The scrip was listed at 146, a discount of 16.57% over the initial public offer (IPO) price. The stock was currently up 2.95% over its listing price.

The counter hit a high of Rs 153.30 and a low of Rs 146. About 4.27 lakh shares of the company changed hands at the counter.

Beezaasan Explotech's IPO was subscribed 5.11 times. The issue opened for bidding on 21 February 2025 and it closed on 25 February 2025. The price band of the IPO was set at Rs 165 to Rs 175 per share.

The IPO comprised fresh issue of 24,56,800 equity shares. The promoter and promoter group shareholding diluted to 70.57% from 96.02% pre-issue.

The company intends to utilize the net proceeds for funding capital expenditure towards civil construction for the expansion of the existing manufacturing unit at the Bhanthala facility in Mahisagar, Gujarat, for the Emulsion Explosive-3 Plant, Emulsion Bulk Explosive Plant, and Detonating Fuse Plant. The funds will also be used for the purchase of plant and machinery for these expansions, as well as for civil construction to expand the magazine (storage) facility for Emulsion Cartridge Explosives and Detonating Fuse at the Felsani facility in Gujarat. Additionally, the proceeds will be used for the purchase of commercial vehicles, repayment or prepayment of borrowings, and general corporate purposes.

Ahead of the Beezaasan Explotech on 20 February 2025, raised Rs 16.94 crore from anchor investors. The board has allotted 9.68 lakh shares at Rs 175 per share to 10 anchor investors.

Beezaasan Explotech is engaged in the manufacturing and supply of a wide range of explosives and explosive accessories, primarily focusing on cartridge explosives, including slurry explosives, emulsion explosives, and detonating fuses. The company’s products are manufactured using a mixture of nitrate to meet diverse requirements. With the expertise of its promoters in various field applications, the firm has developed products that fulfill the stringent demands of different industries. As of 31 December 2024, the company had 185 employees.

The company recorded revenue from operations of Rs 100.69 crore and net profit of Rs 8.33 crore for the period as of 30 September 2024.