After a strong response to its IPO, GSM Foils is expected to finalize the share allotment process today. Investors can check the status of their GSM Foils IPO allotment on the official website of the registrar, Bigshare Services.
How to Check IPO Allotment Status
- Visit the IPO Allotment Status page on the Link Intime India website
- Select the IPO from the dropdown menu
- Enter your application number, fill in the captcha, and hit ‘Submit’
GSM Foils IPO Grey Market Premium (GMP)
In the grey market, GSM Foils’ shares are trading at a premium of Rs 5. If this trend continues, the shares could see over 10% gains on May 31. The IPO was priced at Rs 32 per share at the upper end.
The Rs 11 crore SME IPO of GSM Foils was subscribed over 200 times, thanks to strong demand across all categories. The IPO consists entirely of a fresh issue of 34.4 lakh shares.
Use of IPO Proceeds
The money raised from the IPO will be used for:
- Purchasing new plant and machinery for existing facilities
- Funding working capital needs
- General corporate purposes
About GSM Foils
GSM Foils manufactures Blister Foils and Aluminium Pharma Foils, also known as Strip Foils, which are used in the packaging of pharmaceutical capsules and tablets.
India’s pharmaceutical industry is a global leader, known for its affordable generic drugs and vaccines. The industry has grown at a 9.43% CAGR over nine years and is third in the world in production volume.
For the period ending December 2023, GSM Foils reported revenues of Rs 27.17 crore and a net profit of Rs 1.24 crore.
Shreni Shares is the lead manager for the IPO, and Bigshare Services is the registrar.
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