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GSM Foils IPO is a fixed price issue of Rs 11.01 crores. The issue is entirely a fresh issue of 34.4 lakh shares.
GSM Foils IPO bidding started from May 24, 2024 and ended on May 28, 2024. The allotment for GSM Foils IPO was finalized on Wednesday, May 29, 2024. The shares got listed on NSE SME on May 31, 2024.
GSM Foils IPO price is ₹32 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹256,000.
Shreni Shares Limited is the book running lead manager of the GSM Foils IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for GSM Foils IPO is Shreni Shares.
Refer to GSM Foils IPO RHP for detailed information.
| IPO Date | May 24, 2024 to May 28, 2024 |
| Listing Date | May 31, 2024 |
| Face Value | ₹10 per share |
| Price | ₹32 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 3,440,000 shares (aggregating up to ₹11.01 Cr) |
| Fresh Issue | 3,440,000 shares (aggregating up to ₹11.01 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,371,649 |
| Share holding post issue | 12,811,649 |
| Market Maker portion | 176,000 shares Shreni Shares |
GSM Foils IPO offers 3,440,000 shares. 1,632,000 (47.44%) to NII, 1,632,000 (47.44%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 176,000 (5.12%) |
| Other Shares Offered | 1,632,000 (47.44%) |
| Retail Shares Offered | 1,632,000 (47.44%) |
| Total Shares Offered | 3,440,000 (100%) |
GSM Foils IPO opens on May 24, 2024, and closes on May 28, 2024.
| IPO Open Date | Friday, May 24, 2024 |
| IPO Close Date | Tuesday, May 28, 2024 |
| Basis of Allotment | Wednesday, May 29, 2024 |
| Initiation of Refunds | Thursday, May 30, 2024 |
| Credit of Shares to Demat | Thursday, May 30, 2024 |
| Listing Date | Friday, May 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 28, 2024 |
Investors can bid for a minimum of 4000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹128,000 |
| Retail (Max) | 1 | 4000 | ₹128,000 |
| HNI (Min) | 2 | 8,000 | ₹256,000 |
| Lot Size Calculator | |||
The company's Promoters are Mr. Sagar Girish Bhanushali and Mr. Mohansingh L Parmar.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 73.14% |
Incorporated in April 2019, GSM Foils Limited manufactures Blister Foils and Aluminium Pharma Foils, also known as "Strip Foils," used for packaging pharmaceutical medicines such as capsules and tablets. These foils are primary packaging materials that come into direct contact with the medicine, so utmost care is taken to ensure their quality.
The company has established a manufacturing facility at Sapphire Building in Thane, Vasai, Maharashtra, covering an area of 7,973 square feet across the ground plus 3 floors. The manufacturing facilities are fully equipped with tools, machinery, and amenities necessary to support seamless manufacturing processes, hassle-free production, quality testing, research, storage, and packaging.
The company is ISO 9001:2015 certified company.
The company has a presence across India with clients in 13 states and 1 Union territory in the domestic market.
As of February 28, 2024 the company has 39 employees on payroll basis.
GSM Foils Limited's revenue decreased by -8.3% and profit after tax (PAT) rose by 124.62% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,208.18 | 1,438.18 | 1,050.65 | 720.57 |
| Revenue | 2,717.87 | 6,588.69 | 7,185.04 | 3,646.23 |
| Profit After Tax | 124.79 | 142.97 | 63.65 | 33.93 |
| Net Worth | 126.99 | 835.73 | 659.06 | 657.82 |
| Reserves and Surplus | 124.79 | |||
| Total Borrowing | 1,412.95 | 242.43 | 219.20 | |
| Amount in ₹ Lakhs | ||||
The market capitalization of GSM Foils IPO is Rs 41 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 23.62% |
| ROCE | 1.60% |
| Debt/Equity | 11.13 |
| RoNW | 98.27% |
| P/BV | 1.27 |
| PAT Margin (%) | 4.59 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.53 | 1.3 |
| P/E (x) | 20.98 | 24.64 |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is operating in a highly competitive segment that also faces volatility in commodity prices. The company has posted inconsistency in its top and bottom lines. Based on FY24 annualized earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium to long term. Read detail review...
The GSM Foils IPO is subscribed 257.30 times on May 28, 2024 6:19:56 PM. The public issue subscribed 247.10 times in the retail category, times in the QIB category, and 259.51 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 259.51 |
| Retail | 247.10 |
| Total | 257.30 |
Total Application : 100,816 (247.10 times)
| Listing Date | May 31, 2024 |
| BSE Script Code | |
| NSE Symbol | GSMFOILS |
| ISIN | INE0SQY01018 |
| Final Issue Price | ₹32 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹32.00 |
| ₹32.00 |
| ₹30.50 |
| ₹33.60 |
| ₹33.60 |
GSM Foils Limited
Gala No 06/106/206/306, Sapphire Building
Diamond Industrial Estate, Vasai East IE,
Thane- 401208
Phone: +9184689 68102
Email: investors@gsmfoils.com
Website: https://www.gsmfoils.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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GSM Foils IPO is a SME IPO of 3,440,000 equity shares of the face value of ₹10 aggregating up to ₹11.01 Crores. The issue is priced at ₹32 per share. The minimum order quantity is 4000 Shares.
The IPO opens on May 24, 2024, and closes on May 28, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in GSM Foils IPO using UPI as a payment gateway. Zerodha customers can apply in GSM Foils IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GSM Foils IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GSM Foils IPO opens on May 24, 2024 and closes on May 28, 2024.
GSM Foils IPO lot size is 4000 Shares, and the minimum amount required is ₹128,000.
You can apply in GSM Foils IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for GSM Foils IPO will be done on Wednesday, May 29, 2024, and the allotted shares will be credited to your demat account by Thursday, May 30, 2024. Check the GSM Foils IPO allotment status.
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