Aten Papers and Foam IPO opens today: Price band, GMP, and key details to know

The Rs 16 crore SME IPO of Aten Papers and Foam is set to open for subscription from March 28 to April 2. The company is offering 33 lakh fresh equity shares, which will be listed on the BSE SME platform.

In the public offer, about 50% is reserved for QIB investors, 35% for retail investors and the rest 15% for non-institutional investors.

Check Aten Papers and Foam IPO price band

The shares are priced at Rs 91-96 per share. Investors can apply for lots of 1,200 shares.

Aten Papers and Foam GMP stays muted

The Grey Market Premium (GMP) of Aten Papers and Foam IPO is currently zero in the unlisted market. Many SME IPOs launched this year have also witnessed nil GMPs before their official launch.

Use of IPO Proceeds

The proceeds from the IPO will be used primarily for the capital expenditure, incremental working capital, general corporate purposes and public issue expenses.

Key Dates: Allotment and Listing

The allotment of shares will be finalized on April 3. The company’s shares are expected to be listed on the stock exchange on April 7.

About Aten Papers and Foam

The company operates as an important intermediary in the paper product supply chain. As a crucial middleman in the paper product supply chain, it procures paper from different paper mills and resells them to clients in the packaging products industry. Examples of these products include Kraft Paper and Duplex Board.

The company also purchases Waste Paper from stockists and sells them to Paper mills which is crucial raw material for such mills. A wide range of grades, thicknesses, widths, and standards are available in its product portfolio for Kraft papers and Duplex boards and other according to customer specifications.

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