GSM Foils IPO opens today: Check issue size, price band, GMP & other details
GSM Foils IPO opens today to raise Rs 11 crore, listing on NSE SME platform. Shreni Shares manages the public offer for manufacturing Blister Foils and Aluminium Pharma Foils, with positive analyst projections.
By Akash Podishetti, ETMarkets.com |
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The SME IPO of GSM Foils opened for subscription earlier today and will close on May 28. The company aims to raise about Rs 11 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) About GSM Foils
GSM Foils is engaged in the business of manufacturing Blister Foils and Aluminium Pharma Foils (also known as Strip Foils) which is used in packaging of pharmaceutical medicines which includes capsules and tablets both.
2) Industry overview
India's pharmaceutical industry leads globally, renowned for affordable generic drugs and vaccines. With a 9.43% CAGR over nine years, it ranks third in production volume.
3) GSM Foils IPO size
The IPO is entirely a fresh equity issue of 34.4 lakh shares and through the issue, the company aims to raise nearly Rs 11 crore.
4) GSM Foils IPO price band
The company is offering its shares at Rs 32 apiece, and investors can bid for 4000 shares in 1 lot.
5) GSM Foils IPO financial performance
For the period ended December 2023, the company clocked revenues of Rs 27.17 crore and net profit of Rs 1.24 crore.
Also Read: Go Digit sees moderate listing, but analysts project optimism. What investors should do
6) Objects of the offer
7) Lead managers and Registrar
Shreni Shares is acting as the lead manager to the issue and Bigshare Services is the registrar.
8) Issue structure
About 50% of the offer is reserved for retail investors, and the rest 50% for other investors.
9) Important dates
The IPO opened on May 24 and will close on May 28. The final allotment will likely be made on May 29. The company's shares will likely get listed on May 31.
10) GSM Foils GMP
Ahead of the issue opening, the company's shares had no GMP of Rs 0 in the unlisted market.
1) About GSM Foils
GSM Foils is engaged in the business of manufacturing Blister Foils and Aluminium Pharma Foils (also known as Strip Foils) which is used in packaging of pharmaceutical medicines which includes capsules and tablets both.
2) Industry overview
India's pharmaceutical industry leads globally, renowned for affordable generic drugs and vaccines. With a 9.43% CAGR over nine years, it ranks third in production volume.
3) GSM Foils IPO size
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The IPO is entirely a fresh equity issue of 34.4 lakh shares and through the issue, the company aims to raise nearly Rs 11 crore.
4) GSM Foils IPO price band
The company is offering its shares at Rs 32 apiece, and investors can bid for 4000 shares in 1 lot.
5) GSM Foils IPO financial performance
For the period ended December 2023, the company clocked revenues of Rs 27.17 crore and net profit of Rs 1.24 crore.
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Also Read: Go Digit sees moderate listing, but analysts project optimism. What investors should do
6) Objects of the offer
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The net proceeds from the public offer will be used for the purchase of plant and machinery for existing manufacturing facilities, funding working capital requirements and other general corporate purposes.7) Lead managers and Registrar
Shreni Shares is acting as the lead manager to the issue and Bigshare Services is the registrar.
8) Issue structure
About 50% of the offer is reserved for retail investors, and the rest 50% for other investors.
9) Important dates
The IPO opened on May 24 and will close on May 28. The final allotment will likely be made on May 29. The company's shares will likely get listed on May 31.
10) GSM Foils GMP
Ahead of the issue opening, the company's shares had no GMP of Rs 0 in the unlisted market.
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