Nikita Papers IPO attracts 19% subscription on Day 1 so far. Check GMP, other details

The initial public offering of Nikita Paper Limited, which opened today, has seen a total subscription of 19% so far, with retail investors leading the charge on Day 1.

By around 12:30 pm, retail investors had applied for 5.06 lakh shares of the company via 422 bids. Non-institutional investors (NIIs) had made 13 bids for 5.05 lakh shares, while the qualified institutional buyers had not made a subscription yet.


The company is looking to raise Rs 67.54 crore through a fresh issue of 64.94 lakh equity shares, with subscription windows closing on May 29.

The NSE SME issue is being managed by Fast Track Finsec, with Skyline Financial Services as the registrar.

Ahead of the listing, the shares of Nikita Papers did not have any grey market premium in the unlisted market.

Nikita Papers, incorporated in 1989, is engaged in the manufacturing of paper and paper products, including kraft paper used in packaging, wrapping, and industrial applications. The company uses recycled materials and caters to both domestic and international markets. It has 208 employees and has recently expanded into fluting media.

In the nine months ended December 2024, the company reported a profit of Rs 15.68 crore on revenue of Rs 272.38 crore. For the full year FY24, it posted a profit of Rs 16.60 crore. Its return on equity stood at 21.45%, and its post-issue price-to-earnings ratio is 12.27.

The company plans to use the IPO proceeds to fund a new power plant, meet working capital needs, and cover general corporate expenses.

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