Premium Plast IPO Subscription Status

Premium Plast's initial public offering (IPO) has garnered strong investor interest, with subscription rates increasing substantially over the three-day period. Starting solidly on day one, the IPO witnessed consistent growth in demand, resulting in a 12.06 times oversubscription by 10:53:59 AM on day three. This robust response underscores the strong market appetite for Premium Plast's shares and sets a positive stage for the listing.

The IPO, which opened on 21st October 2024, has seen significant growth in investor participation across categories. The Retail Investors segment has shown exceptional demand, while Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) have also demonstrated steady interest throughout the subscription period.

This enthusiastic response to Premium Plast's IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the automotive and plastic manufacturing sector. The company's specialization in automotive plastic components appears to have resonated strongly with investors.
 

Subscription Status of Premium Plast IPO for Days 1, 2, and 3:

Here are the subscription details for Premium Plast IPO as of Day 3 (23rd October 2024 at 10:53:59 AM):

Total Applications: 17,759

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Premium Plast IPO is currently subscribed 12.06 times, with exceptional demand from Retail Investors.
• Retail investors have shown overwhelming interest, with a subscription ratio of 23.34 times.
• Non-Institutional Investors (NII) have demonstrated solid enthusiasm, with a subscription ratio of 3.25 times.
• Qualified Institutional Buyers (QIB) maintained full subscription at 1.00 times.
• The overall subscription trend shows significant increase day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Premium Plast IPO - Day 2 Subscription at 8.97 Times

Key Highlights:

• On Day 2, Premium Plast's IPO was subscribed 8.97 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 17.57 times.
• Non-Institutional Investors (NII) improved their participation to 2.14 times.
• Qualified Institutional Buyers (QIB) maintained their subscription at 1.00 times.
• The overall subscription trend indicated building momentum, with retail category showing substantial increased participation.

Premium Plast IPO - Day 1 Subscription at 3.77 Times

Key Highlights:

• The Premium Plast IPO opened with a solid overall subscription of 3.77 times.
• Retail investors showed strong early interest with a subscription ratio of 7.27 times.
• Qualified Institutional Buyers (QIB) achieved full subscription at 1.00 times.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 0.89 times.
• The first-day response laid a strong foundation for the remaining days of the IPO.

About Premium Plast Limited

Premium Plast Limited, founded in 1995, specializes in designing, manufacturing, and supplying exterior, interior, and hood plastic parts directly to commercial vehicle manufacturers. The company manufactures various injection and blow moulded plastic parts for automotive, industrial, and packaging applications, producing over 600 components across three state-of-the-art facilities.

For the fiscal year 2024, Premium Plast demonstrated solid financial performance with a revenue of ₹4,670.59 lakhs, marking a 6% year-over-year growth, and a Profit After Tax (PAT) of ₹477.55 lakhs, representing a significant 200% increase. The company's net worth stood at ₹1,652.51 lakhs as of March 31, 2024. Key performance indicators highlight the company's financial health, with a Return on Equity (ROE) of 6.37%, a Return on Capital Employed (ROCE) of 7.88%, and a PAT Margin of 11.64%.

The company operates three strategically located manufacturing facilities - two in Pithampur, Madhya Pradesh, and one in Vasai, Maharashtra, with a total installed capacity of 1,975 MTPA. As of June 30, 2024, Premium Plast had 39 employees.

Read more about Premium Plast IPO

Highlights of the Premium Plast IPO

• IPO Date: 21st October 2024 to 23rd October 2024
• Listing Date: 28th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹46 to ₹49 per share
• Lot Size: 3000 Shares
• Total Issue Size: 5,346,000 shares (aggregating up to ₹26.20 Cr)
• Fresh Issue: 5,346,000 shares (aggregating up to ₹26.20 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Khandwala Securities Limited
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Asnani Stock Broker