The allotment for the GSM Foils IPO is expected to be finalized today. Investors can check their allotment status through the registrar, Bigshare Services Pvt. Ltd.
Due to high demand in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment will have their application money refunded starting May 30, 2024. Shares will be credited to investors’ demat accounts on the same day following the refund process. The GSM Foils IPO is an SME IPO, with shares expected to be listed on the NSE SME platform around May 31, 2024.
Steps to Check Allotment Status
If you applied for the GSM Foils IPO, you can check your allotment status on the website of the IPO registrar, Bigshare Services Pvt. Ltd.
- Visit the IPO registrar’s website at this link.
- Select ‘GSM Foils’ in the ‘Company Selection’ dropdown menu.
- Choose to search by application number, beneficiary ID, or PAN.
- Enter the details based on your selection.
- Enter the Captcha and click ‘Search.’
Your GSM Foils IPO allotment status will be displayed on the screen.
About GSM Foils
GSM Foils manufactures blister foils and aluminum pharmaceutical foils, also known as “strip foils,” used for packaging pharmaceutical products like capsules and tablets. These foils are produced with the highest quality standards as they come into direct contact with the medicine.
The company operates a manufacturing facility in the Sapphire Building in Thane, Vasai, Maharashtra, spanning 7,973 square feet across four floors. This facility is fully equipped with the necessary tools, machinery, and amenities to ensure efficient manufacturing, quality testing, research, storage, and packaging.
GSM Foils IPO Details
The GSM Foils IPO includes a fresh issue of 34.6 lakh shares, with a total issue size of ₹11 crore. The IPO price is set at ₹32 per share. The company plans to use the funds from the IPO for capital expenditures, purchasing plant and machinery, working capital requirements, and general corporate purposes.
GSM Foils Subscription Status
The GSM Foils IPO received an overwhelming response from all investors, being subscribed 257.30 times. The retail portion was subscribed 247 times, while the non-institutional investor (NII) portion was subscribed 259.29 times. The company received bids for 83,982,24,000 shares against 32,64,000 shares on offer, according to data on chittorgarh.com.
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