The current GMP ahead of the listing is at Rs 13. Compared with the issue price of Rs 60, this will be a premium of 21% over the issue price.
Funds raised from the IPO will be used for capital expenditure, acquisition of additional plant and machinery, and for general corporate purposes.
Barflex Polyfilms is into the business of manufacturing flexible packaging material. After the expansion, the company established two manufacturing units and also enhanced the installed capacity.
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The company mainly makes COEX films, laminates and labels for packaging products in various industries.
Its major customers are known brands in their respective sector as well as in the domestic market. At present, it 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.
Its strategy, going forward, is to build upon the competitive strengths and business opportunities to become one of the leading packaging companies domestically and internationally.
The company also intends to diversify its product portfolio which could cater to customers across segments, sectors, and geographies.
“In accordance with this, while we seek to continue to strengthen our existing product portfolio, we intend to further diversify into products with prospects for increased growth and profitability. We plan to continue to increase offerings in our current business segments as well as diversify into new products by tapping into segments which in the view of our management have growth prospects,” the company said.
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