Swashthik Plascon Limited IPO opens for subscription on Friday, November 24, and closes on Wednesday, November 29. The price band of Swashthik Plascon IPO is set in the range of ₹80 to ₹86. Investors can bid for a minimum of 1,600 shares and in multiples of them.
The company Swasthik Plascon focuses on the production of PET preforms and bottles. They manufacture PET bottles for a range of uses, including household cleaning products, repellents, FMCG packaging, pharmaceuticals and alcohol. They also make PET preforms for juice, soft drink, and packaged drinking water bottles.
The promoters of the company are Parasmal Mahendra Kumar, Parasmal Ravindra Kumar, Parasmal Dharmendra Kumar, Misrilal Parasmal, P Umrao, Mahendrakumar Nirmala, R Asha Jain, and D Anita.
According to the RHP, Swashthik Plascon Limited IPO listed partner is Technopack Polymers Limited (P/E of 15.91).
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Swashthik Plascon IPO details
Swashthik Plascon Limited IPO which is worth ₹40.76 crores, is a completely fresh issue of 4,739,200 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).
The company intends to use the net proceeds of the offering to finance the following purposes: financing of capital expenditures for the establishment of new manufacturing facilities and the installation of equipment; financing of the company’s capital expenditure requirements for the establishment of a solar power plant; financing the acquisition of equipment for the company’s current production facility; financing the company’s working capital requirements; and financing of general corporate purposes.
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Bigshare Services Pvt Ltd is the registrar for the Swashthik Plascon IPO, and Shreni Shares Private Limited is the book-running lead manager. Nikunj Stock Brokers is the marketer for the Swashthik Plascon IPO.
Swashthik Plascon Limited IPO GMP today
Swashthik Plascon IPO GMP today or gray market premium is +7. This indicated that the share price of Swashthik Plascon is today trading at a premium of ₹7 in the gray market on Tuesday, according to investorgain.com.
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Considering the upper end of the IPO price band and the current premium in the gray market, the estimated list price of Swashthik Plascon’s share price has been indicated at ₹93 per which is 8.14% higher than the IPO price of ₹86.
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
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Updated: 21 Nov 2023, 16:38 IST