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The scrip was listed at 52.85, a premium of 3.63% over the initial public offer (IPO) price. The stock was currently almost flat over its listing price. The counter hit a high of Rs 55 and a low of Rs 52.60. About 2.24 lakh shares of the company changed hands at the counter. Spinaroo Commercial's IPO was subscribed 1.49 times. The issue opened for bidding on 28 March 2025 and it closed on 3 April 2025. The issue price of the IPO was set at Rs 51 per share. The IPO comprised fresh issue of 19,94,000 equity shares. The promoter and promoter group shareholding diluted to 47.66 % from 66.67% pre-issue. The company intends to utilize the net proceeds to meet working capital requirements and general corporate purposes. Spinaroo Commercial is engaged in the manufacturing of aluminum foil containers, aluminum home foil, paper cups, paper plates, paper bowls, and semi-processed materials for paper cups, such as paper coating, printing, and blanking. It also deals in a wide range of paper cup-related machinery, including high-speed paper cup-making machines, flexo printing machines, automatic roll die-cutting machines, etc., with full end-to-end support. As of 31 October 2024, the company had 35 employees. The company recorded revenue from operations of Rs 21.02 crore and net profit of Rs 0.61 crore for the period as of 30 September 2024. Powered by Capital Market - Live News |