SPINAROO COMMERCIAL LIMITED IPO: A Comprehensive Overview
Investing in the stock market can be an exciting opportunity, and Initial Public Offerings (IPOs) are often a focal point for investors. This blog post dives deep into the Spinaroo Commercial Limited IPO, providing you with a detailed overview to help you make an informed decision.
What Does Spinaroo Commercial Limited Do?
Spinaroo Commercial Limited, established on August 17, 2012, specializes in the manufacturing of a diverse range of products, including:
- Aluminum foil containers
- Aluminum home foil
- Paper cups
- Paper plates
- Paper bowls
- Semi-processed materials for paper cups (coating, printing, blanking)
Additionally, they offer paper cup-related machinery, providing end-to-end solutions to their clients. The company prides itself on using high-quality, food-grade raw materials and maintaining competitive pricing through expert guidance and timely delivery.
Spinaroo Commercial IPO Details
The Spinaroo Commercial IPO is a fixed-price issue totaling ₹10.17 crores. The issue consists entirely of a fresh issue of 19.94 lakh shares. Here's a quick snapshot:
- IPO Size: ₹10.17 crores
- Issue Type: Fresh Issue
- Number of Shares: 19.94 lakh
- Price: ₹51 per share
- Face Value: ₹10 per share
- Listing: BSE SME
IPO Subscription Details
The IPO opens for subscription on March 28, 2025, and closes on April 3, 2025. Allotment is expected to be finalized on April 4, 2025, with a tentative listing date set for April 8, 2025.
IPO Timeline
Investment Details
Here are the key investment details for the IPO:
- Price per share: ₹51
- Minimum Lot Size: 2000 shares
- Minimum Investment (Retail): ₹1,02,000
- Minimum Investment (HNI): 2 lots (4,000 shares) amounting to ₹2,04,000
Company Financials
Here’s a snapshot of Spinaroo Commercial Limited’s financial performance:
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Crore) | 21.94 | 19.05 | 19.48 | 17.82 |
| Revenue (₹ Crore) | 21.02 | 41.21 | 53.19 | 47.58 |
| Profit After Tax (₹ Crore) | 0.61 | 1.40 | 0.93 | 0.52 |
| Net Worth (₹ Crore) | 6.64 | 6.03 | 4.63 | 3.7 |
Key Performance Indicators (KPI)
Understanding the company's KPI can give investors a better view of the company's growth. Here is the KPI.
| KPI | Value |
|---|---|
| ROE | 23.23% |
| ROCE | 37.58% |
| Debt/Equity | 1.25 |
| PAT Margin | 3.40 |
| Price to Book Value | 0.85 |
Objects of the Issue
The company plans to use the net proceeds from the IPO for:
- Working Capital Requirements: ₹71.28 Million
- General Corporate Expenses: ₹20 Million
Promoter Holding
The promoters of the company are Mr. Amit Sultania, Mr. Aditya Todi, and Mrs. Mridula Todi.
- Share Holding Pre Issue: 66.67%
- Share Holding Post Issue: 47.66%
Company Contact Details
- Address: Jalan Industrial Complex Gate-1, Right Lane-6, P.O. Jangalpur, Begri Gram Panchayat, Howrah 711 411
- Phone: +91 96747 03249
- Email: compliance@spino.co.in
- Website: http://www.spino.co.in/
IPO Registrar
- Registrar: Cameo Corporate Services Limited
- Phone: +91-44-28460390
- Email: ipo@cameoindia.com
- Website: https://ipo.cameoindia.com/
Lead Manager(s)
- Finshore Management Services Limited
A Word of Caution
It's wise to approach IPO investments with caution. Industry experts suggest that this particular IPO might be aggressively priced, especially given the company's inconsistent financial performance and the competitive nature of its sector. It is operating in a highly competitive and fragmented segment.
In Conclusion
The Spinaroo Commercial IPO presents an opportunity to invest in a company involved in the manufacturing of aluminum and paper products. However, it is crucial to consider the company's financials, the competitive landscape, and expert opinions before making an investment decision. Always conduct thorough research and consider consulting with a financial advisor to align your investments with your risk tolerance and financial goals.