GSM Foils IPO opens for subscription today: Dates, price band and other details - Hindustan Times
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GSM Foils IPO opens for subscription today: Dates, price band and other details

By | Edited by Mallika Soni
May 24, 2024 10:02 AM IST

GSM Foils IPO closes on May 28. The allotment is expected to be finalized on May 29 and the issue will list on NSE SME likely on May 31.

GSM Foils IPO: The initial public offering (IPO) of GSM Foils Ltd opens for subscription today (May 24). Through the issue which will close for bidding on May 28, the company aims to raise 11 crore. GSM Foils manufactures blister foils and aluminium pharma foils used for packaging pharmaceutical medicines.

GSM Foils IPO: Through the issue which will close for bidding on May 28, the company aims to raise <span class='webrupee'>₹</span>11 crore.
GSM Foils IPO: Through the issue which will close for bidding on May 28, the company aims to raise 11 crore.

GSM Foils IPO price band

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The price band of the IPO is 32 per share for the face value of 10 per share. The issue is entirely a fresh issue of 34.4 lakh shares. The minimum lot size for an application is 4,000 shares while the minimum amount of investment required by retail investors is 128,000 and the minimum lot size investment for HNI is two lots (8,000 shares).

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GSM Foils IPO key dates

The IPO opens for subscription on May 24 and closes on May 28. The allotment is expected to be finalized on May 29 and the issue will list on NSE SME likely on May 31.

Read more: Awfis Space Solutions IPO opens: Latest GMP, price band and key details

GSM Foils IPO registrar

The book running lead manager of the IPO is Shreni Shares while Bigshare Services Pvt Ltd is the registrar for the issue.

GSM Foils IPO objectives

Read more: Virat Kohli-backed Go Digit debuts at 5% premium over IPO price

Net proceeds from the IPO will be used by the company for funding of capital expenditure towards the purchase of plant and machineries, working capital requirements and general corporate purposes, it said.

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