Three M Paper Boards Limited IPO
Three M Paper Boards Limited IPO
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Three M Paper Boards Limited's has transitioned to a publicly listed entity following its IPO debut on 22-07-2024 at the BSE exchange. The public offering successfully raised 57,72,000 Shares, consisting of 57,72,000 Sharesin new capital.
The IPO featured a competitive price range of ₹67 to ₹69 and minimum application size of 2000 shares. Market reception was evidenced through subscription activity between 12-07-2024 and 16-07-2024, reflecting investor appetite for the offering.
Allotment of shares was completed on 18-07-2024, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Three M IPO About Company
Three M Paper Boards Limited, established in 1989, is a leading manufacturer of high-quality recycled paper-based Duplex Board products catering to industries like food and beverage, pharmaceuticals, cosmetics, and consumer goods. Headquartered in Mumbai, the company operates a manufacturing facility in Chiplun, Maharashtra, with a production capacity of 72,000 TPA as of FY 2022-23. With a strong distribution network of 25 dealers across India, Three M Paper Boards also exports to over 15 countries in the Asia-Pacific, Middle East, Mediterranean, and Africa. As of February 2024, the company employs 231 individuals, reinforcing its position as a key player in the packaging industry.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Three M IPO Strength Factors
- Established Industry Presence: With 34 years in the Duplex Paper industry, Three M Paper Boards Limited is a trusted and well-recognized brand.
- Experienced Leadership: Led by seasoned promoters with a strong track record, ensuring stability and strategic growth.
- Diverse Product Offerings: A broad portfolio catering to multiple industries, serving both domestic and international markets.
Three M IPO Risk Factors
- Legal Uncertainties: Ongoing legal proceedings involving the company, promoters, and directors pose potential risks to business operations and financial stability if outcomes are unfavorable.
- Revenue Concentration Risk: Heavy reliance on a few key customers means any loss or decline in demand could significantly impact cash flow and overall financial performance.
- Financial Instability: A history of negative cash flows from operating, investing, and financing activities raises concerns about long-term sustainability and growth prospects.
Three M IPO Lead Manager(s)
- Comfort Securities Private Limited
Three M IPO Promoter(s)
- Mr. Hitendra Dhanji Shah
- Mrs. Prafulla Hitendra Shah
- Mr. Rushabh Hitendra Shah
Three M IPO FAQs
Three M Paper Boards Limited IPO subscribed 171.41 times. The public issue subscribed 175.19 times in the retail category,79.37times in QIB, and -- times in the HNI (10+) category byNovember 21, 2025 12:43:05 PM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Three M IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Three M IPO FAQs
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