GSM Foils Makes Quiet Entry, Lists at IPO Price, Climbs 3% Post-Launch

GSM Foils had a quiet debut on the NSE SME, opening at ₹32. After a subdued start, its share price modestly rose by over 3% during the initial trading.
GSM Foils Makes Quiet Entry, Lists at IPO Price, Climbs 3% Post-Launch

GSM Foils experienced a subdued debut on the NSE SME, launching at its initial offering price of ₹32. Despite a quiet start, the share price of GSM Foils modestly increased by over 3% following its initial trading period.

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GSM Foils IPO, open from May 24 to 28, 2024 with a price of ₹32 per share and a face value of ₹10, had a lot size of 4,000 shares. It was oversubscribed 257.30 times by day 3, with retail at 247.10 and NII at 259.51 times.GSM Foils Limited specialises in producing Blister and Aluminium Pharma Foils for pharmaceutical packaging, providing various sizes and types tailored to client requirements. These foils protect medications from environmental damage and ensure hygienic sealing for unit-dose tablets. They maintain competitive prices and high quality, supported by advanced manufacturing, strong vendor relationships, and comprehensive in-house coating, laminating, and printing capabilities.GSM Foils Limited aims to invest INR 1.11 crore in plant and machinery, INR 7.06 crore for working capital, and INR 2.22 crore for general corporate purposes, ensuring production efficiency, business expansion, and operational growth.

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