
Source: Business Standard
June 17, 2025, Aten Papers and Foam Ltd’s initial public offering (IPO) closes today. As of 10:00 AM on the last day of bidding, the IPO has received 99% subscription, with 32.64 lakh shares bid against 33 lakh shares available from BSE data.
Details for Issue
The IPO is an SME issue worth approximately ₹31.68 crore. It is a combination of a fresh issue of 33 lakh equity shares, and it has no OFS. The price band is ₹91 to ₹96, and the minimum lot size is 1,200 shares or a retail investment of at least ₹1,09,200.
The IPO is open from 13 June and will close by end of day today, 17 June. While the response has been fairly slow in comparison to some other SME IPO, it has slowly picked up interest and may be fully subscribed by the end of the day.
Grey Market Premium
According to sources tracking the grey market, Shares of Aten Papers and Foam are trading in the grey market at ₹106, which is ₹10 more than the issue price. This implies a 10.4% premium indicating moderate interest from investors.
Grey market premiums often reflect investor sentiment, but they do not guarantee listing gains.
- Basis of allotment: June 18, 2025
- Expected listing date: June 20, 2025, on the BSE SME platform
- Registrar: Skyline Financial Services
- Lead Manager: Swastika Investmart
Use of Proceeds
As outlined in the company’s red herring prospectus, the proceeds of the IPO will be used for:
- Capital expenditures (to acquire new equipment and expand operations)
- Working capital needs (to fund day-to-day operating expenses)
- General corporate purposes
About the Company
Aten Papers and Foam is a company started in 2019 and is located in Gujarat. Aten Papers and Foam is a paper supply chain middleman. We buy paper from mills and ship it to customers usually in the packaging industry. We also deal in wastepaper to sell to paper mills as a raw material. We offer general products such as kraft papers, duplex boards, etc. from various mills to customers from small sizes and qualities to suit the customers’ needs.
Final thoughts
Aten Papers and Foam has had a reasonable response to its IPO, almost entirely subscribed by the final day. The grey market premium also indicates some investor confidence. Next is the final subscription numbers and hopefully their listing performance later this week.