Swastika Castal IPO commenced on Monday, July 21 and will conclude on Wednesday, July 23. Swastika Castal IPO price band has been set at ₹65 per equity share, each with a face value of ₹10. Investors can place bids for a minimum of 2,000 equity shares and in multiples of 2,000 shares thereafter.
Swastika Castal Limited is involved in the aluminum casting industry. The firm mainly operates within the manufacturing sector, concentrating on delivering high-quality aluminum castings through methods such as sand, gravity, and centrifugal casting.
The company excels in sand casting for intricate designs (up to 250 kg) and gravity casting (up to 80 kg) to create precise, high-quality components that boast an excellent surface finish and accuracy. Additionally, the company has its own heat treatment facility, which guarantees superior quality, efficiency, and cost-effectiveness while maintaining precise control over mechanical properties and dimensional stability.
As per the prospectus, the company’s sole peer is Thaai Casting IPO (with a P/E of 23).
Swastika Castal IPO Subscription Status
Swastika Castal IPO subscription status is 3.65 times on day 3, as per chittorgarh.com. The retail portion was subscribed 5.82 times, and NII portion was booked 1.47 times.
The company has received bids for 74,82,000 shares against 20,52,001 shares on offer on the third bidding day, at 12:19 IST, according to data on chittorgarh.com
Swastika Castal IPO subscription status was 1.62 times on the first bidding day, and the issue was booked 2.88 times on the second bidding day.
Swastika Castal IPO details
Swastika Castal IPO consists of a fresh issue of 21,64,000 equity shares, aggregating to ₹14.07 crore, and there is no offer-for-sale (OFS) component.
The Swastika Castal IPO aims to use the net proceeds from the offering for several purposes, including capital expenditures for the purchase of plant and machinery, as well as the construction of sheds and buildings, along with fulfilling working capital needs.
Horizon Management Private Limited serves as the book-running lead manager for the Swastika Castal IPO, whereas Accurate Securities & Registry Private Limited acts as the registrar for this issuance.
Swastika Castal IPO GMP today
Swastika Castal IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹65 with no premium or discount in the grey market according to investorgain.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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