Swashthik Plascon Limited IPO opens November 24, price band set at ₹80-86 per share

The company Swasthik Plascon is focused on producing PET preforms and bottles. They produce PET bottles for a range of uses, including household cleaning products, repellent dispensers, FMCG packaging, medicines, and alcohol. They also make PET preforms for juice, soft drink, and packaged drinking water bottles.

The company’s promoters are Parasmal Mahendra Kumar, Parasmal Ravindra Kumar, Parasmal Dharmendra Kumar, Misrilal Parasmal, P Umrao, Mahendrakumar Nirmala, R Asha Jain, and D Anita.

As per the RHP, Swashthik Plascon Limited IPO listed peer is Technopack Polymers Limited (P/E of 15.91).

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Swashthik Plascon IPO details

Swashthik Plascon Limited IPO, which is worth ₹40.76 crore, is completely a fresh issue of 4,739,200 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company intends to use the net proceeds of the offering to finance the following goals: financing capital expenditures for the establishment of new manufacturing facilities and the installation of equipment; financing the company’s capital expenditure requirements for the establishment of a solar power plant; financing the acquisition of equipment for the company’s current manufacturing facility; financing the company’s working capital requirements; and financing general corporate purposes.

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Bigshare Services Pvt Ltd is the registrar for the Swashthik Plascon IPO, and Shreni Shares Private Limited is the book running lead manager. Nikunj Stock Brokers is the market maker for the Swashthik Plascon IPO.

Swashthik Plascon Limited IPO GMP today

Swashthik Plascon IPO GMP today or grey market premium is +7. This indicated Swashthik Plascon share price today are trading at a premium of ₹7 in the grey market on Tuesday, according to investorgain.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 Swashthik Plascon share price was indicated at ₹93 apiece, which is 8.14% higher than the IPO price of ₹86.

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

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Updated: 21 Nov 2023, 04:38 PM IST