RFBL Flexi Pack IPO Day 1: Issue subscribed 60% so far; check GMP and other key details

RFBL Flexi Pack's initial public offering (IPO) has opened for subscription today, 12 May. The SME IPO will remain open till Thursday, 14 May. The shares of RFBL Flexi Pack IPO are proposed to be listed on NSE SME on 19 May.

RFBL Flexi Pack is a manufacturing firm involved in producing and trading printed multilayer flexible packaging products, including plastic film rolls, pouches, woven fabric packaging materials, and polyester laminated films.

The company follows a Business-to-Business (B2B) model, serving clients seeking premium and customised packaging solutions. It focuses on manufacturing multilayer plastic films through advanced production technologies. Its primary raw materials comprise Cast Polypropylene (CPP) films, Cast Polyethylene (CPE) films, BOPP films, metallised films, laminated films, specialised adhesives, and inks procured from well-established suppliers.

RFBL Flexi Pack IPO subscription status

According to data available on Chittorgarh, the SME IPO has been subscribed over 0.60 times on the first day of bidding, as of 1:40 pm.

The individual investors category has received 0.62 times subscription. Meanwhile, the NII and QIB segments have been subscribed over 0.46 times and 1.12 times, respectively.

The SME IPO has received 40,02,000 bids as compared to the 67,11,000 shares on offer.

RFBL Flexi Pack IPO GMP today

The shares of RFBL Flexi Pack IPO are trading at nil premium in the grey market, as per the websites tracking the unlisted market. The estimated listing price of RFBL Flexi Pack IPO is likely to be ₹50, which is the same as the IPO price, reflecting no loss or gain.

RFBL Flexi Pack IPO details

Flexible packaging materials maker RFBL Flexi Pack has set a price band of ₹47-50 per equity share for its share sale. The lot size for an application is 3,000 shares.

The ₹35.32-crore IPO of the Gujarat-based company consists entirely of a fresh issue of up to 70.65 lakh equity shares with a face value of ₹10 each, the company said in a statement.

According to the offer document, RFBL Flexi Pack plans to utilise ₹35 crore from the IPO proceeds towards repayment or prepayment, either fully or partially, of certain borrowings undertaken by the company. The remaining amount will be allocated for general corporate purposes and issue-related expenses.

Grow House Wealth Management Pvt. Ltd. is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd has been appointed as the registrar to the issue.