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GSM Foils IPO
Price Band
₹
Issue Size
₹11.01 Cr
Lot Size
4,000 shares
Min Investment
₹128,000
GMP
+₹6.0 (18.75%)
Issue Price
₹32.0
Subject to Sauda
₹18200
Paid only if allotted
GSM Foils IPO AI Summary
- GSM Foils IPO is listed on NSE SME in the Packaging sector.
- Subscription window: 24 May–28 May 2024, listing on 31 May 2024.
- Current GMP is +₹6.0 (18.75%) — unofficial and can change daily.
GSM Foils Limited is entering the market with an IPO priced at ₹32.0 per share, aiming to raise ₹11.01 Cr. The company has shown fluctuations in revenue and profit in recent periods, which potential investors should consider when evaluating this investment opportunity.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
GSM Foils IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
GSM Foils IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+18.75%
Est. Listing
₹38.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in April 2019, GSM Foils Limited manufactures Blister Foils and Aluminium Pharma Foils, also known as "Strip Foils," used for packaging pharmaceutical medicines such as capsules and tablets. These foils are primary packaging materials that come into direct contact with the medicine, so utmost care is taken to ensure their quality. The company has established a manufacturing facility at Sapphire Building in Thane, Vasai, Maharashtra, covering an area of 7,973 square feet across the ground plus 3 floors. The manufacturing facilities are fully equipped with tools, machinery, and amenities necessary to support seamless manufacturing processes, hassle-free production, quality testing, research, storage, and packaging. The company is ISO 9001:2015 certified company. The company has a presence across India with clients in 13 states and 1 Union territory in the domestic market. As of February 28, 2024 the company has 39 employees on payroll basis.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 22.08 | 14.38 | 10.51 | 7.21 |
| Total Income | 27.18 | 65.89 | 71.85 | 36.46 |
| Profit After Tax | 1.25 | 1.43 | 0.64 | 0.34 |
| NET Worth | 1.27 | 8.36 | 6.59 | 6.58 |
| Reserves and Surplus | 1.25 | |||
| Total Borrowing | 14.13 | 2.42 | 2.19 |
Key Ratios
EPS
₹1.53
NAV
₹25.10
ROE
23.62%
ROCE
1.60%
RoNW
98.27%
P/B Value
1.27
P/E Ratio
20.98
Market Cap
₹41.00 Cr
PAT Margin
4.59%
Debt/Equity
11.13
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Mmp Industries Limited | 91.68 | 8.22% | 36 | 7.28 |
| Synthiko Foils Ltd. | 33.36 | 2.85% | 70.47 | 0.95 |
| GSM Foils Limited This IPO | 165.16 | 13.26% | 1.13 | 28.25 |
Promoters
Sagar Girish Bhanushali and Mohansingh L Parmar
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure towards purchase of Plant and Machineries 1.11 2 Funding Working Capital Requirements of the Company 7.06 3 General Corporate Purpose 2.22
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹71.85 Cr in the year ending 31 Mar 2022, which slightly decreased to ₹65.89 Cr by 31 Mar 2023. However, in the most recent period ending 31 Dec 2023, total income dropped further to ₹27.18 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹0.64 Cr in the year ending 31 Mar 2022, increasing to ₹1.43 Cr by 31 Mar 2023. In the latest period ending 31 Dec 2023, profit after tax was ₹1.25 Cr, indicating a decline compared to the previous full year, but again, this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
GSM Foils Limited has an implied P/E of 1.13 at the issue price, compared to peers trading at a P/E range of 36-70.47.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is the difference between the expected listing price and the issue price of an IPO. A positive GMP indicates that the stock is likely to list at a premium, while a negative GMP suggests a potential discount. Investors often look at GMP as an indicator of market sentiment towards the IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who are risk-averse or looking for stable returns may want to avoid this IPO, especially given the fluctuations in revenue and profit in recent periods.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when an IPO lists at a higher price than its issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. It's important to be aware that listing-day performance may not reflect the company's long-term value.
This evaluation is generated from GSM Foils's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is GSM Foils IPO GMP today?
GSM Foils IPO GMP today is +₹6.0 (18.75%). GMP is an unofficial grey-market indicator and can change daily.
When does GSM Foils IPO open and close?
GSM Foils IPO opens on 24 May 2024 and closes on 28 May 2024.
When does GSM Foils IPO list on the stock exchange?
GSM Foils IPO listed on 31 May 2024 at ₹38.0.
What is the lot size for GSM Foils IPO?
The lot size for GSM Foils IPO is 4000 shares, requiring a minimum investment of ₹128,000.
What is the lot size for the GSM Foils IPO?
The lot size for the GSM Foils IPO is 4000 shares.
What is the minimum investment required?
The minimum investment required is ₹128,000.
When is the listing date for the GSM Foils IPO?
The listing date is scheduled for May 31, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the stock may list compared to its issue price.
What is the issue price of the GSM Foils IPO?
The issue price is ₹32.0 per share.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 May 2024
Close
28 May 2024
Allotment
29 May 2024
Listing
31 May 2024
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