Three M Paper Boards IPO booked 8 times on day 1 led by retail investors; check key details

Three M Paper Boards Limited IPO, a book-building issue worth ₹39.83 crore, saw a strong demand from investors across categories on the first day of subscription on Friday, July 12. The BSE SME issue was subscribed 8 times driven by strong retail demand.

According to BSE data, the paper board producer's initial public offer received bids for 3.08 crore shares against 38.4 lakh shares on offer.

The retail category saw the highest demand with bids for more than 2.49 crore shares compared to the 19.2 lakh shares set aside for the segment. The issue was subscribed 12.98 times in the retail segment.

The Non-Institutional Investors (NIIs) placed bids for more than 58.84 lakh shares against 8.24 lakh shares set aside for the category. The issue was subscribed 7.14 times in the segment.

The Qualified Institutional Buyers (QIB) portion did not receive any application on the first day of bidding.

The BSE SME IPO of Three M Paper Boards comprises an entirely fresh issue of 57.72 lakh shares. This IPO offer size includes an anchor allocation of 16.42 lakh shares and a market maker portion of 2.9 lakh shares.

Three M Paper Boards IPO price band, lot size and minimum investment

Three M Paper Boards Limited IPO price band has been fixed at ₹67 to ₹69 per share.

The minimum investment required for retail investors is ₹1,38,000 for a single lot size of 2,000 shares. The minimum investment for High Net Worth Individuals (HNIs) is 2 lots, or 4,000 shares, amounting to ₹2,76,000.

Three M Paper Boards IPO dates

The Three M Paper Board IPO subscription window will remain open until Tuesday, July 16. The IPO share allotment status is expected to be finalised on Thursday, July 18. Shares will be transferred to the Demat accounts of successful bidders on July 19 and refunds will also be initiated for other applicants the same day.

Three M Paper IPO shares will be listed on the BSE SME platform. Three M Paper Boards IPO listing date has been tentatively scheduled as July 22.

About Three M Paper Board Limited

Three M Paper Boards Limited, founded in July 1989, manufactures high-quality recycled paper-based duplex board products for packaging needs. The company primarily supplies paper board products for packaging applications across various industries, including food and beverages, pharmaceuticals, cosmetics, and consumer goods. It supplies its products to both domestic and international customers.