Aten Papers & Foam IPO - Day 3 Subscription at 1.49 Times

Aten Papers & Foam's initial public offering (IPO) has demonstrated modest investor demand through its three-day subscription period, with Aten Papers & Foam's stock price band set at ₹91 to ₹96 per share and Aten Papers & Foam's share price expected to reflect moderate market reception. The ₹31.68 crore IPO has witnessed gradual progress, with subscription rates opening at 0.69 times on day one, improving to 0.93 times on day two, and reaching moderate 1.49 times by 5:04:33 PM on the final day, demonstrating measured investor interest in this intermediary in the paper product supply chain that sources paper from various mills and supplies it to clients in the packaging industry, offers Kraft paper, duplex boards, and other products in various grades, thicknesses, and sizes while also purchasing and selling wastepaper to paper mills as crucial raw material, operates with products including recycled Kraft paper for packaging primarily to Gujarat-based customers, absorbent Kraft paper used in interior décor and furniture, durable eco-friendly Kraft paper bags for packaging groceries and medical items, and tube Kraft paper manufactured using materials like wood pulp, kraft paper, and cardboard based on application requirements.

Aten Papers & Foam IPO qualified institutional buyers segment leads with solid 2.91 times subscription, while retail investors show encouraging participation at 2.17 times and non-institutional investors demonstrate weak interest at 0.66 times, reflecting cautious investor confidence in this company that has experienced senior management team with variety of products, maintains high credibility with bankers and existing lines of credit since 2019, operates in-house logistics with ready stock capabilities, employs 14 people as of November 2024, and has promoters Mr. Mohamedarif Mohamedibrahim Lakhani and Mrs. Amrin Lakhani with 99.99% pre-issue shareholding. 

Aten Papers & Foam IPO subscription reaching modest 1.49 times on the final day, led by QIB (2.91x), Retail (2.17x), and NII (0.66x). Total applications reached 3,092.

Subscription Status of Aten Papers & Foam IPO:

Here are the subscription details for Aten Papers & Foam IPO as of Day 3 (June 17, 2025, 5:04:33 PM):

Key Highlights - Day 3:

• Overall subscription reaching a modest 1.49 times, a moderate improvement from day two's 0.93 times
• QIB segment leading with solid demand at 2.91 times, a significant jump from day two's 1.02 times
• Retail segment showing encouraging participation at 2.17 times, good improvement from day two's 1.40 times
• NII segment showing weak interest at 0.66 times, modest improvement from day two's 0.45 times
• Total applications reached 3,092, indicating limited investor participation
• The cumulative bid amount reached ₹44.836 crores against the issue size of ₹31.68 crores
• The final day demonstrated cautious investor sentiment in the paper trading sector
• QIB category driving subscription improvement with institutional investor interest
• NII category remaining undersubscribed, indicating limited high-net-worth investor appeal

Aten Papers & Foam IPO - Day 2 Subscription at 0.93 Times

Key Highlights - Day 2:

• Overall subscription improving to 0.93 times, showing steady progress from day one's 0.69 times
• Retail segment leading with moderate demand at 1.40 times, improvement from day one's 0.93 times
• QIB segment maintains stable interest at 1.02 times, unchanged from day one
• NII segment showing weak participation at 0.45 times, slight improvement from day one's 0.41 times
• The second day demonstrated gradual building of confidence in the paper trading sector
• Retail category showing encouraging momentum, while institutional participation remains measured

Aten Papers & Foam IPO - Day 1 Subscription at 0.69 Times

Key Highlights - Day 1:

• Overall subscription opening is moderate at 0.69 times, showing cautious initial investor interest
• QIB segment leading with solid early participation at 1.02 times, indicating institutional confidence
• Retail segment showing moderate early interest at 0.93 times, reflecting individual investor caution
• NII segment showing weak initial participation at 0.41 times on day one
• Opening day demonstrates measured investor engagement across categories
• Initial momentum reflecting a cautious assessment of the paper trading business model
• Modest first-day foundation indicating limited market enthusiasm

About Aten Papers & Foam IPO

Incorporated in 2019, Aten Papers & Foam Limited operates as a key intermediary in the paper product supply chain, sourcing paper from various mills and supplying it to clients in the packaging industry. The company offers Kraft paper, duplex boards, and other products in various grades, thicknesses, and sizes, while also purchasing and selling wastepaper to paper mills as crucial raw material.
Financial performance shows strong growth with revenue increasing 43% from ₹96.80 crores in FY2024 to ₹138.70 crores in FY2025, while profit after tax surged 152% from ₹2.78 crores to ₹7.01 crores. The company maintains solid profitability metrics with 66.53% ROE, 43.84% ROCE, and operates with a debt-to-equity ratio of 0.79 and a market capitalisation of ₹98.88 crores.

Highlights of the Aten Papers & Foam IPO:

• IPO type: Book Building IPO
• IPO size: ₹31.68 crores
• Fresh Issue: 33.00 lakh shares
• Face value: ₹10 per share
• Issue price band: ₹91 to ₹96 per share
• Lot size: 1,200 shares
• Minimum investment for retail investors: ₹1,15,200 (1 lot, 1,200 shares)
• Minimum investment for HNI: ₹2,30,400 (2 lots, 2,400 shares)
• Market maker reservation: 1,65,600 shares
• Book-running lead manager: Swastika Investmart Ltd
• Registrar: Skyline Financial Services Private Ltd
• Market maker: Sunflower Broking Private Limited
• Listing at: BSE SME
• IPO opens: June 13, 2025
• IPO closes: June 17, 2025
• Allotment date: June 18, 2025
• Listing date: June 20, 2025
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