Explore the details of Swashthik Plascon IPO, a book-built issue with a fresh offering of 4,739,200 shares. Get insights into the pricing, subscription status, and the company’s profile.
Swashthik Plascon, a specialist in PET bottle and preform production, is set to launch its Initial Public Offering (IPO) as a book-built issue, aiming to raise Rs 40.76 crores. This article delves into the key aspects of the IPO, offering a comprehensive guide for potential investors.
Swashthik Plascon IPO Details
Swashthik Plascon IPO Date: November 24, 2023 to November 29, 2023.
Listing Date: [.]
Face Value: ₹10 per share
Price Band: ₹80 to ₹86 per share
Lot Size: 1600 Shares
Total Issue Size: 4,739,200 shares
Fresh Issue: 4,739,200 shares
Issue Type: Book Built Issue IPO
Listing At: BSE SME
Shareholding Pre-Issue: 12,824,795
Shareholding Post-Issue: 17,563,995
Market Maker Portion: 238,400 shares (Nikunj Stock Brokers)
Subscription and Allocation
The Swashthik Plascon IPO offers 4,739,200 shares, with allocations as follows:
- Anchor Investors: 1,348,800 shares (28.46%)
- Market Maker: 238,400 shares (5.03%)
- QIB: 900,800 shares (19.01%)
- NII (HNI): 675,200 shares (14.25%)
- Retail: 1,576,000 shares (33.25%)
Anchor Investors’ Support
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The IPO secured Rs 11.60 crores from anchor investors during the bidding on November 23, 2023. The anchor lock-in period for 50% shares is until January 16, 2024, and for the remaining shares, it extends until April 9, 2024.
Swashthik Plascon IPO Timeline
- IPO Opens: November 24, 2023
- IPO Closes: November 29, 2023
- Basis of Allotment: December 4, 2023
- Refunds Initiated: December 5, 2023
- Shares Credited to Demat: December 6, 2023
- Listing Date: December 7, 2023
Lot Size and Investment
Investors can bid for a minimum of 1600 shares, with the following investment range:
- Retail (Min): 1 lot (1600 shares, ₹137,600)
- Retail (Max): 1 lot (1600 shares, ₹137,600)
- HNI (Min): 2 lots (3,200 shares, ₹275,200)
Company Profile
Founded in June 2006, Swasthik Plascon specializes in producing PET bottles and preforms for various applications. The company’s commitment to quality is evident through its in-house testing lab and rigorous quality checks.
Financial Snapshot
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As of September 30, 2023, Swasthik Plascon reported total assets of ₹11,416.09 Lakhs and a Profit After Tax of ₹528.48 Lakhs. The market cap is Rs 151.05 Crores, with a P/E ratio of 17.23.
Objects of the Issue
The net proceeds from the IPO will be utilized for:
- Funding capital expenditure
- Set up of Solar Power Plant
- Purchase of Plant and Machinery
- Working Capital Requirements
- General corporate purposes
Expert Review and Subscription Status
[Dilip Davda], in a review, suggests cautious consideration due to the competitive market. The IPO subscription status, as of November 24, 2023, indicates an overall subscription of 0.47 times.
Conclusion
Swashthik Plascon IPO presents an enticing opportunity for investors seeking exposure to the PET bottle and preform segment. With a robust financial position and strategic objectives, the IPO is poised to make its mark in the market. As always, potential investors are advised to conduct thorough due diligence before making investment decisions.
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