Subam Papers IPO day 3: BSE SME issue booked over 86 times, NIIs leads demand

Subam Papers Ltd.’s initial public offering (IPO) was subscribed to over 86.4 times, led by a strong demand from Non-institutional investors (NIIs). Overall, the company received bids for over 38.12 crore shares of Subam Papers compared to the 44.08 lakh shares offered.

The issue was booked over 48.97 times in the retail category as investors placed bids for over 10.03 crore shares against the 20.49 lakh shares set aside for the category.

The quota of shares reserved for NIIs in the IPO was subscribed 180.17 times. NIIs placed bids for over 21.38 crore shares compared to the 11.87 lakh shares on offer.

Qualified Institutional Buyers(QIBs) applied for over 6.69 crore shares of the company against 11.71 lakh shares set aside for the category. The issue’s QIB portion was subscribed 57.18 times.

Subam Papers IPO issue size

Subam Papers IPO was a book-built issue of 61.64 lakh shares worth ₹93.7 crore.

Subam Papers IPO: Lot size, minimum investment, price band

The IPO price band was fixed at ₹144 to ₹152 per share. The minimum lot size for the retail category was fixed at 800 shares, which aggregated to an investment of ₹1,21,600.

Subam Papers IPO share allotment status, listing date and other details

Subam Papers IPO opened for subscription on September 30. With the bidding process over today, October 3, the allotment of shares will be finalised by October 4.

Refunds for non-allottees and credit of shares to the demat accounts of successful bidders in the IPO will be done on October 7.

Shares of the company are set to list on the BSE SME platform, tentatively on October 8.

Subam Papers IPO: Registrar

The book-running lead manager for Subam Papers IPO is Gretex Corporate Services Limited. The registrar for the BSE SME issue is Bigshare Services Pvt Ltd, while Gretex Share Broking Ltd. is the market maker.

Subam Papers IPO: Objective

The company plans to use the money raised via the public issue for investment in its subsidiary and capital expenditure requirements. A portion of the proceeds will also be used for general corporate purposes.

About Subam Papers

Subam Papers Limited was incorporated in October 2006. The company is a manufacturer of paper products. The company uses waste paper as a raw material. It offers Kraft Paper and Duplex Boards in various shades.

The company caters to clients in automobiles, textiles, FMCG, food, distilleries and other industries. It had 500 permanent employees as of September 2024.