Swashthik Plascon Limited IPO: Key Details and Investor Interest

Swashthik Plascon Limited IPO: Key Details and Investor Interest

VoM News Desk | November 21, 2023 | 06:13 PM IST | Breaking News | Follow on Google News

Swashthik Plascon Limited IPO: Key Details and Investor Interest

Swashthik Plascon Limited IPO: Key Details and Investor Interest

Swashthik Plascon Limited’s Initial Public Offering (IPO) is set to open for subscription on Friday, November 24, and will close on Wednesday, November 29. The price band for the IPO is fixed between ₹80 to ₹86.

Minimum Investment and Company Profile

Investors can bid for a minimum of 1,600 shares and in multiples thereof. Swashthik Plascon specializes in manufacturing PET preforms and bottles for various applications, including household cleaning, FMCG packaging, medicines, and alcohol.

Promoters and Industry Comparison

The company’s promoters include Parasmal Mahendra Kumar and others. In the RHP, Swashthik Plascon is compared with its peer, Technopack Polymers Limited, which has a P/E of 15.91.

IPO Details and Fund Utilization

The IPO, valued at ₹40.76 crore, comprises entirely a fresh issue of 4,739,200 equity shares, with no Offer for Sale (OFS) component. The proceeds are intended for various business purposes, including establishing new manufacturing facilities, installing a solar power plant, acquiring equipment, fulfilling working capital requirements, and other general corporate purposes.

Registrar and Book Running Lead Manager

Bigshare Services Pvt Ltd is the registrar, and Shreni Shares Private Limited is the book running lead manager for the IPO. Nikunj Stock Brokers is the market maker.

Grey Market Premium and Estimated Listing Price

The IPO’s grey market premium (GMP) stands at +7, indicating that Swashthik Plascon shares are trading at a premium of ₹7 in the grey market. Based on the upper end of the IPO price band and current GMP, the estimated listing price is ₹93 per share, 8.14% higher than the IPO price of ₹86.

VoM News Desk

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