Atharva Polyplast IPO Day 1: Issue subscribed 67% so far. Check GMP, key details

The Atharva Polyplast initial public offering (IPO) began on Tuesday, 30 June, and will end on Thursday, 2 July. The Atharva Polyplast IPO price band is ₹55-60 per equity share, with a face value of ₹10 per share.

Atharva Polyplast is engaged in manufacturing precision plastic components for industries such as furniture, home appliances, and automobiles. The company specialises in injection moulding, processing materials including polypropylene (PP), acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE) and other engineering polymers.

It primarily serves original equipment manufacturers (OEMs) and Tier-1 suppliers in India, offering end-to-end solutions ranging from mould design and prototyping to production, assembly and quality testing. The company also undertakes value-added assembly of components, including fasteners, hinges, and foam parts, based on customer specifications.

Atharva Polyplast operates a manufacturing facility spread across 2,34,614 sq. ft., including 40,000 sq. ft. of production space. The plant is equipped with more than 17 injection moulding machines, with capacities ranging from 100 to 1,000 tonnes, enabling it to serve a diverse range of end-use industries.

Atharva Polyplast IPO GMP today

Atharva Polyplast IPO GMP today is +6. Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price of Atharva Polyplast shares was ₹66 apiece, which is 10% higher than the IPO price of ₹60.

According to grey market trends over the last 13 sessions, today's IPO GMP is on an upward trajectory, indicating a potentially strong listing. The minimum GMP recorded is ₹0.00, while the maximum is ₹10, according to experts' insights.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Atharva Polyplast IPO Subscription status

Atharva Polyplast IPO subscription status was 67% on day 1, so far. The retail portion was subscribed at 79%, the NII portion was booked at 1.28x, and the Qualified Institutional Buyers (QIBs) portion has yet to receive bids.

The company has received bids for 20,10,000 shares against 30,00,000 shares on offer at 13:08 IST, according to chittorgarh.com.

Atharva Polyplast IPO details

The Atharva Polyplast IPO comprises a fresh issue of 4,500,000 equity shares with a face value of ₹10 each.

Of the total issue size, 226,000 equity shares have been set aside for the market maker (R.K. Stockholding Pvt Ltd), resulting in a net issue of 4,274,000 equity shares available to the public.

Horizon Management Pvt. Ltd serves as the book running lead manager, while MUFG Intime India Pvt. Ltd acts as the issue's registrar.

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