Swashthik Plascon IPO on Day 1: A Tepid Response, Best Details 11/2023

Swashthik Plascon IPO on Day 1

Investors’ response to Swashthik Plascon’s initial public offering (IPO), a well-known paint and coatings producer, was mediocre on the first day of subscription. The total subscription rate for the issue was 47%; 74% of subscribers were in the retail category and 47% were in the non-institutional investors (NII) category.

There was still a waiting list for the qualified institutional buyers (QIB) category.November 23, 2023 is when the IPO launched, and it will end on November 29, 2023.Through the IPO, the company hopes to raise 40.76 crores. A fixed price range of ₹136 to ₹140 per share has been set for the offering.

The company’s valuations, which they claimed were on the higher side, had alarmed market analysts. This could have played a part in the first day’s lacklustre reaction from investors.

The company remains optimistic about a successful IPO in spite of the lacklustre reception. Investor interest in the company is anticipated in the near future due to its solid financials and promising growth potential.

Key Highlights on Day 1 :

• Overall subscription: 47%
• Retail category subscription: 74%
• NII category subscription: 47%
• QIB category subscription: 0%

About Swashthik Plascon:

One of India’s top producers of paints and coatings is Swashthik Plascon. The business is well-known in the markets for industrial and ornamental paints. Applications for the company’s products are numerous and include autos, infrastructural projects, and residential and commercial buildings.

Disclaimer:

This article is for informational purposes only and should not be considered investment advice. Investors should consult with a qualified financial advisor before making any investment decisions.