Global Pet Industries IPO Final Subscription Details

Global Pet Industries IPO closed on Monday, 03rd July 2023. The IPO had opened for subscription on 28th June 2023. Let us look at the final subscription status of Global Pet Industries Ltd at the close of subscription on 03rd July 2023.

A quick word on Global Pet Industries Ltd and the SME IPO

Global Pet Industries IPO, is an SME IPO on the NSE which opened on 28th June 2023. Global Pet Industries Ltd, was incorporated in 2013 to manufacture and export 2-stage PET-stretch Blow Moulding Machines. These machines are used in the manufacture of a complete range of PET bottles ranging from 50 ML bottles to 20 Litre bottles. These PET bottles are made of resistant plastic and used as fridge bottles and for storing mineral water, carbonated soft drinks and hot juices. PET bottles are also in the storage of edible oils, liquid detergents, cosmetic products, and confectionary.

The Blow Moulding Machines manufactured by Global Pet Industries are customized to cater to various capacities and to different chemical resistance needs. It also provides after sales service and necessary accessories for repairs and maintenance of machinery. The company has 2 production plants at Palghar, near Mumbai. Its international exports division exports to over 19 global markets with some of its major markets being Ghana, Haiti, Kenya, Mozambique, Nigeria, Nepal, Qatar, South Africa, Tanzania etc.

The ₹13.23 crore IPO of Global Pet Industries Ltd comprised entirely of a fresh issue with no offer for sale component. The total SME IPO of Global Pet Industries Ltd entails issue of 27 lakh shares which at the fixed IPO price of ₹49 per share aggregates to ₹13.23 crore. The stock has a face value of ₹10 and retail bidders can bid in minimum lot size of 3,000 share each. Thus, the minimum investment of ₹147,000 in the IPO is the base limit. That is also the maximum that a retail investor can apply for in the IPO.

HNIs can invest in 2 lots of 6,000 shares worth ₹294,000 as the bare minimum investment. There is no upper limit for the HNI / NII category. Global Pet Industries Ltd will deploy the funds for working capital needs of the company and for creating awareness and visibility of the brands. Post the IPO, the promoter equity in the company will get diluted from 100% to 72.41%. The issue is lead managed by Shreni Shares Private Limited, while Bigshare Services Private Ltd will be the registrars to the issue. Let us now turn to the final subscription details of the IPO as of the close of subscription on 03rd July 2023.

Final subscription status of Global Pet Industries Ltd

Here is the subscription status of the Global Pet Industries IPO as at close on 03rd July 2023. The oversubscription has been moderate and not too large considering the small size of the SME IPO.

The issue was only open for retail investors and for the non-retail category of HNI / NIIs. There was a broad quota designed for each of the segments viz. the QIBs, the retail and the HNI NII. The table below captures the allocation reservation done for each of the categories out of the total number of shares offered in the IPO.

There was no  anchor portion in the IPO, so the entire IPO allocation was made to the retail and the HNI / NII investors after setting aside the market making quota.

Day-wise subscription details of Global Pet Industries Ltd

The oversubscription of the IPO was almost equally distributed between the HNI / NIIs followed and the retail investors with a marginal difference between them in terms of the oversubscription of the IPO. The table below captures the day-wise progression of the subscription status of Global Pet Industries Ltd IPO.

It is clear from the above table that as of the close of the first two days, the retail portion and the HNI / NII portion remained undersubscribed and obviously as did the overall IPO. The entire oversubscription only came in on the last day of the IPO.. All the categories of investors viz., HNIs / NIIs and retail categories saw good traction and build up of interest on the last day of the IPO. There is an allocation of 138,000 shares to Shreni Shares Private Limited for market making, which has been carved out of the HNI / NII quota.

The IPO of Global Pet Industries Ltd opened for subscription on 28th June 2023 and closed for subscription on 03rd July 2023 (both days inclusive). The basis of allotment will be finalized on 06th July 2023 and the refunds will be initiated on 07th July 2023. In addition, the demat credits are expected to happen on 10th July 2023 and the stock is scheduled to list on 11th July 2023 on the NSE SME segment. This is the segment, in contrast to the mainboard, where IPOs of small and medium enterprises (SMEs) are incubated.