Systematic Industries shares to debut today. Check GMP ahead of debut

Systematic Industries is set to debut on the BSE SME platform on October 1, but grey market signals suggest a subdued listing. According to market trackers, the stock is commanding a grey market premium (GMP) of just 1%, indicating limited excitement ahead of its market debut. A GMP at this level typically suggests that the stock may list close to its issue price of Rs 195 per share.

The Rs 115.6 crore IPO, which comprised a fresh issue of Rs 107.8 crore and an offer for sale of Rs 7.8 crore, was open for subscription between September 24 and September 26.

The issue was subscribed 6.2 times overall, with strong demand from qualified institutional buyers, who bid nearly 10 times their portion. Non-institutional investors subscribed 7.9 times, while the retail portion was subscribed 3.3 times. The company also raised Rs 32.91 crore from anchor investors a day before the issue opened.


Systematic Industries, incorporated in 2000, manufactures a wide range of steel wires used in power transmission, infrastructure, telecom, and agriculture. With four factories in Daman & Diu and Gujarat, the company has a production capacity of one lakh MTPA and exports to more than 30 countries.

Its financial performance has been steady, with revenue rising 21 per cent to Rs 449.2 crore in FY25, while profit after tax grew nearly 49 per cent to Rs 18.5 crore. At the upper end of the price band, the stock is valued at a post-issue P/E of about 23.6 times.

With the grey market premium at just 1%, early listing gains, if any, may be marginal. The real test for Systematic Industries will likely come after listing, when investors weigh its expansion plans and ability to sustain margins against sector competition.

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