Spunweb Nonwoven Shares Soar with Impressive Market Debut

Spunweb Nonwoven's shares surged over 65% above their issue price upon listing on the NSE's SME platform. The Gujarat-based company, involved in nonwoven fabric manufacturing, attracted significant investor interest, with its IPO being oversubscribed by 251.32 times, reflecting robust demand and confidence in its operations.

Shares of Spunweb Nonwoven, a prominent Gujarat-based manufacturer of nonwoven fabrics, made a stellar debut on the NSE's SME platform, closing the day with a premium of more than 65% over the issue price of Rs 96 per share.

The stock was initially listed at Rs 151 per share, a 57.3% premium, and subsequently ended the session at Rs 158.55, marking a 65.16% increase. The company also reported a market capitalisation of Rs 382.16 crore, significantly bolstered by the day's trading volume of 27.04 lakh shares.

The Rs 61-crore IPO was met with overwhelming enthusiasm, being subscribed 251.32 times by closing. Spunweb Nonwoven specializes in producing polypropylene spunbond nonwoven fabrics with a diverse portfolio catering to sectors like healthcare and hygiene, counting RGI Meditech and Millennium Babycares among its clients.