Ideal Technoplast lists at 9% premium on the NSE SME platform; stock hits 5% upper circuit after listing

Ideal Technoplast Industries Limited made a tepid debut on the NSE SME platform on Wednesday, August 28, as its shares were listed at a premium of over 9% against the issue price of ₹121 apiece.

Ideal Technoplast stock opened at ₹132.1 apiece, with an upside of 9.17% against the issue price of ₹121. After listing, the stock rose as much as 5% to hit an intraday high of ₹138.7 per share. At the intraday high, the stock has gained over 14% from the IPO price.

Soon after the stock began to trade, 3.53 lakh shares of the company changed hands on the NSE. The company's total market capitalisation stood at ₹69.35 crore.

The minimum lot size to apply for Ideal Technoplast IPO was fixed at 1,000 shares for retail investors. After listing, the successful bidders who were allotted shares of Ideal Technoplast would have earned a profit of at least ₹11,100 (₹11.1 x 1000).

Ideal Technoplast Ltd IPO details

The subscription window for Ideal Technoplast IPO was open from August 21 to August 23. The share allotment status for Ideal Technoplast IPO was finalised on August 26.

The NSE SME issue saw strong subscription in its three-day bidding window and was booked 112.08 times across categories as investors bid for over 14.1 crore shares against 12.58 lakh shares on offer.

Ideal Technoplast IPO, worth ₹16.03 crore, was a fixed price offer of a completely fresh issue of 13.25 lakh shares. Ideal Technoplast IPO price band was fixed at ₹121 per share.

Ideal Technoplast plans to use the money raised via the public issue for meeting capital expenditure requirements and for general corporate purposes.

Ideal Technoplast Industries Limited, established in 2012, is a manufacturer of rigid plastic packaging. The company provides its packing solutions to industries such as paints, agro, chemicals, cosmetics, and adhesives. As of March 31, 2024, the company employed 28 workers.