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Business News/ Markets / Ipo/  Swashthik Plascon IPO: Check latest GMP, subscription status on day 3, other key details
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Swashthik Plascon IPO: Check latest GMP, subscription status on day 3, other key details

Swashthik Plascon Limited IPO opens for subscription on Friday, November 24, and closes on Wednesday, November 29. Swashthik Plascon IPO's price band is set in the range of ₹80 to ₹86. Investors can bid for a minimum of 1,600 shares and in multiples thereof.

Swashthik Plascon Limited IPO opens for subscription on Friday, November 24, and closes on Wednesday, November 29. Photo: iStockPremium
Swashthik Plascon Limited IPO opens for subscription on Friday, November 24, and closes on Wednesday, November 29. Photo: iStock

Swashthik Plascon Limited IPO opens for subscription on Friday, November 24, and closes on Wednesday, November 29. Swashthik Plascon IPO's price band is set in the range of 80 to 86. Investors can bid for a minimum of 1,600 shares and in multiples thereof.

The company Swasthik Plascon is focused on producing PET preforms and bottles. They produce PET bottles for a range of uses, including household cleaning products, repellent dispensers, FMCG packaging, medicines, and alcohol. They also make PET preforms for juice, soft drink, and packaged drinking water bottles.

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The company's promoters are Parasmal Mahendra Kumar, Parasmal Ravindra Kumar, Parasmal Dharmendra Kumar, Misrilal Parasmal, P Umrao, Mahendrakumar Nirmala, R Asha Jain, and D Anita.

As per the RHP, Swashthik Plascon Limited IPO listed peer is Technopack Polymers Limited (P/E of 15.91).

Also Read: Fedbank Financial Services IPO: Issue fully booked on last day of bidding; details here

Swashthik Plascon IPO details

Swashthik Plascon Limited IPO, which is worth 40.76 crore, is completely a fresh issue of 4,739,200 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company intends to use the net proceeds of the offering to finance the following goals: financing capital expenditures for the establishment of new manufacturing facilities and the installation of equipment; financing the company's capital expenditure requirements for the establishment of a solar power plant; financing the acquisition of equipment for the company's current manufacturing facility; financing the company's working capital requirements; and financing general corporate purposes.

Also Read: Swashthik Plascon Limited IPO opens November 24, price band set at 80-86 per share

Bigshare Services Pvt Ltd is the registrar for the Swashthik Plascon IPO, and Shreni Shares Private Limited is the book running lead manager. Nikunj Stock Brokers is the market maker for the Swashthik Plascon IPO.

Also Read: Tata Technologies IPO Day 3: Subscription status on last day, GMP. Should you apply?

Swashthik Plascon IPO Subscription Status

Swashthik Plascon IPO subscription status is 15.43 times on day 3. The issue received stellar response from retail investors who's portion set was subscribed 13.58 times, and non-institutional buyers who's portion was subscribed 35.76 times, according to data on chittorgarh.com. Qualified Institutions Buyers (QIBs) subscribed 3.42 times to the issue.

The company has received bids for 4,86,27,200 shares against 31,52,000 shares on offer, at 18:21 IST, according to data on chittorgarh.com.

Swashthik Plascon IPO subscription status is 47% on day 1, and the subscription status on day 2 was 1.83 times. 

Also Read: Flair Writing IPO: Bidding ends today. Check latest GMP, subscription status, apply or not?

Swashthik Plascon Limited IPO GMP today

Swashthik Plascon IPO GMP today or grey market premium is +7, similar to previous 9 sessions. This indicated Swashthik Plascon share price today is trading at a premium of 7 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 Swashthik Plascon share price was indicated at 93 apiece, which is 8.14% higher than the IPO price of 86.

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

Also Read: IREDA IPO: GMP jumps on strong subscription status. How to check allotment status as focus shifts on listing date

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 decisions.

 

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Published: 24 Nov 2023, 02:42 PM IST
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