Nikita Papers share price made a weak debut on NSE SME today. Nikita Papers share price today opened at ₹104, which is 13.46% lower than the issue price of ₹104.
The initial public offering (IPO) of Nikita Papers had a subscription period that ran from Tuesday, May 27 until Thursday, May 29. With a face value of ₹10, shares in the Nikita Papers IPO price band is fixed at ₹104. At least 1,200 of those shares are up for bid, and there are multiples of those shares available. Nikita Papers IPO subscription status was 1.43 times on the last day of bidding.
Nikita Papers operates in the manufacture of paper and related products, concentrating on producing a range of paper grades that meet the needs of industrial, commercial, and printing sectors. The company prioritizes eco-friendly manufacturing practices, frequently incorporating recycled materials into its production processes. Boasting a vast distribution network, Nikita Papers serves markets both domestically and internationally, with a commitment to maintaining quality and consistency.
Depending on its scale and operations, Nikita Papers may also be involved in industries such as packaging, tissue paper, or specialized paper products. According to the red herring prospectus (RHP), the company’s listed competitors include Magnum Ventures Ltd (with a P/E ratio of 10.64), Tamilnadu Newsprint and Papers Ltd (with a P/E ratio of 76.41), Ruchira Papers Ltd (with a P/E ratio of 6.48), and Pakka Ltd (with a P/E ratio of 18.98).
Nikita Papers IPO details
Nikita Papers IPO consists of a fresh issue of 64,94,400 equity shares, aggregating to ₹67.54 crore. There’s no offer for sale (OFS) component.
The capital obtained from the IPO will be used to finance the capital expenditures for setting up a power plant, meet the company’s working capital requirements, and address general corporate expenses, including costs associated with the issue.
Fast Track Finsec Private Limited is functioning as the Book Running Lead Manager for the offering, whereas Skyline Financial Services Private Limited is serving as the Registrar for the issuance.
Nikita Papers IPO GMP today
Nikita Papers IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹104 with no premium or discount in the grey market according to investorgain.com experts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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