Ahead of the IPO opening, the GMP is around 36% over the issue price
The IPO is seeing strong interest in the informal market, with a grey market premium (GMP) of 36%, suggesting a potential listing price of Rs 130 or higher. Investors can apply for a minimum of 2,400 shares, amounting to ₹2.30 lakh, making it suitable primarily for well-funded retail and HNI investors.
Spunweb, incorporated in 2015 and based in Rajkot, Gujarat, manufactures nonwoven fabric used across hygiene, medical, packaging, agriculture, and construction industries.
Over 65% of its revenue comes from the hygiene segment. The company exports to multiple countries including the USA, UAE, Italy, Egypt, and Saudi Arabia, and has built strong client relationships with brands such as Millennium Babycares, RGI Meditech, and Myra Hygiene.
Financially, the company has posted solid growth. In FY25, it saw a 47% jump in revenue and 98% growth in profit, with EBITDA nearly doubling year-on-year.The IPO proceeds will be used for working capital needs, investment in its subsidiary SIPL, and partial debt repayment.
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