RFBL Flexi Pack Lists at 5% Premium Over Initial Public Offering Price

RFBL Flexi Pack Makes Moderate Debut in Indian Stock Market

RFBL Flexi Pack, a company engaged in the manufacturing and trading of printed multilayer flexible packaging materials, made a moderate debut in the Indian stock market on Tuesday, 19 May. The company's share price listed at a 5% premium over the IPO price of ₹50 per share, opening at ₹52.50 apiece on the National Stock Exchange's (NSE) Stock Exchange Board of India (SME) platform. This represents a 5% gain for the IPO allottees over the listing price.

The listing of RFBL Flexi Pack's IPO exceeded market expectations, with the company's shares gaining momentum in the grey market after witnessing muted interest during the initial days of the subscription period. The IPO garnered a healthy response from investors, with the SME IPO being subscribed 21.48 times overall by the final day of bidding on 14 May.

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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, with the price band fixed at ₹47-50 per share and investors required to bid in lots of 3,000 shares.

The allotment of RFBL Flexi Pack's IPO was finalised on May 15, with the company intending 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.