Swashthik Plascon IPO: The SME IPO of Swashthik Plascon opened for subscription today, November 24 with a price band of Rs 80 to Rs 86 per share. The IPO of with a book-built issue of Rs 40.76 crores will be open for subscription for three trading days, until November 29 from 10 am to 5 pm. Swashthik Plascon IPO is entirely a fresh issue of 47.39 lakh shares.

Following are a few important things to know about the Swashthik Plascon IPO:

When is Swashthik Plascon IPO allotment?

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The basis of the allotment of shares under the IPO of Swashthik Plascon is set to be finalised on December 4. Successful bidders will get shares credited into their demat accounts on December 6, whereas other participants will have refunds initiated on December 5.

When will Swashthik Plascon shares be listed?

The Swashthik Plascon stock is likely to be listed on in December 7 on BSE SME.

Who are the book-running lead managers of Swashthik Plascon IPO?

Shreni Shares Limited is the book running lead manager of the Swashthik Plascon IPO, while Bigshare Services is the registrar for the issue.

What does Swashthik Plascon do?

Incorporated in 2006, Swasthik Plascon specializes in the production of PET bottles and PET preforms. The company manufactures PET bottles for various applications such as pharmaceuticals, liquor, FMCG packaging, household, dishwashing liquids, repellent dispensers, etc. They also produce PET preforms for soft drink bottles, packaged drinking water bottles, and juice bottles.

Swashthik Plascon IPO: Fund Utilisation

The company proposes to utilize the net proceeds towards funding the following objects:

  • Funding capital expenditure for developing new manufacturing facilities and installation of Plant and Machinery
  • Funding of capital expenditure requirements of the Company towards Set up of Solar Power Plant
  • Purchase of Plant and Machinery at the Existing Manufacturing Facility
  • Funding Working Capital Requirements of the Company and general corporate purposes