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09 Nov 2024
Three M Paper Boards Limited IPO
Three M Paper Boards manufactures recycled paper-based Duplex Board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets. Their products are made of 100 per cent recycled waste paper and are completely biodegradable. The company sets out to undertake various innovations in both the product-development side as well as in manufacturing processes consistently.
Three M Paper Boards IPO is a book-built issue of Rs 39.83 crores. The issue is entirely a fresh issue of 57.72 lakh shares. Three M Paper Boards IPO opens for subscription on July 12, 2024 and closes on July 16, 2024. Three M Paper Boards IPO price band is set at ₹67 to ₹69 per share. The minimum lot size for an application is 2000 Shares. Comfort Securities Limited is the book-running lead manager of the Three M Paper Boards IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Three M Paper Boards IPO is Comfort Securities.
Three M Paper Boards IPO Overview
| Detail | Description |
|---|---|
| IPO Date | July 12, 2024 to July 16, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹67 to ₹69 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,772,000 shares (aggregating up to ₹39.83 Cr) |
| Fresh Issue | 5,772,000 shares (aggregating up to ₹39.83 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 13,465,360 |
| Shareholding post issue | 19,237,360 |
| Market Maker portion | 290,000 shares Comfort Securities |
Three M Paper Boards IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Friday, July 12, 2024 |
| IPO Close Date | Tuesday, July 16, 2024 |
| Basis of Allotment | Thursday, July 18, 2024 |
| Initiation of Refunds | Friday, July 19, 2024 |
| Credit of Shares to Demat | Friday, July 19, 2024 |
| Listing Date | Monday, July 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 16, 2024 |
Three M Paper Boards IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹138,000 |
| Retail (Max) | 1 | 2000 | ₹138,000 |
| HNI (Min) | 2 | 4,000 | ₹276,000 |
Three M Paper Boards IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Three M Paper Boards IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 70.00% |
Three M Paper Boards IPO Anchor Investors Details
| Bid Date | July 11, 2024 |
| Shares Offered | 1,642,000 |
| Anchor Portion Size (In Cr.) | 11.33 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 17, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 16, 2024 |
Company & Financials
Founded in July 1989, Three M Paper Boards Limited manufactures high-quality recycled paper-based Duplex Board products for packaging applications across various industries, including food and beverage, pharmaceuticals, cosmetics and consumer goods. The company supplies its products in both domestic and international markets. The company is based in Mumbai, with a manufacturing facility in Chiplun, Dist. Ratnagiri, and Maharashtra. It has a manufacturing capacity of 72,000 TPA of paper as of FY 2022-23. The company has about 25 dealers spread across India, ensuring our presence nationwide with a strong distribution network. The company specializes in manufacturing recycled paper-based Duplex Board products for packaging in industries like food, beverage, pharmaceuticals, cosmetics and consumer goods, catering to both domestic and international markets. The company shipped its products to over 15 countries in the Asia-Pacific, Middle East, the Mediterranean and African regions. This shows that TMP's high-quality products meet global standards.
Three M Paper Boards Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 19,519.88 | 18,942.55 | 18,150.44 | 14,225.50 | ||||||||||||||||||||||||||||||||||||
| Revenue | 27,601.56 | 32,974.92 | 31,600.49 | 16,552.14 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 1,134.72 | 661.53 | 327.56 | 172.63 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 6,110.39 | 4,725.67 | 4,064.14 | 3,736.58 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 4,763.85 | 4,070.65 | 3,409.12 | 3,081.56 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 7,264.08 | 8,182.40 | 7,802.06 | 5,353.41 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.57% |
| ROCE | 19.71% |
| Debt/Equity | 1.19 |
| RoNW | 18.51% |
| P/BV | 1.52 |
| PAT Margin (%) | 4.11 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.43 | 5.9 |
| P/E (x) | 8.19 | 11.7 |
Objectives of Three M Paper Boards IPO
The Company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- 1. Capital expenditure for installation of new machinery, modernisation of certain processes under existing manufacturing facilities and installation of plastic-fired low-pressure boilers.
- 2. Funding long-term working capital requirements of the Company.
- 3. Prepayment or repayment of all or a portion of outstanding borrowing availed by the Company.
- 4. General corporate purposes.
Three M Paper Boards IPO Review
The company is operating in a highly competitive and fragmented segment. It marked growth in its top lines from FY21 to FY23 with the commensurate surge in its bottom lines, but for FY24 it posted bumper profits on the declined top line, which not only raises eyebrows but also concerns over its sustainability going forward. Based on FY24 super earnings, the issue appears fully priced. Currently, we are witnessing fancy for the paper segment counters. Well-informed investors may park moderate funds for the medium term.
FAQs for Three M Paper Boards IPO
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What is the Three M Paper Boards IPO?
Three M Paper Boards IPO is a BSE SME IPO. They are going to raise ₹39.83 Crores via IPO. The issue is priced at ₹67 to ₹69 per equity share. The IPO is to be listed on BSE.
-
When will the Three M Paper Boards IPO open?
The IPO is to open on July 12, 2024, for QIB, NII, and Retail Investors.
-
What is Three M Paper Boards IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Three M Paper Boards IPO Size?
Three M Paper Boards IPO size is ₹39.83 crores.
-
What is the Three M Paper Boards IPO Price Band?
Three M Paper Boards IPO Price Band is ₹67 to ₹69 per equity share.
-
What is Three M Paper Boards IPO Minimum and Maximum Lot Size?
The IPO bid is 2000 shares with ₹138,000.
-
What is the Three M Paper Boards IPO Allotment Date?
Three M Paper Boards IPO allotment date is July 18, 2024.
-
What is the Three M Paper Boards IPO Listing Date?
Three M Paper Boards IPO listing date is July 22, 2024. The IPO to list on BSE SME.
RHP:
RHP of Three M Paper Boards Limited IPO
DRHP:
DRHP of Three M Paper Boards Limited IPO
-
What is the Three M Paper Boards IPO?
Three M Paper Boards IPO is a BSE SME IPO. They are going to raise ₹39.83 Crores via IPO. The issue is priced at ₹67 to ₹69 per equity share. The IPO is to be listed on BSE.
-
When will the Three M Paper Boards IPO open?
The IPO is to open on July 12, 2024, for QIB, NII, and Retail Investors.
-
What is Three M Paper Boards IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Three M Paper Boards IPO Size?
Three M Paper Boards IPO size is ₹39.83 crores.
-
What is the Three M Paper Boards IPO Price Band?
Three M Paper Boards IPO Price Band is ₹67 to ₹69 per equity share.
-
What is Three M Paper Boards IPO Minimum and Maximum Lot Size?
The IPO bid is 2000 shares with ₹138,000.
-
What is the Three M Paper Boards IPO Allotment Date?
Three M Paper Boards IPO allotment date is July 18, 2024.
-
What is the Three M Paper Boards IPO Listing Date?
Three M Paper Boards IPO listing date is July 22, 2024. The IPO to list on BSE SME.
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