Three M Paper Boards IPO Oversubscribed 171.33 Times On Final Day
The company plans to list its shares on the BSE SME platform tentatively by July 22.
Three M Paper Boards Ltd.'s IPO saw an overall subscription of 171.33 times at 06:20 p.m. on Tuesday. The company aims to raise Rs 39.83 crore via equity shares totaling 57.72 lakh. The company specialises in manufacturing high-quality recycled paper-based Duplex Board products.
Three M Paper Boards IPO: Day 3 Subscription Status
The IPO has been subscribed 171.33 times as of 06:20 p.m. on Tuesday.
Anchor investors: 1 time
Non-institutional investors: 284.67 times
Retail investors: 175.19 times
Qualified Institutions: 79.37 times
Three M Paper Boards IPO Allotment status will be out today; click on the link to check the step-by-step guide to view share allotment.
Three M Paper Boards IPO Details
The SME IPO subscription period commences on July 12 and concludes on July 16 with allotment anticipated by July 18. The company plans to list its shares on the BSE SME platform tentatively by July 22. 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 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 the 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.
Company's Financials
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.
