The initial public offer (IPO) of Shreenath Paper Products received bids for 7,41,000 shares as against 53,10,000 shares on offer, as per BSE data as of 17:00 hours on Tuesday (25 February 2025). The issue was subscribed 0.13 times.

The issue opened for bidding on Tuesday (25 February 2025), and it will close on Friday (28 February 2025). The price of the IPO is fixed at Rs 44 per share. The minimum order quantity is 3,000 equity shares. The equity shares will list on BSE’s SME platform.

The IPO comprises a fresh issue of 53,10,000 equity shares. The promoter and promoter group shareholding will dilute to 72.98% from 100% pre-issue.

About 2,82,000 equity shares will be reserved for subscription by the market maker to the issue. The net issue comprises 50,28,000 equity shares. The issue and the net issue will constitute 27.02% and 25.58%, respectively, of the post-issue paid-up equity share capital of the company.

The company intends to utilize the net proceeds for meeting incremental working capital requirements and general corporate purposes.

Shreenath Paper Products is a leading provider of supply chain solutions for industries that rely on paper materials such as coated, food-grade, machine-glazed, and adhesive papers in their manufacturing processes. The company offers a wide range of paper products, including sublimation base paper, thermal base paper, and straw paper; cup stock paper, security PSA sheets, high-strength paper, C2S and C1S papers; and more. As of February 29, 2024, the company had 9 professionals.

The company recorded revenue from operations of Rs 77.04 crore and net profit of Rs 2.40 crore on a nine-month basis for the period as of 31 December 2024.