Spinaroo Commercial has made a promising entrance into the BSE SME platform, with its share price starting strong today. Opening at ₹52.85, this marks an impressive 3.63% increase from its initial issue price of ₹51. The company’s initial public offering (IPO) was available for subscription starting from March 28 and wrapped up on April 3.

IPO Overview and Share Details

The IPO offered a price range set at ₹51 per equity share, with each share having a face value of ₹10. Investors could place bids for a minimum of 2,000 equity shares, and thereafter in multiples of 2,000.

Company Background and Offerings

Founded on August 17, 2012, Spinaroo Commercial Limited specializes in the production of various aluminum and paper products. Their manufacturing portfolio includes:

• Aluminum foil containers
• Household aluminum foil
• Paper cups, plates, and bowls
• Semi-processed materials for paper cups, such as paper coating, printing, and blanking

Notably, Spinaroo also provides essential machinery for paper cup production, including high-speed paper cup-making machines and automatic roll die-cutting machines. This positions them as a complete solution provider in their sector.

Commitment to Quality

Spinaroo is dedicated to delivering high-quality products, utilizing premium raw materials, and ensuring that every item is produced under expert supervision. This approach guarantees excellent performance, competitive pricing, and timely deliveries, all tailored to satisfy customer needs.

Unique Market Position

According to their prospectus, Spinaroo Commercial stands out as there are no publicly listed firms in India that mirror their business model. Consequently, they chose not to draw comparisons with other industry players.

IPO Financials and Management Team

The Spinaroo Commercial IPO consists of a fresh issue of 1,994,000 equity shares, totaling ₹10.17 crore, with no offer for sale (OFS) component. The funds raised will be directed towards working capital needs and general corporate expenses.

• Finshore Management Services Limited acts as the lead book-running manager for the IPO.
• Cameo Corporate Services Limited is in charge of the registrar functions.
• Black Fox Financial Private Limited serves as the market maker for this offering.

Current Grey Market Premium

As of today, the grey market premium (GMP) for the Spinaroo Commercial IPO stands at ₹0, indicating that shares are trading at their issue price of ₹51 without any premium or discount, according to data from investorgain.com. This GMP reflects the market’s current sentiment regarding willingness to invest in the shares.

For those looking to stay updated or check the status of their allotments, additional resources and guides are available online.

As Spinaroo Commercial continues to carve its niche in the market, investors and stakeholders alike will be keen to monitor its performance and growth trajectory.