If you’re considering investing in an IPO, Premium Plast’s SME IPO is opening next week. The IPO will be available for investment from Monday, October 21,
and will close on Wednesday, October 23. The price band for each equity share is set at ₹46-49, with a face value of ₹10 per share.
Investors must place a minimum bid for 3,000 equity shares.
Grey Market Premium (GMP) and Expected Listing Price
According to Investorgain.com, the current Grey Market Premium (GMP) for Premium Plast’s IPO is ₹5. Based on the upper price band of ₹49
and the GMP, the estimated listing price of the shares is ₹54, which is about 10.2% higher than the IPO price.
Details About the IPO and Fund Utilization
The Premium Plast IPO involves a fresh issue of 5,346,000 equity shares, amounting to ₹26.20 crore. There is no Offer for Sale (OFS) in this issue.
Khandwala Securities Limited is the book running lead manager, and Bigshare Services Private Limited will handle the registration.
Asnani Stock Broker will act as the market maker for this IPO.
The company plans to use the funds raised to expand its manufacturing facility in Pithampur, Madhya Pradesh, purchase new machinery,
and set up a rooftop solar energy plant. Additionally, the funds will be used for other corporate purposes.
Company Overview and Business Operations
Premium Plast provides automotive components to Original Equipment Manufacturers (OEMs) as a tier-1 supplier.
The company specializes in designing, manufacturing, and supplying exterior plastic components, interior cabin parts, and under-the-hood components for commercial vehicles.
Their product range includes automotive parts, plastic industrial components, and packaging components.