Three M Paper Boards (IPO) opens on July 12, 2024, and closes on July 16, 2024. The allotment for the Three M Paper Boards  IPO is anticipated to be completed on Thursday, July 18, 2024. The IPO will be listed on the NSE and SME, with a tentative date of Monday, July 22, 2024.

The Three M Paper Boards IPO’s price band is Rs 67 to 69 per share. The IPO is a book-built issue of Rs 39.83 crores, entirely a fresh issue of 57.72 lakh shares.

Three M Paper Boards IPO Details

IPO DateJuly 12, 2024 to July 16, 2024
Listing Date[.]
Face Value₹10 per share
Price₹67 to ₹69 per share
Lot Size2000 Shares
Total Issue Size5,772,000 shares
(aggregating up to ₹39.83 Cr)
Fresh Issue5,772,000 shares
(aggregating up to ₹39.83 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE SME
Shareholding pre-issue13,465,360
Shareholding post issue19,237,360
Market Maker portion290,000 shares

Three M Paper Boards IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)12000₹138,000
Retail (Max)12000₹138,000
HNI (Min)24000₹276,000

Three M Paper Boards IPO Objectives

The objectives of the Issue are:

  1. Prepayment or repayment of all or a portion of outstanding borrowing availed by the Company;
  2. General Corporate Purpose.
  3. Capital expenditure for installation of new machinery, modernization of certain processes under existing manufacturing facility, and installation of plastic-fired low-pressure boiler;
  4. Funding long-term working capital requirements of the Company; and

About Three M Paper Boards Limited

Founded in July 1989, Three M Paper Boards Limited specializes in manufacturing high-quality recycled paper-based Duplex Board products. These products are essential for packaging in industries like food and beverage, pharmaceuticals, cosmetics, and consumer goods. The company proudly supplies both domestic and international markets, reflecting its commitment to quality and sustainability.

Headquartered in Mumbai, India, Three M Paper Boards Limited operates a manufacturing facility in Chiplun, Dist. Ratnagiri, Maharashtra, with a production capacity of 72,000 TPA of paper for the fiscal year 2022-23. The company has a network of 25 dealers across India and exports to over 15 countries in the Asia-Pacific, Middle East, Mediterranean, and African regions. Dedicated to environmental sustainability, Three M Paper Boards produces eco-friendly, 100% recycled, and biodegradable Duplex Board products. The company is committed to continuous innovation in product development and manufacturing processes to meet global standards.

Three M Paper Boards Limited Financial Information

Three M Paper Boards Limited’s revenue decreased by -16.3% and profit after tax (PAT) rose by 71.53% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended31 March 202431 Mar 202331 Mar 202231 Mar 2021
Assets19,519.8818,942.5518,150.4414,225.50
Revenue27,601.5632,974.9231,600.4916,552.14
Profit After Tax1,134.72661.53327.56172.63
Net Worth6,110.394,725.674,064.143,736.58
Reserves and Surplus4,763.854,070.653,409.123,081.56
Total Borrowing7,264.088,182.407,802.065,353.41


Three M Paper Boards IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50.00% of the Net offer
Retail Shares OfferedNot less than 35.00% of the Offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer

Three M Paper Boards IPO Timeline 

Sahaj Solar IPO opens on July 11, 2024, and closes on July 15, 2024.

IPO Open DateFriday, July 12, 2024
IPO Close DateTuesday, July 16, 2024
Basis of AllotmentThursday, July 18, 2024
Initiation of RefundsFriday, July 19, 2024
A credit of Shares to DematFriday, July 19, 2024
Listing DateMonday, July 22, 2024
Cut-off time for UPI mandate confirmation5 PM on July 16, 2024

Conclusion

Three M Paper Boards Limited’s IPO, opening from July 12 to July 16, 2024, aims to raise Rs 39.83 crores through a fresh issue of 57.72 lakh shares, priced between Rs 67 to Rs 69 each. The company, known for its high-quality recycled paper-based Duplex Board products used in packaging across various industries, has a strong presence in both domestic and international markets. With a minimum investment of Rs 138,000 for retail investors and Rs 276,000 for HNIs, the IPO is managed by Comfort Securities Limited and is expected to be listed on the BSE SME on July 22, 2024. This IPO comes as the company seeks to bolster its financial position and market reach, supported by its robust distribution network and significant growth in profit after tax.

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