NSE SME Nikita Papers' IPO ends with 1.4 times subscription

The offer received bids for 78.88 lakh shares as against 56.25 lakh shares on offer.

The initial public offer (IPO) of Nikita Papers received bids for 78,88,800 shares as against 56,25,600 shares on offer. The issue was subscribed 1.40 times.

Retail investors bid for 39,66,000 shares, non-institutional investors bid for 22,82,400 shares and qualified institutional investors bid for 16,40,400 shares.

The issue opened for bidding on 27 May 2025 and it closed on 29 May 2025. The price band of the IPO was set at Rs 95 to Rs 104 per share. The equity shares will list on NSE's SME platform.

The IPO comprised fresh issue of 64,94,400 equity shares. The promoter and promoter group shareholding diluted to 59.219% from 80.38% pre-issue.

The company intends to utilize the net proceeds to meet capital expenditure for setting up a power plant, working capital requirements, issue expenses, and general corporate purposes.

Ahead of the Nikita Papers on 26 May 2025, raised Rs 9.03 crore from anchor investors. The board has allotted 8.68 lakh shares at Rs 104 per share to 4 anchor investors.

Nikita Papers is a leading manufacturer of Kraft paper with an installed capacity of approximately 1,33,000 MTPA. The company produces Kraft paper ranging from 80 to 200 GSM in various Burst Factor (B.F.) grades, catering to diverse customer needs across the paper industry. As on 09 May 2025, the company had 208 employees.

The company recorded revenue from operations of Rs 265.14 crore and net profit of Rs 15.68 crore for the period ended 31 December 2024.

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