Ideal Technoplast IPO Oversubscribed 50 Times on Final Day; Check Subscription Status, GMP, and Price Band Details

The SME IPO of Ideal Technoplast has been in high demand, with the subscription reaching over 50 times on the third and final day of bidding. Retail investors have been the main drivers of this strong interest.

IPO Details

Ideal Technoplast has set the IPO price at ₹121 per share. The offer is split equally between retail investors and other investors, with 50% reserved for each group. The funds raised from the IPO will be used to cover capital expenses and other general business needs.

Ideal Technoplast IPO GMP

In the grey market, Ideal Technoplast’s shares are trading at a premium of ₹15 above the issue price, indicating a 12% gain over the ₹121 per share price.

Company Overview

Ideal Technoplast is a well-known manufacturer and supplier of rigid plastic packaging. The company provides packaging solutions for industries like paints, agriculture, chemicals, cosmetics, adhesives, lubricants, food, and edible oil. Although the company mainly operates domestically, it also exports products through third parties and export houses.

Financial Performance

For the year ending February 2024, Ideal Technoplast reported total revenues of ₹24.24 crore and a net profit of ₹3.26 crore.

Important Dates

The IPO, which opened on August 21, will close on August 23. The final share allotment is expected on August 26, with the company’s shares likely to be listed on August 28. Swastika Investmart is the lead manager for the issue, and Bigshare Services is handling the IPO registration.