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2 min read | Updated on April 01, 2025, 10:18 IST
SUMMARY
Spinaroo Commercial IPO is a fixed-price issue of ₹10.17 crore. It is entirely a fresh issuance of 19.94 lakh shares. Shares in the IPO are being offered at ₹51 apiece in a lot size of 2,000 units.
Spinaroo Commercial is engaged in the manufacturing of aluminum foil containers. | Image: Pixabay
Aluminium foil containers manufacturer Spinaroo Commercial's initial public offer has been subscribed 20% until 3:44 pm on Tuesday, the second day of bidding.
The retail quota was booked 35%, while the non-institutional investors (NIIs) subscribed 5% of their allocated portion.
For high-net-worth individuals, the least investment is 4,000 shares worth ₹2,04,000.
Funds to the tune of ₹7.12 crore will be used for working capital requirements and ₹2 crore for corporate general expenses.
Event | Date |
---|---|
IPO subscription period | March 28 to April 3 |
Basis of allotment | April 4 |
Initiation of Refunds | April 7 |
Credit of Shares to Demat | April 7 |
Listing date | April 8 |
The issue's sole book-running lead manager is Finshore Management Services Ltd, while Cameo Corporate Services Ltd is the registrar.
Spinaroo Commercial is engaged in the manufacturing of aluminum foil containers, paper cups, paper plates, and related machinery. It also deals in a wide range of paper cup-related machinery, such as flexo printing machines, high-speed paper cup-making machines, and automatic roll dye cutting machines with full end-to-end support.
The company has clients spread across 12 states and two union territories. It also has a presence in Bhutan.
The firm's revenue from operations declined 22.52% to ₹41.21 crore in the financial year 2023-24 as against ₹53.19 crore in the previous fiscal.
The net profit increased 50.53% to ₹1.4 crore in FY24, compared to ₹93 lakh in FY23.
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