Beezaasan Explotech IPO Live
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Schedule of Beezaasan Explotech
| Issue open date | 21 Feb 2025 |
| Issue close date | 25 Feb 2025 |
| UPI mandate deadline | 25 Feb 2025 (5 PM) |
| Allotment finalization | 27 Feb 2025 |
| Refund initiation | 28 Feb 2025 |
| Share credit | 28 Feb 2025 |
| Listing date | 03 Mar 2025 |
| Mandate end date | 12 Mar 2025 |
| Lock-in end date for anchor investors (50%) | 29 Mar 2025 |
| Lock-in end date for anchor investors (remaining) | 28 May 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Beezaasan Explotech
Incorporated in 2013, Beezaasan Explotech manufactures and supplies slurry, emulsion, and detonating explosives primarily for the cement, mining, and defence industries. The company operates from Gujarat and holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. The company is licensed by the Petroleum and Explosives Safety Organisation (PESO) and has a PAN India presence across 11 states and 2 Union territories, serving a broad client base.
Financials of Beezaasan Explotech
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹59.93 crores |
| Fresh Issue | ₹59.93 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure for Emulsion Explosives-3 | 3.87 (6.47%) |
| Plant & machinery for Emulsion Explosives-3 | 23.04 (38.67%) |
| Civil construction for Emulsion Cartridge Explosives storage | 2.03 (3.39%) |
| Purchase of commercial vehicle | 0.14 (0.24%) |
| Repayment of borrowings | 18.00 (30.02%) |
| General corporate purposes | 11.85 (20.21%) |
Strengths
- The company provides tailored explosive products to meet customer-specific applications with performance guarantees.
- Long-standing relationships with key customers (54.54% of revenue) and suppliers (80.07% of purchases) contribute to its stability.
- The management team brings significant industry experience, supporting consistent growth.
- Continuous focus on innovation and product development based on customer feedback drives improvements.
- The company adheres to strict quality control standards, supported by ISO certifications (9001:2015, 14001:2015, 45001:2018).
Risks
- Regulatory approvals and registrations for explosive products are complex and capital-intensive.
- The use of hazardous raw materials poses significant accident risks.
- Failure to meet strict quality standards could lead to order cancellations.
- Tender-based business poses risks like cost pressure and low margins.
- Reliance on raw materials from Gujarat and Maharashtra exposes the company to regional risks.
- Part of the Net Proceeds will be used for machinery purchase, with no guarantee of timely orders.
Allotment Status for Beezaasan Explotech
To check your allotment status – click here.
Subscription Figures for Beezaasan Explotech
Subscription numbers as of 5:00 PM on 21 Feb 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 6.53 | 4.00 | 0.61x |
| HNI (₹2L+) | 4.88 | 2.15 | 0.44x |
| Retail (upto ₹2L) | 11.38 | 3.74 | 0.33x |
| Total | 22.80 | 9.89 | 0.43x |