Spinaroo Commercial IPO Listing : Spinaroo Commercial’s Rs 10.17 crore IPO was open for subscription from March 28 to April 3. Today its shares have been listed.
Spinaroo Commercial IPO Listing
Spinaroo commercial, a paper cup-plate maker, today entered the BSE SME at a premium price. Its IPO had received an overall bid of 1.52 times. Under the IPO, the shares were released at a price of Rs 51. Today, it entered at Rs 52.85, meaning that IPO investors got a listing gain of 3.63 per cent. Shares climbed further after the listing. It jumped to the upper circuit of Rs 55.00 (Spinaroo Commercial share Price), meaning that IPO investors are now 7.84 per cent profitable
How will the money from Spinaroo Commercial IPO be spent?
Spinaroo commercial’s Rs 10.17 crore IPO was open for subscription from March 28 to April 3. This IPO was subscribed 1.52 times overall. It filled half the share reserved for retail investors 1.2 times. Under this IPO, 10 lakh new shares with a face value of Rs 19.94 lakh have been issued. Of the funds raised through these shares, Rs 7.13 crore will be spent on working capital needs and the rest on common corporate objectives
About Spinaroo Commercial
Spinroo commercial, formed in August 2012, manufactures semi-processed materials for aluminum foil containers, aluminum home foil, paper cups, paper plates, paper bowls and paper cups. It manufactures machinery associated with paper cups such as high-speed paper cup making machine, flexo printing machine and automatic roll die-cutting machine.
Speaking of the financial health of the company, it has steadily strengthened. In FY 2022, it had a net profit of Rs 5.2 lakh which jumped in the next FY 2023 to Rs 9.3 lakh and in FY 2024 to Rs 1.4 crore. However, the company’s revenue fluctuated during this time. In FY 2022, it received revenue of Rs 47.58 crore, in FY 2023, Rs 53.19 crore and in FY 2024, Rs 41.21 crore. In the last financial year 2024-25, in the first half of April-September 2024, it had net profit of Rs 6.1 lakh and revenue of Rs 21.02 crore
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