The initial public offer (IPO) of Essen Speciality Films was subscribed 47.29 times. The issue opened for bidding on 23 June 2023 and it closed on 27 June 2023. The price band of the IPO was set at Rs 101-107 per share.

The IPO comprised fresh issue of 46,99,200 shares and an offer for sale (OFS) of 15,00,000 shares by existing shareholders.

The net issue comprised of 58,88,400 equity shares. The issue and the net issue constituted 29.95% and 28.45%, respectively of the post issue paid-up equity share capital of the company.

Ahead of the IPO, Essen Speciality Films on 22 June 2023, raised Rs 18.88 crore from anchor investors. The board allotted 17,65,200 shares to anchor investor at Rs 107 per equity share.

The company intends to utilize the net proceeds for prepayment or repayment of all or a portion of certain outstanding borrowings availed by company, funding the working capital requirements and general corporate purposes.

Essen Specilaity Films are manufacturer and exporter of specialized plastic products in the home improvement and home furnishing industry, to renowned multinational modern trade retailers, such as IKEA, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsven, Kohl's, Kroger, the company's product portfolio can broadly be classified into seven categories, namely, bath area, kitchen & dinning, home décor, storage and organization, fitness and lifestyle, outdoor and utility and customized products, which include plastic films, spa slippers, baby shower caps, green-house gutter sheet etc. As of 31 March 2023, the company has total 671 employees.

The company recorded a revenue from operations of Rs 118.61 crore and net profit of Rs 13.37 crore for the period ended as on 31 March 2023.