Unlisted shares of Sati Poly Plast Ltd are trading Rs 125 higher in the grey market, signalling a 96.15 per cent listing gain from the public issue.
Sati Poly Plast IPO: The initial public offering (IPO) of Sati Poly Plast Limited, which is going to be closed today, July 16, has received a whopping response from investors. Till 11:12 am on the final day of bidding on Tuesday, July 16, the 52.56-crore IPO received 194.03 times subscription, garnering bids for 17,19,10,000 shares as against 8,86,000 shares on offer.
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The price band of the IPO has been fixed at Rs 123-Rs 130 apiece. was opened for public subscription on July 12.
The retail quota received a 311.72 times subscription, while the non-institutional investors category got 173.92 times subscription. The qualified institutional buyers (QIB) category got 3.06 times subscription.
Investors need to apply for a minimum of 1,000 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,30,000 [1,000 (lot size) x Rs 130 (upper price band)].
The Sati Poly Plast IPO allotment will likely be finalised on July 18, while its listing will take place on the NSE SME on July 22. The IPO will be closed on July 16.
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Sati Poly Plast IPO GMP Today
According to market observers, unlisted shares of Sati Poly Plast Ltd are trading Rs 125 higher in the grey market as compared with its issue price. The Rs 125 grey market premium or GMP means the grey market is expecting a 96.15 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
The Rs 125 GMP is significantly higher than the Rs 105 premium recorded on Monday.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Sati Poly Plast IPO: More Details
Sati Poly Plast IPO is entirely a fresh issue of 13.35 lakh shares.
Sati Poly Plast Limited, which was incorporated in July 1999, manufactures multifunctional flexible packaging materials that meet the packaging needs of various industries. The company has set up two manufacturing units. Plant 1 is located in Gautam Budh Nagar, Noida, and can produce 540 tons per month. Plant 2 is situated in Udhyog Kendra, Noida, and has an installed capacity of 540 tons per month.
Sati Poly Plast Limited’s revenue fell 6.05 per cent, while its profit after tax (PAT) rose 6.39 per cent during the financial year 2023-24.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Sati Poly Plast IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Sati Poly Plast IPO is Spread X Securities.
