Anubhav Plast IPO Opens Today: Key Details and GMP to Consider Before Subscribing!

The IPO of Anubhav Plast is set to open for subscription from June 19 and will close on June 23. The company plans to issue 30 lakh equity shares, with a total issue size of approximately Rs 24 crore. The price band has been fixed at Rs 77-80 per share, and investors can subscribe with a minimum investment of Rs 2.56 lakh for 3,200 shares. High Net-worth Individuals (HNIs) will need to apply for at least 4,800 shares, estimated at Rs 3.84 lakh. The allocation results are anticipated on June 24, with shares expected to be listed on the BSE SME platform on June 29.

Grey market sentiment ahead of this IPO indicates a premium (GMP) of nil, suggesting that there are no anticipated gains in the unofficial market for investors. This could reflect market uncertainty or a cautious outlook on Anubhav Plast, potentially signaling a lack of enthusiasm among traders. The muted sentiment may stem from the company’s financial performance; while there has been growth in revenue and profits over the past two financial years, the figures remain modest, which could impact investor confidence.

For Indian investors, the Anubhav Plast IPO presents a mixed opportunity. On one hand, the company’s established operations in manufacturing ERW steel pipes and tubes cater to critical infrastructure sectors, which could support future growth. On the other hand, the current grey market conditions indicate a lack of strong pre-listing demand. Investors should weigh the long-term business prospects against the initial sentiment in the IPO market, especially given the company’s focus on government tender-based projects, which can be influenced by changing government policies and economic conditions.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)