Spinaroo Commercial IPO: Price band, GMP among key things to know

Spinaroo Commercial is launching an Rs 11 crore IPO on March 28, available for subscription until April 2. The price per share is Rs 51 with a lot size of 2000 shares. The funds raised will be used for working capital and general corporate purposes. Allotment will be finalized on April 3, and listing is expected on April 7.

Spinaroo Commercial will launch its Rs 11 crore public offer on March 28. The issue will be available for subscription till April 2. Under the IPO, the company will offer about 19.

94 lakh shares to investors.In the public offer, about 50% is reserved for retail investors and the rest 50% for non-retail investors.Check Spinaroo Commercial IPO price bandSpinaroo Commercial has fixed a price band of Rs 51 per share, where investors can bid for 2000 shares in one lot.

What is Spinaroo Commercial GMPSpinaroo Commercial IPO GMP is zero ahead of the issue opening in the unlisted market, in line with most other SME IPOs launched this year.Use of IPO proceedsThe proceeds from the IPO will be used primarily for the working capital requirements and general corporate purposes.Key Dates: Allotment and ListingThe allotment of shares will be finalized on April 3.

The company’s shares are expected to be listed on the stock exchange on April 7.About Spinaroo CommercialSpinaroo Commercial is engaged in manufacturing of Aluminium Foil Container, Aluminium Home Foil, Paper Cups, Paper Plates, Paper Bowls, Semi Processed Material for Paper Cups viz. paper coating, printing, blanking etc.

The company also deals in a wide range of Paper Cup related Machinery like High-Speed Paper Cup Making Machine, Flexo Printing Machine, Automatic Roll Die Cutting Machine etc. with full end to end support.The India paper cups market size reached 22.

7 billion Units in 2023. The market is projected to reach 28.7 billion units by 2032, exhibiting a growth rate (CAGR) of 2.

64% during 2023-2032.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times).