Three M Paper Boards IPO Opens Tomorrow: Check Price Band And Other Key Details
The company specialises in manufacturing high-quality recycled paper-based Duplex Board products.
Three M Paper Boards Limited is set to launch its Initial Public Offering worth Rs 39.83 crore, consisting entirely of fresh equity shares totaling 57.72 lakh. The company specialises in manufacturing high-quality recycled paper-based Duplex Board products.
Three M Paper Boards Limited IPO Details
The SME IPO subscription period commences on July 12, 2024, and concludes on July 16, 2024, with allotment anticipated by July 18, 2024. The company plans to list its shares on the BSE SME platform tentatively by July 22, 2024. The price band is fixed at Rs. 67 to Rs. 69 per share. Retail investors need to apply for a minimum of 2000 shares, requiring an investment of Rs. 138,000. The minimum lot size for High Net-Worth Individuals is 2 lots (4000 shares), amounting to Rs. 276,000.
Three M Paper Boards IPO Allotment status will be out on July 18; click on the link to check the step-by-step guide to view share allotment.
Three M Paper Boards limited has reserved 50% of the net issue for qualified institutional buyers (QIBs), 15% of the net offer has been allocated for non-institutional investors (NIIs) and 35% for retail investors. Up to 2,90,000 equity shares have been allotted to the market maker portion.
As per company's Red Herring Prospectus, Comfort Securities Limited is the book running lead manager for the Three M Paper Boards IPO, with Bigshare Services Pvt Ltd serving as the registrar. Comfort Securities will also act as the market maker for the IPO.
About Three M Paper Boards Limited
Established in July 1989, Three M Paper Boards Ltd. specialises in manufacturing high-quality recycled paper-based Duplex Board products. These are widely used in packaging across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods.
Headquartered in Mumbai, the company operates a state-of-the-art manufacturing facility in Chiplun, Maharashtra, boasting a capacity of 72,000 tonnes per annum as of FY 2022-23. With a robust network of 25 dealers across India, Three M Paper Boards ensures nationwide distribution of its products.
Three M Paper Boards IPO: Objectives of the Issue
The funds raised from the IPO will be utilised for:
- Capital expenditure to enhance machinery and modernise existing processes.
- Meeting long-term working capital requirements.
- Repayment of outstanding borrowings.
- General corporate purposes.
Financial Performance
In the fiscal year ending March 31, 2024, Three M Paper Boards reported a 16.3% decrease in revenue while achieving a remarkable 71.53% increase in Profit After Tax (PAT). This financial growth underscores the company's positioning in the competitive paper manufacturing sector.
