RFBL Flexi Pack IPO Subscription Status – Day 2

RFBL Flexi Pack IPO continued its steady momentum into Day 2 of bidding on Tuesday, May 13, 2026. As of 11:00 AM on Day 2, the IPO was subscribed 1.32 times overall, crossing the full subscription mark and reflecting improving investor sentiment compared to the opening day.

The IPO is a Book Building SME issue worth ₹35.33 crore and is proposed to be listed on the NSE SME platform. The public issue remains open for subscription until Thursday, May 14, 2026.

RFBL Flexi Pack IPO Day 2 Subscription Data

Shares Offered and Total Amount are calculated based on the upper price of the issue price range. Anchor investor portion is not included in the total shares offered.

Investor Participation Overview

The Non-Institutional Investors (NII) category led overall demand on Day 2 with a subscription of 1.51x, driven primarily by big-ticket applications. Retail Individual Investors subscribed 1.24x of their allocated quota, showing a healthy uptick from Day 1's 1.08x. The Qualified Institutional Buyers (QIB) category maintained its Day 1 level at 1.12x, reflecting steady institutional confidence in the issue.

A total of 1,049 applications were received by 11:00 AM on Day 2, with investors bidding for approximately 88.47 lakh shares against 67.11 lakh shares available.

Day-wise Subscription Trend

The overall subscription improved from 1.24x on Day 1 to 1.32x by Day 2, indicating steady momentum building across investor categories.

NII Segment Breakdown

Within the NII category, the split between big and small applications is notable:

• bNII (> ₹10 lakh applications): 2.20x subscribed — strong demand from larger non-institutional investors

• sNII (< ₹10 lakh applications): 0.11x subscribed — participation remains limited in the smaller NII bracket

The dominance of bNII investors in the NII segment continues from Day 1, where bNII stood at 2.35x. This pattern suggests high-net-worth individuals are the primary drivers of NII demand for this issue.

Category-wise Share Allocation

RFBL Flexi Pack IPO consists of a total issue size of 70.65 lakh equity shares. The allocation structure is as follows:

• Retail Investors: 42.18 lakh shares (59.70%)

• NII Category: 21.33 lakh shares (30.19%)

• QIB Category: 3.60 lakh shares (5.10%)

• Market Maker Portion: 3.54 lakh shares (5.01%)
  

Key IPO Dates

Should Investors Watch RFBL Flexi Pack IPO on Day 3?

The subscription trajectory for RFBL Flexi Pack IPO has shown a consistent improvement from Day 1 to Day 2. Crossing 1x overall with one more day of bidding remaining is an encouraging signal for a SME IPO of this size. All three major investor categories — QIB, NII, and Retail — are now above the 1x mark, indicating broad-based participation.

Day 3 (May 14, 2026) will be the final day of subscription, and market participants will closely watch whether the NII and retail segments see a last-day surge, which is common in SME IPOs. A strong close on Day 3 could further improve listing expectations.

Investors should review the company's fundamentals, financial performance, sector outlook, and any grey market premium (GMP) trends before making a final investment decision. As always, SME IPOs carry higher risk and lower liquidity compared to mainboard issues.