On the last day of bidding for the GSM Foils IPO, the issue was subscribed 257.30 times the amount available. Retail investors subscribed to the issue 247.10 times and other category investors subscribed 259.51 times, as per chittorgarh.com.
The subscription period for the SME IPO, a fixed price issue of Rs 11.01 crore, ended on May 28. This IPO involved a fresh issue of 34.4 lakh shares for Rs 32 per share. Investors could apply for a minimum of 4000 shares, requiring an investment of Rs128,000.
The allotment for GSM Foils IPO is expected to be finalised on Wednesday, May 29.
Investors can check GSM Foils IPO allotment status on the official website of Bigshare Services Pvt Ltd, the registrar for the issue.
Steps to check GSM Foils IPO allotment status on Bigshare Services
Visit the official website of Bigshare Services here: https://www.bigshareonline.com/ipo_Allotment.html
Select any one server to check your IPO Allotment Status.
Choose "GSM Foils Limited" from the list of companies.
In the Selection Type dropdown, choose either Application number, Beneficiary ID, or PAN ID.
Enter the required information, such as your application number, PAN (Permanent Account Number), or Beneficiary ID.
Complete the 'captcha' to verify that you are not a robot.
Finally, click the "Search" button to check your allotment status.
GSM Foils IPO Listing Date
GSM Foils Limited will be listed on the National Stock Exchange SME on Friday, May 31.
GSM Foils IPO Timeline (Tentative Schedule)
IPO Open Date: Friday, May 24.
IPO Close Date: Tuesday, May 28.
Basis of Allotment: Wednesday, May 29.
Initiation of Refunds: Thursday, May 30.
Credit of Shares to Demat: Thursday, May 30.
Listing Date: Friday, May 31.
Investors who received shares of the company will have their demat accounts credited on May 30. The refund procedure will begin on Thursday, as soon as the allotment is finalised.
About GSM Foils Limited
GSM Foils Limited, founded in April 2019, makes blister foils and aluminium pharma foils used for packaging medicines like capsules and tablets. Their product ranges from 0.020/ 0.025/ 0.030/ 0.040 micron for coated/ploy laminated/blister/printed foils. The company operates out of a facility in the Sapphire Building in Vasai, Maharashtra, which spans 7,973 square feet over four floors. This facility is fully equipped for production, quality testing, research, storage, and packaging. GSM Foils Limited is ISO 9001:2015 certified and serves clients in 13 states and 1 Union Territory across India.
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