Spunweb Nonwoven: Spunweb Nonwoven shares get listed at 57% premium!Spunweb Nonwoven: Spunweb Nonwoven shares get listed at 57% premium!

Spunweb Nonwoven shares debuted at ₹151 on the NSE SME on Monday, July 21, offering a significant 57% premium over the IPO price of ₹96. Following the strong listing, the stock surged further, hitting its upper circuit amid strong investor demand.

Also Read: Infra stock jumps 3% after receiving multiple orders worth ₹756 Cr

Spunweb Nonwoven’s IPO saw overwhelming demand, getting subscribed 251.32 times overall by day three. Individual investors subscribed 251.84 times, QIBs 165.43 times, and Non-Institutional Investors (NIIs) led with a 364.58 times subscription.

The objective of Spunweb Nonwoven’s IPO was to raise funds for working capital requirements, general corporate purposes, and to meet public issue expenses, supporting the company’s expansion and operational efficiency in the non-woven fabric industry.

Also Read: Q1 Results: Oil stock falls 7% after reporting ₹270 Cr loss against net profit of ₹73 Cr an yr ago

Spunweb Nonwoven Ltd, established in 2015, manufactures high-quality non-woven fabrics used in doormats, bags, and tarpaulins. With advanced testing facilities, it exports globally, serving hygiene, medical, packaging, agriculture, and construction sectors, with a focus on quality and innovation.

Stay Ahead with the Latest Stock Market Updates – Click Here

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.