3B Films Limited IPO Sees 97% Subscription by Day 2; Check Latest GMP on June 2nd; Subscribe or Skip?

The 3B Films Limited IPO is garnering a lot of investor attention in the SME segment as it moves closer to its final bidding day on June 3rd. Based in Vadodara, Gujarat, the company manufactures Cast Polypropylene (CPP) and Cast Polyethylene (CPE) films used in packaging and thermoforming applications.

3B Films Limited IPO Details

The IPO is worth Rs. 33.75 crore and is a fresh issue of 35.52 lac shares. The price of this issue is Rs. 50 per share and is expected to list on NSE & BSE on June 6th.

Subscription Status of 3B Films IPO

The subscription for the 3BFilms IPO opened on May 30, and as of the latest update on June 2, the IPO has been subscribed to 0.97 times overall. The Retail Investors segment is oversubscribed 1.26x, while Non-Institutional Investors have subscribed at 0.68x.
On Day 1 of the bidding for the 3B Films IPO, the total subscription was at 86%, with NII at 77% and RII at 95%. The final day of bidding will likely determine whether the IPO crosses full subscription across all categories.

3B Films IPO Latest GMP Today

As per the data taken from the Investor Gain website, the latest Grey Market Premium (GMP) for the 3B Films IPO is Rs. 3. Consequently, the IPO estimated listing price will be at Rs. 53, as the upper price band is Rs. 50, which will provide a 6% listing gain.

Should You Subscribe to 3B Films Limited IPO?

Founded in 2014, 3B Films Limited has carved out a niche in the flexible packaging industry, supplying critical film components to various sectors. Its CPP and CPE film products are used in the packaging of food items, pharmaceuticals, and industrial goods. From an investment perspective, 3B Films IPO offers a moderately priced entry into a niche packaging space with steady demand. The strong retail response, positive GMP, and the company's established presence in the sector could make it attractive for listing gains. Analyst recommendations are still awaited for this IPO; however, if the GMP trend holds, early investors could benefit from decent listing gains.