3B Films shares to list today. Check GMP ahead of listing
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Vadodara-based plastic packaging film manufacturer 3B Films will list its shares on the BSE SME platform on Friday. Ahead of the listing, the company's shares had muted GMP of Rs 0 in the unlisted market. This indicates a likely flat listing, but the sentiments could change depending on the secondary market.The IPO, which was completely a fresh equity sale of 67.5 lakh shares, received a modest subscription of 1.8 times. The issue was priced at Rs 50 apieceThe net proceeds from the IPO will be used for capital expenditure, working capital requirements, and general corporate purposes. The company plans to invest in forward integration by installing new printing and lamination lines to provide end-to-end flexible packaging solutions.3B Films is engaged in the manufacturing and supply of CPP and CPE films tailored to meet the diverse needs of the flexible packaging industry and high-end thermoforming applications. It plays a pivotal role in delivering innovative packaging solutions to its clients of a wide array of industries.The company's product portfolio includes a wide range of CPP films designed to address the specific needs of various industries, including food and beverage, clothing, flowers and other consumer goods.From high-clarity films for premium packaging to high-barrier films for extended shelf life, it offers solutions that cater to the evolving demands of the market as we presently are equipped with such a manufacturing facility capable of producing CPP and CPE films spanning a thickness range from 15 to 250 microns.Further, considering the future prospect of Adhesive Laminated Films in line with the present business of the company, in the financial year 2023-24, it also started trading of said films and recorded turnover of Rs 22.59 crore in the first fiscal itself.To exploit the potential business opportunities prevailing in the market, the company is planning to install machines in its manufacturing unit itself to manufacture adhesive laminated films in the years to comeThe company's management on the occasion of the IPO said, "As we take the next step in our journey with this public offering, our focus remains on strengthening 3B Films' position in the flexible packaging industry. With the planned installation of printing and lamination lines, we aim to offer comprehensive packaging solutions under one roof. This investment supports our strategy to move closer to end-use applications while maintaining quality, efficiency, and customization.": Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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