Beezaasan Explotech: Beezaasan Explotech shares get listed flat at a 16.57% discount!Beezaasan Explotech: Beezaasan Explotech shares get listed flat at a 16.57% discount!

Beezaasan Explotech shares debuted at a 16.57% discount to their IPO price on Monday, listing at ₹146 on the BSE SME platform against the issue price of ₹175. The explosives manufacturer’s IPO was subscribed over 5x in the primary market between February 21 and February 25.

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Beezaasan Explotech’s IPO was open for subscription from February 21 to February 25, with shares priced at ₹175 and a face value of ₹10. Investors could bid for at least 800 shares. The IPO saw a 5.43 times subscription on the final bidding day.

Beezaasan Explotech Limited manufactures and supplies a diverse range of explosives and accessories, specializing in cartridge explosives like slurry, emulsion, and detonating types. Catering to the cement, mining, and defense sectors, the company focuses on producing high-quality explosive solutions for industrial and defense applications.

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The objective of Beezaasan Explotech’s IPO is to raise funds for business expansion, enhance production capabilities, meet working capital requirements, and invest in modern equipment. The proceeds will also support general corporate purposes and strengthen the company’s market presence in the explosives industry.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.