Sat Kartar Shopping, Barflex Polyfilms IPOs fully subscribed on Day 1 despite bearish market sentiment

Sat Kartar Shopping, Barflex Polyfilms IPOs

The initial public offerings of Sat Kartar Shopping, and Barflex Polyfilms were fully subscribed on the first day of bidding, i.e. January 10, despite bearish sentiment in the equity market. The market remained under pressure throughout the week, losing 2.4 percent taking the total loss to 11 percent from record high seen in September 2024.

Sat Kartar Shopping IPO

The ayurveda healthcare company's maiden public issue recorded 4.5 times subscription on Friday, with investors buying 1.34 crore equity shares against the offer size of 29.93 lakh shares via 7,710 applications, the bid details published on the NSE showed.

Retail investors bid 8.5 times their allotted quota, and the non-institutional investors picked 2.91 times their reserved portion, while qualified institutional buyers applied for 12,800 equity shares compared to 7.9 lakh shares set aside for them.

Sat Kartar that offers holistic, natural remedies and lifestyle products targets to raise Rs 33.8 crore via initial share sale which comprises of entirely fresh issue of 41.72 lakh shares. The price band for the offer, which closes on January 14, has been fixed at Rs 77-81 per share.

The fresh issue proceeds will be utilised for unidentified acquisition (in India or abroad), marketing and advertisement, capital expenditure, investment in technology, and general corporate purposes.

Barflex Polyfilms IPO

The IPO of New Delhi-based Barflex Polyfilms, which manufactures COEX films, laminates, and labels, was booked 1.19 times. Investors picked 56.08 lakh shares against the offer size of 47 lakh shares via 2,597 applications.

The flexible packaging materials producer intends to mobilise Rs 39.42 crore through maiden public issue at the upper end of price band of Rs 57-60 per share.

The IPO is a combination of fresh issuance of 20.53 lakh shares worth Rs 12.32 crore, and an offer-for-sale of 45.16 lakh shares worth Rs 27.10 crore.

The fresh issue money will be utilised for the purchase of additional plant and machinery, and the remaining funds for general corporate purpose.

Almondz Financial Services is acting as the merchant banker for the issue.