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During the subscription period, which ran from November 24 to November 29, Swashthik Plascon attracted considerable attention from investors, recording an overall subscription rate of 15.43 times by the third day. The demand was particularly strong among retail investors, who subscribed 13.58 times their allotted share, while non-institutional buyers showed an impressive appetite, subscribing 35.76 times. Qualified Institutional Buyers (QIBs) also participated actively with a subscription rate of 3.42 times.
The capital raised through this IPO, amounting to ₹407.6 million, is earmarked for several strategic initiatives:
Shreni Shares Private Limited played a crucial role as the book-running lead manager for the IPO. Meanwhile, Bigshare Services Pvt Ltd was responsible for managing the registration processes effectively.
Nikunj Stock Brokers acted as the market maker for Swashthik Plascon’s IPO, indicating positive investor sentiment with a grey market premium (GMP) of +15. This suggested an anticipated listing price close to ₹101 per share, which the company has comfortably surpassed on its first day of trading.
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