2 weeks Ago By NDTV Profit News
The initial public offering (IPO) of Spinaroo Commercial Ltd. is scheduled to open for subscription on Friday, Mar. 28.
The company, a manufacturer of various products, including aluminium foil containers, aluminium home foil, paper cups, paper plates and paper bowls, aims to raise over Rs 10 crore in the primary market. Investors considering this SME IPO must check out these key details before making an investment decision.Spinaroo Commercial Ltd.
IPO Key DetailsSpinaroo Commercial Ltd. IPO is a fixed price issue consisting solely of 19.94 lakh shares offered at Rs 51 apiece.
The total offer size is valued at Rs 101.7 crore.The company has reserved 50% of the net issue size for retail investors, whereas the remaining half is kept aside for other categories of investors.
Retail investors can bid in the IPO with a minimum lot size of 2,000 shares, requiring an investment of Rs 1,02,000.The subscription window for the issue will remain open between Mar. 28 and Apr.
3. Allotment of shares in the offer is expected to be finalised on Apr. 4.
This will be followed by the initiation of refunds for the non-allottees and the credit of shares into the demat account of successful bidders on Apr. 7.Shares of Spinaroo Commercial Ltd.
are proposed to be listed on the BSE SME platform on Apr. 8.The company has appointed Finshore Management Services Ltd.
as the book running lead manager and Cameo Corporate Services Ltd. as the registrar for the IPO. Black Fox Financial Pvt.
is the market maker for this SME offering.Studds IPO: Helmet-Maker Retries Market Debut After Seven YearsSpinaroo Commercial Ltd. IPO GMP TodayAccording to Investorgain, the grey market premium on Spinaroo Commercial Ltd.
's IPO stood at Rs 0 as of 7:58 a.m. on Mar.
28. The current GMP trend indicates a possibly flat listing for the shares of Spinaroo Commercial Ltd.Note: GMP is not an official source of data and is based on speculation.
Spinaroo Commercial Ltd. Business And FinancialsSpinaroo Commercial Ltd. manufactures aluminium foil containers, aluminium home foil, paper cups, paper plates, and paper bowls.
The company is also engaged in the production of semi-processed materials and machinery used in paper cups.Use of ProceedsSpinaroo Commercial Ltd. has proposed to use the net proceeds from the IPO to fund the working capital requirements of the company.
A portion of the money raised via the IPO will be used for general corporate purposes.FinancialsSpinaroo Commercial Ltd. witnessed a drop of over 22% in revenues to Rs 41.
21 crore in FY24 from Rs 53.19 crore in FY23. Despite the drop in revenue, the company's profit during the period rose to Rs 1.
4 crore in FY24 from Rs 93 lakh in the previous fiscal. In the first nine months of FY25, Spinaroo Commercial Ltd. posted a revenue of Rs 21.
02 crore with a profit of Rs 61 lakh.Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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