3B Films IPO Eyes Expansion with Rs 33.75 Crore Offering

3B Films, a leading manufacturer of high-quality plastic packaging films, opened its initial public offering (IPO) on Friday, pricing shares at Rs 50 each and aiming to raise Rs 33.75 crore. The IPO will remain open for subscription until June 3, as confirmed by the company.

Shares will list on the SME platform, with investors required to bid for a minimum of 3,000 shares. The IPO is a combination of a fresh issue of 35.52 lakh shares for Rs 17.76 crore and an offer for sale by promoters, raising Rs 15.99 crore.

The raised capital will be used for capital expenditure, working capital needs, and general corporate purposes. 3B Films' Chairman, Ashokbhai Dhanjibhai Babariya, highlights the company's growth and future plans in CPP and CPE films. The IPO is managed by Nirbhay Capital Services with Maashitla Securities as the registrar.

(With inputs from agencies.)