Spinaroo Commercial IPO has opened for subscription on Friday, March 28 and will close on Thursday, April 3. Spinaroo Commercial IPO price band has been fixed at ₹51 per equity share of face value of ₹10 each. Bids can be made for a minimum of 2,000 equity shares and in multiples of 2,000 equity shares thereafter.

Founded on August 17, 2012, Spinaroo Commercial Limited specializes in producing aluminum foil containers, aluminum household foil, paper cups, paper plates, paper bowls, and semi-processed materials for paper cups, which include paper coating, printing, and blanking.

The company also provides a variety of machinery related to paper cup production, such as high-speed paper cup-making machines, flexo printing machines, and automatic roll die-cutting machines, offering complete end-to-end solutions.

Spinaroo delivers an extensive selection of high-quality products crafted from top-grade raw materials. These items are produced under skilled supervision, ensuring outstanding performance, competitive pricing, and prompt delivery to fulfill client requirements.

According to the Prospectus, there are no publicly traded companies in India that operate with a business model that is entirely comparable to theirs. Consequently, the company has chosen not to present an industry comparison for their firm.

Spinaroo Commercial IPO Subscription Status

Spinaroo Commercial IPO subscription status is 16%, on day 1, so far. The retail portion was subscribed 3%, and NII portion and Qualified Institutions Buyers is yet to be booked.

At 16:44 IST, the company has received bids for 2,98,000 shares against 18,94,001 shares on offer, according to data on chittorgarh.com

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 aims to allocate the net proceeds from the offering for purposes including working capital needs and general corporate expenses.

Finshore Management Services Limited serves as the lead book-running manager for the Spinaroo Commercial IPO, while Cameo Corporate Services Limited acts as the registrar for this offering. Black Fox Financial Private Limited functions 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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