The scrip was listed at Rs 51.45, a premium of 5% over the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% compared to its listing price. The counter hit a high of Rs 51.75 and a low of Rs 48.90. About 16.29 lakh shares of the company changed hands at the counter. Premium Plast's IPO was subscribed 36.96 times. The issue opened for bidding on 21 October 2024 and it closed on 23 October 2024. The price band of the IPO was set at Rs 46 to Rs 49 per share. The IPO comprised fresh issue of 53,46,000 shares. The promoter and promoter group shareholding diluted to 68.73% from 95.45% pre-IPO. The company intends to utilize the net proceeds for expansion of existing manufacturing facility at Pithampur, Madhya Pradesh and purchase of machineries, funding of capital expenditure towards set up of rooftop on grid solar power plant at its existing manufacturing facility, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and general corporate purpose. Premium Plast engaged in design, manufacturing and supply, exterior plastic components, interior cabin components, under the hood components to commercial vehicle OEMs directly. The company's manufacture a wide variety of injection and blow moulded plastic articles for a broad group of industries and applications. It manufactures automobile components for commercial vehicles of the 'Volvo Group'. As of 30th September 2024, the company had 42 employees. The company recorded revenue from operations of Rs 12.12 crore and net profit of Rs 1.41 crore for the period as on 30 June 2024. Powered by Capital Market - Live