3B Films IPO opens for subscription at Rs 50 per share

The initial public offering of 3B Films, a manufacturer of high-quality plastic packaging films, opened for subscription on Friday at Rs 50 apiece.

3B Films is looking to raise Rs 33.75 crore though the initial share sale which will remain open until June 3, the company said in a statement.

The shares of the company will be listed on the SME platform of the BSE and the investors can bid for a minimum of 3,000 shares and in multiples thereof, it added.

The IPO (initial public offering is a combination of fresh issue of 35.52 lakh shares aggregating to Rs 17.76 crore and an offer for sale (OFS) of up to 31.98 lakh shares aggregating to Rs 15.99 crore by its promoters, Ashokbhai Dhanjibhai Babariya, Mukesh Dhanjibhai Babariya and Gulabben Nitin Babariya.

Proceeds from the IPO will be utilised for capital expenditure as well as to fund its working capital requirements and for general corporate purposes.

"Over the years, we have built a strong foundation through our core expertise in CPP and CPE films. With the planned installation of printing and lamination lines, we aim to provide comprehensive packaging solutions under one roof.

"This investment will help us move up the value chain, offering products that are closer to end-use requirements while ensuring quality, efficiency, and customisation," 3B Films' Chairman & MD Ashokbhai Dhanjibhai Babariya said.

Founded in 2014, 3B Films specialises in producing and supplying Cast Polypropylene (CPP) and Cast Polyethylene (CPE) films intended for packaging and thermoforming. The Gujarat-based company serves key industries such as food & beverages, garments, floriculture, and consumer goods.

Nirbhay Capital Services is the book-running lead manager while Maashitla Securities is the registrar for the issue. PTI