Premium Plast NSE-SME IPO of Rs. 26 Cr To Open On Oct-21; GMP Hints 10.20% Listing Premium

An IPO of Rs. 26.20 crores has been scheduled by Premium Plast Ltd., a well-known producer of plastic injection and blow mould components in India. In order to raise Rs. 26.20 cr (at the upper price band), the company is launching its initial book-building route IPO of 53,46,000 equity shares at Rs. 10 apiece.

Shares will be listed on the National Stock Exchange of India Limited's (NSE) Emerge Platform upon allocation.

The IPO is solely lead managed by Khandwala Securities Limited., and Bigshare Services Private Limited is the registrar of the issue. Asnani Stock Broker Private Limited is the market maker for the company.

October 21, 2024 is when the Premium Plast IPO subscription period commences and ends on October 23, 2024. On Thursday, October 24, 2024, the allotment for the Premium Plast IPO is anticipated to be completed. The Premium Plast IPO is scheduled to go public on NSE SME, with a scheduled listing date of Monday, October 28, 2024. Premium Plast has fixed Rs 46 to Rs 49 per share for the book-built issue.

Retail investors must deposit a minimum of Rs 147,000 considering the minimum lot size for an application is 3000 shares. For HNIs, the minimum lot size investment is two lots of 6,000 shares comprising a minimum investment of Rs 294,000.

The company made Rs 46.71 crore in sales in FY24. Net profit was Rs 4.77cr, while EBITDA reached Rs 6.45 cr. It displays ROE for FY24 at 28.90 and ROE at 28.01. The automotive components industry makes a 39.23cr contribution. Contribution from Industrial Plastic Parts was Rs 4.20cr. However, the revenue earned from moulded industrial packaging was Rs 3.26cr. The company has several awards and certifications in supply chain management and new product development.

Premium Plast was founded in November 1995 in Mumbai, and since then, it has grown from making two components to over 600 components at two key sites. The group at Premium Plast Limited specialises in producing a wide variety of plastic parts and components for use in the automotive, industrial, electrical, and specialised packaging sectors. With three manufacturing facilities positioned strategically throughout India, Premium Plast Ltd. can handle 1,975 MTPA of installed capacity, which is divided among more than 600 components that the company manufactures. Advanced injection and blow moulding methods are used to make exterior, interior, and under-the-hood components, which is where Premium Plast Ltd. excels.

With a focus on designing, producing, and supplying high-plastic parts to commercial vehicle original equipment manufacturers, the firm is one of the top Tier-1 suppliers of automotive components. The team at Premium Plast Limited specialises in producing a wide variety of plastic parts and components for use in the automotive, industrial, electrical, and specialised packaging sectors.

The latest GMP for the Premium Plast SME IPO remains Rs 5 as of October 16, 2024, 04:53 PM. The projected listing price of the Premium Plast SME IPO, considering an upper price band of Rs 49.00, is Rs 54 (upper price band + today's GMP). Therefore, it is anticipated that on Monday, October 28, 2024, the Premium Plast will debut on the NSE SME platform at an attractive listing premium of 10.20% over the issue price.