Creative Graphics Solutions IPO: Check GMP, subscription status on day 1, other key details to know

The issue is 8.00 to 8.50 times of the face value at the lower price band and the upper price band respectively. Creative Graphics IPO has set aside 3.2 lakh for market makers, 9.12 lakh for non-institutional investor (NIIs), 30.4 lakh for qualified institutional buyers (QIBs) (including 18.24 lakh for anchor investors), and 21.28 lakh for the retail portion.

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The IPO garnered ₹15.5 crore on Wednesday, March 27, by selling 18.24 lakh equity shares at a price of ₹85 per. Some of well-known investors, including BofA Securities Europe SA – ODI, QRG Investment and Holdings Limited, Finavenue Capital Trust – Finavenue Growth Fund, Vikasa Global Fund PCC – Eubilia Capital Partners Fund I, Acintyo Investment Fund PCC – Cell 1, Absolute Return Scheme, and Astorne Capital VCC Arven, subscribed to the anchor book.

Pre-press company Creative Graphics manufactures flexographic printing plates, such as letter press plates, metal back plates, coating plates, digital flexo plates, and conventional flexo printing plates. The organization serves clients in Africa, Thailand, Qatar, Kuwait, Nepal, and other countries outside of India.

Through its 2 (two) completely owned subsidiaries, Creative Graphics Premedia Private Limited and Wahren India Private Limited, the company has widened its horizons outside its primary business.

As per the Red Herring Prospectus (RHP), the company believes that none of the listed companies in India offer exclusively the flexographic plates offered by the company. Hence a strict comparison is not possible.

Between March 31, 2022, and March 31, 2023, the company’s profit after tax (PAT) climbed by 85.82%, while the company’s sales increased by 33.63%.

Creative Graphics Solutions IPO subscription status 

The issue has taken off a decent start with retail portion booked about 81%, so far, at 14:15 IST, as per chittorgarh.com. The overall Creative Graphics Solutions IPO subscription status is 45%. The NII portion is booked 20%. 

The company has received bids for 19,07,200 shares against 42,56,000 shares on offer, at 14:15 IST, according to data on chittorgarh.com.

Creative Graphics Solutions IPO details

Creative Graphics Solutions India Limited IPO, worth ₹54.40 crore, consists of a fresh issue of 64,00,000 equity shares with a face value of ₹10. There is no offer-for-sale component.

The net proceeds from the new issue will be used by the company for the following purposes: covering working capital needs; repaying or prepaying some loans in full or in part; funding capital expenditures; funding inorganic growth through unidentified acquisitions for the business; and general corporate expenses.

The company’s promoters are Sarika and Deepanshu Goel.

For the Creative Graphics Solutions India IPO, Corporate Capitalventures Pvt Ltd is the book running lead manager and Bigshare Services Pvt Ltd is the registrar. Ss Corporate Securities has been selected as the market maker. 

Creative Graphics Solutions IPO GMP today

Creative Graphics IPO GMP or grey market premium is +47. This indicates Creative Graphics Solutions share price were trading at a premium of ₹47 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Creative Graphics Solutions share price was indicated at ₹132 apiece, which is 55.29% higher than the IPO price of ₹85.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 28 Mar 2024, 02:35 PM IST