The issue, priced at Rs 96 per share, consisted entirely of a fresh issue of 33 lakh equity shares. It opened for subscription on June 13 and closed on June 17.
The retail portion saw 2.17 times subscription, while QIBs bid 2.91 times their quota. However, interest from non-institutional investors was lukewarm, with that segment covered only 0.66 times.
The company raised Rs 31.68 crore, which will primarily be used for capital expenditure, working capital needs, and general corporate purposes. Post-issue, the company’s market capitalisation is pegged at around ₹99 crore.
Aten Papers and Foam, incorporated in 2019, operates as a trading intermediary in the paper supply chain. It deals in kraft paper, absorbent paper, and duplex boards used in the packaging industry, along with supplying waste paper to paper mills as raw material.
It also offers various grades and sizes of kraft paper for grocery bags, furniture applications, and industrial tubes.Financially, the company has shown solid growth, with revenue rising 43% to Rs 139 crore in FY25, and net profit surging 152% to Rs 7 crore. However, some analysts remain cautious about the recent jump in profits and question its sustainability.
With GMP at zero and only modest investor interest, all eyes will now be on how Aten’s listing unfolds in today’s trade.
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