Utkal Speciality Industries India IPO booked 1.26x so far on first bidding day. Check GMP, issue details | Stock Market News

The Utkal Speciality Industries India initial public offering (IPO) began on Wednesday, 10 June, and will end on Friday, 12 June. The Utkal Speciality Industries India IPO price band is ₹62-66 per equity share, with a face value of ₹10 per share.

Investors can bid for a minimum of 2,000 equity shares, with the option to acquire additional shares in increments of 2,000.

Founded in 2015, Utkal Speciality Industries manufactures paper-based products and packaging materials, serving a wide range of customers across the manufacturing and retail sectors. The company focuses on providing sustainable packaging solutions, benefiting from the increasing shift towards eco-friendly alternatives.

Utkal operates an integrated manufacturing facility and considers its strategic location along the Kolkata–Chennai highway, diversified product portfolio, and lower logistics costs due to proximity to key suppliers in southern India as major competitive strengths.

The company has demonstrated healthy financial growth over the past few years. For FY25, it reported revenue of ₹50.3 crore and a net profit of ₹6.68 crore, more than double the ₹3.24 crore profit recorded in the previous year. EBITDA also rose to ₹9.22 crore from ₹6.19 crore in FY24.

For the nine months ended December 2025, the company posted revenue of ₹40.9 crore and profit after tax of ₹5.48 crore, indicating continued operational momentum.

The IPO is largely focused on retail participation, with 59.4% of the net issue reserved for retail investors. Non-institutional investors (NIIs) have been allocated 39.6% of the issue, while qualified institutional buyers (QIBs) have been allotted 1%.

Utkal Speciality Industries India IPO GMP today is +1. Considering the upper end of the IPO price band and the current grey-market premium, the estimated listing price of Utkal Speciality Industries India shares was ₹67 per share, which is 1.52% above the IPO price of ₹66.

According to the recent five sessions of grey market activities, the present GMP (Re 1) is indicating a downward trend. The lowest recorded GMP is ₹0.00, while the highest is ₹13, according to analysts.

Utkal Speciality Industries India's IPO comprises solely a fresh issue of 52.34 lakh shares, with no offer-for-sale component. After this issue, the company’s shareholding will rise from 1.43 crore shares to 1.95 crore shares.

The proceeds from the IPO will primarily be used for expansion and reducing debt. Approximately ₹11 crore will be allocated to repay or prepay debt, ₹9.6 crore to finance the acquisition of machinery for a new manufacturing unit in Khurda, Odisha, and ₹5.3 crore to working capital needs.

Affinity Global Capital Market serves as the book-running lead manager for the issue, while Cameo Corporate Services is the registrar. Giriraj Stock Broking is designated as the market maker.

The company has received bids for 63,90,000 shares against 50,70,000 shares on offer at 12:04 IST, according to chittorgarh.com.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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