Spunweb Nonwoven IPO GMP: SME Issue Opens Today, Gets 8.40x Subscription On Day 1
Spunweb Nonwoven IPO GMP, Subsricpition Today: The GMP of the Spunweb Nonwoven IPO currently stands at 36.46%, indicating strong listing gains.
Spunweb Nonwoven IPO GMP Today: The initial public offering of Spunweb Nonwoven Ltd opened today, Monday, July 14. The price band of the NSE SME IPO, which aims to raise Rs 60.98 crore, has been fixed in the range of Rs 90 to Rs 96. On the first day of bidding on Monday, the issue received an 8.40 times subscription, garnering bids for 3,54,80,400 shares as against the 42,21,600 shares on offer.
The retail and NII participation stood at 13.36x and 8.06x, respectively.
The IPO's grey market premium currently stands at 36.46%, indicating strong listing gains.
The three-day IPO will be closed on July 16.
Spunweb Nonwoven Ltd, founded in 2015, manufactures and exports nonwoven fabrics used in hygiene, medical, packaging, agriculture, and construction sectors, with a strong focus on quality and advanced testing systems.
Spunweb Nonwoven IPO GMP Today
According to market observers, unlisted shares of Spunweb Nonwoven Ltd are currently trading at Rs 131 against its upper IPO price of Rs 96. It means a grey market premium or GMP of Rs 35, which is 36.46% over its issue price, indicating strong listing.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
The price band of the SME IPO has been fixed in the range of Rs 90 to Rs 96 apiece.
Its minimum lot size is 1,200. It means investors will have to apply for a minimum of 1,200 shares or in multiple thereof.
Retail investors require a minimum capital of Rs 2,16,000 to apply for the IPO.
The basis of allotment of the Spunweb Nonwoven IPO will be finalised on July 17.
Its shares will be listed on the NSE Emerge, July 21.
The IPO, which is a bookbuilding of Rs 60.98 crore, is entirely a fresh issue of 63.52 lakh shares.
Spunweb Nonwoven Ltd's revenue increased 47% and its profit after tax (PAT) rose 98% between the financial year ending with March 31, 2025 and March 31, 2024.
Vivro Financial Services Private Limited is the book-running lead manager of the Spunweb Nonwoven IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.The market maker for Spunweb Nonwoven IPO is Rikhav Securities Limited.
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