |
₹1,20,000 |
|
HNI (Min) |
2 |
4000 |
₹2,40,000 |
Barflex Polyfilms IPO Promoter Holding
The company's promoters are Mr. Jaiwant Bery and Mrs. Nomita Bery
|
Share Holding Pre Issue |
92.66% |
|
Share Holding Post Issue |
— |
Barflex Polyfilms IPO Anchor Investors Details
Barflex Polyfilms IPO secures ₹11.21 crore through anchor investors, with the anchor bidding date set for January 9, 2025.
|
Bid Date |
January 9, 2025 |
|
Shares Offered |
18,68,000 |
|
Anchor Portion Size (In ₹ crore) |
11.21 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
February 15, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
April 16, 2025 |
Key Performance Indicators for Barflex Polyfilms IPO
As of March 31, 2024, the KPIs of Barflex Polyfilms
|
KPI |
Values |
|
ROE |
25.44% |
|
ROCE |
27.21% |
|
RoNW |
25.44% |
|
PAT Margin |
14.73 |
|
Price to Book Value |
2.13 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
P/E (x) |
8.39 |
7.34 |
|
EPS (₹) |
7.15 |
8.18 |
Note: The Pre-IPO EPS is derived from the pre-issue shareholding as of the date mentioned in the RHP, along with the most recent fiscal year earnings for the period ending March 31, 2024, as disclosed in the RHP. The Post-IPO EPS is calculated based on the post-issue shareholding and the annualized fiscal year earnings as of November 30, 2024, as provided in the RHP.
Barflex Polyfilms IPO Prospectus
Barflex Polyfilms IPO Registrar and Lead Managers
Barflex Polyfilms IPO Lead Managers
Almondz Financial Services Limited
Registrar for Barflex Polyfilms IPO
Maashitla Securities Private Limited
- Contact Number:+91-11-45121795-96
- Email Address: compliance@maashitla.com
Website: Barflex Polyfilms IPO Registrar
Financial Performance of Barflex Polyfilms Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 11,023.36 | 10,917.07 | 9,349.72 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,623.55 | 1,013.07 | 794.09 |
| Return on Equity (“RoE”) (%) | 25.44 | 21.29 | 21.20 |
| Net Worth (in ₹ lakh) | 6,382.87 | 4,759.32 | 3,746.26 |
| Total Borrowings (in ₹ lakh) | 13.59 | 16.50 | 25.87 |
| Return on Capital Employed (RoCE) (%) | 27.21 | 23.67 | 24.41 |
| EBITDA (in ₹ lakh) | 1,793.25 | 1,206.75 | 1,000.61 |
Know before investing
Strengths
8-
Offers a wide range of flexible packaging products for diverse industries.
-
Established relationships with clients, ensuring repeat business and loyalty.
-
Strong presence across 15+ states in India, driving market growth.
-
Over 19 years of industry experience, backed by a seasoned promoter.
-
ISO 22000:2018 and ISO 9001:2015 certifications ensure high-quality standards.
-
Expanding product portfolio with 7-layer COEX films and WPP bags.
-
Plans to tap into e-commerce packaging to widen market reach.
-
Cost optimisation strategies enhance competitiveness and improve operational efficiency.
Risks
8-
Past financial difficulties led to ₹ 4019 lakh debt being classified as NPA, impacting creditworthiness.
-
Disputes with past investors over unmet performance expectations led to financial and reputational risks.
-
Promoters were linked to delisted companies, raising potential regulatory concerns despite clarifications.
-
Expansion plans are delayed due to lack of possession of identified premises.
-
Delays in ordering 42.71% of machinery risk project time and cost overruns.
-
Growth pace may be unsustainable due to reliance on exceptional EBITDA earnings.
-
Exceptional income from stock market investments is non-recurring and unsustainable.
-
Outstanding litigations involving the company could adversely affect financial performance.
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Barflex Polyfilms Limited Peer Comparison
| Company Name | EPS (Basic) | NAV per Share(₹) | RoNW (%) |
|---|---|---|---|
| Barflex Polyfilms Limited | 7.24 | 28.21 | 25.66 |
| Uma Converter Limited | 2.07 | 33.25 | 6.21 |
| Purv Flexipack Limited | 3.99 | 60.88 | 4.69 |
Barflex Polyfilms IPO FAQs
Barflex Polyfilms IPO is a book-built issue IPO. It will be open from January 10, 2025, to January 15, 2025.
The Basis of Allotment will happen on Thursday, January 16, 2025.
The IPO subscription window will open on January 10, 2025.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2000 shares.
The listing date for Barflex Polyfilms IPO is Monday, January 20, 2025.
The issue size of the Barflex Polyfilms IPO is up to ₹39.42 crore, with a fresh issue of ₹12.32 crore and an offer for sale of ₹27.10 crore.
The open and close dates for Barflex Polyfilms IPO are from January 10, 2025, to January 15, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Barflex Polyfilms’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Barflex Polyfilms IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Maashitla Securities Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
The Barflex Polyfilms IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).
