Overview
On March 3, 2025, shares of Beezaasan Explotech debuted on the BSE SME platform, listing at ₹146 per share, which is approximately a 16.57% discount to its issue price of ₹175 per share.
IPO Performance
Beezaasan Explotech's initial public offering (IPO) was open for subscription from February 21 to February 25, 2025. The public issue was met with notable investor interest, receiving a total subscription of 5.11 times.
Key IPO Details:
- Company: Beezaasan Explotech
- Industry: Explosives and explosive accessories manufacturing
- IPO Price Band: ₹165-₹175 per share
- Listing Price: ₹146 per share
- Issue Size: ₹59.93 crore
- Total Shares Offered: 34.24 lakh equity shares
- Applications Received: 3,509
- Total Shares Bid For: 1.25 crore equity shares
Use of IPO Proceeds
The funds raised through the IPO are planned for various business expansion and operational improvements, including:
- Purchase of plant and machinery
- Civil construction work to expand existing manufacturing facilities
- Upgradation of production units, such as:
- Emulsion Explosive-3 Plant
- Emulsion Bulk Explosive Plant
- Detonating Fuse Plant
- Expansion of storage facilities at the Felsani site in Gujarat
- Purchase of a commercial vehicle
- Repayment of existing debt
Business Operations
Beezaasan Explotech is engaged in the production of cartridge explosives, with a product range that includes:
- Slurry Explosives
- Emulsion Explosives
- Detonating Explosives
The company supplies products primarily to cement, mining, and defence industries.
Summary
Despite receiving strong interest during its IPO phase, Beezaasan Explotech began trading at a discount to its issue price. The company plans to utilize the capital raised to enhance its production capabilities, upgrade its facilities, and support business growth in key sectors.
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