Three M Paper share price makes a positive debut, stock opens with 10.14% premium at ₹76 apiece on BSE SME

Three M Paper share price made a positive debut on BSE SME today. Three M Paper share price today opened at ₹76, which is 10.14% higher than the issue price of ₹69.

Three M Paper Boards IPO began on Friday, July 12, and ran until Tuesday, July 16. The IPO was priced between ₹67 and ₹69 per share, with a face value of ₹10. There were multiples of those shares available, and a minimum of 2,000 shares were up for bid. On the last bidding day, Three M Paper Boards IPO subscription status was 171.33 times.

The company makes superior duplex board paper goods for both domestic and international customers. This company's products, including Duplex Board manufactured from recycled paper, are used in a variety of packaging applications for consumer goods, medications, food & beverage, and cosmetics. The firm manufactures completely biodegradable items utilising only 100% recycled waste paper. The company is always striving to accomplish a variety of improvements in the domains of production and product development.

The company's headquarters are in Mumbai, while its production facility is in Chiplun, District Ratnagiri, Maharashtra. The company's production plant, which is equipped with cutting-edge machinery and technology, has the potential to produce up to 72,000 TPA of paper by the end of FY 2023-2024.

Three M Paper Boards IPO details

The Three M Paper Boards IPO, worth ₹39.83 crore, is purely an offer-for-sale of up to 5,772,000 equity shares.

According to the firm, the net proceeds from the offering will be used to meet the following objectives: funding its long-term working capital needs, installing new equipment, upgrading a few procedures at its current manufacturing location, and building a low pressure plastic boiler. Furthermore, the company wants to use the proceeds for general corporate objectives, including repaying all or a portion of its present debt.

Comfort Securities Ltd was the book running lead manager for the Three M Paper Boards IPO, while Bigshare Services Pvt Ltd served as the registrar. Comfort Securities is the market maker for Three M Paper Boards' initial public offering.

Three M Paper Boards IPO GMP today

Three M Paper Boards IPO GMP +3 . This indicates Three M Paper share price were trading at a premium of ₹30 in the grey market, according to investorgain.com.

Given the upper end of the IPO price band and the existing grey market premium, the expected listing price for Three M Paper Boards shares is ₹125 per, 31.58% more than the IPO price of ₹69.

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

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