Premium Plast shares make muted debut with 5% premium to list at Rs 51.45 apiece on NSE SME

Premium Plast shares make muted debut on exchanges.

Shares of Premium Plast made a muted stock market debut on the NSE SME on October 28 to list at 5 percent premium over its initial public offer (IPO) price.

The stock of Premium Plast listed on the NSE SME Emerge platform at Rs 51.45 per share against the offer price of Rs 49 apiece, a premium of 5 percent.

According to multiple platforms tracking the grey market premium activities, the shares of Premium Plast were commanding a GMP in the price range of Rs 9, indicating 18 percent premium, however, the listing price fell short of the expectations in the unofficial market.

The net proceeds from the public offer will be utilised for expanding the existing manufacturing facility, funding capital expenditure requirements, repaying debt, general corporate purposes, and covering issue-related expenses.

The company produces a wide variety of injection and blow moulded plastic items for a broad range of industries and applications. Its products mainly include automotive parts, plastic industrial components, and packaging materials, serving a diverse array of industries.

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