RFBL Flexi Pack IPO Day 1: 60% Subscribed with No Premium in Grey Market
RFBL Flexi Pack IPO Day 1: Issue subscribed 60% so far; check GMP and other key details
Mint
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The initial public offering (IPO) for RFBL Flexi Pack, a Gujarat-based flexible packaging manufacturer, opened on May 12 and has been 60% subscribed on its first day. The shares are priced between ₹47-50, with an estimated listing price matching the IPO price, indicating no expected gain or loss.
- 01RFBL Flexi Pack's IPO is open until May 14, 2023.
- 02The IPO has been subscribed 60% as of the first day.
- 03The grey market indicates no premium for the shares.
- 04The IPO aims to raise ₹35.32 crore for debt repayment and corporate purposes.
- 05The price band for the shares is set at ₹47-50 per equity share.
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RFBL Flexi Pack's initial public offering (IPO) commenced on May 12, 2023, and will remain open until May 14, 2023. As of 1:40 PM on the first day, the IPO has been 60% subscribed, with individual investors subscribing at 0.62 times and qualified institutional buyers at 1.12 times. The company, based in Gujarat, specializes in producing multilayer flexible packaging products and plans to utilize approximately ₹35 crore from the IPO proceeds for debt repayment and other corporate purposes. The shares are priced between ₹47 and ₹50, with the grey market indicating an estimated listing price of ₹50, reflecting no expected gain or loss. Grow House Wealth Management Pvt. Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. serves as the registrar.
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The IPO's performance may influence investor sentiment in the SME sector, potentially affecting future investments in similar companies.
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