Spinaroo Commercial, a company that manufactures paper cups, plates, and other paper products, has made a strong debut on the BSE SME today.
The shares entered the market at ₹52.85, representing a 3.63% premium over the IPO issue price of ₹51.
The stock continued its upward momentum, hitting the upper circuit limit of ₹55.00, giving investors a 7.84% profit on their investment.
IPO Subscription and Listing Performance:
IPO Issue Price: ₹51
Listing Price: ₹52.85 (3.63% premium)
Upper Circuit Price: ₹55.00 (7.84% gain)
The Spinaroo IPO, which raised ₹10.17 crore, was open for subscription from March 28 to April 3, and received an overall subscription of 1.52 times.
The portion reserved for retail investors was filled 1.2 times.
Utilization of IPO Funds:
Total Amount Raised: ₹10.17 crore
Usage: ₹7.13 crore will be allocated to working capital needs, and the remaining funds will be used for general corporate purposes.
About Spinaroo Commercial:
Founded in August 2012, Spinaroo manufactures various products including aluminum foil containers, paper cups, paper plates, paper bowls, and machinery for paper cup production.
It also makes paper cup forming machines, flexo printing machines, and die-cutting machines.
Financial Overview:
2022 Profit: ₹5.2 lakh
2023 Profit: ₹9.3 lakh
2024 Profit: ₹1.4 crore
Revenue:
2022: ₹47.58 crore
2023: ₹53.19 crore
2024: ₹41.21 crore
In the first half of the 2024-25 financial year (April-September), the company reported a net profit of ₹6.1 lakh and revenue of ₹21.02 crore.
This positive listing performance suggests strong growth potential for Spinaroo Commercial as it continues to expand its presence in the paper product and machinery sectors.
