GSM Foils Limited IPO


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24th – 28th May 2024
31 May 2024
₹32 – ₹32
4000 shares (₹128000)


GSM Foils Limited is launching its IPO. The IPO opens for subscription on 24th May and will close on 28th May 2024.

Disclaimer: This stock will trade with a lot size of 4000 shares in the SME segment on the listing.

What does GSM Foils Limited do?

Incorporated in April 2019, GSM Foils Limited produces Blister Foils and Aluminium Pharma Foils, also referred to as “Strip Foils.” These primary packaging materials are used for enclosing pharmaceuticals like capsules and tablets and are manufactured with the highest care to maintain quality, as they directly contact the medicine.

The company’s manufacturing facility is located in Sapphire Building, Diamond Industrial Estate, Vasai East IE, Thane, Maharashtra. Occupying an area of 7,973 square feet distributed over four levels, the facility is equipped to handle comprehensive production processes from manufacturing to quality testing. This setup ensures the maintenance of high standards in production, which is critical given the direct contact of the foils with pharmaceutical products. Serving clients across 13 states and one union territory in India, the company has a broad domestic reach that emphasizes its role in the pharmaceutical packaging industry. It has an ISO 9001:2015 certification, affirming its adherence to quality standards.

Schedule/Timeline of GSM Foils Limited IPO

Issue Period 24th May to 28th May 2024
Deadline for accepting UPI mandate  Until 5 PM on the issue closing day
Finalization of Allotment May 29, 2024
Initiation of Refunds May 30, 2024
Credit of Shares May 30, 2024
Date of Listing May 31, 2024
Mandate end date June 12, 2024
Anchor Investors Lock-In End Date (50% of the investment) June 28, 2024
Anchor Investors Lock-In End Date (Remaining investment) August 27, 2024

Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.

How do I apply to the GSM Foils Limited IPO?

You can apply for the GSM Foils Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for GSM Foils Limited IPO?

You can check the allotment status for the GSM Foils Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.