About Saffron Speciality Papers Limited IPO
Saffron Speciality Papers IPO Details
Saffron Speciality Papers Ltd. is a 100% book-built issue consisting a fresh issue of 54 lakh equity shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on December 31, 2025 and received approval on February 24, 2026.
The price band and official date of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE SME platform. The book-running lead manager of the issue is BOI Merchant Bankers Ltd., while the registrar to the offer is NSDL Database Management Ltd.
Saffron Speciality Papers IPO Date & Timeline
Saffron Speciality Papers Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on December 31, 2025. However, the specific Saffron Speciality Papers IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
Saffron Speciality Papers Limited IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
Saffron Speciality Papers Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital |
| Total Issue Size | 55,60,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | - |
| Offer for Sale | - |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,32,53,951 shares |
| Share Holding Post Issue | 1,88,13,951 shares |
Saffron Speciality Papers IPO GMP
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Saffron Speciality Papers IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Saffron Speciality Papers Ltd. was incorporated on April 15, 2008, as “Albatross Speciality Papers Private Ltd.” in Maharashtra, Mumbai. Then, on January 28, 2011, the company changes its name to “Saffron Speciality Papers Pvt. Ltd"; on September 17, 2024, the company converted into a public limited company to proceed with its public listing procedure.
The company has evolved over the years into a recognized player in the paper stationery, printing and packaging industries under the Commercial printing segment. In this, the company produces paper products (diary, book and so on) and supplied with various cards, also words on various clients as per their requirements.
Operations & Product Range
The core operations of Saffron Speciality Papers Ltd. are divided into 3 primary segments, including Back-to-School Paper Stationery segment catered to domestic corporate orders and international authorized dealers, Commercial Printing segment focuses on executing high-volume institutional printing contracts, directly serving customers in the Banking, Financial Services and Insurance (BFSI) sector and the Paper Packaging Products segment provides comprehensive packaging solutions to industries such as FMCG, Food & Beverages, Pharmaceuticals, E-commerce and Personal Care.
Facilities & Capacity
Saffron Speciality Papers Ltd. operates its manufacturing and operational facilities from its registered base in Maharashtra. With around one and a half decade of experience in printed paper stationery products and a complete in-house production facility with strict manufacturing steps to meet the customised demands. The company focuses on adopting advanced technologies such as digital printing, automated die-cutting and digital finishing. The company’s utilisation in its core activities is affected by the storage of raw material, customer requirement and market conditions; so, the company aims to use some percentage of proceeds in the extension of its manufacturing facility.
Brands & Market Presence
Saffron Speciality Papers Ltd. maintains a solid market presence both domestically and internationally. The company actively engages in tender-based businesses and services major Indian brands. Additionally, it holds domestic and export sales capabilities. A notable recognition is its status as a Two-Star Export House, certified by the Directorate General of Foreign Trade, Department of Commerce. This certification, valid until March 31, 2028, underscores its established export exposure and credibility in international markets.
Revenue Streams & Business Model
Saffron Speciality Papers Ltd. generates revenue through its three core business divisions: paper stationery, commercial printing and paper packaging. The business model involves securing bulk orders from domestic corporates, executing recurring printing contracts for the BFSI sector and providing packaging solutions to consumer-focused industries. The company also generates revenue from exports, leveraging its status as an authorized export house. The company's revenue from operations has grown steadily, reaching ₹250.64 crore in FY25, up from ₹190.54 crore in FY24 and ₹131.58 crore in FY23.
Management & Shareholding
The promoters of Saffron Speciality Papers Ltd. are Sweta Agarwal, Harshiel Agarwal and Abbas Presswala. Before the IPO, the promoters held an 88.72% stake and the promoter group held a 0.68% stake and the public shareholders held a 10.59% stake in the company; but, after the IPO, the promoters' and promoter group’s ownership will be slightly diluted as the offering includes only a fresh issue of shares.
Board & Key Management
Saffron Speciality Papers Ltd. is led by an experienced team, with Sweta Agarwal serving as Chairman and providing strategic direction while also managing the company’s day-to-day operations as Managing Director, supported by Whole-Time Director Amisha Agarwal. The board is further strengthened by Independent Directors Narayanan Ananthakrishnan Iyer, Mahavir Prasad Hingar and Jaykishan Rathi, who help ensure strong governance and effective oversight, collectively contributing to the company’s growth and success.
Saffron Speciality Papers Limited IPO Financial Information
Latest Revenue
49.73
₹ Crore
Profit After Tax
2.13
₹ Crore
Net Worth
40.47
₹ Crore
Total Borrowing
117.66
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 196.38 | 49.73 | 2.13 | 40.47 | 27.21 | 117.66 | |||
| 31 Mar 2025 | 212.51 | 253.25 | 10.68 | 38.34 | `25.08 | 140.96 | |||
| 31 Mar 2024 | 123.76 | 190.90 | 6.24 | 18.66 | 6.31 | 90.14 | |||
| 31 Mar 2023 | 77.92 | 132.57 | -0.02 | 11.35 | 10.19 | 39.05 | |||
| Amount in ₹ Crore | |||||||||
Saffron Speciality Papers Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 37.48% |
| ROCE | 24.06% |
| Debt/Equity | 3.68 |
| RoNW | 37.48% |
| PAT Margin | 4.22% |
| EBITDA Margin | 9.20% |
Saffron Speciality Papers IPO Objectives
The company mainly aims to fund its Saffron Speciality Papers IPO proceeds for strategic purposes:
- • Establishment of new manufacturing facility in Maharashtra
- • Repayment/prepayment of debt (in part or in full)
- • Funding the working capital requirement
- • General corporate purposes
Saffron Speciality Papers IPO Review
Saffron Speciality Papers Ltd. is positioned as a diversified player in the paper stationery, printing and packaging industries. The company’s ability to serve multiple sectors, including BFSI, FMCG and E-commerce, provides a balanced operational base. Its status as a Two-Star Export House also indicates a commitment to expanding its international footprint.
Financially, the company has demonstrated a clear growth trajectory. Revenue from operations increased from ₹131.58 crore in FY23 to ₹250.64 crore in FY25, accompanied by an EBITDA of ₹23.05 crore in the latest fiscal year. This indicates scaling operations and the ability to handle larger order volumes across its business segments.
The business highlights key strengths, including an experienced management team and an established execution track record for high-volume tenders. However, it also highlights potential risks, such as supplier concentration, raw material price fluctuations and exposure to foreign currency exchange risks due to its export business. Overall, the IPO presents an opportunity to track a company expanding its capacity and technological integration in the packaging space.
Conclusion
Saffron Speciality Papers IPO is an opportunity to invest in a growing company that operates with an influenced footprint in paper stationery, commercial printing and paper packaging. With its established market presence, recognized export capabilities and a focus on expanding its operational infrastructure, Saffron Speciality Papers Ltd. serves a wide range of industries, from BFSI to FMCG. With this listing, the company aims to established its new manufacturing unit, reduce its long-term borrowings and maintain its day-to-day operational activities.
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Competitive Strengths
Experienced management and operational team with an execution track record in high-volume tenders.
Diversified business segments serving multiple industries such as BFSI, FMCG, Pharmaceuticals and E-commerce.
Recognized as a Two-Star Export House, highlighting established international market credibility.
Integration of advanced technologies and plans to adopt automated and eco-friendly printing practices.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 0 | 0 | 0 |
| Individual investors (Retail) (Max) | 0 | 0 | 0 |
| S-HNI (Min) | 0 | 0 | 0 |
| S-HNI (Max) | 0 | 0 | 0 |
| B-HNI (Min) | 0 | 0 | 0 |