Thaai Casting Limited IPO GMP

Thaai Casting Limited, a renowned player in the automotive components sector, is all set to make its mark on the NSE SME Exchange with an Initial Public Offering (IPO). This IPO, slated to be open from February 15 to February 19, 2024, holds significant promise for investors eyeing opportunities in the burgeoning SME segment of the stock market. Let’s delve deeper into the particulars of this IPO and explore what it entails for prospective investors.

IPO Details

Thaai Casting’s IPO presents an intriguing investment opportunity with a face value of Rs 10 per share. The issue price for this IPO falls within the range of Rs 73 to Rs 77 per share, with a minimum lot size of 1600 shares or its multiple. This sets the stage for a dynamic entry into the stock market, inviting investors to partake in the company’s growth journey.

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Thaai Casting SME IPO GMP

The Grey Market Premium (GMP) for Thaai Casting’s SME IPO provides valuable insights into market sentiment and expectations regarding the IPO’s performance post-listing. As of the latest update, the GMP stands at Rs 80, indicating a positive outlook among market participants. With the IPO price band set at Rs 77, the estimated listing price is projected to reach Rs 157, reflecting a potential gain of 103.9% per share. This underscores the optimism surrounding Thaai Casting’s debut on the stock exchange.

Thaai Casting Day-wise IPO GMP Trend

Here’s a comprehensive overview of Thaai Casting’s day-wise IPO GMP trend: [ Last Updated: 22 Feb, 2024; 16:50]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
22-02-2024Rs 77.00₹8097300₹157 (103.9%)
21-02-2024Rs 77.00₹7591200₹152 (97.4%)
20-02-2024Rs 77.00₹7085100₹147 (90.91%)
19-02-2024Rs 77.00₹6882700₹145 (88.31%)
18-02-2024Rs 77.00₹74 90000₹151 (96.1%)
17-02-2024Rs 77.00₹7287600₹149 (93.51%)
16-02-2024Rs 77.00₹85 103400₹162 (110.39%)
15-02-2024Rs 77.00₹2429200₹101 (31.17%)
14-02-2024Rs 77.00₹2429200₹101 (31.17%)
13-02-2024Rs 77.00₹2429200₹101 (31.17%)
12-02-2024Rs 77.00₹2024300₹97 (25.97%)
11-02-2024Rs 77.00₹0₹(0%)

This table illustrates the evolving dynamics of Thaai Casting’s IPO GMP, providing valuable data for investors to gauge market sentiment leading up to the IPO listing.

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IPO Grey Market Premium (GMP)

The grey market premium serves as an unofficial indicator of an IPO’s potential performance upon listing. A positive GMP suggests bullish sentiment, signaling potential profits for investors, while a negative GMP may indicate a discounted IPO. However, it’s essential to recognize the inherent volatility of IPO GMP and exercise prudence when making investment decisions solely based on this metric.

About Thaai Casting

Established in 2010, Thaai Casting Limited specializes in die casting, precision machining of ferrous and non-ferrous materials, and induction heating and quenching. Founded by Sriramulu Anandan, a seasoned professional in die casting and machining processes, the company follows a business-to-business (B2B) model, catering to leading companies in the automotive components sector. Thaai Casting’s diverse product portfolio includes critical automotive components such as engine mounts, transmission mounts, shift forks and housings, steering wheel fittings, electrical connectors, and more.

Also Read: When Can a Company Go for IPO in India

Thaai Casting SME IPO Strengths

  • Continuous improvement through the kaizen process
  • Proficient and experienced workforce
  • Strong leadership
  • Scalable production capabilities
  • Advanced inspection systems ensuring quality
  • Commitment to timely delivery
  • Talent retention strategies ensuring access to specialized skills

Thaai Casting SME IPO Objective

The proceeds from the IPO will primarily be allocated towards:

  • Meeting capital expenditure requirements
  • General corporate purposes
  • Covering issue expenses

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

Thaai Casting SME IPO Dates

Here are the key dates associated with Thaai Casting’s SME IPO:

  • SME IPO Open Date: February 15, 2024
  • SME IPO Close Date: February 20, 2024
  • Basis of Allotment Finalisation Date: February 21, 2024
  • Refunds Initiation Date: February 22, 2024
  • Credit of Shares to Demat Account: February 22, 2024
  • SME IPO Listing Date: February 23, 2024

Conclusion

Thaai Casting Limited’s foray into the NSE SME Exchange presents an exciting opportunity for investors to capitalize on the company’s growth potential. With a strong track record, diverse product portfolio, and strategic allocation of IPO proceeds, Thaai Casting is poised for a successful IPO debut. However, investors are advised to conduct thorough due diligence, considering all factors before making investment decisions. The volatile nature of IPOs necessitates caution, and prudent investment strategies should be employed to mitigate risks and maximize returns in the evolving landscape of the stock market.

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