3B Films IPO - Day 3 Subscription at 1.80 Times

3B Films' initial public offering (IPO) has shown modest investor demand through its three-day subscription period. The ₹33.75 crore IPO has witnessed gradual progress, with subscription rates opening at 0.86 times on day one, rising to 1.34 times on day two, and reaching 1.80 times by 4:59:33 PM on the final day, demonstrating moderate investor interest in this Vadodara, Gujarat-based manufacturer and supplier of Cast Polypropylene (CPP) and Cast Polyethylene (CPE) films for packaging and thermoforming applications that serves various industries including food packaging and has expanded exports to countries like Dubai, Nepal, Sri Lanka, and several African nations with advanced facilities and R&D leading in specialty films.

3B Films IPO retail investors segment leads with 2.75 times subscription, while non-institutional investors show undersubscription at 0.85 times, reflecting mixed investor confidence in this company that produces transparent, metalised, white opaque, retort, anti-fog, easy-peel, and EVOH films as part of the 3B Group, operates with production capacity of 750 MT monthly (9,000 MT annually) through advanced manufacturing facility and emphasises continuous research and development to innovate specialty products.

3B Films IPO subscription reaching modest 1.80 times on the final day, led by Retail (2.75x) but hindered by NII undersubscription (0.85x). Total applications reached 4,655.

Subscription Status of 3B Films IPO:

Here are the subscription details for 3B Films IPO as of Day 3 (June 3, 2025, 4:59:33 PM):

Key Highlights - Day 3:

• Overall subscription reaching modest 1.80 times, showing gradual improvement from day two's 1.34 times
• Retail segment showing solid demand at 2.75 times, significant increase from day two's 1.93 times
• NII segment remaining undersubscribed at 0.85 times, slight improvement from day two's 0.76 times
• Total applications reached 4,655, indicating modest investor participation
• The cumulative bid amount reached ₹57.71 crores
• Final day demonstrating mixed confidence in the specialty films manufacturing sector
• Retail oversubscription offset by NII undersubscription, reflecting divergent investor sentiment
• Moderate participation reflects cautious assessment of the packaging films business model in current market conditions

3B Films IPO - Day 2 Subscription at 1.34 Times

Key Highlights - Day 2:

• Overall subscription rising to 1.34 times, showing improvement from day one's 0.86 times
• Retail segment showing increased interest at 1.93 times, significant improvement from day one's 0.95 times
• NII segment remaining undersubscribed at 0.76 times, slight decline from day one's 0.77 times
• Second day momentum indicates growing retail investor confidence despite institutional hesitation
• Specialty films manufacturing expertise attracting selective investor attention
• Steady retail participation contrasting with subdued institutional interest

3B Films IPO - Day 1 Subscription at 0.86 Times

Key Highlights - Day 1:

• Overall subscription opening below full subscription at 0.86 times, showing cautious initial investor interest
• Retail investors showing modest participation at 0.95 times, indicating reserved individual investor confidence
• NII segment showing undersubscription at 0.77 times on day one
• Opening day demonstrates mixed investor engagement across categories
• Initial momentum reflecting cautious assessment of the packaging films manufacturing opportunity
• Advanced manufacturing capabilities and export presence drawing limited initial attention
• First day foundation suggesting need for stronger investor education and confidence building

About 3B Films IPO

Incorporated in 2014, 3B Films Limited is a Vadodara, Gujarat-based company engaged in the manufacturing and supplying of Cast Polypropylene (CPP) and Cast Polyethylene (CPE) films for packaging and thermoforming applications. The company's products include transparent, metalized, white opaque, retort, anti-fog, easy-peel, and EVOH films, with advanced facilities and R&D leading in specialty films offering innovative packaging solutions worldwide.

As part of the 3B Group, the company emphasises continuous research and development to innovate specialty products, serving various industries including food packaging and expanding exports to countries like Dubai, Nepal, Sri Lanka, and several African nations. Following early success, the company installed new imported machinery, doubling production capacity to 750 MT monthly (9,000 MT annually), and adding an MDO unit to expand its product range further. The promoters include Ashokbhai Dhanjibhai Babariya, Mukesh Dhanjibhai Babariya, Gulabben Nitin Babariya, and Dishank Nitin Babariya.

Financial performance shows steady operations with revenue of ₹76.40 crores in FY2024 and profit after tax of ₹4.29 crores. For the nine months ended December 2024, the company reported revenue of ₹57.18 crores with PAT of ₹4.20 crores. The company maintains good profitability metrics with 14.91% ROE, 8.64% ROCE, and 13.88% RONW, while operating with a debt-to-equity ratio of 3.45.

Highlights of the 3B Films IPO:

• IPO type: Fixed Price IPO
• IPO size: ₹33.75 crores
• Fresh Issue: 35.52 lakh shares (₹17.76 crores)
• Offer for Sale: 31.98 lakh shares (₹15.99 crores)
• Face value: ₹10 per share
• Issue price: ₹50 per share
• Lot size: 3,000 shares
• Minimum investment for retail investors: ₹1,50,000 (1 lot, 3,000 shares)
• Minimum investment for HNI: ₹3,00,000 (2 lots, 6,000 shares)
• Market maker reservation: 3,42,000 shares
• Book-running lead manager: Nirbhay Capital Services Private Limited
• Registrar: Maashitla Securities Private Limited
• Listing at: BSE SME
• IPO opens: May 30, 2025
• IPO closes: June 3, 2025
• Allotment date: June 4, 2025
• Listing date: June 6, 2025