Beezaasan Explotech IPO subscribed overall 5.43 times on the last day, a retail quota of over 2.26 times, NII of over 4.65 times, and QIB of 11.52, respectively.
Details About Beezaasan Explotech IPO
Beezaasan Explotech got approval from SEBI for an IPO of around ₹59.93 crores. Beezaasan Explotech IPO is fully a fresh issue of ₹59.93 crores with a face value of Rs 10 each. Further, Beezaasan Explotech had a set price band between ₹165 to ₹175 Per Share.
In Beezaasan Explotech IPO, 800 shares were in 1 lot size for retail minimum and maximum category as well. Moreover, 1,600 shares were in 2 lot sizes for the S-HNI category.
To invest in Beezaasan Explotech IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum and maximum investment of ₹1,40,000.
- SHNI (S-HNI): Minimum investment of ₹2,80,000.
Beezaasan Explotech IPO Subscription Duration
The Beezaasan Explotech IPO opening date was February 21, 2025, and the closing date was February 25, 2025. The allotment of Beezaasan Explotech IPO was on February 27, 2025, while the investors will receive a refund on February 28, 2025. The listing date of Beezaasan Explotech IPO is scheduled for March 3, 2025.
Beezaasan Explotech IPO Funds Deployment
- The proceeds will be utilized towards the Expansion of the existing manufacturing unit for the Emulsion Explosive-3 Plant, Emulsion Bulk Explosive Plant and Detonating Fuse Plant situated at Bhanthala, Mahisagar, Gujarat.
- The raised funds through IPO will be used towards the purchase of Plant and machinery for the Expansion of the existing manufacturing unit.
- Funds will be utilized for the building of more storage space at the existing location situated at Felsani, Gujarat.
- The proceeds will be used to buy the Commercial Vehicle.
- Some of the proceeds will be used for the Repayment/prepayment of all or certain of the borrowings availed of by the Company.
- While the remaining funds will be utilized for the company’s general corporate purposes.
About Beezaasan Explotech Company
One of the established companies, Beezaasan Explotech, Incorporated in August 2013, and is engaged in manufacturing and supplying a variety of Explosives and Explosive accessories. In their explosive category, they manufacture a wide range of products including cartridge explosives, slurry, emulsion, and detonating explosives. The company manufactures their products using a mixture of nitrate, mostly serving various industries like the cement industry, the mining industry, and the defence industry. They have interpreted the technology Quality Assurance Systems in their manufacturing units with the aim of providing high-quality products. At first, the company started its business with manufacturing of slurry explosives in 2018 at Bhanthala Village, Mahisagar District, Gujarat. Later in the year of 2020 and 2024, they decided to expand their business by adding another explosives unit at the same location. Beezaasan Explotech serves across India, delivering to 11 states and 2 union territories as of March 31, 2024. Whereas, as of September 30, 2024, the company has a staff of 188 people.
Financial Resort of the Beezaasan Explotech Company
In 2024, Beezaasan Explotech generated a revenue of ₹187.9 crores compared to ₹229.17 crore in 2023. Whereas in 2024, the company generated a profit of ₹4.87 crores compared to a profit of ₹2.94 crores in 2023.
