Premium Plast Ltd., established in May 1995 in Mumbai, has undergone significant transformation since its inception, evolving from the production of just two components to manufacturing over 600 diverse components at two strategic locations. This company specializes in creating high-quality plastic components and parts that cater to various industries, including Automotive, Industrial, Electrical, and Specialized Packaging.

With the upcoming Premium Plast IPO, the company is set to raise ₹26.19 Crores entirely through a Fresh Issue of 53.46 Lakh Shares. The subscription period opens on October 21, 2024, and closes on October 23, 2024. Investors can expect the allotment to be finalized on or about October 24, 2024, with shares slated for listing on the NSE SME around October 28, 2024.

The share price band for the Premium Plast IPO is set at ₹46 to ₹49 per equity share, with a minimum lot size of 3,000 shares. Retail investors will need to invest a minimum of ₹1,47,000, while High-Net-Worth Individuals (HNIs) are required to purchase a minimum of 2 lots, equating to ₹2,94,000. The book-running lead manager for this IPO is KHANDWALA SECURITIES LIMITED, while BIGSHARE SERVICES PRIVATE LIMITED will serve as the registrar. Additionally, Asnani Stock Broker Private Limited is designated as the Market Maker for this IPO.

Premium Plast Limited IPO GMP Today

As of now, the Grey Market Premium (GMP) for Premium Plast Limited is projected to be ₹0, reflecting the company's current financial performance. It's crucial to note that the GMP can fluctuate based on the demand and supply dynamics in the unregulated market, which is not an ideal measure for price discovery before the shares are listed on the exchange. The mention of GMP here is purely for educational purposes, helping investors make informed decisions.

Premium Plast Limited IPO Live Subscription Status Today

As of 11:15 AM on October 21, 2024, the live subscription status for the Premium Plast IPO indicates that it has been subscribed 0.66 times on its first day. Investors can check the Premium Plast IPO Live Subscription Status on the NSE for real-time updates.

Premium Plast Limited IPO Allotment Date - Step-by-Step Guide to Check Allotment Status Online

The allotment date for the Premium Plast IPO is scheduled for October 24, 2024 (Thursday). Once the allotment is finalized, investors can check their status on the Registrar's Website. Here’s a simple guide on how to check your allotment status:

Visit the IPO allotment status page.

Select Premium Plast Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

This step-by-step process ensures that investors can quickly and easily determine their allotment status, facilitating their investment strategies.

Objectives of Premium Plast Limited IPO

The proceeds from the Fresh Issue will be allocated towards the following objectives:

₹1,655.44 Lakhs for the expansion of the existing manufacturing facility in Pithampur, Madhya Pradesh, and the purchase of new machinery.

₹104.4 Lakhs for funding capital expenditure requirements for the establishment of a rooftop on-grid solar power plant at the existing manufacturing facility.

₹223.12 Lakhs for the prepayment or repayment of outstanding borrowings availed by the company.

Funds will also be allocated for general corporate purposes and offer-related expenses.

Premium Plast IPO Review

Delving deeper into the financial performance of Premium Plast, the revenues from operations for the three months ending on June 30, 2024, and for the fiscal years 2024, 2023, and 2022 stand at ₹1,212.81 lakhs, ₹4,670.59 lakhs, ₹4,404.83 lakhs, and ₹3,104.78 lakhs, respectively. Furthermore, the EBITDA figures for the same periods are ₹194.51 lakhs, ₹645.33 lakhs, ₹220.77 lakhs, and ₹97.23 lakhs. The Profit After Tax for the same timeframe is ₹141.16 lakhs, ₹477.55 lakhs, ₹159.32 lakhs, and ₹77.70 lakhs.

The Premium Plast IPO presents an issuing of shares at a pre-issue EPS of ₹10.03 and a post-issue EPS of ₹2.50. The pre-issue P/E ratio stands at 4.88x, while the post-issue P/E ratio is at 19.6x, compared to the industry P/E ratio of 40.45x. The company's Return on Capital Employed (ROCE) for FY24 is 28.01%, and the Return on Equity (RoE) for FY24 is 28.90%. These financial metrics suggest that the IPO is fairly priced relative to industry standards.

However, the Grey Market Premium (GMP) indicates potential listing gains of 0%. Given the company's performance and IPO valuation, it may be advisable for investors to avoid the Premium Plast Limited IPO for immediate listing gains or as a long-term investment.

In conclusion, investors should carefully consider the Premium Plast IPO as it approaches its subscription period. The company's commitment to expanding its manufacturing capabilities and enhancing its financial position could provide a solid foundation for future growth. For those looking to invest wisely, exploring more about the best IPOs to apply now can be beneficial. Stay updated with the latest IPO news and developments in the stock market through various resources.

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