GSM Foils IPO: Check Issue Date, Price, Lot Size & Company Financial

IPO Details

Bidding Dates

23 May '24 - 27 May '24

Minimum Investment

₹1,28,000/1 Lot (4000 Shares)

Price Range

₹32

Maximum Investment

₹1,28,000/1 Lot (4000 Shares)

Retail Discount

Not Applicable

Issue Size

₹11.01 Cr

Investor category and sub category

Qualified Institutional Buyers (QIBs) | Non-Institutional Bidders (NIBs) | Retail Individual Bidders (RIBs) |

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

May 23, 2024

Closing Date

May 27, 2024

Basis of Allotment

May 28, 2024

Initiation of Refunds

May 29, 2024

Credit of Shares to Demat

May 29, 2024

Listing Date

May 30, 2024

Cut-off time for UPI mandate confirmation

May 27, 2024

About GSM Foils Limited

GSM Foils Limited was originally established as a Limited Liability Partnership (LLP) named "GSM Foils LLP" on April 5, 2019. It was converted into a private limited company on June 27, 2023, and subsequently became a public limited company on September 4, 2023. GSM Foils Limited specialises in manufacturing Blister Foils and Aluminium Pharmaceutical Foils, which are used primarily for packaging pharmaceutical medicines like tablets and capsules.

These foils protect medicines from environmental factors such as oxygen and moisture. The company offers a variety of foil products, including plain, printed, and alu-alu base foils.

GSM Foils Limited operates a well-equipped manufacturing facility in Vasai, Maharashtra, ensuring quality production and timely delivery. The company is ISO 9001:2015 certified and focuses on maintaining high standards. It sources raw materials from reliable suppliers across India and has a wide customer base in 13 states and one union territory.

Industry Outlook:

To sustain an 8-8.5% GDP growth rate, India must create 90 million non-farm jobs by 2030, with a net employment growth rate of 1.5% annually.
With the target of reaching US$ 1 trillion in exports by 2030, GSM Foils Limited can capitalise on new market opportunities.

GSM Foils Limited IPO Details

GSM Foils Limited IPO Dates

GSM Foils Limited IPO is a fixed price issue IPO that will open from May 24, 2024, to May 28, 2024. The IPO will be listed on NSE Emerge.

GSM Foils Limited IPO Price Band

GSM Foils Limited is a fixed-price issue IPO. The price per share is ₹32.

GSM Foils Limited IPO Lot Size

The lot size for GSM Foils Limited IPO is 1 lot of 4,000 shares, with a minimum investment of ₹1,28,000.

GSM Foils Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

The company intends to utilise the net proceeds from the issue for three main objectives. Firstly, a portion of the funds, amounting to ₹110.14 Lakhs, will be allocated towards funding capital expenditure for the acquisition of plant and machinery.
A portion of the net proceeds, totalling ₹705.66 Lakhs, will be earmarked to fund the company's working capital requirements.
The remaining balance of the proceeds will be allocated for general corporate purposes, with the goal of driving overall business growth and development.

Peer Details

The following are the listed peers of GSM Foils Limited:

Synthiko Foils Limited
MMP Industries Limited

How to Check the Allotment Status of the GSM Foils Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of GSM Foils Limited IPO

Registered office: Gala No 06/106/206/306, Sapphire Building, Diamond Industrial Estate, Vasai East IE, Thane, Maharashtra, India, 401208
Phone: +9184689 68102
E-mail:cs@gsmfoils.com

IPO Financials

Particulars	As at December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Revenue (in ₹ lakh)	2,717.87	6,588.69	7,185.04	3,646.23
Profit After Tax (PAT) (in ₹ lakh)	124.79	142.97	63.65	33.93
Cash and Cash Equivalents (in ₹ lakh)	41.26	49.10	41.11	77.40
Return on Net Worth (%)	8.10	13.26	7.25	5.16
Debt-Equity Ratio (x)	11.13	0.29	0.33	NA
Return on Equity (%)	23.62	19.13	9.67	5.30
Return on Capital Employed (RoCE) (%)	1.60	0.34	0.20	0.11
EBITDA (in ₹ lakh)	202.72	283.84	131.58	72.07

Know before investing

Strengths

Over the years, GSM Foils Limited has steadily increased its production capacity and diversified its product portfolio. The addition of blister foils and aluminium strip pharma foils, including various specialised variants, allows the company to effectively cater to diverse customer requirements.
With a well-equipped manufacturing facility spanning 7,973 square feet in Vasai, Mumbai, GSM Foils Limited ensures a smooth production process. Regular upgrades and maintenance of machinery enable the company to consistently meet bulk orders.
With a significant presence in states like Dadra & Nagar Haveli, Gujarat, and Maharashtra, GSM Foils Limited aims to expand its footprint to other regions nationwide.
GSM Foils Limited prioritises quality throughout its operations. Certified with ISO 9001:2015, the company maintains stringent quality control measures from raw material procurement to product dispatch.

Risks

GSM Foils Limited faces uncertainties due to outstanding litigation, including civil, criminal, and tax proceedings. Adverse outcomes could harm the company's reputation and financial stability, increasing expenses and liabilities.
Malfunctions, breakdowns, or accidents in manufacturing assets pose significant operational risks. Any disruptions or shutdowns in manufacturing operations could lead to repair costs, operational delays, and regulatory penalties, impacting the company's financial performance.
GSM Foils Limited's reliance on a single manufacturing region and major customers increases its vulnerability to local economic, political, and regulatory developments. Any downturn in the pharmaceutical industry, a significant revenue source, could adversely affect the company's business and financial performance.
Fluctuations in the prices of key raw materials, such as aluminium, could impact the company's profitability. The inability to pass on increased production costs to customers may further erode profit margins and financial stability.
Using restated financial statements provided by non-statutory auditors introduces financial transparency and accuracy uncertainties. Investors may face challenges in accurately assessing the company's financial health and performance.