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Business News/ Markets / Ipo/  Swashthik Plascon Limited share price debuts with 40% premium at 120.10 on BSE SME
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Swashthik Plascon Limited share price debuts with 40% premium at ₹120.10 on BSE SME

Swashthik Plascon Limited share price listed at ₹120.10, 40% higher than the issue price of ₹86 on BSE SME. Swashthik Plascon IPO GMP is +15, indicated a premium of ₹15 in the grey market.

Swashthik Plascon IPO shares list on BSE SME today. (https://swashthikplascon.com/)Premium
Swashthik Plascon IPO shares list on BSE SME today. (https://swashthikplascon.com/)

Swashthik Plascon IPO listing: Swashthik Plascon Limited share price made a positive debut on BSE SME today. On BSE SME, the Swashthik Plascon share price was listed at 120.10, which is 39.65% higher than the issue price of 86.

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

Also Read: Swashthik Plascon IPO: Check latest GMP, subscription status on day 3, other key details

Swashthik Plascon IPO subscription status was 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.

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Also Read: AMIC Forging IPO allotment out: Latest GMP, here's how to check AMIC IPO allotment status

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.

Swashthik Plascon Limited IPO GMP today

Swashthik Plascon IPO GMP today or grey market premium is +15. This indicated Swashthik Plascon share price today is trading at a premium of 15 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 101 apiece, which is 17.44% higher than the IPO price of 86.

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

Also Read: Swashthik Plascon IPO allotment finalised; here’s how to check application status

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: 05 Dec 2023, 10:04 AM IST
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