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Business News/ Markets / Ipo/  Gabriel Pet Straps IPO announces price band at 101 apiece; check GMP, issue details, key dates, more
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Gabriel Pet Straps IPO announces price band at ₹101 apiece; check GMP, issue details, key dates, more

Gabriel Pet Straps Limited IPO price band set at ₹101 apiece, with a lot size of 1,200 shares. Subscription opens on January 31 and closes on February 2.

Gabriel Pet Straps Limited IPO price band has been set at ₹101 apiece. (https://www.gabrielpetstraps.com/)Premium
Gabriel Pet Straps Limited IPO price band has been set at 101 apiece. (https://www.gabrielpetstraps.com/)

Gabriel Pet Straps Limited IPO price band has been set at 101 apiece. Gabriel Pet Straps IPO will open for subscription on Wednesday, January 31, and close on Friday, February 2. Gabriel Pet Straps IPO lot size consists of 1,200 shares. Investors can bid for a minimum of 1,200 shares and in multiples thereof. The issue price is 10.1 times of the face value.

Under the "Gabriel" brand, the company produces and markets pet straps that are frequently used to package bulky items. The firm makes pet straps that range in width from 9 to 32 mm and thickness from 0.70 to 1.30 mm.

Also Read: Vijay Kedia backed TAC Security files IPO papers with SEBI, to list with NSE Emerge

Pet straps, a product of the corporation, are made using a suitable ratio of virgin content raw materials—hot-washed pet bottle flakes—and non-virgin content raw materials—used pet strap grinding.

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The company's promoters are Shah Jay Pareshbhai, Varasada Vimal Dayabhai, and Kavathiya Vivek Dharmendrabhai.

As per the company's DRHP, the company's listed peer is Vera Synthetic Limited.

Between March 31, 2022, and March 31, 2023, Gabriel Pet Straps Limited's profit after tax (PAT) climbed by 1511.96% and its revenue increased by 54.93%.

Gabriel Pet Straps IPO details

Gabriel Pet Straps Limited IPO, which is worth 8.06 crore, comprises a fresh issue of 7,98,000 equity shares with a face value of 10. This is a completely a fresh issue, and there is no offer-for-sale component.

The company intends to use the net proceeds from the issue to finance its objectives of: land acquisition; financing of the company's capital expenditure needs for the establishment of a solar power plant; repayment or prepayment, in full or in part, of borrowings obtained by the company from banks, financial institutions, and non-banking financial companies; and general corporate purposes.

Also Read: Nova AgriTech IPO: GMP, subscription status, review, other details. Should you apply as bidding ends today?

The registrar for the Gabriel Pet Straps IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Shreni Shares Limited.

Tentatively, Gabriel Pet Straps Limited IPO basis of allotment of shares will be finalised on Monday, February 5, and the company will initiate refunds on Tuesday, February 6, while the shares will be credited to the demat account of allottees on the same day following refund. Gabriel Pet Straps share price is likely to be listed on BSE SME on Wednesday, February 7.

Also Read: Konstelec Engineers IPO allotment to be finalised today; GMP rises, steps to check Konstelec IPO allotment status

Gabriel Pet Straps IPO GMP today 

Gabriel Pet Straps IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 101 with no premium or discount in the grey market according to www.investorgain.com

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

Also Read: Harshdeep Hortico IPO: Here are date, price band, GMP and other key details

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 25 Jan 2024, 12:44 PM IST
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