Spinaroo Commercial Limited is launching its Spinaroo Commercial Limited IPO with the following details:
IPO Details:
- Opening Date: March 28, 2025
- Closing Date: April 3, 2025
- Issue Type: Fixed Price Issue
- Issue Size: ₹10.17 crores
- Price per Share: ₹51
- Lot Size: 2,000 shares
- Minimum Investment: ₹102,000
- Retail Quota: 50%
- High Net-worth Individual (HNI) Quota: 50%
- Qualified Institutional Buyers (QIB) Quota: 0%
- Allotment Date: April 4, 2025
- Listing Date: April 8, 2025
- Listing Exchange: BSE
Promoters:
- Mr. Amit Sultania
- Mr. Aditya Todi
- Mrs. Mridula Todi
Financial Performance:
Fiscal Year 2023:
Fiscal Year 2024:
- Revenue: ₹41.21 crores
Company Overview:
Established on August 17, 2012, Spinaroo Commercial Limited specializes in manufacturing aluminum foil containers, aluminum home foil, paper cups, paper plates, and paper bowls.
The company also produces semi-processed materials for paper cups, including paper coating, printing, and blanking. Additionally, they offer a range of paper cup machinery, such as high-speed paper cup-making machines, flexo printing machines, and automatic roll die-cutting machines.
Their manufacturing facilities are located within the Jalan Industrial Complex in Kolkata, Howrah, serving clients across 12 states and 2 Union Territories in India.
Spinaroo Commercial Limited IPO Lot
Here is the Spinaroo Commercial Limited IPO Lot Size details:
| Category | Lot Size (Shares) | Amount (₹) |
| Retail (Minimum) | 2,000 | ₹1,02,000 |
| Retail (Maximum) | 2,000 | ₹1,02,000 |
| HNI – Small | 4,000 | ₹2,04,000 |
| HNI – Large | 10,000+ | ₹510,000+ |
- Minimum Investment for Retail Investors: ₹102,000 (2,000 shares)
- Lot Size increases in multiples of 2,000 shares
About Spinaroo Commercial Limited
- Incorporation: August 17, 2012
- Headquarters: Howrah, West Bengal, India
- Industry: Packaging & Disposable Products Manufacturing
- Business Type: Manufacturing and Distribution
Business Overview:
Spinaroo Commercial Limited specializes in manufacturing and supplying aluminum foil containers, home foil, and disposable paper products such as:
- Paper cups, paper plates, and paper bowls
- Semi-processed materials for paper cups, including paper coating, printing, and blanking
Machinery for paper cup production, including:
- High-speed paper cup-making machines
- Flexo printing machines
- Automatic roll die-cutting machines
The company operates a manufacturing facility in the Jalan Industrial Complex, Howrah, West Bengal, and distributes its products across 12 states and 2 Union Territories in India.
Financial Performance:
- 2023 Revenue: ₹53.19 crores
- 2023 Net Profit: ₹0.93 crores
- 2024 Revenue: ₹41.21 crores
- 2024 Net Profit: ₹1.40 crores
Business Operations:
Spinaroo Commercial Limited is engaged in the manufacturing and sale of disposable packaging solutions, primarily focusing on aluminum and paper-based products. The company supplies to businesses across 12 states and 2 Union Territories in India.
