Spinaroo Commercial Limited IPO

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Spinaroo Commercial Limited is engaged in the manufacturing and trading of a wide range of eco-friendly packaging products and machinery.

The company’s product portfolio includes:
i. Aluminium Products :- Aluminium Foil Containers and Aluminium Home Foils.
ii. Paper-Based Products :- Paper Cups, Paper Plates, Paper Bowls and Semi-Processed Materials for Paper Cups (Coating, Printing, Blanking, etc.)
iii. Machinery :- High-Speed Paper Cup Making Machines, Flexo Printing Machines, Automatic Roll Die Cutting Machines and other end-to-end paper cup related machinery with technical support.

Market Presence & Clientele:

i. Domestic Reach: Spinaroo has a diverse clientele across 12 Indian states and 2 Union Territories.
ii. International Expansion: The company has made its first international breakthrough in Bhutan, laying the foundation for its global ambitions.

Spinaroo Commercial Limited is positioning itself as a leading player in the sustainable packaging and food-service industry, with a focus on:
i. Strengthening its manufacturing capabilities.
ii. Increasing product innovation.
iii. Expanding market share domestically and internationally.
iv. Delivering sustainable and value-driven solutions.

Objects of the Spinaroo Commercial Limited IPO:

The Company Spinaroo Commercial IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: i. Working Capital Requirements. ii. General Corporate Expenses.
DRHP of Spinaroo Commercial Limited IPO
RHP of Spinaroo Commercial Limited IPO

Spinaroo Commercial Limited IPO Details:

Open Date: Mar 28 2025
Close Date: Apr 03 2025
Total Shares: 19,94,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 10.17 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 51 Per Equity Share
Listing At: BSE SME
Listing Date: Apr 08 2025

Promoters And Management:

Mr. Aditya Todi, 50, is the Promoter and Managing Director of the Company. With a B.Com degree and 25+ years of industry experience, he has been actively involved since 2014 and was appointed MD on August 29, 2024. Mr. Amit Sultania, 47, is the Promoter, Executive Director, and CFO of the Company. A B.Com graduate and CA Foundation qualifier, he has 16+ years of experience in CNF operations, marketing, and finance. He joined the Company in 2014, overseeing manufacturing and finance, and was appointed Executive Director & CFO on August 26, 2024. Mr. Pushp Deep Rungta, 28, is the Non-Executive Director of the Company. A Chartered Accountant and CFA, he is a graduate of St. Xavier’s College, Kolkata, and brings over 5 years of experience in accounting, auditing, finance, and taxation. He joined the Company on May 30, 2024.

Financials of Spinaroo Commercial Limited IPO:

In Cr.
Particulars Sep 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 21 41 53 47
EBITDA 1 3 2 2
EBITDA Margin 6.33% 7.33% 4.25% 4.83%
PAT 0.6 1.4 0.9 0.5
PAT Margin 2.93% 3.40% 1.75% 1.09%
RONW 9.25% 23.23% 20.10% 14.03%
CFOA 0.4 0.9 1.8 1.2
D/E Ratio 1.11 1.22 1.73 2.33

Comparison With Peers:

Note :- There are no listed companies in India that are engaged in a business similar to this company

Recommendation on Spinaroo Commercial Limited IPO:

To be updated shortly.

Lead Manager of Spinaroo Commercial Limited IPO:

  1. Finshore Management Services Limited

Registrar of Spinaroo Commercial Limited IPO:

  1. Cameo Corporate Services Limited

Company Address:

Spinaroo Commercial Limited Jalan Industrial Complex Gate-1, Right Lane-6, P.O. Jangalpur, Begri Gram Panchayat, Howrah 711 411 Phone: +91 96747 03249 Email: compliance@spino.co.in Website: http://www.spino.co.in/

Discussion on Spinaroo Commercial Limited IPO:

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