Kraft paper producer Nikita Papers on Saturday mounted the worth band at ₹95-104 a share for its ₹67.5 crore preliminary public providing.
The preliminary share sale will open for public subscription on Might 27 and conclude on Might 29. The shares of the corporate shall be listed on the NSE’s SME platform Emerge, the corporate mentioned in an announcement.
Buyers can bid for no less than 1,200 fairness shares and in multiples thereof. On the higher finish of the worth band, the corporate goes to mobilise round ₹67.54 crore, it added.
The Preliminary Public Providing (IPO) of the corporate is completely a contemporary problem of 64.94 lakh fairness shares.
The online proceeds from the contemporary problem shall be utilised to satisfy capital expenditure for establishing an influence plant, funds can even be used in direction of the working capital necessities of the corporate, and relaxation stability for normal company functions and problem bills.
“As we take the subsequent step in our journey by way of the proposed preliminary public providing, our focus stays on constructing long-term worth by way of accountable progress. At Nikita Papers Ltd, we have now steadily expanded our capabilities in Kraft paper manufacturing whereas sustaining a transparent dedication to sustainability and operational effectivity,” Nikita Papers Chairman Sudhir Kumar Bansal mentioned.
Included in 1989, Shamli, Uttar Pradesh-based Nikita Papers is engaged within the manufacturing of paper and paper merchandise. The corporate specialises in producing a spread of paper grades appropriate for industrial, industrial, and printing functions.
The corporate reported income of ₹338.60 crore and a revenue after tax of ₹16.60 crore in FY24.
Quick Observe Finsec is the e book working lead supervisor and Skyline Monetary Companies is the registrar of the difficulty.
