Spunweb Nonwoven shares list with a stellar 57% premium at ₹151 on NSE SME, hits upper circuit thereafter

Spunweb Nonwoven IPO listing: Spunweb Nonwoven share price made strong returns for its initial public offering (IPO) investors, as the scrip listed at a whopping 57% premium on the NSE SME on Monday, July 21, and thereafter climbed to its upper price band amid strong demand from investors.

Spunweb Nonwoven share price listed at ₹151, marking a steep 57% premium over the upper band of the offer price of ₹96.

Spunweb Nonwoven shares, indicating strong investor confidence, gained further to an intraday high of ₹158.55 on the NSE SME, which also happened to be the 5% upper price band for the newly-listed stock.

Spunweb Nonwoven IPO had seen strong investor confidence, as was reflected in the subscription status and grey market premium (GMP).

Spunweb Nonwoven IPO was subscribed 251.32 times by the end of the third day. The public offer was subscribed 251.84 times by individual investors, 165.43 times by QIBs, and 364.58 times by NIIs.

Spunweb Nonwoven IPO GMP stood at +43. This meant that the Spunweb Nonwoven shares were available at a ₹43 premium over the issue price of ₹96 in the grey market. The same also means that the market participants were expecting listing at a premium of ₹43 or 44.8% at around ₹1139 apiece. Thus, the Spunweb Nonwoven share was listed ahead of investor expectations.

Spunweb Nonwoven Limited, founded in 2015, is a manufacturer and supplier of nonwoven textiles that are predominantly utilised in applications such as doormats, bags, carpets, and tarps. They are known for their quality control system, which involves testing, inspection, and analysis to assure high-quality products.

The company produces nonwoven, laminated, and UV-treated nonwoven fabrics.

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