Thai Casting IPO booked 48 times on Day 3. Check GMP and other details
IPO) of Thai Casting was subscribed 48 times on the third day of the bidding process. The category reserved for retail investors was booked 76 times, followed by NIIs at 40 times and QIB portion at 3 times.
The IPO, which will close on February 20, is priced at Rs 77 at the upper end. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
The IPO is an entirely fresh equity issue of 61.2 lakh shares and through the issue, the company aims to raise Rs 47.5 crore.
In the unlisted market, the company's shares are trading with a GMP of Rs 24 in the unlisted market.
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The company is a distinguished automotive ancillary company, specializing in high pressure die casting, as well as the precision machining of both ferrous and non-ferrous materials and induction heating and quenching.
Its business model is firmly rooted in a B2B approach, catering to leading entities in the automotive components sector. The product portfolio encompasses a diverse range of automobile components, including engine mounting support brackets, transmission mounts, fork shift and housing, Armature – steering wheel, electrical connectors, YFG base frame.
The Indian die casting industry is expected to grow at a CAGR of 15-20% in the next 2 years, driven by factors such as increasing demand from automotive, electronics, and consumer goods sectors. The industry is also expected to benefit
