GM Polyplast IPO opens on September 28th
The initial public offering (IPO) of GM Polyplast in the small and medium enterprise segment will open for subscription on September 28th. The issue price fixed at Rs. 160 per share. Whereas the company will raise Rs. 8.09 crores through a public issue. Of the 5.06 lakh shares in the public issue, 3.2 lakh shares (Rs. 5.12 crores) are up to date and the promoters have offered to sell 1.86 lakh shares (Rs. 2.97 crores).
This issue contains 26,000 equity shares, which reserved for the market maker. The offer, which stands at 26.35 percent of the company’s post-offer paid-up equity capital, expires on October 6th.
GM Polyplast is engaged in the manufacture of HIPS, ABS & PET sheets, as well as the raw material used to make the sheets called granules. The Company utilizes the latest issue of income for working capital requirements and general corporate purposes.
Dinesh Balbir Singh Sharma and Sarita Dinesh Sharma are the promoters of the company. One can bid for at least 1,000 equity shares and then in multiples of 1,000 shares. Equity shares listed on the BSE SME platform.
Gretex Corporate Services Lead Manager and Registrar for the Big Share Services Issue.