- GSM Foils IPO Allotment Update: After receiving a stellar response from investors during the bidding period from May 24 to May 28, attention now turns to the allotment procedure for the GSM Foils IPO.
- With oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis.
- “The allotment for the GSM Foils IPO is expected to be finalised today. Investors can monitor their allotment status through the registrar, Bigshare Services Pvt. Ltd.”
Stay updated with the latest on GSM Foils IPO allotment, including steps to check your status and key details about the company and its IPO.
Steps to Check GSM Foils IPO Allotment Status
If you have applied for the GSM Foils IPO, you can check your allotment status on the website of the IPO registrar, Bigshare Services Pvt. Ltd.
Step-by-Step Guide
Step 1: Visit the IPO registrar’s website at this link: Bigshare Services Pvt. Ltd.
Step 2: Select ‘GSM Foils’ in the ‘Company Selection’ dropdown menu.
Step 3: Choose among the application number, beneficiary ID, or PAN.
Step 4: Enter the details as per the option selected.
Step 5: Enter the Captcha and hit the ‘Search’ option.
Your GSM Foils IPO allotment status will be displayed on the screen.
About GSM Foils
GSM Foils manufactures blister foils and aluminum pharmaceutical foils, also known as “strip foils,” which are used for packaging pharmaceutical products like capsules and tablets.
As primary packaging materials that come into direct contact with the medicine, these foils are produced with the highest quality standards, the company said in its DRHP report.
It operates a manufacturing facility located in the Sapphire Building in Thane, Vasai, Maharashtra, spanning 7,973 square feet across four floors. This facility, according to the company, is fully equipped with the necessary tools, machinery, and amenities to ensure seamless manufacturing processes, efficient production, thorough quality testing, research, storage, and packaging.
GSM Foils IPO Details
The GSM Foils IPO comprises a fresh issue of 34.6 lakh shares, with a total issue size of ₹11 crore. The IPO price is set at ₹32 per share. The company plans to utilise the proceeds from the IPO to fund capital expenditures for purchasing plant and machinery, working capital requirements, and general corporate purposes.
GSM Foils Subscription Status
GSM Foils IPO has received a tremendous response from all investors, as it has been subscribed to 257.30 times. Notably, the retail portion was subscribed to 247 times, while the non-institutional investor (NII) portion was subscribed to 259.29 times.
The company has received bids for 83,982,24,000 shares against 32,64,000 shares on offer, according to data on chittorgarh.com.
Conclusion
The GSM Foils IPO has garnered significant interest, reflecting strong investor confidence. As the allotment process concludes, investors eagerly await the listing on the NSE SME platform. This IPO not only highlights GSM Foils’ market potential but also sets a precedent for future SME IPOs. Investors are advised to stay informed and consult with financial advisors for any investment decisions.
