Premium Plast’s shares debuted on the NSE SME on October 28 at a modest 5% premium over the price of their initial public offering (IPO). In contrast to the offer price of Rs 49 per share, Premium Plast’s stock was launched on the NSE SME Emerge platform at Rs 51.45 per share, representing a 5% premium.
The shares of Premium Plast were fetching a GMP in the area of Rs 9, which indicates an 18 percent premium, according to several platforms that follow grey market premium activity. However, the listing price did not meet the expectations in the unofficial market.
In the first fifteen minutes following the start of trading, 16.17 lakh business shares were exchanged on the NSE. ₹8.25 crore was the entire trade value. The overall market value of the company was 93.38 crore rupees.
Premium Plast IPO details
The value of Premium Plast’s IPO was ₹26.2 crore. 53.46 lakh shares were issued in a new offering as part of the book-built issue. The issue’s price range was set between ₹46 and ₹49 per share.
For applications from retail investors, the minimum lot size was set at one lot, or 3,000 shares, totaling ₹1,47,000 in investment. The three-day bidding for the Premium Plast IPO, which began on Monday, October 21, and ended on Wednesday, October 23, was booked 38.92 times. In contrast to the 50.76 lakh shares available for subscription, bids were made for almost 19.75 crore shares by investors from all categories.
About the Company – Premium Plast Limited
Established in 1995, Premium Plast Limited designs, produces, and sells plastic components for the exterior, interior, and hood of commercial vehicles directly to automakers. For a broad range of markets and uses, Premium Plast produces a variety of injection and blow-molded plastic components. Automotive parts, industrial plastic parts, and packaging components utilized in various industries are among the company’s product offerings. In three cutting-edge, well-located factories in India, Premium Plast, a manufacturer of automobile parts, produces more than 600 components.
