Spunweb Nonwoven IPO: GMP robust at 26% on Day 2 of bidding. Check subscription status, other details
This means that investors can expect the shares of Spunweb Nonwoven to list at a premium of about Rs 25–30 on the NSE SME platform.
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On the first day of the issue, the IPO garnered an overall subscription of 7.61 times, receiving 3,46,15,200 bids against the reserved 45,48,000 shares.
The individual investors made 11,408 bids for 2,73,79,200 shares, while the non-institutional investors (NIIs) bid for 72.36 lakh shares of the company via 880 applications.
At the end of Day 1, the qualified institutional buyers (QIBs) had not made any bids.
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About Spunweb Nonwoven IPO
Investors can apply for a minimum of 2,400 shares, amounting to Rs 2.30 lakh, making it suitable primarily for well-funded retail and HNI investors.
The IPO proceeds will be used for working capital needs, investment in its subsidiary SIPL, and partial debt repayment.
The book-built issue comprises a completely fresh offering of 63.52 lakh shares, targeting a fundraise of Rs 61 crore. The price band has been fixed at Rs 90 to Rs 96 per share. The offer is scheduled to close on July 16, with the stock set to be listed on the NSE SME platform.
About Spunweb Nonwoven
Founded in 2015 and headquartered in Rajkot, Gujarat, Spunweb produces nonwoven fabric used in sectors such as hygiene, medical, packaging, agriculture, and construction. On the financial front, the company reported strong performance in FY25, with revenue rising 47% and profit increasing by 98%, while EBITDA nearly doubled compared to the previous year.
Spunweb Nonwoven IPO key dates
The IPO for Spunweb Nonwoven opened on July 14 and will close on July 16, with the share allotment likely to take place on July 17. The listing of Spunweb Nonwoven shares is tentatively scheduled for July 21.
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Smartworks Coworking Spaces IPO allotment. Check status, GMP and other details
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