GSM Foils IPO is a fixed price issue of Rs 11.01 crores. The issue is entirely a fresh issue of 34.4 lakh shares.
GSM Foils IPO opens for subscription on May 24, 2024 and closes on May 28, 2024. The allotment for the GSM Foils IPO is expected to be finalized on Wednesday, May 29, 2024. GSM Foils IPO will list on NSE SME with tentative listing date fixed as Friday, May 31, 2024.
GSM Foils IPO price is ₹32 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹256,000.
Shreni Shares Limited is the book running lead manager of the GSM Foils IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for GSM Foils IPO is Shreni Shares.
Refer to GSM Foils IPO RHP for detailed information.
GSM Foils IPO Details
| IPO Date | May 24, 2024 to May 28, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹32 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 3,440,000 shares (aggregating up to ₹11.01 Cr) |
| Fresh Issue | 3,440,000 shares (aggregating up to ₹11.01 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,371,649 |
| Share holding post issue | 12,811,649 |
| Market Maker portion | 176,000 shares Shreni Shares |
GSM Foils IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
GSM Foils IPO Timeline (Tentative Schedule)
GSM Foils IPO opens on May 24, 2024, and closes on May 28, 2024.
| IPO Open Date | Friday, May 24, 2024 |
| IPO Close Date | Tuesday, May 28, 2024 |
| Basis of Allotment | Wednesday, May 29, 2024 |
| Initiation of Refunds | Thursday, May 30, 2024 |
| Credit of Shares to Demat | Thursday, May 30, 2024 |
| Listing Date | Friday, May 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 28, 2024 |
GSM Foils IPO Lot Size
Investors can bid for a minimum of 4000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹128,000 |
| Retail (Max) | 1 | 4000 | ₹128,000 |
| HNI (Min) | 2 | 8,000 | ₹256,000 |
| Lot Size Calculator | |||
GSM Foils IPO Promoter Holding
The company’s Promoters are Mr. Sagar Girish Bhanushali and Mr. Mohansingh L Parmar.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 73.14% |
About GSM Foils Limited
Incorporated in April 2019, GSM Foils Limited manufactures Blister Foils and Aluminium Pharma Foils, also known as “Strip Foils,” used for packaging pharmaceutical medicines such as capsules and tablets. These foils are primary packaging materials that come into direct contact with the medicine, so utmost care is taken to ensure their quality.
The company has established a manufacturing facility at Sapphire Building in Thane, Vasai, Maharashtra, covering an area of 7,973 square feet across the ground plus 3 floors. The manufacturing facilities are fully equipped with tools, machinery, and amenities necessary to support seamless manufacturing processes, hassle-free production, quality testing, research, storage, and packaging.
The company is ISO 9001:2015 certified company.
The company has a presence across India with clients in 13 states and 1 Union territory in the domestic market.
As of February 28, 2024 the company has 39 employees on payroll basis.
GSM Foils Limited Financial Information (Restated)
GSM Foils Limited’s revenue decreased by -8.3% and profit after tax (PAT) rose by 124.62% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,208.18 | 1,438.18 | 1,050.65 | 720.57 |
| Revenue | 2,717.87 | 6,588.69 | 7,185.04 | 3,646.23 |
| Profit After Tax | 124.79 | 142.97 | 63.65 | 33.93 |
| Net Worth | 126.99 | 835.73 | 659.06 | 657.82 |
| Reserves and Surplus | 124.79 | |||
| Total Borrowing | 1,412.95 | 242.43 | 219.20 | |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of GSM Foils IPO is Rs 41 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 23.62% |
| ROCE | 1.60% |
| Debt/Equity | 11.13 |
| RoNW | 98.27% |
| P/BV | 1.27 |
| PAT Margin (%) | 4.59 |
Check GSM Foils IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.53 | 1.3 |
| P/E (x) | 20.98 | 24.64 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (GSM Foils IPO Objectives)
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding of capital expenditure towards the purchase of Plant and Machineries.
- Funding Working Capital Requirements of the company.
- General corporate purposes.
GSM Foils IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive segment that also faces volatility in commodity prices. The company has posted inconsistency in its top and bottom lines. Based on FY24 annualized earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium to long term. Read detail review…
GSM Foils IPO Prospectus
GSM Foils Limited Contact Details
GSM Foils Limited
Gala No 06/106/206/306, Sapphire Building
Diamond Industrial Estate, Vasai East IE,
Thane- 401208
Phone: +9184689 68102
Email: investors@gsmfoils.com
Website: https://www.gsmfoils.com/
GSM Foils IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html