Beezaasan Explotech IPO opens; check price, lot size, GMP, listing date

Beezaasan Explotech IPO opens for subscription today. Check price band, lot size, GMP, allotment date, listing date, and other key details here

Beezaasan Explotech IPO: The initial public offering (IPO) of Beezaasan Explotech opens for public subscription today, Friday, Feb 21, 2025. At the upper end, the company seeks to raise Rs 59.93 crore from the public offering, which comprises an entirely fresh issue of 3.42 million equity shares. Beezaasan Explotech has announced that it has already raised Rs 16.94 crore from anchor investors in the bidding concluded on February 20, 2025.

 

Here are the key details of the Beezaasan Explotech IPO from its Red Herring Prospectus (RHP):

 

Beezaasan Explotech IPO price band, lot size  

Beezaasan Explotech IPO is available at a price band of Rs 165-175 per share with a lot size of 800 shares. Accordingly, investors can bid for a minimum of 800 shares and in multiples thereof.  

 

 

A retail investor would require a minimum of Rs 1,40,000 to bid for one lot of 800 shares. The minimum amount required by a High Net-Worth Individual (HNI) is Rs 2,80,000 for a minimum of 2 lots, or 2,400 shares.  

 

Beezaasan Explotech IPO grey market premium (GMP)  

The unlisted shares of Beezaasan Explotech were trading flat in the grey markets ahead of the opening of the public offering, according to sources tracking unofficial markets. Thus, the Beezaasan Explotech IPO’s grey market premium (GMP) remains nil on Friday.

 

Beezaasan Explotech IPO allotment date, listing date  

Beezaasan Explotech IPO will remain open for subscription tentatively until Tuesday, Feb 25, 2025. Following the closure of the subscription window, the basis of allotment of Beezaasan Explotech IPO shares is expected to be finalised on Thursday, Feb 27, 2025.  

 

Shares of Beezaasan Explotech are slated to list on the BSE SME, tentatively on Monday, Mar 3, 2025.  

 

Beezaasan Explotech IPO registrar, lead manager 

Kfin Technologies serves as the registrar for the public offering of Beezaasan Explotech, while Smart Horizon Capital Advisors acts as the sole book-running lead manager.

 

Beezaasan Explotech IPO objective  

Beezaasan Explotech proposes to utilise the proceeds from the public offering for various purposes, including funding capital expenditure for civil construction required for the expansion of its existing manufacturing unit for the Emulsion Explosive-3 Plant, Emulsion Bulk Explosive Plant, and Detonating Fuse Plant at its facility in Bhanthala, Mahisagar, Gujarat. 

 

Additionally, the funds will be used for purchasing plant and machinery to support this expansion, as well as for the civil construction needed for an additional magazine (storage) facility at the Felsani, Gujarat location. The company also plans to use the funds to purchase commercial vehicles and to repay or prepay some of its borrowings. A portion of the funds will also be allocated for general corporate purposes.

 

About Beezaasan Explotech  

Incorporated in 2013, Beezaasan Explotech manufactures and supplies explosives and explosive accessories. Its products cater to the cement, mining, and defense industries. The company's manufacturing facility is located in Gujarat. As of March 31, 2024, Beezaasan Explotech has a PAN India presence with a client base across 11 states and 2 Union Territories.