Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The SME IPO of Three M Paper Boards commenced subscription earlier today and is scheduled to close on July 16.
The company plans to raise approximately Rs 40 crore through the issuance and intends to list the shares on the BSE SME platform.
Here are 10 essential details investors should consider before participating in the offering.
The IPO comprises entirely fresh equity, totaling 57.72 lakh shares, aimed at raising Rs 40 crore.
Investors can bid for shares at Rs 67-69 each, with 2,000 shares constituting one lot.
In the unlisted market, the company's shares are currently trading at a GMP of Rs 32, indicating a potential listing gain of approximately 46% if current trends persist.
The company specializes in manufacturing recycled paper-based coated Duplex Board products used widely in packaging applications across sectors such as food and beverage, pharmaceuticals, cosmetics, and consumer goods. It supplies its products both domestically and internationally.
The Indian paper industry holds a significant position globally, contributing around 5% to global paper production. With an estimated turnover exceeding Rs 80,000 crore, it contributes approximately Rs 5,000 crore to the national exchequer.
For the fiscal year ending March 2024, the company reported total revenues of Rs 276 crore and a net profit of Rs 11.3 crore.
Proceeds from the IPO will be utilized for capital expenditure, including the installation of new machinery and modernization of existing processes, as well as for working capital requirements, debt repayment, and general corporate purposes.
Comfort Securities is managing the issue as the lead manager, while Bigshare Services will act as the registrar.
The IPO reserves 50% for QIB investors, 35% for retail investors, and the remaining 15% for non-institutional investors.
The IPO opened on July 12 and will close on July 16. Final allotments are expected on July 18, with the listing likely to occur on July 22.
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