The initial public offer (IPO) of Nikita Papers received bids for 31,34,400 shares as against 56,25,600 shares on offer, as per NSE data as of 17:00 hours on Tuesday (27 May 2025). The issue was subscribed 0.56 times.
The issue opened for bidding on Tuesday (27 May 2025) and it will close on Thursday (29 May 2025). The price band of the IPO is fixed between Rs 95 to Rs 104 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE’s SME platform.
The IPO comprises fresh issue of 64,94,400 equity shares. The promoter and promoter group shareholding will dilute to 59.219% from 80.38% pre-issue.
About 3,26,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 61,68,000 equity shares including anchor allocation portion. The issue and the net issue will constitute 26.33% and 25%, respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds to meet capital expenditure for setting up a power plant, working capital requirements, issue expenses, and general corporate purposes.
Ahead of the Nikita Papers on Monday, 26 May 2025, raised Rs 9.03 crore from anchor investors. The board has allotted 8.68 lakh shares at Rs 104 per share to 4 anchor investors.
Nikita Papers is a leading manufacturer of Kraft paper with an installed capacity of approximately 1,33,000 MTPA. The company produces Kraft paper ranging from 80 to 200 GSM in various Burst Factor (B.F.) grades, catering to diverse customer needs across the paper industry. As on 09 May 2025, the company had 208 employees.
The company recorded revenue from operations of Rs 265.14 crore and net profit of Rs 15.68 crore for the period ended 31 December 2024.