Creative Graphics Solutions India Limited IPO opened for subscription on Thursday, March 28, and will close on Thursday, April 4. The issue's price band has been fixed in the range of ₹80 to ₹85 per share. The IPO lot size for Creative Graphics Solutions IPO is 1,600 shares.
The issue is 8.00 to 8.50 times of the face value at the lower price band and the upper price band respectively. Creative Graphics IPO has set aside 3.2 lakh for market makers, 9.12 lakh for non-institutional investor (NIIs), 30.4 lakh for qualified institutional buyers (QIBs) (including 18.24 lakh for anchor investors), and 21.28 lakh for the retail portion.
Also Read: Creative Graphics Solutions India IPO: Check price band, date, size and other key details
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The IPO garnered ₹15.5 crore on Wednesday, March 27, by selling 18.24 lakh equity shares at a price of ₹85 per. Some of well-known investors, including BofA Securities Europe SA - ODI, QRG Investment and Holdings Limited, Finavenue Capital Trust - Finavenue Growth Fund, Vikasa Global Fund PCC - Eubilia Capital Partners Fund I, Acintyo Investment Fund PCC - Cell 1, Absolute Return Scheme, and Astorne Capital VCC Arven, subscribed to the anchor book.
Pre-press company Creative Graphics manufactures flexographic printing plates, such as letter press plates, metal back plates, coating plates, digital flexo plates, and conventional flexo printing plates. The organization serves clients in Africa, Thailand, Qatar, Kuwait, Nepal, and other countries outside of India.
Through its 2 (two) completely owned subsidiaries, Creative Graphics Premedia Private Limited and Wahren India Private Limited, the company has widened its horizons outside its primary business.
As per the Red Herring Prospectus (RHP), the company believes that none of the listed companies in India offer exclusively the flexographic plates offered by the company. Hence a strict comparison is not possible.
Between March 31, 2022, and March 31, 2023, the company's profit after tax (PAT) climbed by 85.82%, while the company's sales increased by 33.63%.
Creative Graphics Solutions IPO subscription status is 18.91 times, on day 4.
The retail portion was subscribed 31.58 times, and NII portion was booked 14.52 times. QIB portion was booked 2%.
The company has received bids for 8,04,73,600 shares against 42,56,000 shares on offer, according to data on chittorgarh.com.
Creative Graphics Solutions IPO subscription status was 9.09 times, on day 3.
Creative Graphics Solutions IPO subscription status was 3.50 times, on day 2. Retail portion continued to receive overwhelming response and was booked 6.14 times and NII was subscribed 2.03 times.
The issue had taken off a decent start with retail portion booked about 1.72 times on day 1 as per chittorgarh.com. The overall Creative Graphics Solutions IPO subscription status was 96%. The NII portion was booked 47%.
Creative Graphics Solutions India Limited IPO, worth ₹54.40 crore, consists of a fresh issue of 64,00,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
The net proceeds from the new issue will be used by the company for the following purposes: covering working capital needs; repaying or prepaying some loans in full or in part; funding capital expenditures; funding inorganic growth through unidentified acquisitions for the business; and general corporate expenses.
The company's promoters are Sarika and Deepanshu Goel.
For the Creative Graphics Solutions India IPO, Corporate Capitalventures Pvt Ltd is the book running lead manager and Bigshare Services Pvt Ltd is the registrar. Ss Corporate Securities has been selected as the market maker.
Creative Graphics IPO GMP or grey market premium is +50. This indicates Creative Graphics Solutions share price were trading at a premium of ₹50 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Creative Graphics Solutions share price was indicated at ₹135 apiece, which is 58.82% higher than the IPO price of ₹85.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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