Fri Oct 25 05:40:44 UTC 2024: Here are the key points from the news article regarding the Premium Plast IPO:

1. **IPO Allotment and Listing**: The share allotment for Premium Plast’s IPO is expected to be finalized on October 24, 2024, with shares to be listed on the NSE SME platform (Emerge) tentatively scheduled for October 28.

2. **Strong Demand**: The IPO was heavily oversubscribed, booking nearly 39 times overall, driven by high retail investor demand. It received bids for over 19.75 crore shares against the 50.76 lakh shares offered.

3. **Investor Categories**:
– **Retail Investors**: Their portion was subscribed 65.36 times, receiving applications for more than 14.92 crore shares against 22.83 lakh shares allocated for them.
– **Non-Institutional Investors (NIIs)**: Their segment was booked 17.51 times, with bids for nearly 4 crore shares.
– **Qualified Institutional Buyers (QIBs)**: They subscribed their quota 6.73 times, applying for 34.35 lakh shares.

4. **IPO Details**:
– The issue is valued at ₹26.2 crore, consisting of 53.46 lakh fresh shares, with a price band set at ₹46 to ₹49 per share.
– The minimum application size for retail investors is 3,000 shares, totaling an investment of ₹1,47,000.

5. **Use of Funds**: Premium Plast plans to use the proceeds from the IPO to expand its existing manufacturing facility, purchase machinery, set up a rooftop solar power plant, repay outstanding debt, and meet general corporate needs.

6. **Company Background**: Founded in 1995, Premium Plast designs and manufactures various plastic components for the automotive industry. As of June 30, 2024, the company employed 39 people.

7. **Process Timeline**:
– Refunds for unsuccessful bidders will be processed on October 25, and successful bidders will receive shares in their Demat accounts on the same day.

8. **Manager and Registrar**: Khandwala Securities Limited is the lead manager for the IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

These points capture the essential information regarding the IPO’s performance, investor interest, and subsequent processes.

Read More