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09 Jul, 2025
Aten Papers & Foam Limited IPO
Aten Papers & Foam Limited is launching its SME IPO with a fresh issue of 33,00,000 equity shares, aggregating up to ₹31.68 crores. The IPO is priced in the range of ₹91 to ₹96 per share with a minimum lot size of 1,200 shares (investment of ₹1,09,200 to ₹1,15,200 for retail investors). The issue opens on June 13, 2025, and closes on June 17, 2025, with listing expected on the BSE SME platform on June 20, 2025. The IPO is a book-built issue, and the entire offering consists of fresh shares, with no offer for sale component.
Company Background
Founded in 2019, Aten Papers & Foam Limited operates as a key intermediary in the paper product supply chain, primarily in Gujarat. The company acts as a crucial middleman, procuring paper from mills and reselling it to clients in the packaging industry, as well as purchasing waste paper and supplying it to mills.
Operations & Product Range
Facility & Production:
Aten Papers & Foam's operations are headquartered in Ahmedabad, Gujarat, with a registered office and warehouse in Changodar. The company is planning to expand with new waste paper processing units at three locations in Ahmedabad: Changodar, Sanand, and Narol.
Brands & Market Presence:
The company offers a broad range of paper products, including Kraft Paper and Duplex Board, available in various grades, thicknesses, and standards as per customer specifications. Aten’s business is currently focused on the domestic market, especially Gujarat, which is a strategic hub for the packaging and paper industry.
Company Overview: Aten Papers & Foam Limited
Aten Papers & Foam Limited is an emerging name in the manufacturing industry, focused on producing eco-friendly kraft paper and polyurethane foam. The company primarily serves B2B clients across industries like packaging, consumer goods, and furniture manufacturing. Its production facilities are strategically located in industrial zones, allowing it to maintain operational efficiency and reduce logistical costs.
One of the standout aspects of Aten Papers is its commitment to sustainability. The company incorporates recycled materials in its kraft paper production, aligning its processes with modern environmental and ESG standards. This focus not only supports green initiatives but also attracts clients looking for sustainable business partners.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Aten Papers & Foam Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Aten Papers & Foam Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 13, 2025 to June 17, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹91 to ₹96 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 33,00,000 shares (aggregating up to ₹31.68 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 70,00,000 shares |
| Share Holding Post Issue | 1,03,00,000 shares |
| Fresh Issue | 33,00,000 shares (aggregating up to ₹31.68 Cr) |
Aten Papers & Foam Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Fri, Jun 13, 2025 |
| IPO Close Date | Tue, Jun 17, 2025 |
Aten Papers & Foam Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹1,15,200 |
| Retail (Max) | 1 | 1200 | ₹1,15,200 |
| HNI (Min) | 2 | 2400 | ₹2,30,400 |
Aten Papers & Foam IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,65,600 (5.02%) |
| Anchor Investor Shares Offered | - |
| QIB | 1,54,800 (4.69%) |
| NII (HNI) Shares Offered | 14,89,200 (45.13%) |
| Retail Shares Offered | 14,90,400 (45.16%) |
| Total Shares Offered | 33,00,000 (100.00%) |
Aten Papers & Foam Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 99.99% | - |
Competitive Strength:
- ● Diverse :Wide range of paper products for packaging, printing, and export needs.
- ● Asset-Light Model: Order-driven approach keeps costs low and improves efficiency.
- ● Strong Liquidity: Utilizes credit lines and liquidity position to secure better margins and negotiate effectively.
- ● In-House Logistics: Owns four commercial vehicles and supplements with third-party transport as needed.
- ● Financial Growth: Revenue increased from ₹9,099.72 lakhs (FY23) to ₹9,679.82 lakhs (FY24), with PAT rising from ₹50.26 lakh to ₹278.10 lakh in the same period.
- ● Improving Profitability: Wide range of paper products for packaging, printing, and export needs.
Aten Papers & Foam Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 34.9 | 138.7 | 7.01 | 14.04 | 11.13 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 32.92 | 96.8 | 3 | 7 | 16 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 29.62 | 91 | 0.5 | 4.25 | 16.03 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 27.85 | 89.82 | 0.76 | 3.74 | 15.44 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 66.53% |
| ROCE | 43.84% |
| Debt/Equity | 0.79 |
| RoNW | 49.93% |
| PAT Margin | 5.06 |
| Price to Book Value | 4.79 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.02 | 6.81 |
| P/E (x) | 9.58 | 14.1 |
Objectives of the IPO
- Capital Expenditure – Up to ₹4.25 crores will pay for new units that process waste paper at three sites in Ahmedabad.
- Working Capital – Around ₹15.50 crores is earmarked to cover day-to-day costs that grow as the company expands.
- General Corporate Purposes – The leftover cash will fund branding, small upgrades, and any other urgent projects that arise.
These strategic allocations suggest a forward-looking approach to ensure sustainable growth and profitability.
Conclusion
AAten Papers & Foam Limited is a vital intermediary in the paper supply chain, with a strong regional presence and an expanding operational base. The company’s asset-light, order-driven model, coupled with experienced leadership and a focus on sustainability through wastepaper trading, positions it well for future growth. The IPO aims to fund expansion, working capital, and corporate initiatives, offering investors participation in a growing segment of the packaging and paper industry.
RHP:
DRHP:
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Frequently asked Questions (FAQs )
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1. What are the Aten Papers & Foam IPO dates?
The offer opens on June 13, 2025, runs through June 17 and should begin trading on June 20.
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2. What is the IPO price band and lot size?
Shares are priced in the band of ₹91 to ₹96 and investors must apply for at least 1,200 shares.
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3. What is the total issue size of the IPO?
The IPO consists of a fresh issue of 33,00,000 equity shares, aggregating up to ₹31.68 crores.
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4. Where will the shares be listed?
Shares will first appear on the BSE SME board.
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5. . What does the company plan to do with the money raised?
Funds will pay for new waste-paper units, cover day-to-day cash needs, and handle normal corporate expenses.
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6. Who backs Aten Papers & Foam Limited as promoters?
Mr. Mohamedarif Mohamedibrahim Lakhani and Mrs. Amrin Lakhani are the main promoters.
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7. What is the company’s core business?
Aten Papers & Foam operates as a trader of paper products and wastepaper, serving as a key intermediary in the paper supply chain.
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8. What are the key strengths of the company?
Diverse product range, asset-light business model, strong liquidity, and experienced management team.
