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  5. GSM Foils Limited IPO subscription opens on May 24: Price band to listing date, key factors to know

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GSM Foils Limited IPO subscription opens on May 24: Price band to listing date, key factors to know

Upstox
By Upstox News Desk

3 min read | Updated on May 22, 2024, 16:03 IST

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SUMMARY

GSM Foils Limited's IPO, opening on May 24, aims to raise ₹11.01 crore, offering 34.4 lakh shares at ₹32 each. Retail investors can invest in lots of 4,000 shares, totaling ₹1,28,000, while HNIs can invest in lots of 8,000 shares. The subscription window closes on May 28, with share allotment finalizing by May 29.

The GSM Foils Limited IPO subscription window opens on Friday, May 24 and closes on Tuesday, May 28. GSM Foils Limited IPO share allotment status will be finalised by Wednesday, May 29.

The GSM Foils Limited IPO subscription window opens on Friday, May 24 and closes on Tuesday, May 28. GSM Foils Limited IPO share allotment status will be finalised by Wednesday, May 29.

GSM Foils Limited Ltd IPO opens for subscription on Friday, May 24. The aluminium foil manufacturer plans to raise ₹11.01 crore through the initial public offer.

Here are five things you should know about the issue before investing your money into it:

GSM Foils Limited IPO price band and lot size

The GSM Foils Limited IPO has a fixed price of ₹32 per share. The minimum investment for retail investors is 1 lot of 4,000 shares, which amounts to an application amount of ₹1,28,000. The minimum lot size for high net worth individuals (HNIs) is 2 lots of 8,000 shares, amounting to an investment of ₹2,56,000.

GSM Foils Limited IPO offer size

The GSM Foils Limited IPO is an entirely fresh issue comprising 34.4 lakh shares of a face value of ₹10 each.

GSM Foils Limited has reserved 50% of the net offer size for the retail investors and the remaining 50% for other investors.

GSM Foils Limited IPO dates

The GSM Foils Limited IPO subscription window opens on Friday, May 24 and closes on Tuesday, May 28. GSM Foils Limited IPO share allotment status will be finalised by Wednesday, May 29.

Successful bidders will receive the shares in their demat accounts on May 30. GSM Foils Limited shares are likely to list on the NSE SME platform on May 31.

The book running lead manager and the market maker for the issue is Shreni Shares Limited. The registrar for the issue is Bigshare Services Pvt Ltd.

GSM Foils Limited IPO objective

GSM Foils Limited will use the money raised via the public issue for funding capital expenditure for the purchase of plant and machinery. Additionally the funds will be used for the fulfilment of the working capital requirements of the company and for other general corporate purposes.

GSM Foils Ltd Financial details

9MFY24FY 21FY22FY23
Revenue27.1836.4671.8565.89
Net Profit1.250.340.631.43
Net worth1.276.586.598.36

[amount in ₹ crore]

About GSM Foils Limited

GSM Foils is engaged in manufacturing packaging foil for the pharmaceutical industry. The aluminium foil maker produces primary packaging materials that come into direct contact with the medicine. GSM Foils’ operations are spread across 13 states and 1 Union Territory.

To know more about IPOs listing, schedule and upcoming IPOs, click here

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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