Shreenath Paper IPO opens for subscription: Check price band, lot size, key dates and more

Shreenath Paper IPO: The BSE SME initial public offer of Shreenath Paper Products opened for public subscription on Tuesday, February 25. It is a fixed price issue at ₹44 per share.

The initial share sale, which will conclude on February 28, is completely a fresh issuance of 53.10 lakh shares worth ₹23.36 crore.

The proceeds from the IPO will be used to meet incremental working capital requirements and serve general corporate purposes.

The company believes that listing on the BSE SME will enhance its corporate image and brand visibility.

Shreenath Paper IPO: Lot size

Retail investors can apply for at least one lot, consisting of 3,000 shares. The minimum investment required is ₹1,32,000. High-net-worth individuals can apply for at least two lots or 6,000 shares valued at ₹2,64,000.

Shreenath Paper IPO: Allotment and listing date

The basis of the allotment of Shreenath Paper Products IPO is likely to be finalised on March 3. Shares will be credited to the Demat account of successful investors on March 4. Refunds for unsuccessful investors will be initiated on the same day. Shreenath Paper IPO listing date on BSE SME is March 5.

The issue's book running lead manager is Galactico Corporate Services Ltd, while Bigshare Services Pvt Ltd is the registrar. Pure Broking Pvt Ltd is the market maker for the IPO.

About the company

Shreenath Paper Products offers solutions to industries where paper, such as coating-based paper, machine-glazed paper, food-grade paper, and pressure-sensitive adhesive paper, forms a key part of their raw materials.

It supplies different kinds of paper, such as thermal base paper, sublimation base paper, paper for cone sleeve, straw paper, cup stock paper, security PSA sheet, poster paper, transcode PSA sheet, PSA sheet, removable PSA sheet, filmic & digital permanent PSA sheet, C1S paper, hi-bright paper, C2S paper and board, low-bright paper, and high-strength paper, among others.