Shreenath Paper IPO fully subscribed on last bidding day led by retail investors; check GMP, other key details

Shreenath Paper IPO began accepting subscriptions on Tuesday, February 25, and will remain open until today, Friday, February 28. Shreenath Paper IPO price band has been set at ₹44 per equity share, with a face value of ₹10 each. Investors can place bids for a minimum of 3,000 equity shares, with additional bids in multiples of 3,000 shares thereafter.

Incorporated in 2011, Shreenath Paper Products Limited specializes in providing supply chain solutions for industries that rely on paper materials, including coated, food-grade, machine-glazed, and adhesive papers.

The company offers a diverse range 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 places a strong emphasis on understanding client needs, defining specifications, sourcing from specialised manufacturers, testing samples, and procuring materials in the desired quantities. They supply a variety of paper grades made from recycled paper, bagasse, and virgin pulp.

Their paper products cater to various industries, including FMCG, textiles, pharmaceuticals, packaging, food & beverages, and e-commerce, with a primary focus on the regions of Maharashtra, Gujarat, and Madhya Pradesh.

Shreenath Paper IPO Subscription Status

Shreenath Paper IPO subscription status is 1.64 times, on day 3, so far. The retail portion was subscribed 2.8 times, and NII portion was booked 49%.

At 15:34 IST, the company has received bids for 82,71,000 shares against 50,28,000 shares on offer, according to data on chittorgarh.com

On the first bidding day, Shreenath Paper IPO subscription status was 15%, and the issue was booked 63% on the second bidding day.

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 company plans to use the net proceeds from the issue for various objectives, including fulfilling increased working capital needs and general corporate purposes.

Galactico Corporate Services Limited serves as the book-running lead manager for the Shreenath Paper IPO, whereas Bigshare Services Pvt Ltd acts as the registrar for the offering. The market maker for the Shreenath Paper IPO is Pure Broking Private Limited.

Shreenath Paper IPO GMP today

Shreenath Paper IPO GMP today is +3. This indicates Shreenath Paper share price was trading at a premium of ₹3 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shreenath Paper share price is indicated at ₹47 apiece, which is 6.82% higher than the IPO price of ₹44.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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