Active Stocks
Tue Jun 25 2024 15:59:52
  1. HDFC Bank share price
  2. 1,710.90 2.32%
  1. Power Grid Corporation Of India share price
  2. 327.60 -1.64%
  1. ICICI Bank share price
  2. 1,199.05 2.48%
  1. Tata Steel share price
  2. 175.70 -1.24%
  1. Tata Motors share price
  2. 954.85 -0.35%
Business News/ Markets / Ipo/  GSM Foils IPO to open for subscription on May 24; Check key dates, price band, other details

GSM Foils IPO to open for subscription on May 24; Check key dates, price band, other details

GSM Foils IPO will open for subscription on Friday, May 24 and aims to raise ₹11 crore through its maiden public issue.

GSM Foils IPO will open on May 24. In Picture: PVC aluminum foil blister pack machine (Picture Credits:
GSM Foils IPO will open on May 24. In Picture: PVC aluminum foil blister pack machine (Picture Credits:

GSM Foils IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) GSM Foils Ltd will open for subscription on Friday, May 24, 2024. The aluminum pharma foils manufacturer aims to raise 11 crore through the public issue which will be open for bidding till May 28,2024.

GSM Foils manufactures blister foils and aluminium pharma foils, also known as "strip foils," used for packaging pharmaceutical medicines such as capsules and tablets. The company's leading products are tested for abrasion resistance, high tensile strength, durability, bond strength, and sealing strength.

Also Read: Awfis Space IPO oversubscribed on Day 2, with retail, NIIs support. Check GMP, subscription status, more. Apply or not?

GSM Foils IPO Details:

GSM Foils IPO is a fixed price issue of 11.01 crore. The issue is entirely a fresh issue of 34.4 lakh shares. GSM Foils IPO opens for subscription on May 24, 2024 and closes on May 28, 2024. The allotment for the GSM Foils IPO is expected to be finalized on Wednesday, May 29, 2024. GSM Foils IPO will list on NSE SME with tentative listing date fixed as Friday, May 31, 2024.

GSM Foils IPO price is 32 per share for the face value of 10 per share. The minimum lot size for an application is 4,000 shares. The minimum amount of investment required by retail investors is 128,000. The minimum lot size investment for HNI is two lots (8,000 shares) amounting to 256,000. 

Shreni Shares is the book running lead manager of the GSM Foils IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for GSM Foils IPO is Shreni Shares. The SME IPO has reserved 50 per cent of the net issue for retail investors and the remaining for other groups of investors.

Also Read: Go Digit IPO listing date today. Here's what GMP, experts say on share debut

GSM Foils Company Details

The company has established a manufacturing facility at Sapphire Building in Thane, Vasai, Maharashtra, covering an area of 7,973 square feet. The facility is fully equipped with tools, machinery, and amenities necessary to support seamless manufacturing processes, hassle-free production, quality testing, research, storage, and packaging.

As of February 28, 2024 the company has 39 employees on payroll basis. The market capitalization of GSM Foils is 41 crore. GSM Foils Limited's revenue decreased by 8.3 per cent and profit after tax rose by 124.62 per cent between the financial year ending March 31, 2023 and March 31, 2022.

Read all IPO related news here

The company proposes to utilize the net proceeds from the issue towards funding the following objects:
-Funding of capital expenditure towards the purchase of plant and machineries.
-Funding working capital requirements of the company.
-General corporate purposes.


3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 May 2024, 05:28 PM IST
Next Story footLogo
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started