Kraft paper producer Nikita Papers on Saturday mounted the value band at Rs 95-104 a share for its Rs 67.5 crore preliminary public providing.
The preliminary share sale will open for public subscription on Could 27 and conclude on Could 29. The shares of the corporate shall be listed on the NSE’s SME platform Emerge, the corporate mentioned in a press release.
Buyers can bid for at least 1,200 fairness shares and in multiples thereof. On the higher finish of the value band, the corporate goes to mobilise round Rs 67.54 crore, it added.
The Preliminary Public Providing (IPO) of the corporate is fully a recent concern of 64.94 lakh fairness shares. The web proceeds from the recent concern shall be utilised to satisfy capital expenditure for organising an influence plant, funds will even be used in direction of the working capital necessities of the corporate, and relaxation steadiness for common company functions and concern bills.
“As we take the subsequent step in our journey via the proposed preliminary public providing, our focus stays on constructing long-term worth via accountable progress. At Nikita Papers Ltd, we’ve got steadily expanded our capabilities in Kraft paper manufacturing whereas sustaining a transparent dedication to sustainability and operational effectivity,’ Nikita Papers Chairman Sudhir Kumar Bansal mentioned.
Included in 1989, Shamli, Uttar Pradesh-based Nikita Papers is engaged within the manufacturing of paper and paper merchandise. The corporate specialises in producing a spread of paper grades appropriate for industrial, industrial, and printing functions.
The corporate reported income of Rs 338.60 crore and a revenue after tax of Rs 16.60 crore in FY24. Quick Monitor Finsec is the e-book operating lead supervisor and Skyline Monetary Companies is the registrar of the difficulty.