Premium Plast Makes Modest NSE SME Debut With 5% Listing Premium
Date
10/28/2024 2:08:39 PM
(MENAFN- KNN India)
New Delhi, Oct 28 (KNN) Premium Plast, a diversified plastic manufacturing company, made its debut on the NSE SME Emerge platform today, opening at Rs 51.45 per share compared to its initial public offering (IPO) price of Rs 49, marking a modest 5 percent premium.
The listing performance fell short of grey market expectations, which had indicated a potential premium of Rs 9 or approximately 18 percent above the issue price.
The company, which specialises in injection and blow moulded plastic products, plans to utilise the IPO proceeds strategically.
The funds will support the expansion of its existing manufacturing facilities, meet capital expenditure requirements, reduce debt obligations, and address general corporate needs, alongside covering issue-related expenses.
Premium Plast has established itself as a significant player in the plastic manufacturing sector, producing a comprehensive range of products including automotive components, industrial parts, and packaging materials.
This diverse product portfolio enables the company to serve multiple industries, positioning it for potential growth in various market segments.
(KNN Bureau)
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