Aten Papers and Foam IPO Day 2 update: Subscription lags at 72%, GMP 10%

Aten Papers and Foam Day 2 subscription status: The SME IPO has received applications for 23,86,800 shares out of the 33,00,000 shares available

Aten Papers and Foam Day 2 subscription status: The initial public offering (IPO) of Aten Papers and Foam, an intermediary in the paper product supply chain, has received a tepid response from investors so far, with the issue still not fully subscribed. As per BSE data available at 10:25 AM on Monday, June 16, the SME IPO, has received applications for 23,86,800 shares out of the 33,00,000 shares available, resulting in a subscription rate of 72 per cent.

Aten Papers and Foam IPO grey market premium (IPO)

According to sources tracking unofficial market activities, the unlisted shares of Aten Papers were trading at around 106, reflecting a grey market premium of ₹10 or 10.4 per cent over the upper-end price of ₹96. 

Aten Papers and Foam IPO details

Aten Papers aims to raise ₹31.68 crore through a fresh issue of 3.3 million equity shares. There is no offer for sale (OFS) component. The company has reserved not more than 50 per cent of the net issue for Qualified institutional buyers (QIBs), not less than 35 per cent for retail investors, and not less than 15 per cent for Non-institutional investors (NIIs).  ALSO READ | Oswal Pumps IPO Day 2 update: Check subscription status, GMP, listing date 

Investors can bid for a minimum of 1,200 shares of Aten Papers IPO, and in multiples thereof, with the minimum investment amount of ₹1,15,200 at the upper price band.

Aten Papers and Foam IPO allotment date, listing date

The public offering opened for bidding on Friday, June 13, and is slated to close for subscription on Tuesday, June 17. Following the closure of the subscription window, the basis of allotment of the company's shares is tentatively scheduled to take place on Wednesday, June 18, 2025. Shares of Aten Papers are scheduled to be listed on the BSE SME on Friday, June 20, 2025.

Aten Papers and Foam IPO registrar, lead manager

Skyline Financial Services serves as the registrar for the public issue. Swastika Investmart is the sole book-running lead manager.  ALSO READ | Solid listing: Sacheerome shares list at 50% premium, beat IPO GMP forecast

Aten Papers and Foam IPO objective

According to the red herring prospectus, Aten Papers plans to use the proceeds from the public offering for capital expenditure, working capital requirements, and issue expenses, as well as for general corporate purposes.

About Aten Papers and Foam

Incorporated in January 2019, Aten Papers and Foam operates as an intermediary in the paper product supply chain. As a middleman in the paper product supply chain, it procures paper from different paper mills and resells it to its clients in the packaging products industry. The company's product portfolio includes Kraft Papers and Suplex boards with a wide range of grades, thicknesses, widths, and standards.