The IPO comprises a fresh issue of 45 lakh shares aggregating to Rs 63 crore and an offer for sale (OFS) of 10 lakh shares worth Rs 14 crore. The lot size has been fixed at 1,000 shares, requiring retail investors to apply for a minimum of 2,000 shares or Rs 2.8 lakh.
Allocation has been divided equally between retail investors and HNIs, with each category offering 26.1 lakh shares.
Bhavik Enterprises is engaged in the trading of polymers, mainly Polyethylene (PE) and Polypropylene (PP).
These materials find widespread use across industries such as packaging, infrastructure, textiles, agriculture, automotive, and consumer products.
The company operates through a stock-and-sale model, importing and storing polymers for sale to manufacturers of plastic products.Its product portfolio includes High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), and Metallocene Linear Low-Density Polyethylene (MLLDPE), along with a wide range of polypropylene grades. Warehouses and depots strategically located across India support its supply chain and long-term client relationships.Financially, Bhavik Enterprises reported revenues of Rs 390.5 crore in the nine months ending December 2024, compared with Rs 500.3 crore in FY24 and Rs 491.1 crore in FY23. Profit after tax stood at Rs 4.1 crore in 9MFY25, lower than Rs 7.9 crore in FY24 and Rs 15.6 crore in FY23.
The proceeds from the fresh issue, amounting to Rs 47.5 crore, will be used to meet working capital requirements, while the remainder will be deployed for general corporate purposes.
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