Nikita Papers IPO: Check GMP, Day 2 Subscription Status, Price Band And More

The initial public offering of Nikita Papers Ltd., which opened for subscription on May 27 was booked 0.6 times on Day 1. The subscription breakdown is shown below

• Qualified Institutions: 0.43 times

• Non-Institutional Buyers: 0.63 times

• Retail Investors: 0.75 times

Here's all you need to know about the SME IPO of Nikita Papers as bidding resumes on Day 2.

Nikita Papers Ltd. specialises in manufacturing papers suitable for industrial, commercial and printing applications. It is also responsible for producing paper products.

The Nikita Paper IPO price band has been fixed at Rs 94 to Rs 104 per equity share.  

Retail investors can bid for a lot size of 1,200 shares, aggregating to a minimum investment of Rs 1,14,000.

Fast Track Finsec Pvt Ltd is the book-running lead manager of the Nikita Papers IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. Rikhav Securities Limited is the market maker for Nikita Papers IPO.

The SME issue will remain open for subscription from May 27 to May 29. The IPO allotment status is expected to be finalised on May 30. The company is set to initiate refunds and transfer of shares to the Demat accounts on June 2.

Shares of Nikita Papers are scheduled to be listed on the NSE SME platform, Emerge on Tuesday, June 3.

The IPO has been booked 0.85 times as of 3:05 pm on Wednesday

• Qualified Institutions: 0.43 times

• Non-Institutional Buyers: 1.46 times

• Retail Investors: 1.01 times

The subscription status will be updated at regular intervals.

The latest grey market premium for the Nikita Papers IPO is Rs 5, recorded at 2:37 pm on Wednesday, May 28. With the upper end of the IPO’s price band fixed at Rs 104, the estimated listing price remains Rs 109, indicating a 4.81% listing gains when the company lists on NSE SME on June 3.

Note: GMP is not an official source of data and is based on speculation.

The company’s revenue declined to 346.78 crore in FY24, compared to Rs 401.31 crore in FY23. Nikita Papers’ net profit nearly doubled to Rs 16.6 crore in FY24 from Rs 8.65 crore in the preceding fiscal.

For the nine-month period ended December 31, 2024, the company’s revenue stood at Rs 272.38 crore and net profit at Rs 15.68 crore.

Use Of Proceeds

The proceeds of the public issue will be used by Nikita Papers for general corporate purposes, issue expenses and working capital requirements. It will also divert some funds towards setting up a power plant.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.