How To Check GSM Foils IPO Allotment Status

The GSM Foils IPO garnered major interest from investors on the final day of bidding, May 28, with the offering being subscribed 240.4 times. The GSM Foils IPO allotment status is set to be finalized later today.

If you applied for the IPO, here is how you can check the GSM Foils IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the GSM Foils IPO allotment status

1. Visit the registrar's website.
2. Pick a server to check your IPO Allotment Status.
3. Select "GSM Foils" from the companies listed in the drop-down menu
4. In the Selection Type dropdown, choose either Application number, Beneficiary ID, or PAN ID.
5. Enter your ID as per your selection.
6. Complete the ‘captcha' to verify that you are not a robot.
7. Click ‘Search' to retrieve your GSM Foils IPO allotment status.

The GSM Foils IPO allotment status will be visible if all the details are entered correctly and the allotment has been finalised.

See Also: Paytm Denies News Of Adani Acquisition, Shares Hit Upper Circuit

GSM Foils Subscription Status

According to subscription data on the NSE, investors bid for a total of 82.68 crore equity shares, aganist the offer size of 34.4 lakh equity shares. Institutional and non-institutional investors were particularly active, subscribing 259.62 times the allotted quota, while retail investors bid for 247 times their designated portion.

GSM Foils IPO GMP

GSM Foils IPO GMP is currently reported at ₹10. Taking the issue price, the expected listing price for the IPO is ₹42, around 31% premium. However, it should be taken into consideration that IPO GMP can only provide some insights into the IPO’s performance on listing and is not an absolute measure.

GSM Foils IPO Details

The Maharashtra-based strip foils manufacturer launched its ₹11.01-crore maiden public issue on May 24, offering shares at a fixed IPO price of ₹32 each.

GSM Foils specialises in manufacturing blister foils and aluminium pharma foils, which are used for packaging pharmaceutical medicines such as capsules and tablets.

Read Next: Tata Stock Jumps Back In Green After 2 Days As Brokerage Raises Target By 31%