Despite the lukewarm GMP, investor interest in the issue remained strong. The IPO was subscribed a healthy 65.09 times overall, led by 117.81 times subscription in the HNI segment and 68.74 times in the retail category, while Qualified Institutional Buyers (QIBs) pitched in with 18.76 times subscription.
The issue was entirely a fresh issue of 36.48 lakh shares, with the company planning to use the proceeds for capital expenditure, working capital, and general corporate purposes. Ahead of the IPO, Sellowrap raised Rs 8.59 crore from anchor investors.
Headquartered in Gurugram, Sellowrap Industries manufactures adhesive and non-adhesive components for automotive and white goods sectors, offering plastic injection moulding parts, PU foam mouldings, screen sealing components, and EPP mouldings.
Its clients include marquee domestic and global OEMs, supported by four manufacturing units** spread across Gurugram, Ranipet, Kancheepuram, and Pune.
The company reported a 17% growth in revenue to Rs 163 crore and a 68% jump in net profit to Rs 9.97 crore for FY25.Investors and analysts now await the listing to see whether the scrip can outperform modest grey market expectations and deliver a stronger-than-predicted debut.
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