The company will offer 57,72,000 fresh equity shares under the IPO, the shares will be listed on the SME Platform of BSE Limited (BSE SME).
| Key points:
· 3 M paper Rs. Plan to bring fresh public issue up to 40 crores · The company is offering 57,72,000 new equity shares to be offered under the IPO. · The company is a leading manufacturer of coated duplex paper board, which uses 100% recycled wastepaper to produce biodegradable finished products. · The funds raised through the issue will be used for business expansion including purchase of machinery, factory building extension, repayment of loans, addition of working capital and general corporate purposes. · It is proposed to list the shares of the Company on the SME Platform of BSE Limited (BSE SME). · For the financial year 2023-24, the company will spend Rs. 276.02 crore gross revenue and Rs. 11.35 crores reported a net profit · Comfort Securities Limited is the book running lead manager of the issue. |
Mumbai2 July2024: A company engaged in the business of manufacturing recycled paper-based coated duplex board products for over three decades. THREE M PAPER BOARD LIMITED Through its SME IPO, Rs. Planning to raise up to 40 crores. The company has received approval to launch its public issue on the SME platform of BSE Limited (BSE SME). The coated duplex boards manufactured by the company are made from 100 percent recycled waste paper and are fully biodegradable, making them an eco-friendly choice for packaging various FMCG and pharmaceutical goods. Comfort Securities Limited is the book running lead manager for the issue.
Rs. 40 crore IPOs each at Rs. Includes fresh issue of 57,72,000 equity shares of face value of Rs. The total proceeds from the issue will be utilized for various purposes such as Rs. 14 crore will be earmarked for capital expenditure, including the purchase of a plastic-fired low-pressure boiler that will use waste plastic to generate electricity and save electricity costs significantly. Apart from this, hot and soft nip calendars will be procured to increase the quality of the product so that premium pricing is available and customer preference is maintained. The fund will also be used for expansion of the factory building to increase storage capacity and to acquire sheet cutters to increase production speed. Rs. 10 crore for working capital and Rs. 7 crore will be utilized for loan repayments which will facilitate operations, improve cash flow management and reduce interest expenses. The remaining funds will be used for general corporate purposes and expenses related to the issue.
Three M Paper Boards Limited (earlier known as Three M Paper Boards Pvt Ltd and 3 M Paper Manufacturing Company Pvt Ltd) was established in 1989. It is one of the ISO-9001 certified companies engaged in the business of manufacturing recycled paper-based duplex board products in the range of 200 to 500 GSM. These board products are used for various packaging operations in industries such as edible food and beverages, pharmaceuticals, cosmetics and consumer goods. The company supplies its high-quality duplex board paper products to domestic and international markets.
The company's products are made from 100 percent recycled waste paper and are completely biodegradable. The company is ready to continuously innovate both in terms of product-development and manufacturing processes. The company's manufacturing facility at Chiplun, Maharashtra is spread over an area of over 30 acres, has an installed capacity of 72,000 tonnes per annum (tpa) with a 4 MW captive power plant and is equipped with state-of-the-art technology. The company manufactures global quality standard paper boards suitable for high quality print jobs in packaging sectors worldwide. With a vast network of over 25 dealers across the country and export operations in over 15 countries, 3M Paper Boards has a wide market reach and a strong presence in the industry.
