Spinaroo Commercial share price makes a lukewarm debut, stock opens with a mere 3.63% premium at ₹52.85 apiece

Spinaroo Commercial share price made a positive debut on BSE SME today. Spinaroo Commercial share price today opened at ₹52.85, which is 3.63% higher than the issue price of ₹51.

Spinaroo Commercial IPO commenced for subscription on Friday, March 28, and concluded on Thursday, April 3. The IPO price range has been set at ₹51 per equity share, with a face value of ₹10 each. Bids are allowed for a minimum of 2,000 equity shares and can be made in multiples of 2,000 equity shares thereafter.

Established on August 17, 2012, Spinaroo Commercial Limited focuses on manufacturing aluminum foil containers, aluminum household foil, paper cups, paper plates, paper bowls, and semi-processed materials for paper cups, including paper coating, printing, and blanking.

The company also offers a range of machinery related to paper cup manufacturing, such as high-speed paper cup-making machines, flexo printing machines, and automatic roll die-cutting machines, providing comprehensive end-to-end solutions.

Spinaroo supplies a wide variety of high-quality products made from premium raw materials. These products are manufactured under expert supervision, ensuring excellent performance, competitive pricing, and timely delivery to meet customer demands.

As stated in the Prospectus, there are no publicly listed companies in India that entirely match their business model. Therefore, the company has opted not to provide a comparison with the industry for their business.

Spinaroo Commercial IPO details

Spinaroo Commercial IPO consists of a fresh issue of 19,94,000 equity shares, aggregating to ₹10.17 crore. There's no offer for sale (OFS) component.

The Spinaroo Commercial IPO intends to use the net proceeds from the offering for various purposes, such as working capital requirements and general corporate expenses.

Finshore Management Services Limited is the primary book-running manager for the Spinaroo Commercial IPO, while Cameo Corporate Services Limited serves as the registrar for this offering. Black Fox Financial Private Limited operates as the market maker for the Spinaroo Commercial IPO.

Spinaroo Commercial IPO GMP today

Spinaroo Commercial IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹51 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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