PNN
Mumbai (Maharashtra) [India], March 31: Spinaroo Commercial Limited, a prominent manufacturer of aluminium foil containers, paper cups, plates, bowls, and semi-processed materials for paper cups, is set to launch its Initial Public Offering (IPO). The IPO will raise Rs1,016.94 Lakhs by offering 19,94,000 equity shares at Rs51 per share, listed on the BSE SME platform.
About Spinaroo Commercial Limited Spinaroo Commercial manufactures a wide range of high-quality products, including aluminium foil containers, home foil, paper cups, plates, bowls, and semi-processed materials like paper coating, printing, and blanking. The company also offers machinery for paper cup production, including high-speed paper cup-making machines, flexo printing machines, and automatic roll die cutting machines.
With two facilities in close proximity at the Jalan Industrial Complex in Kolkata, West Bengal, Spinaroo operates with significant operational and logistical advantages. The company serves clients across 12 states and 2 Union Territories, including West Bengal, Delhi, Gujarat, Rajasthan, Bihar, Chhattisgarh, Assam, and even the Andaman & Nicobar Islands.
Promoter and Management
The company is managed by experienced professionals who ensure its products meet high standards, with raw materials sourced from reliable vendors. Under their leadership, Spinaroo is committed to delivering quality products and services tailored to client specifications.
-Amit Sultania
- Aditya Todi
- Mridula Todi
IPO Issue Details
-Issue Size: Rs1,016.94 Lakhs (19,94,000 Shares @ Rs51/- each)
-Face Value per Share: Rs10
- Issue Price: Rs51 per Equity Share
- Retail Allocation: Rs483.48 Lakhs (9,48,000 Shares)
- Non-Retail Allocation: Rs482.46 Lakhs (9,46,000 Shares)
- Market Maker Portion: Rs51 Lakhs (1,00,000 Shares)
- Bid Lot Size: 2,000 Equity Shares (Rs1,02,000 per lot)
- Issue Open Date: March 28, 2025
- Issue Close Date: April 3, 2025
- Post-IPO Dilution: 28.51%
Capital Structure (Standalone Basis)
-Pre-Issue Share Capital: Rs500.00 Lakhs
- Post-Issue Share Capital: Rs699.40 Lakhs
- Authorized Share Capital: Rs700.00 Lakhs
- Net Worth (Pre-Issue): Rs664.40 Lakhs
- Net Worth (Post-Issue): Rs1,681.34 Lakhs
- Total Borrowings: Rs742.98 Lakhs
Financial Performance (As per Restated Financials)
-Revenue:
*FY 2023: Rs5,312.50 Lakhs
* FY 2024: Rs4,083.68 Lakhs
* H1 FY 2025: Rs2,101.50 Lakhs
-EBITDA:
*FY 2023: Rs219.22 Lakhs (Margin: 4.13%)
* FY 2024: Rs264.50 Lakhs (Margin: 6.48%)
* H1 FY 2025: Rs132.78 Lakhs (Margin: 6.32%)
-Profit After Tax (PAT):
* FY 2023: Rs93.06 Lakhs (Margin: 1.75%)
* FY 2024: Rs140.05 Lakhs (Margin: 3.40%)
* H1 FY 2025: Rs61.48 Lakhs (Margin: 2.93%)
Use of Proceeds
The IPO proceeds will be used for:
1.Working Capital Requirements
2.General Corporate Purposes
Risk and Disclaimer
Investors are advised to carefully read the offer documents and consider the risks associated with investing in the IPO. There is no guarantee of active or sustained trading of the shares post-listing. The company has not yet established a formal market for its shares.
Note: The face value of the equity shares is Rs10, and the issue price is Rs51. Investments in equity and equity-related securities involve risk. Investors should only invest if they can afford to bear the risk of loss.
Contact Information
For more details, please contact:
-Company: Spinaroo Commercial Limited, Kolkata
* Ankita Periwal | Tel: +91 84206 45159 | Email: compliance@spino.co.in
- Lead Manager: Finshore Management Services Ltd., Kolkata
* S Ramakrishna Iyengar | Tel: +91 33 22895101 | Email: info@finshoregroup.com
- Registrar to the Issue (RTA): CAMEO Corporate Services Ltd., Chennai
* K. Sreepriya | Tel: +91-44-40020700 | Email: ipo@cameoindia.com
-Market Maker: Black Fox Financial Pvt. Ltd., New Delhi
* Suresh Bohra | Tel: +91 11 4161 1745 | Email: suresh@blackfoxindia.com
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