NSE SME Creative Graphics Solutions India pops on listing

Shares of Creative Graphics Solutions India were quoting at Rs 169 on the NSE, a premium of 98.82% compared with the issue price of Rs 85.

The scrip was listed at Rs 175, a premium of 105.88% compared with the initial public offer (IPO) price. The stock is currently down 3.43% over its listing price.

The counter hit a high of Rs 183.75 and a low of Rs 167.10. About 33.18 lakh shares of the company changed hands at the counter.

Creative Graphics Solutions India's IPO was subscribed 134.29 times. The issue opened for bidding on 28 March 2024 and it closed on 4 April 2024. The price band of the IPO was fixed at Rs 80 to 85 per share.

The IPO comprised fresh issue of 64,00,000 shares. The promoter and promoter shareholding diluted to 67.83% from 92.10% pre-IPO.

The company intends to utilise the net proceeds to meet out the working capital requirements of company repayment and prepayment, in part or full, of certain of our borrowings, the capital expenditure of company, the inorganic growth through unidentified acquisition for company and for general corporate expenses.

Ahead of the IPO, Creative Graphics Solutions India on 27 March 2024, raised Rs 1.55 crore from anchor investors. The board allotted 18.24 lakh shares at Rs 85 per share to 8 anchor investor.

Creative Graphics Solutions India is a leading manufacturer of flexographic printing plates in India. They cater to both domestic and international clients, including those in Africa, Thailand, and the Middle East. The company boasts a prestigious client list and has expanded its services through two subsidiaries. Creative Graphics Solutions India employs over 400 people as of March 2024.

The company recorded revenue from operations of Rs 48.07 crore and net profit of Rs 724.07 crore for the period as on 30 September 2023.

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