Spinaroo Commercial Limited IPO (Spinaroo Commercial IPO) Detail
Spinaroo Commercial IPO is a fixed price of Rs 10.17 crores. The issue is entirely a fresh issue of 19.94 lakh shares.
Spinaroo Commercial IPO bidding opened for subscription on March 28, 2025 and will close on April 3, 2025. The allotment for the Spinaroo Commercial IPO is expected to be finalized on Friday, April 4, 2025. Spinaroo Commercial IPO will be list on BSE SME with a tentative listing date fixed as Tuesday, April 8, 2025.
Spinaroo Commercial IPO price is ₹51 per share. The minimum lot size for an application is 2000. The minimum amount of investment required by retail investors is ₹1,02,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹2,04,000.
Finshore Management Services Limited is the book-running lead manager of the Spinaroo Commercial IPO, while Cameo Corporate Services Limited is the registrar for the issue.The market maker for Spinaroo Commercial IPO is Black Fox Financial Private Limited.
Refer to Spinaroo Commercial IPO RHP for detailed information.
Spinaroo Commercial IPO Details
| IPO Date | March 28, 2025 to April 3, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price | ₹51 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 19,94,000 shares (aggregating up to ₹10.17 Cr) |
| Fresh Issue | 19,94,000 shares (aggregating up to ₹10.17 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 50,00,000 shares |
| Share Holding Post Issue | 69,94,000 shares |
| Market Maker Portion | 1,00,000 shares Black Fox Financial Private Limited |
Spinaroo Commercial IPO Reservation
Spinaroo Commercial IPO offers total 19,94,001 shares. Out of which 9,47,000 (47.49%) allocated to NII, 9,47,000 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 1,00,000 (5.02%) |
| Other Shares Offered | 9,47,000 (47.49%) |
| Retail Shares Offered | 9,47,000 (47.49%) |
| Total Shares Offered | 19,94,001 (100%) |
Spinaroo Commercial IPO Timeline (Tentative Schedule)
Spinaroo Commercial IPO opens on March 28, 2025, and closes on April 3, 2025.
| IPO Open Date | Fri, Mar 28, 2025 |
| IPO Close Date | Thu, Apr 3, 2025 |
| Tentative Allotment | Fri, Apr 4, 2025 |
| Initiation of Refunds | Mon, Apr 7, 2025 |
| Credit of Shares to Demat | Mon, Apr 7, 2025 |
| Tentative Listing Date | Tue, Apr 8, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 3, 2025 |
Spinaroo Commercial IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹1,02,000 |
| Retail (Max) | 1 | 2000 | ₹1,02,000 |
| HNI (Min) | 2 | 4,000 | ₹2,04,000 |
| Lot Size Calculator | |||
Spinaroo Commercial IPO Promoter Holding
| Share Holding Pre Issue | 66.67% |
| Share Holding Post Issue | 47.66% |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
About Spinaroo Commercial Limited
Incorporated in August 17, 2012, Spinaroo Commercial Limited is engaged in the manufacturing of aluminum foil containers, aluminum home foil, paper cups, paper plates, paper bowls, and semi-processed materials for paper cups, including paper coating, printing, and blanking.
They also offer a range of paper cup-related machinery, such as high-speed paper cup-making machines, flexo printing machines, and automatic roll die-cutting machines, providing comprehensive end-to-end support.
The company offers a wide range of high-quality products made from superior raw materials. These are manufactured under expert guidance, ensuring exceptional performance, competitive pricing, and timely delivery to meet client specifications.
Business Segment:
- Manufacturing: The company manufactures aluminum home foils, containers, and paper products like cups, plates, and bowls using high-quality, food-grade materials. It also sells semi-finished raw materials after processing and modification.
- Trading: The company manufactures aluminum foils, containers, and paper products using high-quality, food-grade materials. It also sells semi-finished raw materials for paper cups, plates, and bowls after processing and modification.
- Job Work: The company provides specialized job work services, including processing, shaping, and printing on paper products. It also offers coating services using food-grade materials, tailored to customer specifications and needs.
As on October 31, 2024, the company has 35 employees.
Competitive Strengths:
- Strategic Advantage of Dual Manufacturing Units within the Same Industrial Complex
- Expertise-Driven Leadership with a Vision for Growth
- Innovation and Efficiency through a Dedicated R&D Team
- Commitment to Quality Assurance and Standards.
- Establishing long-term client relationships and driving repeat business
- Backward Integration
Company Financials
Spinaroo Commercial Limited Financial Information (Restated Standalone)
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 21.94 | 19.05 | 19.48 | 17.82 |
| Revenue | 21.02 | 41.21 | 53.19 | 47.58 |
| Profit After Tax | 0.61 | 1.4 | 0.93 | 0.52 |
| Net Worth | 6.64 | 6.03 | 4.63 | 3.7 |
| Reserves and Surplus | 1.64 | 5.03 | 3.63 | 2.7 |
| Total Borrowing | 7.43 | 7.52 | 8.43 | 8.99 |
| Amount in ₹ Crore | ||||
Key Performance Indicator (KPI)
The market capitalization of Spinaroo Commercial IPO is Rs 35.67 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.23% |
| ROCE | 37.58% |
| Debt/Equity | 1.25 |
| RoNW | 23.23% |
| PAT Margin | 3.40 |
| Price to Book Value | 0.85 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.80 | 1.76 |
| P/E (x) | 18.21 | 29.01 |
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.
Objects of the Issue (Spinaroo Commercial IPO Objectives)
The Company Spinaroo Commercial IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Working Capital Requirements | 71.28 |
| 2 | General Corporate Expenses | 20 |
Spinaroo Commercial IPO Review (Avoid)
[Dilip Davda] SCL is engaged in the manufacturing and marketing of aluminium foil products, paper cups, paper plates and related matters. It marked inconsistency in its reported financial performances. Based on recent financial data, the issue appears aggressively priced. It is operating in a highly competitive and fragmented segment. Small post-IPO equity capital indicates longer gestation period for migration. This “High Risk/Low Return” pricey bet may be skipped. Read detail review…
Spinaroo Commercial IPO Subscription Status (Bidding Detail)
The Spinaroo Commercial IPO is subscribed 0.19 times on April 1, 2025 10:54:33 AM (Day 2). The public issue subscribed 0.34 times in the retail category, [.] times in the QIB category, and 0.05 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| NII* | 0.05 | 9,47,000 | 44,000 | 0 |
| Retail | 0.34 | 9,47,000 | 3,20,000 | 0 |
| Total | 0.19 | 18,94,001 | 3,64,000 | 176 |
Total Application : 176
*Market Maker portion is not included to NII/HNI.
Spinaroo Commercial IPO Prospectus
Spinaroo Commercial Limited Contact Details
Spinaroo Commercial Limited
Jalan Industrial Complex Gate-1,
Right Lane-6, P.O. Jangalpur,
Begri Gram Panchayat, Howrah 711 411
Phone: +91 96747 03249
Email: compliance@spino.co.in
Website: http://www.spino.co.in/
Spinaroo Commercial IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
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