Spinaroo Commercial IPO – Day 4 Subscription at 0.54 Times

Categories: Markets

April 3, 2025

Spinaroo Commercial’s initial public offering (IPO) has shown modest progress through its four-day subscription period. The ₹10.17 crore IPO has witnessed gradual growth in demand, with subscription rates advancing from 0.16 times on day one, remaining at 0.18 times on day two, improving to 0.31 times on day three, and reaching 0.54 times by 11:39 AM on the final day, demonstrating limited investor interest in this manufacturer of aluminum foil containers, paper cups, plates, bowls, and related machinery.

Spinaroo Commercial IPO retail segment leads with 0.80 times subscription, approaching but not reaching full subscription, while non-institutional investors show minimal interest at 0.29 times, reflecting cautious investor approach toward this company that operates manufacturing units producing aluminum home foils, containers, and paper products using food-grade materials.

Subscription Status of Spinaroo Commercial IPO:

Date	NII	Retail	Total
Day 1 (Mar 28)	0.02	0.30	0.16
Day 2 (Apr 1)	0.02	0.34	0.18
Day 3 (Apr 2)	0.02	0.60	0.31
Day 4 (Apr 3)	0.29	0.80	0.54

Here are the subscription details for Spinaroo Commercial IPO as of Day 4 (April 3, 2025, 11:39 AM):

Investor Category	Subscription (times)	Shares Offered	Shares bid for	Total Amount (Rs Cr.)
Market Maker	1.00	1,00,000	1,00,000	0.51
Non-Institutional Buyers	0.29	9,47,000	2,76,000	1.41
Retail Investors	0.80	9,47,000	7,54,000	3.85
Total	0.54	18,94,001	10,30,000	5.25
Total	1.82	29,71,201	53,98,400	3,333

Note:

“Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.
The portions of anchor investors and market maker are not included in the total shares offered.

Spinaroo Commercial IPO – Day 4 Subscription

Key Highlights:

Overall subscription reached 0.54 times, showing moderate progress though below full subscription
Retail investors showing highest interest at 0.80 times subscription, leading overall demand
NII segment showing limited interest at 0.29 times, though significant improvement from previous days
Total applications reaching 441, indicating moderate investor participation
Cumulative bid amount reaching ₹5.25 crores, about 52% of the issue size
Retail segment driving overall subscription with ₹3.85 crores in bids, representing 73% of total bids
Final day showing notable improvement in NII interest after three days of minimal participation

Spinaroo Commercial IPO – Day 3 Subscription at 0.31 Times

Key Highlights:

Overall subscription improved to 0.31 times, showing moderate growth from previous days
Retail investors showed increased interest at 0.60 times, doubling day two’s 0.34 times
NII segment remained unchanged at 0.02 times, showing continued minimal interest
Day three momentum building gradually with retail investor participation driving growth
Market response indicating selective interest focused primarily on retail segment
Aluminum and paper product manufacturing expertise drawing limited retail investor attention
Third day showing continued modest progress toward subscription goals

Spinaroo Commercial IPO – Day 2 Subscription at 0.18 Times

Key Highlights:

Overall subscription improved marginally to 0.18 times, showing limited growth from day one
Retail investors showed slight improvement to 0.34 times from day one’s 0.30 times
NII segment remained unchanged at 0.02 times, showing continued minimal interest
Day two momentum building very gradually with minimal change from opening day
Market response indicating cautious approach across investor categories
Packaging manufacturing sector generating limited early investor enthusiasm
Second day maintaining steady but modest subscription levels

Spinaroo Commercial IPO – Day 1 Subscription at 0.16 Times

Overall subscription opened at 0.16 times, showing cautious initial investor approach
Retail investors began with limited interest at 0.30 times, showing modest early participation
NII segment showed minimal initial interest at 0.02 times, reflecting very cautious evaluation
Opening day demonstrated selective investor engagement concentrated in retail segment
Initial momentum reflecting measured assessment of aluminum and paper packaging sector
Manufacturing expertise drawing limited selective interest from retail investors
First day setting subscription baseline at modest levels for subsequent days

About Infonative Solutions Limited

Founded in 2014, Infonative Solutions Limited specializes in custom learning development solutions for corporate and educational sectors. The company designs and develops e-learning content and services, including cloud-based learning management systems (LMS) and related products with expertise in instructional design, gamification, AR/VR-based content, and software simulations.

Financial performance shows solid results with revenue of ₹18.08 crores in FY2024 and profit of ₹1.45 crores, while the six months ended September 2024 showed improved performance with revenue of ₹11.42 crores and profit of ₹3.64 crores. With 157 employees as of September 2024, the company’s competitive strengths include their experienced promoters and qualified management, scalable business model, commitment to meeting market needs, and expanding off-the-shelf library of content.