IPO
Shreenath Paper Products’ Rs.23-Cr SME IPO subscribed 1.08 times
The INR 23.36 crore SME initial public offering (IPO) of Shreenath Paper Products was subscribed 1.08 times. The retail portion of the issue was subscribed by 1.86 times, while the issue was subscribed by 30% in the non-institutional investors category on the final day of bidding. The IPO comprises a fresh issue of 53.10 lakh shares with the price band set at INR 44 per share and managed by Galactico Corporate Service.The proceeds will be used for meeting incremental working capital requirements and for general corporate purposes.Founded in 2011, Shreenath Paper Products is a supply chain partner for businesses that use paper as a major raw material. It sources a variety of paper products, such as coating-based paper, food-grade paper, and specialized adhesive paper.
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