RFBL Flexi Pack share price made a moderate debut in the Indian stock market on Tuesday, 19 May. RFBL Flexi Pack share price was listed at a 5% premium over the initial public offer (IPO) price of ₹50 per share.
RFBL Flexi Pack share price opened at ₹52.50 apiece on NSE SME. This means that the IPO allottees made a 5% gain on RFBL Flexi Pack IPO's listing. The NSE SME stock extended gains to ₹55 apiece, immediately after listing.
The listing of RFBL Flexi Pack IPO exceeded the market expectations. Ahead of the debut, the GMP of RFBL Flexi Pack IPO was ₹1.5 in the grey market, as per websites tracking the unlisted market.
RFBL Flexi Pack IPO details
The offer garnered a healthy response from investors, while the company’s shares also gained some momentum in the grey market after witnessing muted interest during the initial days of the subscription period.
By the final day of bidding on 14 May, the SME IPO had been subscribed 21.48 times overall. The qualified institutional buyers (QIB) category saw the highest demand, with subscriptions reaching 124.39 times. The retail segment was subscribed 11.36 times, while the non-institutional investor (NII) portion received 24.12 times bids.
The ₹35.33-crore RFBL Flexi Pack IPO comprised entirely a fresh issue of 0.71 crore equity shares. The price band for the issue was fixed at ₹47-50 per share, with investors required to bid in lots of 3,000 shares.
The allotment of RFBL Flexi Pack IPO was finalised on May 15.
The company intends to utilise the proceeds from the issue towards capital expenditure, working capital requirements, and general corporate purposes.
Grow House Wealth Management Pvt. Ltd. acted as the book-running lead manager for the issue, while Kfin Technologies Ltd. served as the registrar. MNM Stock Broking Pvt. Ltd. was the market maker for the IPO.
RFBL Flexi Pack is engaged in the manufacturing and trading of printed multilayer flexible packaging materials, including plastic film rolls and pouches, catering mainly to packaging requirements across multiple industries. The company provides a broad portfolio of customised packaging solutions tailored to the changing demands of sectors such as food, pharmaceuticals, and home care.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
