Shreenath Paper share price made a weak debut on NSE SME today. Shreenath Paper share price today opened at ₹35.20, which is 20% lower than the issue price of ₹44.
Shreenath Paper IPO started accepting subscriptions on Tuesday, February 25, and closed on Friday, February 28. Shreenath Paper IPO price band was established at ₹44 per equity share, with a face value of ₹10 each. Investors could make bids for a minimum of 3,000 equity shares, with further bids allowed in increments of 3,000 shares thereafter. Shreenath Paper IPO subscription status was 1.85 times on the last bidding day.
Founded in 2011, Shreenath Paper Products Limited focuses on delivering supply chain solutions for industries dependent on paper materials, including coated, food-grade, machine-glazed, and adhesive papers. The company provides a wide variety of papers, such as sublimation base paper, thermal base paper, straw paper, cup stock paper, security PSA sheets, and high-strength paper, among others.
Shreenath Paper Products Limited prioritizes understanding customer requirements, specifying needs, sourcing from specialized manufacturers, testing samples, and obtaining materials in the required quantities. They offer a selection of paper grades produced from recycled paper, bagasse, and virgin pulp. Their paper products serve multiple sectors, including FMCG, textiles, pharmaceuticals, packaging, food & beverages, and e-commerce, mainly targeting the regions of Maharashtra, Gujarat, and Madhya Pradesh.
Shreenath Paper IPO details
Shreenath Paper IPO worth ₹23.36 crore, consists of a fresh issue of 53,10,000 equity shares. There’s no offer for sale (OFS) component.
The firm intends to utilise the net funds from this issuance for several goals, such as meeting heightened working capital requirements and other corporate purposes.
Galactico Corporate Services Limited is acting as the book-running lead manager for the Shreenath Paper IPO, while Bigshare Services Pvt Ltd is functioning as the registrar for the offering. The market maker associated with the Shreenath Paper IPO is Pure Broking Private Limited.
Shreenath Paper IPO GMP today
Shreenath Paper IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹44 with no premium or discount in the grey market according to topsharebrokers.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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