Spinaroo Commercial Limited IPO is fully book build issue and total IPO size is ₹10.17 crores. The entire share offering is a fresh issue worth ₹1016.94 crores.
The dates for the Spinaroo Commercial IPO is starting from March 28, 2025 and closing on April 3, 2025
The allotment process is expected to be finalized by April 4, 2025.
The Spinaroo Commercial IPO is scheduled to list on BSE SME, with a tentative listing date of April 8, 2025.
The price band for the Spinaroo Commercial IPO is ₹51 Per Share.
Registrar for this IPO is Cameo Corporate Services Limited and lead managers for Spinaroo Commercial IPO are Finshore Management Services Limited.
Spinaroo Commercial Limited Live GMP Rates day by day
| Date | IPO GMP | Subject to | Last Updated |
|---|---|---|---|
| 28-03-2025 | ₹2 | -- | 28-Mar-2025 23:45 |
| 27-03-2025 | ₹2 | -- | 27-Mar-2025 23:45 |
| 26-03-2025 | ₹2 | -- | 26-Mar-2025 23:46 |
| 25-03-2025 | ₹2 | -- | 25-Mar-2025 23:41 |
Desclaimer:
Key Details
| Price Band | ₹51 Per Share |
|---|---|
| Lot Size | 2000 Shares |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹10.17 Crores |
| Fresh Issue | ₹10.17 Crores |
| Issue Type | Fixed Price Issue |
| Listing At | BSE SME |
IPO Schedule
| IPO Open Date | Friday, 28 Mar, 2025 |
|---|---|
| IPO Close Date | Thursday, 03 Apr, 2025 |
| IPO Allotment Date | Friday, 04 Apr, 2025 |
| Refund Initiation | Saturday, 05 Apr, 2025 |
| Share credit in Demat | Saturday, 05 Apr, 2025 |
| Listing Date | Tuesday, 08 Apr, 2025 |
About Spinaroo Commercial Limited Company
Spinaroo Commercial Limited: An Overview
Spinaroo Commercial Limited, originally incorporated in 2012 and converted to a Public Limited Company in 2024, is a manufacturer of Aluminium Foil Containers, Aluminium Home Foil, Paper Cups, Paper Plates, and Paper Bowls. The company also processes paper for coating, printing, and blanking, and deals in Paper Cup related Machinery like High-Speed Paper Cup Making Machines, Flexo Printing Machines, and Automatic Roll Die Cutting Machines, providing end-to-end support.
Spinaroo sources high-quality raw materials and focuses on delivering products that meet client specifications at competitive prices, with timely delivery. Their paper cup making machines are procured from reputable vendors, ensuring quality and adherence to specific client requirements.
The company operates two manufacturing facilities within the Jalan Industrial Complex, facilitating logistical and commercial cost efficiencies. These facilities are equipped with modern tools and machinery to ensure seamless manufacturing, quality testing, storage, and packaging.
As an ISO 9001:2015 certified company, Spinaroo aims to provide quality products, investing in suitable manufacturing techniques and maintaining a wide assortment of products. In-house coating, laminating, and printing capabilities allow the company to offer quick and cost-effective services to clients.
Market Reach and Expansion
Spinaroo serves a diverse clientele across 12 states and 2 Union Territories in India, with a strong presence in the eastern region and extending to central, northern, and western states, as well as the Andaman & Nicobar Islands. The company has also begun global expansion with a presence in Bhutan and plans to extend sales to other countries.
Financial Performance
The company's financial highlights demonstrate consistent performance. Key figures include:
- Total Income (as of Sept 30, 2024): ₹21.01 crore
- Revenue from Operations (for FY24): ₹40.83 crore
- EBITDA (Operating Profit) (for FY24): ₹2.64 crore
- PAT (for FY24): ₹1.40 crore
- Total Borrowings (as of Sept 30, 2024): ₹7.42 crore
- Total Net Worth (as of Sept 30, 2024): ₹6.64 crore
Business Segments
Spinaroo generates revenue primarily from Manufacturing, Trading (Paper Cup Machinery), and Job Work (processing and printing on paper products). The manufacturing segment focuses on aluminium home foils and containers, as well as paper cups, plates, and bowls. The trading segment involves sourcing and supplying high-quality paper product manufacturing machinery. Job work includes specialized processing, shaping, and printing services tailored to client specifications.
Offer Objectives
The company is issuing 1,994,000 equity shares at ₹51 per share, totaling ₹1,016.94 Lakhs (₹10.17 Crore). The issue aims to meet working capital requirements and general corporate purposes, enhancing the company's image and facilitating future financing.
Issue Proceeds: Gross proceeds are ₹1,016.94 Lakhs (₹10.17 Crore), with issue-related expenses of ₹104.10 Lakhs (₹1.04 Crore), resulting in net proceeds of ₹912.84 Lakhs (₹9.13 Crore). The allocation is ₹712.84 Lakhs (₹7.13 Crore) for working capital and ₹200.00 Lakhs (₹2.00 Crore) for general corporate expenses.
Working Capital: The company's working capital gap as of September 30, 2024, was ₹1,185.01 Lakhs (₹11.85 Crore). The estimated working capital requirements for FY 2024-25 and FY 2025-26 are ₹1,434.47 Lakhs (₹14.34 Crore) and ₹1,755.84 Lakhs (₹17.56 Crore) respectively. These estimations are based on industry-standard holding periods for sundry debtors (30 days) and inventory (91 days).
General Corporate Purposes: Up to ₹200.00 Lakhs (₹2.00 Crore), not exceeding 25% of the issue amount, will be used for strategic initiatives, brand building, and unforeseen contingencies.
