IPO GMP | Cheap IPO will open for investment, share price band ₹ 49, strong earnings on first day – GMP IPO
IPO GMP | In the last one year, many IPOs have been giving big returns on the first day. Many IPO stocks have delivered multibagger returns to investors in a single day. Therefore investors are waiting for the new IPO. Now there is some good news for IPO investors.
IPO share price band
The IPO of Premium Plast Limited Company can be subscribed from Monday, October 21, 2019. It will close on Wednesday, October 23. The price band for Premium Plast Limited Company IPO has been fixed at Rs 46-49. The face value of this equity share is Rs 10. Investors will have to bid for at least 3,000 equity shares in Premium Plast Limited Company IPO. The IPO of Premium Plast Limited Company includes a total of 5,346,000 equity shares worth Rs 26.20 crore. The IPO of Premium Plast Limited Company does not have an OFS component. Khandwala Securities Limited Company Books Running Lead Manager for Premium Plast Limited Company IPO. BigShare Services Private Limited Company has also been appointed as the Registrar for Premium Plast Limited Company IPO.
Where will the company use the money?
Asnani Stockbroker Company has been appointed as the market maker for the IPO of Premium Plast Limited Company. Premium Plast Ltd said it will use the proceeds from the offer to expand its existing manufacturing project in Pithampur, Madhya Pradesh and purchase new machinery. The funds raised from Premium Plast Limited Company IPO will be used to meet the cost of installing a rooftop grid solar power plant at the existing production facility and other corporate purposes.
Grey-market status
According to media reports, the GMP of Premium Plast Limited Company IPO is currently available at a premium of Rs 5. Considering the price band of Premium Plast Limited Company IPO and the existing premium in the gray market, the estimated listing price of Premium Plast Limited Company IPO share is Rs 54 per share, which is 10.2% higher than the IPO price of Rs 49.
Information about company
Premium Plast Limited operates as an automotive component provider to parent equipment manufacturers. The company's products include production and supply of external plastic components, internal cabin components and commercial vehicles for OEM.
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