Shreenath Paper Products Ltd. launched its initial public offering on Tuesday, Feb. The company, which offers supply chain solutions to industries using paper materials, aims to mop up over Rs 23 crore from investors in the primary market.
This BSE SME IPO consists entirely of fresh issuance. Those looking to invest in Shreenath Paper IPO must check out these key details before bidding.
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Shreenath Paper IPO: Key Details
Shreenath Paper IPO is a fresh issue of 53.1 lakh shares offered at a fixed price of Rs 44. This takes the valuation of the total offer size to Rs 23.36 crore.
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Retail investors are required to bid in the IPO with a minimum lot size of 3,000 shares, resulting in an investment of Rs 1,32,000.
The subscription window for the BSE SME IPO will remain open from Feb. 25 to Feb. 28. The allotment of shares in the offer is proposed to be finalised on Mar. 3. This will be followed by credit of shares into the demat account of successful bidders along with initiation of refunds for the non-allottees on Mar. 4
Shares of Shreenath Paper Products Ltd. are proposed to be listed on the BSE SME platform on Mar. 5.
Galactico Corporate Services Ltd. is the book-running lead manager of the Shreenath Paper IPO whereas Bigshare Services Pvt. is its registrar. Pure Broking Pvt. is the market maker for the Shreenath Paper IPO.
Shreenath Paper IPO Subscription Status: Day 1
The Shreenath Paper IPO has been subscribed 0.03 times as of 10:45 a.m. on Tuesday.
Non-Institutional Investors: nil
Retail Investors: 0.03 times
The subscription status will be updated at regular intervals.
Shreenath Paper IPO GMP Today
The grey market premium for the Shreenath Paper IPO stood at Rs 0 as of 9:55 a.m. on Feb. 25, according to InvestorGain. The current GMP trend indicates a possible flat listing for the shares of Shreenath Paper Products Ltd.
Note: GMP does not represent official data and is based on speculation.
Shreenath Paper Products: Business and Financials
Shreenath Paper Products Ltd., incorporated in 2011, makes paper products such as food-grade, machine-glazed and adhesive papers which are used in manufacturing processes across different industries. Its products include thermal base paper, straw papers, and sublimation base papers.
Shreenath Paper Products' clientele includes companies from FMCG, textiles, pharmaceuticals, packaging, food & beverages, e-commerce and other sectors. Its operations are primarily in Maharashtra, Gujarat and Madhya Pradesh.
Use Of Proceeds
The company will use the proceeds from the IPO to fulfil incremental working capital requirements and for general corporate purposes.
Financials
Shreenath Paper Products Ltd. posted a revenue of Rs 189.67 crore in FY24, marking a decline of over 8% year-on-year from Rs 206.7 crore in the previous fiscal. Net profit remained nearly flat at Rs 4.39 crore in FY24 in comparison to Rs 4.38 crore in FY23. For the first nine months of FY25, the company's revenues stood at Rs 78.62 crore with a net profit after tax at Rs 2.41 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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