Three M Paper Boards was incorporated on July 26, 1989. The company is engaged in manufacturing recycled paper-based duplex board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets.
| Bidding Dates |
|---|
| 12 Jul 2024 - 16 Jul 2024 |
| Subscription |
|---|
| 159.37x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,34,000 | 1 | 1 | 2000 | 5.8 M | ₹67 - ₹69 | 70 % | ₹386.7 M - ₹398.3 M | RHP DOC |
Three M Paper Boards IPO SUBSCRIPTION STATUS
16 Jul '24Three M Paper Boards IPO overall subscription rate was 159.37 times the total available shares
Three M Paper Boards IPO retail subscription rate was 175.17 times in the retail segment
Three M Paper Boards IPO non-institutional investor subscription rate was 210.82 times in the non-institutional investor category
Three M Paper Boards IPO Qualified Institutional Bidder subscription rate was 79.37 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
16 Jul 2024 (Day 3) | 175.17x | 210.82x | 79.37x |
15 Jul 2024 (Day 2) | 55.11x | 26.14x | 0.01x |
12 Jul 2024 (Day 1) | 12.98x | 5.28x | 0x |
Three M Paper Boards FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 113.5 | 2,722.3 | 139.4 | 90.5 | 9.9% |
| FY23 | 66.2 | 3,272.5 | 235.3 | 86.1 | 6.6% |
| FY22 | 32.8 | 3,129.0 | -103.2 | -142.5 | 5.6% |
| FY21 | 17.3 | 1,650.9 | 119.3 | 94.3 | 8.8% |
Three M Paper Boards IPO SUBSCRIPTION STATUS DETAILS
Three M Paper Boards had 5.8 M shares on offer
Three M Paper Boards IPO offer price was in the range ₹67 - ₹69
Three M Paper Boards IPO minimum Investment was ₹134000
Three M Paper Boards IPO issue size was ₹ 386.7 M - ₹ 398.3 M
Three M Paper Boards had a minimum lot size of 2000 Shares per application
Three M Paper Boards NUMBER OF SHARES ON OFFER
Three M Paper Boards IPO IMPORTANT DATES
| Issue Open Date | 12 Jul 2024 |
| Issue close Date | 16 Jul 2024 |
| Allotment Date | 18 Jul 2024 |
| Refund Date | 19 Jul 2024 |
| Demat Account Credit Date | 19 Jul 2024 |
| Listing Date | 22 Jul 2024 |
| Listing on Exchange(s) | BSE |
| Three M Paper Boards Allotment Status | Exchange |
Three M Paper Boards IPO subscription opened on 12 Jul 2024, and closed on 16 Jul 2024
IPO allotment for Three M Paper Boards was finalized on Thursday, 18 Jul 2024
IPO listing for Three M Paper Boards was on BSE on Monday, 22 Jul 2024
Three M Paper Boards IPO LISTING GAINS
| Issue Price (adjusted) | 69.0 |
| Listing Open Price | 76.0 |
| Listing Close Price | 79.8 |
| Listing Gain% | 10.1% |
| Current Gain% | -64.9% |
Three M Paper Boards Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Three M Paper Boards Ltd. | 24.2 | 46.6 | 6.5 | -0.2 | 0.2 | 6.4 | 2.6 | 300.5 | 11.9 | 7.2 | -28.3 | 3.7 | -28.3 |
| Garware Hi-Tech Films Ltd. | 6973 | 16200 | 41.8 | 2.2 | 7.2 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 224.7 | 7198.1 | 18.5 | 2.2 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | 8.3 |
| AGI Greenpac Ltd. | 709.8 | 4592.2 | 12.7 | 3.1 | 1.7 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| Uflex Ltd. | 488.7 | 3529 | 11.1 | 0.1 | 0.2 | 3.9 | 1.4 | 15513 | 2.1 | 317.1 | 122.8 | 43.9 | 122.7 |
| Polyplex Corporation Ltd. | 1115.9 | 3503.1 | 77.9 | -1 | 0.5 | 1.1 | 0.5 | 7173.4 | 2.8 | 45 | -78.5 | 14.3 | -78.5 |
Three M Paper Boards INFORMATION ON IPO ISSUE
About Three M Paper Boards
Three M Paper Boards was incorporated on July 26, 1989. The company is engaged in manufacturing recycled paper-based duplex board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets.
Object of the Issue
- Capital expenditure for installation of new machinery, modernisation of certain processes under existing manufacturing facility, and installation of plastic-fired low-pressure boiler
- Funding long-term working capital requirements of the company
- Prepayment or repayment of all or a portion of outstanding borrowing availed by the company
- General corporate purposes
Three M Paper Boards - PROMOTERS
| Name |
|---|
| Hitendra Dhanji Shah |
| Prafulla Hitendra Shah |
| Rushabh Hitendra Shah |
Three M Paper Boards Lead Manager of the Issue
Comfort Securities Limited
compliance@comfortsecurities.co.in
Three M Paper Boards Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Three M Paper Boards Strengths
Diversified product portfolio
The company's product portfolio includes a diverse range of coated boards tailored to meet specific needs. From lightweight folding carton boards to heavy-duty packaging boards, it offers a comprehensive selection of grades, coatings, and finishes
Consistence financial performance
The company follows stringent financial policies. It has shown sustainable growth in revenue since inception and has a healthy balance sheet
Economies of scale
Local markets such as Mumbai, Goa, and Pune, near the plant, have a freight advantage, while the plant's proximity to a port provides another freight advantage. This strategic location near the port enables cost-effective transportation, streamlining operations for both imports and exports
Three M Paper Boards Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its promoters, and its directors. Any adverse decision in such proceeding may have a material adverse effect on the business, results of operations, and financial condition
Dependent on few customer
The company's historical revenues have been significantly dependent on a few customers. The loss of one or more of the significant customers may adversely affect our business
Negative cash flows
The company has experienced negative cash flows from operating, investing, and financing activities in the past
IPO FAQs
The promoters of the company are Hitendra Dhanji Shah, Prafulla Hitendra Shah and Rushabh Hitendra Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 67.0 - 69.0.
The IPO application opens on Jul 12, 2024 and closes on Jul 16, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 134,000.0, the maximum value for this IPO is Rs 138,000.0.
This IPO will be allotted on Jul 18, 2024.
The refund will be credited to your account on Jul 19, 2024.
The allotted shares will be credited to your demat on Jul 19, 2024.
Three M Paper Boards Ltd.’s shares listed on the stock exchanges on Jul 22, 2024.