Spinaroo Commercial Ltd. was incorporated on August 17, 2012. The company manufactures aluminum foil containers, home foil, paper cups, plates, bowls, and semi-processed materials for paper cups. It also supplies paper cup machinery with end-to-end support.
| Bidding Dates |
|---|
| 28 Mar 2025 - 03 Apr 2025 |
| Subscription |
|---|
| 1.49x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,02,000 | 1 | 1 | 2000 | 2.0 M | ₹51 | 47.66 % | ₹101.7 M | RHP DOC |
Spinaroo Commercial IPO SUBSCRIPTION STATUS
03 Apr '25Spinaroo Commercial IPO overall subscription rate was 1.49 times the total available shares
Spinaroo Commercial IPO retail subscription rate was 1.14 times in the retail segment
Spinaroo Commercial IPO non-institutional investor subscription rate was 1.84 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
03 Apr 2025 (Day 4) | 1.14x | 1.84x | - |
02 Apr 2025 (Day 3) | 0.57x | 0.17x | - |
01 Apr 2025 (Day 2) | 0.32x | 0.05x | - |
28 Mar 2025 (Day 1) | 0.28x | 0.02x | - |
Spinaroo Commercial FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 6.1 | 210.2 | 3.9 | 3.7 | 6.3% |
| FY24 | 14.0 | 408.4 | 8.6 | 12.2 | 6.5% |
| FY23 | 9.3 | 531.3 | 18.1 | 16.9 | 4.1% |
| FY22 | 5.2 | 474.4 | 12.3 | 11.0 | 4.6% |
Spinaroo Commercial IPO SUBSCRIPTION STATUS DETAILS
Spinaroo Commercial had 2.0 M shares on offer
Spinaroo Commercial IPO offer price was ₹51
Spinaroo Commercial IPO minimum Investment was ₹102000
Spinaroo Commercial IPO issue size was ₹ 101.7 M
Spinaroo Commercial had a minimum lot size of 2000 Shares per application
Spinaroo Commercial NUMBER OF SHARES ON OFFER
Spinaroo Commercial IPO IMPORTANT DATES
| Issue Open Date | 28 Mar 2025 |
| Issue close Date | 03 Apr 2025 |
| Allotment Date | 04 Apr 2025 |
| Refund Date | 07 Apr 2025 |
| Demat Account Credit Date | 07 Apr 2025 |
| Listing Date | 08 Apr 2025 |
| Listing on Exchange(s) | BSE |
| Spinaroo Commercial Allotment Status | Exchange/ Registrar |
Spinaroo Commercial IPO subscription opened on 28 Mar 2025, and closed on 03 Apr 2025
IPO allotment for Spinaroo Commercial was finalized on Friday, 04 Apr 2025
IPO listing for Spinaroo Commercial was on BSE on Tuesday, 08 Apr 2025
Spinaroo Commercial IPO LISTING GAINS
| Issue Price (adjusted) | 51.0 |
| Listing Open Price | 52.9 |
| Listing Close Price | 54.4 |
| Listing Gain% | 3.6% |
| Current Gain% | 5.9% |
Spinaroo Commercial Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Spinaroo Commercial Ltd. | 54 | 37.8 | 70.4 | -1.1 | 1 | 3.2 | 1.9 | 39.3 | -0.1 | 0.5 | -62.7 | 0.8 | -62.7 |
| Aditya Birla Real Estate Ltd. | 1382.8 | 15445.3 | -149.6 | -4.2 | 37.9 | -2.8 | -0.5 | 459.2 | -63.5 | -103.2 | 36 | -9.2 | 36 |
| JK Paper Ltd. | 387 | 7017.9 | 21.6 | -2.8 | 1 | 4.8 | 2.5 | 7136.1 | 4.5 | 265.8 | -35.1 | 17.9 | -7.7 |
| West Coast Paper Mills Ltd. | 599.1 | 3957 | 26.3 | -0.5 | 0.9 | 4.2 | 2.8 | 4393.2 | 2.8 | 150.6 | -51.6 | 22.8 | -51.6 |
| KS Smart Technologies Ltd. | 106.4 | 1745.7 | -5409.3 | 81.8 | 859.1 | -0.1 | -0.1 | 2.1 | -0.3 | -66 | 0 | -66.1 | |
| Seshasayee Paper & Boards Ltd. | 229.2 | 1445.6 | 14.6 | 1.1 | 0.8 | 4 | 3.3 | 1759.2 | -3.5 | 82.5 | -24.4 | 15.7 | 13 |
Spinaroo Commercial INFORMATION ON IPO ISSUE
About Spinaroo Commercial
Spinaroo Commercial Ltd. was incorporated on August 17, 2012. The company manufactures aluminum foil containers, home foil, paper cups, plates, bowls, and semi-processed materials for paper cups. It also supplies paper cup machinery with end-to-end support.
Object of the Issue
- To meet working capital requirements
- General corporate purposes
Spinaroo Commercial - PROMOTERS
| Name |
|---|
| Amit Sultania |
| Aditya Todi |
| Mridula Todi |
Spinaroo Commercial Lead Manager to the Issue
Finshore Management Services Limited
info@finshoregroup.com
Spinaroo Commercial Registrar to the issue
Cameo Corporate Services Limited
ipo@cameoindia.com
Spinaroo Commercial Strengths
Dual manufacturing plants
The company operates two manufacturing units within the same industrial complex, enabling efficient scaling, timely deliveries, and effective inventory management to meet peak demand
Dedicated R&D team
The company's R&D team drives innovation, enabling product expansion and process optimization. Their expertise has facilitated paper plate manufacturing and introduced diverse designs for paper cups and plates to meet evolving customer preferences
Quality assurance & standards
The company's ISO 9001:2015 certification reflects its commitment to quality. A dedicated quality control team ensures rigorous inspections and adherence to strict manufacturing standards from raw material procurement to final dispatch
Spinaroo Commercial Risks
Procurement & storage risks
The company primarily imports aluminum reels from Thailand, facing challenges in sourcing from China due to anti-dumping duties. Aluminum's high cost and susceptibility to oxidation limit storage, impacting the sales of aluminum products in the past two years
Demand fluctuations
Shifts in consumer preferences, regulations, and technology may make certain products obsolete. Staying competitive requires timely innovation and compliance. Failure to adapt or gain market acceptance for new products could negatively impact operations
Geographically concentrated
The company's manufacturing facility in West Bengal is exposed to risks from social unrest, conflicts, economic changes, and natural disasters, potentially affecting operations
IPO FAQs
The promoters of the company are Amit Sultania, Aditya Todi and Mridula Todi.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 51.0 - 51.0.
The IPO application opens on Mar 28, 2025 and closes on Apr 03, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 102,000.0, the maximum value for this IPO is Rs 102,000.0.
This IPO will be allotted on Apr 04, 2025.
The refund will be credited to your account on Apr 07, 2025.
The allotted shares will be credited to your demat on Apr 07, 2025.
Spinaroo Commercial Ltd.’s shares listed on the stock exchanges on Apr 08, 2025.