Nikita papers iPo Listing: Nikita papers shares of paper and paper -related products were entered on a huge discount in the domestic market today. Its IPO also received mixed response and the share of qualified institutional buyers (QIB) was not even found. Under the IPO, shares have been issued at a price of Rs 104. Today, it entered NSE SM at Rs 90.00, that is, IPO investors did not get any listing gains but their capital declined by 13.46 percent. After the discount listing, more shock came when the shares broke to the lower circuit of Rs 85.50 (Nikita Papers Share Price) i.e. IPO investors are now 17.79 percent losses.
How will Nikita Papers spend IPO money
Nikita papers opened ₹ 67.54 crore IPO for subscription from 27-29 May. This IPO overall it was subscribed to 1.43 times. It had a share reserved for qualified Institutional Buyers (QIB), 0.74 times, a share of non-institutional investors (NII) 2.11 times and a share of retail investors was filled 1.84 times. Under this IPO, 64,94,400 new shares with a face value of Rs 10 have been issued. Of the money raised through these shares, Rs 50 crore will be spent on setting up a power plant, Rs 5 crore working capital needs and the rest of the money will be spent on IPO expenses and common corporate objectives.
About nikita papers
Nikita Papers made in the year 1989 prepares products related to paper and paper. Its business is spread over the country and abroad. It also works related to packaging, tissue paper or special paper products. Talking about the financial health of the company, it has been strongly strengthened. It made a net profit of Rs 6.95 crore in FY 2022, which jumped in the next financial year 2023 to Rs 8.65 crore and Rs 16.60 crore in FY 2024. However, during this time there was a fluctuating in the company’s revenue. It received a revenue of Rs 358.49 crore in FY 2022, Rs 401.31 crore in FY 2023 and Rs 346.78 crore in FY 2024. Talking about the last financial year 2024-25, in April-December 2024, it has received a net profit of Rs 15.68 crore and a revenue of Rs 272.38 crore.
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