C P S Shapers IPO opens tomorrow, check GMP, key dates to price band

C P S Shapers IPO consists of fresh issue of 6,00,000 equity shares aggregating to ₹11.10 crore. There’s no offer for sale (OFS) component. According to the company’s Red Herring Prospectus (RHP), they plan to use the gross proceeds to upgrade their existing IT software at their existing manufacturing facility and registered office, buy plant and machinery for their existing manufacturing facility, buy a commercial vehicle, fund capital expenditures for the purchase of a solar power system by our company, and repay or prepay, in full or in part, borrowings that their company has accessed.

C P S Shapers IPO’s basis of allotment of shares will be finalised on Tuesday, September 5 and the company will initiate refunds on Wednesday, September 6, while the shares will be credited to the demat account of allottees on Thursday, September 7. C P S Shapers share price is likely to be listed on NSE SME on Friday, September 8.

The promoters of the company are Abhishek Kamal Kumar and Rajendra Kumar.

C P S Shapers SME IPO’s lead manager is Shreni Shares Ltd, and the registrar is Bigshare Services Private Ltd.

According to RHP, the listed industry peers of the company are Page Industries Ltd, Lux Industries Ltd, Dollar Industries Ltd, K.P.R Mill Ltd, and Arvind Ltd. 

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On an FY23 basis, C P S Shapers Ltd is available at a PE of 11.28x. Page Industries Ltd., Lux Industries Ltd., Dollar Industries Ltd., K.P.R Mill Ltd., and Arvind Ltd. are all available at PE multiples of 78.85, 30.29, 41.65, 39.38, and 12.58, respectively.

C P S Shapers Ltd manufactures shapewear for men and women, such as V-Shapers, Saree Shapewear, Active Pants and ShapeX Denim. The company is well-known and recognised in the clothing industry by the brand name “Dermawear,” which stands for “Your Dress Is Shapewear” and the tagline “Shape up with Confidence.” The business has a sustainable business plan that allows it to distribute its items both online and offline.

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The company has posted good financial performance throughout the years, with profit scaling 56.7 percent on-year to ₹2.46 crore and revenue rising by 38 percent to ₹36.8 crore for the fiscal year that ended in March 2023.

C P S Shapers IPO GMP today or or grey market premium on Monday was +90 higher than the previous trading sessions. This indicates C P S Shapers share price were trading at a premium of ₹90 in the grey market on Monday, according to topsharebrokers.com

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Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of C P S Shapers share price is ₹275 apiece, which is 48.65% higher than the IPO price of ₹185.

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

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Updated: 28 Aug 2023, 07:26 PM IST