Spinaroo Commercial is coming up with an IPO with a fresh issue of 19,94,000 shares worth INR 10.17 crores. The company aims to meet the working capital, and meet general corporate purposes. 

Spinaroo Commercial IPO – Important Dates

Read more about Spinaroo Commercial Limited IPO GMP

Spinaroo Commercial Limited IPO – Company Profile

Spinaroo Commercial Limited is engaged in the manufacturing of Aluminium Foil Container, Aluminium Home Foil, Paper Cups, Paper Plates, Paper Bowls, Semi Processed Material for Paper Cups viz. paper coating, printing, blanking etc. 

They also deal with a wide range of paper cup-related machinery like high-speed paper cup-making machines, Flexo printing machines, automatic roll die cutting machines, etc., with full end-to-end support. 

The paper cup-making machines are procured from reputable and trusted vendors within the industry, who ensure the highest quality standards. These certified vendors utilise state-of-the-art machines and tools to manufacture products that meet specific client requirements.  

Spinaroo Commercial Ltd IPO Fundamental Analysis

• Revenue Trend: The revenue decreased from ₹5,312.50 lakhs in March 2023 to ₹4,083.68 lakhs in March 2024. The revenue for the current year’s 6-month period ending September 2024 is INR 2,101.50 lakh. 
• Equity and Liabilities: Equities have shown a consistent increase over the periods, reflecting potential growth and expansion. The debt equity ratio has consistently reduced, indicating financial stability.
• Profitability: The profit after tax (PAT) increased from ₹ 93.06 lakh in March 2023 to ₹140.05 lakh in March 2024, boosting investor confidence. The profit for the period ending September 2024 is ₹61.48 lakh. 
• Earnings per Share (EPS): The diluted EPS increased from ₹1.86 in March 2023 to ₹2.80 in March 2024, reflecting higher earnings per share for investors. The diluted EPS for the period ending September 2024 is ₹1.23. 
• Return on Net Worth (RoNW): The RoNW has increased from 14.03% to 23.23%, indicating an increase in the company’s ability to generate returns on shareholder equity. 
• Financial Position: Total assets have increased, suggesting potential business growth. However, the current ratio has increased, indicating strengthening liquidity and potential challenges in meeting short-term obligations. 

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Spinaroo Commercial IPO Financial Analysis

Spinaroo Commercial Limited IPO Peer Comparison

There are no publicly listed companies in India with a business model exclusively similar to that of Spinaroo Commercial Limited. Therefore, an industry comparison for the company can’t be provided. 

Spinaroo Commercial Ltd IPO Objective

Spinaroo Commercial plans to utilise INR 7.13 crores for working capital needs and allocate the remaining funds for general corporate purposes, including strategic initiatives, acquisitions, branding, and facility upgrades.

1. To meet the working capital requirements: The business of the company is working capital intensive.  The company expects the working capital requirement to increase in the future. For the said purpose, the company plans to utilise INR 7.13 crores from the net proceeds. 

2. General Corporate Purpose: The company will deploy the remaining amount for general corporate purposes, including strategic initiatives, partnerships, acquisitions, branding, marketing, facility upgrades, client referrals, and other business needs.

Spinaroo Commercial IPO Risks And Challenges

Spinaroo Commercial faces sustained negative cash flow risks, intense competition affecting margins, and heavy reliance on a few customers, where losing key clients could significantly impact business operations and profitability.

1. The company had negative cash flow in recent fiscals. Sustained negative cash flow could adversely impact the business.

2. The company faces significant competition in the business. An inability to compete effectively may lead to a lower market share or reduced operating margins.

3. A substantial portion of the revenues has been dependent upon a few customers. The loss of any one or more of the major customers would have a material effect on the business operations and profitability. 

Spinaroo Commercial Ltd IPO – Industry & Market Potential

India is an attractive hub for foreign investments in the manufacturing sector. Several mobile phone, luxury, and automobile brands, among others, have set up or are looking to establish their manufacturing bases in the country. The manufacturing sector of India has the potential to reach US$ 1 trillion by 2025.

The corridors would further assist in integrating, monitoring, and developing a conducive environment for industrial development and will promote advanced practices in manufacturing.

Spinaroo Commercial Limited IPO – Type of Offer

Spinaroo Commercial is launching an IPO with a fresh issue of 19,94,000 shares worth INR 10.17 crores to fund working capital and support general corporate purposes.

Spinaroo Commercial IPO Offer Size

The offer size is INR 10.17 crores, comprising a fresh issue of 19,94,000 shares. Spinaroo Commercial aims to meet working capital requirements and general corporate purposes.

Spinaroo Commercial Limited IPO Allotment Structure

Spinaroo Commerical Limited’s allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 1,00,000 shares for Market Makers. 

• Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs. 

• Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs. 
• Market Makers Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 1,00,000 shares for this purpose. 

How to apply for the Spinaroo Commercial IPO?

To apply for the Spinaroo Commercial Limited IPO through Alice Blue, follow these steps:

Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.

1. Check for IPO Details: Once your account is active, you can check for the Spinaroo Commercial Limited IPO details in the IPO section of the Alice Blue platform.
2. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
3. Submit the Application: Confirm all your details and submit your application.

 You can apply for the Spinaroo Commercial Limited IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How do you check Spinaroo Commercial Limited IPO Allotment Status?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Spinaroo Commercial Limited IPO: If you have applied for multiple IPOs, there might be a drop-down menu or a list where you can select the IPO you are interested in. Select the Spinaroo Commercial Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance. 

Apart from Alice Blue, there are other ways to check the allotment status of the Spinaroo Commercial Limited IPO:

● Registrar’s Website: Visit the website of Cameo Corporate Services Limited, the registrar of the Spinaroo Commercial Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status. 

● BSE SME: You can also check the allotment status on the official websites of the Bombay stock Exchange’s (NSE) Small Medium Exchange (SME) Platform. You would need your application number and PAN to check the status. 

Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.

Read more about Spinaroo Commercial Limited IPO Allotment Status

Spinaroo Commercial Limited Ltd IPO Offer Registrar

The registrar for the Spinaroo Commercial Limited IPO is Cameo Corporate Services Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar: 

Cameo Corporate Services Limited

“Subramanian Building”, No. 1, Club House Road, 

Chennai – 600 002

Email: ipo@cameoindia.com 

Website: www.cameoindia.com 

Spinaroo Commercial Limited SME IPO – FAQs