GSM Foils IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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GSM Foils Limited IPO GMP

GSM Foils Ltd. (GFL) specializes in manufacturing Blister Foils and Aluminium Pharma Foils, which are essential for packing pharmaceutical medicines like capsules and tablets.

GSM Foils IPO is a fixed price issue at Rs 11.01 crores, consisting entirely of a fresh issue of 34.4 lakh shares. The subscription period for the IPO opens on May 24, 2024, and closes on May 28, 2024. The allotment is expected to be finalized on Wednesday, May 29, 2024, and the shares will be listed on the NSE SME with a tentative listing date set for Friday, May 31, 2024.

Priced at ₹32 per share, the minimum lot size for an application is 4000 shares, requiring a minimum investment of ₹128,000 for retail investors. For HNIs, the minimum investment is set at 2 lots, or 8,000 shares, amounting to ₹256,000.

Shreni Shares Limited is the book running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar. Shreni Shares is also the market maker for the GSM Foils IPO.

Refer to RHP for the details of the company.

Objective

This Issue comprises of Fresh Issue of 34,40,000 Equity Shares aggregating to ₹ 11.008 Cr.

Company proposes to utilize the Net Proceeds:

Funding of capital expenditure towards purchase of Plant and Machineries.
Funding Working Capital Requirements
General corporate purposes.

The company intend to increase production capacity by way of installation of new plant and machineries at existing Manufacturing Facility located at Maharashtra, India. This will allow them to be technologically advanced and meet functional efficiencies and will help in reduction of cost of production of existing facility.

Grey Market Premium(GMP) of GSM Foils Limited
The Grey Market Premium is expected in the range of Rs. 0 to Rs. 3 based on the growth and performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.