Premium Plast IPO subscribed nearly 39 times, retail portion booked 65x on day 3; check allotment and listing date

Premium Plast Limited IPO continued to see strong demand across investor categories on the third and last day of bidding on Wednesday, October 23. The NSE SME issue was booked nearly 39 times led by retail investors.

The NSE SME issue received bids for more than 19.75 crore shares compared to the 50.76 lakh shares on offer, leading to an overall subscription of 38.92 times, according to NSE data.

Premium Plast IPO saw the highest demand in the retail category. The retail portion was booked 65.36 times, with applications for more than 14.92 crore shares against 22.83 lakh shares set aside for the category.

The Non-Institutional Investors (NIIs) booked their portion 17.51 times with bids for nearly 4 crore shares against 22.83 lakh shares reserved for the category.

The Qualified Institutional Buyers(QIBs) subscribed to their quota 6.73 times by applying for 34.35 lakh shares against 5.1 lakh shares set aside for them.

Premium Plast IPO issue size, price band and lot size

Premium Plast IPO is a book-building issue worth ₹26.2 crore. The NSE SME public offer comprises an entirely fresh issue of 53.46 lakh shares.

Premium Plast IPO price band has been fixed at ₹46 to ₹49 per share. The minimum application size for retail investors is a single lot of 3,000 shares, aggregating to an investment of ₹1,47,000.

Premium Plast IPO share allotment status and listing date

Premium Plast IPO opened for subscription on Monday, October 21. The three-day bidding window will close on Wednesday, October 23. Premium Plast IPO share allotment status will likely be finalised on Thursday, October 24.

Once the allotment of shares is completed, refunds will be initiated for unsuccessful bidders on Friday, October 25, and successful bidders will receive shares of Premium Plast Limited in their Demat accounts the same day.

Shares of Premium Plast will be listed on the NSE SME platform, Emerge. The IPO listing date has been tentatively scheduled on October 28.

Premium Plast IPO registrar

The lead manager for the Premium Plast IPO book running is Khandwala Securities Limited. Bigshare Services Pvt Ltd is the registrar for the NSE SME issue, and Asnani Stock Broker is the market maker.

Premium Plast IPO objective

The company plans to use the money raised via the initial public offering to expand its existing manufacturing facility in Pithampur, Madhya Pradesh. A portion of the proceeds will also be used to purchase machinery and set up a rooftop grid solar power plant at the company’s Pithampur unit. The company will also use the funds to repay its outstanding borrowings, for general corporate purposes, and for offer-related expenses.

About Premium Plast Limited

Premium Plast Limited was founded in 1995. The company designs, manufactures, and supplies plastic automotive components to vehicle manufacturers. Its product portfolio consists of automotive parts, industrial plastic parts, and packaging components. As of June 30, 2024, the company employed 39 workers.