The GSM Foils IPO’s allotment process is currently the focus of attention, following an incredible response from investors during the bidding period that ran from May 24 to May 28.
GSM Foils IPO Allocation
It is anticipated that the allocation for the GSM Foils IPO will be completed today. Investors can use Bigshare Services Pvt. Ltd., the registrar, to keep track of their allotment status. Shares will be distributed proportionately to retail individual investors (RIIs) in the event of oversubscription in the retail category. On May 30, 2024, GSM Foils will start the application money reimbursement process for those who do not receive an allocation.
On the day after the refund procedure, allocated shares will also be credited to investors’ demat accounts. The shares of GSM Foils, an SME IPO, are expected to be offered on the NSE SME platform on May 31, 2024, at the latest.
Steps To Check Share Status
On the Bigshare Services Pvt. Ltd. website, the IPO registrar, you can verify your allotment status
- Click the following link to access the IPO registrar’s website: https://ipo.bigshareonline.com/ipo_status.html
- From the “Company Selection” drop-down menu, choose “GSM Foils.”
- Select the PAN, beneficiary ID, or application number
- Fill in the information based on the chosen option.
- Type in the Captcha and select “Search.”
The status of your GSM Foils IPO allotment will be shown on the screen.
GSM Foils
Pharmaceutical products like capsules and tablets are packaged using blister foils and aluminum pharmaceutical foils, commonly referred to as “strip foils,” which are produced by GSM Foils.
According to the company’s DRHP report, these foils are made in accordance with the highest quality standards as the major packaging materials that have direct contact with the medication.
Furthermore, it runs a 7,973-square-foot, four-story manufacturing plant in Thane, Vasai, Maharashtra, called the Sapphire Building. The company claims that this facility is completely furnished with all the equipment, amenities, and instruments required to guarantee flawless manufacturing procedures, effective production, careful quality testing, research, storage, and packing.
IPO Details And Subscription Status
The GSM Foils IPO consists of a new offering of 34.6 lakh shares, with ₹11 crore being the total issue amount. The price per share for the IPO is ₹32. The business intends to use the IPO proceeds to pay for working capital needs, capital expenditures for the purchase of equipment and plant, and other corporate reasons.
Moreover, the IPO has been subscribed to 257.30 times, demonstrating the amazing reaction it has gotten from all investors. Notably, there were 247 subscriptions for the retail section and 259.29 subscriptions for the non-institutional investor (NII) half.
Follow Us:
Youtube | Google News |
Igniteds is on YouTube; click here to subscribe for the latest videos and updates.
