Swashthik Plascon Limited made a strong entry into the stock market today, with its shares opening on the BSE SME platform at ₹120.10 (Rs 1 = $0.012), marking a significant 40% rise from the initial public offering (IPO) price of ₹86. The company's debut reflects robust investor confidence and a successful IPO that concluded last week.
During the subscription period, which ran from November 24 to November 29, Swashthik Plascon attracted considerable attention from investors, recording an overall subscription rate of 15.43 times by the third day. The demand was particularly strong among retail investors, who subscribed 13.58 times their allotted share, while non-institutional buyers showed an impressive appetite, subscribing 35.76 times. Qualified Institutional Buyers (QIBs) also participated actively with a subscription rate of 3.42 times.
The capital raised through this IPO, amounting to ₹407.6 million, is earmarked for several strategic initiatives:
- Establishing new manufacturing facilities.
- Setting up a solar power plant to support operations.
- Acquiring equipment for enhancing existing facilities.
- Addressing working capital requirements and other corporate expenses.
Shreni Shares Private Limited played a crucial role as the book-running lead manager for the IPO. Meanwhile, Bigshare Services Pvt Ltd was responsible for managing the registration processes effectively.
Nikunj Stock Brokers acted as the market maker for Swashthik Plascon's IPO, indicating positive investor sentiment with a grey market premium (GMP) of +15. This suggested an anticipated listing price close to ₹101 per share, which the company has comfortably surpassed on its first day of trading.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
animal movie effectLike 0