Three M Paper Boards IPO booked 159 times on final day of bidding; check allotment and listing date

Three M Paper Boards IPO subscription closed with a bumper demand from investors on the third and final day of bidding on July 16 as the public issue was booked 159 times.

The BSE SME IPO was open for subscription from July 12 to July 16.

The initial public offer of Three M Paper Boards Limited closed with a subscription of 159.37 times. The public issue received bids for over 65.82 crore shares against 41.3 lakh shares offered for subscription.

Non-institutional investors (NIIs) placed bids for over 23.48 crore shares, compared to 11.14 lakh shares reserved for the category. The NIIs’ category was booked 210.82 times.

Three M Paper Boards IPO was subscribed 175.19 times in the retail category with applications for more than 33.63 crore shares compared to 19.2 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) applied for more than 8.69 crore shares compared to 10.96 lakh shares reserved for the category. The issue was subscribed 79.37 times in the QIBs’ category.

Three M Paper Boards IPO price band, issue size and other details

The price band for Three M Paper Boards IPO was set at ₹67 to ₹69 per share. The book-building issue, worth ₹39.83 crore, comprised an entirely fresh issue of 57.72 lakh shares.

The minimum lot size for retail investors applying for Three M Paper Boards IPO was fixed at 1 lot comprising 2,000 shares, amounting to an investment of ₹1,38,000.

Three M Paper Boards IPO share allotment status and listing date

The Three M Paper Boards Limited IPO allotment status is likely to be finalised on July 18. Refunds will be initiated for unsuccessful bidders on July 19, and shares will be credited to the successful bidders' demat accounts the same day.

The tentative listing date for Three M Paper Boards shares is July 22. Shares of Three M Paper Boards will list on the BSE SME platform.

About Three M Paper Boards

Three M Paper Boards was founded in July 1989. It is a manufacturer of recycled paper-based Duplex Board products. The company’s products are used for packaging applications across various industries, including food and beverage, pharmaceuticals, cosmetics, and consumer goods. The company is based in Mumbai and operates through a network of 25 dealers spread across India. As of February 2024, the company’s employee strength stood at 231.