Shreenath Paper Products IPO listing today. Here's what GMP signals ahead of debut
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Shreenath Paper Products saw a subdued response for its IPO and the company's shares will debut on the BSE SME platform on Wednesday. Ahead of the listing, the GMP is Nil in the grey market. Most of the SME IPOs this year had zero premiums in the unofficial market, impacted by the correction in the equities. The company offered around 53 lakh shares to investors, where the IPO was subscribed just over 1.5x. Retail investors made the highest bids, which was not backed up by non-institutional investors. Shreenath Paper will use the Rs 23 crore it raised from the IPO for meeting incremental working capital requirements and general corporate purposes. Shreenath Paper Products: Company overview The company is a leading supply chain solutions provider, catering to industries where paper forms a major part of raw materials. It specialises in supplying a wide range of paper products, including sublimation base paper, thermal base paper, straw...