THREE M PAPER BOARDS LTD'S RS 39.83 CRORE IPO OPENS ON JULY 12

Three M Paper Boards Ltd , a Mumbai based company engaged in the business of manufacturing Recycled Paper-based Coated Duplex Board products since over 3 decades, is planning to raise up to Rs 39.83 crores through its SME IPO.

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Shares of the company will be listed on the SME platform of BSE Ltd (BSE SME). The public issue open for subscription on July 12 and closes on July 16. Funds raised through the issue will be used for business expansion including purchasing machinery, factory building extension, repayment of loans, working capital infusion and general corporate purposes. Comfort Securities Limited is the Book Running Lead Manager to the issue. Company is offering 57.72 lakh Equity shares of Rs 10 each in the price band of Rs 67-69 per share; Company to list on SME Platform of BSE Ltd (BSE SME) The initial public offering of Rs 39.83 crores consist of a fresh issue of 57,72,000 equity shares of Rs 10 each in the price band of Rs 67-69 per share. Company plans to utilize Rs 14 crores towards capital expenditure, including the purchase of a PlasticFired Low-Pressured Boiler, which will use waste plastic for power generation and significantly lower power costs. The funds will also support a factory building extension to increase storage capacity and the acquisition of a sheet cutter to enhance production speed. Rs 10 crores will be allocated for working capital and R