GSM Foils IPO fully booked within hours of opening, retail investors steal the show; know GMP, subscription status, more
₹32 per equity share with a face value of ₹10 each. The lot size for the GSM Foils IPO is 4,000 shares.
The company's prospectus states that it is in the business of producing Blister Foils and Aluminium Pharma Foils, also referred to as "Strip Foils," which are used in the packaging of pharmaceutical medications, including both tablets and capsules. Since this is the main material used for packaging that has direct touch with the medication, great care is taken to ensure its quality.
The organisation has gained significant expertise in several foil kinds utilised by pharmaceutical industries in the last few years.Also Read: Awfis Space IPO Day 3: From financials to key risks, here are 10 key things to know from RHP before investingMohansingh L. Parmar and Sagar Girish Bhanushali are the company's promoters.As per the prospectus, the company's listed peers are MMP Industries Ltd and Synthiko Industries Ltd.
Between March 31, 2022, and March 31, 2023, GSM Foils Limited's profit after tax (PAT) increased by 124.62% while its sales declined by -8.3%.GSM Foils IPO subscription status is 7.77 times, on day 1, so far. The retail portion was subscribed 13.89 times, and NII portion was booked 1.65 times.
The company has received bids for 2,53,52,000 shares against 32,64,000 shares on offer, at 12:21 IST, according to data on chittorgarh.com.Also Read: HOAC Foods Listing: Stock makes stellar market debut, lists at 206% premium at ₹147GSM Foils IPO, which is worth about ₹11.01 crore, consists of a fresh issue of 3,440,000 equity shares with a face value of ₹10. There is no offer-for-sale component.The business intends to use the net proceeds from the issue to finance the following goals: general corporate objectives, working
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