Subam Papers Limited Announces IPO on BSE SME to Raise Rs. 93.70 Cr

Subam Papers Limited will launch an Initial Public Offering (IPO) on September 30, 2024, aiming to raise Rs. 93.70 Cr by listing shares on the BSE SME platform. The company, established in 2004, specializes in manufacturing Kraft Paper and Paper Products using recycled materials and renewable energy sources.

Subam Papers Limited has announced plans to launch an Initial Public Offering (IPO) on September 30, 2024, targeting a raise of up to Rs. 93.70 Cr by listing on the BSE SME platform. This issuance includes 61,64,800 equity shares at a face value of Rs. 10 apiece.

Subam Papers Ltd., established in 2004, initially focused on manufacturing paper cones and has since expanded its product line to include Kraft paper and Duplex board. The company aims to use the net IPO proceeds for capital expenditure in a subsidiary and general corporate purposes, with Rs. 75.00 Cr earmarked for investment. Listing is expected on October 8, 2024.

Subam Papers is committed to sustainability, emphasizing recycling and renewable energy. The firm utilizes windmills and solar installations to power its manufacturing, aligning with environmental goals. The company's products are crucial in various packaging sectors, from automotive to pharmaceuticals, highlighting its diverse industry applications.

(With inputs from agencies.)