PNN
Mumbai (Maharashtra) [India], July 2: Three M Paper Boards Ltd, a Mumbai-based company engaged in the business of manufacturing recycled paper stuccoed Duplex Board products for more than 3 decades are planning to raise up to Rs. 40 crore through its SME IPO. The company has received approval to launch its public issue on the SME platform of BSE Ltd (BSE SME). The coated duplex boards produced by the company are made from 100% recycled waste paper and are fully biodegradable, making them an eco-friendly option for packaging various pharmaceutical and consumer goods products. Comfort Securities Limited is the lead manager of the issue.
The company is offering 57,72,000 new equity shares to be offered under the IPO; The shares will be listed on the SME platform of BSE Limited (BSE SME)
The initial public offering of Rs. 40 crore consists of fresh issue of 57,72,000 shares of Rs. 10 each. The net proceeds will be used for various purposes: Rs. 14 million rupees will be allocated for capital expenditure, including the purchase of a plastic-fueled low-pressure boiler, which will use waste plastic to generate energy and significantly reduce energy costs. Additionally, Hot & Soft Nip Calendars will be acquired to elevate product quality, allowing for premium pricing and aligning with customer preferences. The funds will also support the expansion of the factory building to increase storage capacity and the purchase of a sheet cutter to improve production speed. Rs. 10 crore will be allocated for working capital and Rs. 7 crore towards repayment of term loans, which will smoothen operations, improve cash flow management and reduce interest costs. The remaining funds will be used for general corporate purposes and issuance expenses.
Three M Paper Boards Limited (formerly known as Three M Paper Boards Private Limited and Three M Paper Manufacturing Company Private Limited), established in 1989, is one of the ISO-9001 certified companies engaged in the business of paper-based duplex board manufacturing. recycling. products ranging from 200 to 500 GSM used in various packaging applications in industries such as food and beverages, pharmaceuticals, cosmetics and consumer goods, and supplies its high quality duplex paperboard paper products to both the domestic and international markets. .
The company's products are made from 100% recycled waste paper and are completely biodegradable. The company aims to constantly carry out various innovations in both product development and manufacturing processes. The company's manufacturing facility at Chiplun, Maharashtra is spread over an area of over 30 acres and has an installed capacity of 72,000 tonnes per annum (TPA) along with a 4 MW captive power plant and is equipped with technology leading edge in manufacturing paper cartons to the global quality standard suitable for high-quality printing jobs in packaging sectors around the world. With a wide network of over 25 distributors across the country and export operations in over 15 countries, Three M Paper Boards maintains extensive market reach and a strong presence in the industry.
Mumbai (Maharashtra) [India], July 2: Three M Paper Boards Ltd, a Mumbai-based company engaged in the business of manufacturing recycled paper stuccoed Duplex Board products for more than 3 decades are planning to raise up to Rs. 40 crore through its SME IPO. The company has received approval to launch its public issue on the SME platform of BSE Ltd (BSE SME). The coated duplex boards produced by the company are made from 100% recycled waste paper and are fully biodegradable, making them an eco-friendly option for packaging various pharmaceutical and consumer goods products. Comfort Securities Limited is the lead manager of the issue.
The company is offering 57,72,000 new equity shares to be offered under the IPO; The shares will be listed on the SME platform of BSE Limited (BSE SME)
The initial public offering of Rs. 40 crore consists of fresh issue of 57,72,000 shares of Rs. 10 each. The net proceeds will be used for various purposes: Rs. 14 million rupees will be allocated for capital expenditure, including the purchase of a plastic-fueled low-pressure boiler, which will use waste plastic to generate energy and significantly reduce energy costs. Additionally, Hot & Soft Nip Calendars will be acquired to elevate product quality, allowing for premium pricing and aligning with customer preferences. The funds will also support the expansion of the factory building to increase storage capacity and the purchase of a sheet cutter to improve production speed. Rs. 10 crore will be allocated for working capital and Rs. 7 crore towards repayment of term loans, which will smoothen operations, improve cash flow management and reduce interest costs. The remaining funds will be used for general corporate purposes and issuance expenses.
Three M Paper Boards Limited (formerly known as Three M Paper Boards Private Limited and Three M Paper Manufacturing Company Private Limited), established in 1989, is one of the ISO-9001 certified companies engaged in the business of paper-based duplex board manufacturing. recycling. products ranging from 200 to 500 GSM used in various packaging applications in industries such as food and beverages, pharmaceuticals, cosmetics and consumer goods, and supplies its high quality duplex paperboard paper products to both the domestic and international markets. .
The company's products are made from 100% recycled waste paper and are completely biodegradable. The company aims to constantly carry out various innovations in both product development and manufacturing processes. The company's manufacturing facility at Chiplun, Maharashtra is spread over an area of over 30 acres and has an installed capacity of 72,000 tonnes per annum (TPA) along with a 4 MW captive power plant and is equipped with technology leading edge in manufacturing paper cartons to the global quality standard suitable for high-quality printing jobs in packaging sectors around the world. With a wide network of over 25 distributors across the country and export operations in over 15 countries, Three M Paper Boards maintains extensive market reach and a strong presence in the industry.
