GSM Foils has announced its initial public offering (IPO) with a fixed price issue of Rs 11.01 crore. The IPO, entirely a fresh issue of 34.4 lakh shares.
GSM Foils IPO Subscription Window GSM Foils IPO opened for subscription on May 24, 2024, and will close on May 28, 2024.
GSM Foils IPO Allotment Date The allotment of shares is expected to be finalized on May 29, 2024.
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GSM Foils IPO Listing DateThe shares of GSM Foils IPO is likely to list on the NSE SME on May 31, 2024.
GSM Foils IPO Pricing
The IPO price is set at Rs 32 per share. Retail investors are required to apply for a minimum lot size of 4,000 shares, necessitating an investment of Rs 128,000. High Net-worth Individuals (HNIs) must invest in a minimum of 2 lots, totaling 8,000 shares and an investment of Rs 256,000.
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GSM Foils IPO GMPAs per multiple websites that track the grey market premium activities, the shares of Indegene Limited IPO are commanding a GMP in the price range of Rs 5 – Rs 10 in the unlisted market
Shreni Shares Limited is the book-running lead manager for the GSM Foils IPO, with Bigshare Services Pvt Ltd acting as the registrar. Shreni Shares also serves as the market maker for this issue.
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Company OverviewIncorporated in April 2019, GSM Foils Limited specializes in the manufacture of blister foils and aluminium pharma foils, commonly referred to as “strip foils.” These products are essential for packaging pharmaceutical medicines, such as capsules and tablets, ensuring they remain in optimal condition until consumption.
Manufacturing FacilityGSM Foils has established a manufacturing facility in the Sapphire Building in Thane, Vasai, Maharashtra. The facility spans 7,973 square feet, encompassing the ground floor and three additional floors. The company emphasizes stringent quality control measures to maintain the integrity and safety of its packaging materials, which directly contact medicinal products.
