Global Pet Industries Ltd shares listed on the NSE SME exchange at a premium on Monday. The stock was listed at ₹52 per share, 6.1 percent higher than the issue price of ₹49 on the NSE SME exchange. The stock hit 5% upper circuit at ₹54.60 post its listing.
The Global Pet Industries IPO opened for subscription on Wednesday, 28 June and the issue closed on Monday, July 3.
On day 3, the Global Pet Industries IPO had a 4.30 times subscription. The public issue was subscribed 4.14 times in the retail category, 4.44 times in the other category.
The company intends to issue 2,700,000 new equity shares through the IPO, and an offer for sale of 1,500,000 equity shares by the promoters and existing investors. The total amount of the issue is ₹13.23 crore.
Global Pet Industries IPO: GMP, subscription status, issue details, other things to know
The IPO proceeds will be used for general corporate purposes and to pay capital expenditures for the development of an industrial building.
The company is the top supplier of PET stretch blow molding equipment in India. Its market share in the country is around 30%. PET bottles for a range of items, including water, soft drinks, and food, are produced using the company’s machinery.
The company’s order book is healthy for the current fiscal year. For the year, it has received orders worth ₹100 crore, more than doubling its revenue from the previous fiscal year.
In recent years, the company has performed well financially. Over the past five years, its revenue has increased at a CAGR of 18%.
The company is run by a solid management team with a successful track record. The company’s promoters have more than 25 years of experience in the PET sector. The market in which the business operates is expanding. The rising consumption of packaged beverages is predicted to increase the need for PET bottles in the coming years.
Global Pet IPO: Investors eye strong financials, experienced management team
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 10 Jul 2023, 10:08 AM IST
