Aten Papers IPO opens for subscription: Check price band, lot size, objectives and key dates

Aten Papers IPO: The initial public offering of Aten Papers & Foam opened for subscription on Friday, June 13. The issue, aiming to raise up to ₹31.68 crore, will conclude on June 17.

The initial share sale is a fresh issuance of 33 lakh shares. The price band has been fixed at ₹91 to ₹96 per share.

The money raised to the tune of ₹4.27 crore will be utilised for capital expenditure needs, ₹15.5 crore for incremental working capital requirements and the rest for general corporate purposes and public issue expenses.

Aten Papers IPO: Lot size

A lot consists of 1,200 shares, costing ₹1,15,200 (cut-off price) to retail investors. For high-net-worth individuals, the minimum investment is ₹2,30,400.

Aten Papers IPO: Key dates

Aten Papers IPO allotment status is likely to be finalised on June 18. Equity shares will be credited to the Demat account of allottees on June 24. Refunds for unsuccessful investors will be processed on the same day.

Aten Papers' shares listing will take place on June 20 on the BSE SME.

The company has reserved 47.5% each of the net offer for retail investors and non-institutional investors and the remaining 5% for qualified institutional buyers.

Swastika Investmart is the lone book-running lead manager of the issue, while Skyline Financial Services is the registrar. Sunflower Broking Pvt Ltd is the market maker.

About the company

Aten Papers & Foam, incorporated in 2019, is an important intermediary in the paper product supply chain. It sources paper from several mills and supplies it to customers in the packaging industry. It offers duplex boards, kraft paper, and other products in multiple sizes, grades, and thicknesses.

Post-IPO, the firm's paid-up equity capital of ₹7 crore will rise to ₹10.30 crore. Based on the upper price band of the issue, the company is looking for a market capitalisation of ₹99 crore.