Product Portfolio:
1) Aluminum Products:
- Aluminum foil containers
- Aluminum home foil
2) Paper Disposable Products:
- Paper cups, plates, and bowls
- Semi-processed materials for paper cups (paper coating, printing, blanking)
3) Paper Cup Machinery & Equipment:
- High-speed paper cup-making machines
- Flexo printing machines
- Automatic roll die-cutting machines
Manufacturing Facility:
- Located in Jalan Industrial Complex, Howrah, West Bengal
- Equipped with modern technology for paper and aluminum-based production
Spinaroo Commercial Limited Financial Information
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | Mar 2023 | 31 Mar 2022 |
| Assets | ₹21.94 crores | ₹19.05 crores | ₹19.48 crores | ₹17.82 crores |
| Revenue | ₹21.02 crores | ₹41.21 crores | ₹53.19 crores | ₹47.58 crores |
| Profit After Tax | ₹0.61 crores | ₹1.4 crores | ₹0.93 crores | ₹0.52 crores |
| Net Worth | ₹6.64 crores | ₹6.03 crores | ₹4.63 crores | ₹3.7 crores |
| Reserves and Surplus | ₹1.64 crores | ₹5.03 crores | ₹3.63 crores | ₹2.7 crores |
| Total Borrowing | ₹7.43 crores | ₹7.52 crores | ₹8.43 crores | ₹8.99 crores |
Key Performance Indicator (KPI)
| KPI | Values |
| ROE | 23.23% |
| ROCE | 37.58% |
| Debt/Equity | 1.25 |
| RoNW | 23.23% |
| PAT Margin | 3.40 |
| Price to Book Value | 0.85 |
Objects of the Issue
1) Working Capital Requirements:
- The company aims to utilize a portion of the funds to support its day-to-day operational expenses, ensuring smooth business operations and expansion.
2) General Corporate Purposes:
- Funds will be allocated to cover general business needs, including administrative expenses, marketing, and potential business development activities.
3) Issue Expenses:
- A part of the proceeds will be used to cover IPO-related costs, including legal fees, registrar expenses, underwriting fees, and other associated charges.
These funds will help the company expand its operations, improve efficiency, and strengthen its market position. Let me know if you need more details!
Strengths of Spinaroo Commercial Limited IPO
- Diverse Product Portfolio – The company offers a range of aluminum foil containers, paper cups, plates, and packaging machinery, catering to multiple industries.
- Growing Industry Demand – The increasing use of disposable and eco-friendly packaging solutions boosts the company’s business potential.
- Expanding Market Presence – Spinaroo Commercial operates across 12 states and 2 Union Territories, positioning it well for further expansion.
- Strong Financial Growth – The company has shown steady revenue and profit growth over the last few years.
- Manufacturing Facility – The company owns a production facility in Howrah, West Bengal, reducing dependence on third-party manufacturers.
Risks of Spinaroo Commercial Limited IPO
- Competitive Market – The disposable packaging industry is highly competitive, with large players dominating the space.
- Raw Material Price Fluctuations – Prices of paper and aluminum can be volatile, impacting profit margins.
- Regulatory Challenges – Changes in environmental regulations or restrictions on single-use packaging may affect the business model.
- Working Capital Dependency – The company’s growth depends on maintaining sufficient working capital, which could be a challenge.
- Limited Public Track Record – Being a small-to-medium enterprise (SME) IPO, Spinaroo Commercial has limited visibility compared to larger listed firms.
Conclusion of Spinaroo Commercial Limited IPO
The Spinaroo Commercial Limited IPO presents an opportunity for investors looking to invest in the disposable packaging and machinery sector, which is experiencing steady growth. The company has a diverse product portfolio, a strong market presence across multiple states, and a growing financial track record. Additionally, its own manufacturing facility in Howrah, West Bengal, gives it operational stability.
However, potential investors should consider risks such as industry competition, raw material price fluctuations, and regulatory uncertainties regarding disposable packaging. Being an SME IPO, liquidity may also be lower compared to larger public offerings.
Overall, Spinaroo Commercial Limited’s IPO could be a good investment for those with a medium-to-long-term perspective, particularly if they believe in the future growth of the packaging sector. However, investors should conduct their own due diligence before making any decisions.
Spinaroo Commercial Limited – Contact Details
Registered Office:
Jalan Industrial Complex Gate-1, Right Lane-6,
P.O. Jangalpur, Begri Gram Panchayat,
Howrah – 711 411, West Bengal, India
- Phone: +91 96747 03249
- Email: info@spino.co.in
- Website: www.spino.co.in
Spinaroo Commercial Limited IPO Registrar
Registrar: Cameo Corporate Services Limited
- Address:
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, India
- Phone: +91-44-40020700 / 28460390
- Email: ipo@cameoindia.com
- Website: www.cameoindia.com
The registrar is responsible for handling IPO applications, allotment of shares, refund processing, and investor queries. Let me know if you need further details!
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