GSM Foils IPO

Incorporated in April 2019, GSM Foils Limited manufactures Blister Foils and Aluminium Pharma Foils, also known as "Strip Foils," used for packaging pharmaceutical medicines such as capsules and tablets. These foils are primary packaging materials that come into direct contact with the medicine, so utmost care is taken to ensure their quality. The company has established a manufacturing facility at Sapphire Building in Thane, Vasai, Maharashtra, covering an area of 7,973 square feet across the ground plus 3 floors. The manufacturing facilities are fully equipped with tools, machinery, and amenities necessary to support seamless manufacturing processes, hassle-free production, quality testing, research, storage, and packaging. The company is ISO 9001:2015 certified company. The company has a presence across India with clients in 13 states and 1 Union territory in the domestic market. As of February 28, 2024 the company has 39 employees on payroll basis.

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: Funding of capital expenditure towards the purchase of Plant and Machineries. Funding Working Capital Requirements of the company. General corporate purposes.

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