VMPL
Mumbai (Maharashtra) [India], May 23: Nikita Papers Limited manufacturer of Kraft paper, has proposed its plan to go public with an Initial Public Offering on May 26, 2025 (For Anchor Investor) and May 27, 2024 (For other than Anchor Investor). The company is aiming to raise Rs 67.54 Crores at upper price band through this IPO, with shares set to be listed on the NSE Emerge.
The issue size is 64,94,400 equity shares of face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up to 18,50,400 Equity Shares
* Net QIB - Up to 12,33,600Equity Shares
* NII- Not Less than 9,25,200 Equity Shares
* RII- Not Less than 21,58,800 Equity Shares
* Market Maker - 3,26,400 Equity Shares
The net proceeds from the IPO will be utilized to meet capital expenditure for setting up a power plant, to meet the working capital requirements of the company, and for general corporate purposes and issue expenses.
The Book Running Lead Manager to the Issue is Fast Track Finsec Private Limited and the Registrar to the Issue is Skyline Financial Services Private Limited.
Mr. Sudhir Kumar Bansal, Chairman of Nikita Papers Limited expressed, "As we take the next step in our journey through the proposed initial public offering, our focus remains on building long-term value through responsible growth. At Nikita Papers Limited, we have steadily expanded our capabilities in Kraft paper manufacturing while maintaining a clear commitment to sustainability and operational efficiency.
The proceeds from this IPO will primarily support our investment in renewable energy infrastructure, including a power plant utilizing biomass and Refuse Derived Fuel, helping us reduce dependence on conventional energy sources. This initiative aligns with our goal of becoming more energy self-sufficient while minimizing environmental impact.
This step reflects our continued effort to align business performance with environmental responsibility. We look forward to this new chapter as we remain focused on consistent execution, practical innovation, and contributing to a cleaner, more efficient future for the paper industry."
Ms. Sakshi, Director of Fast Track Finsec Private Limited said, "We are pleased to be associated with Nikita Papers Limited in their proposed initial public offering. The company has demonstrated steady growth over the years, supported by a strong operational foundation, sound financial management, and a clear focus on sustainability.
Nikita's strategic investment in renewable energy infrastructure, including the planned biomass and RDF-based power plant, reflects a forward-looking approach aligned with evolving industry and environmental expectations. Their consistent performance, experienced leadership, and commitment to responsible manufacturing position the company well for its next phase of growth.
We believe this IPO represents a meaningful opportunity for the company to strengthen its capabilities and continue its progress in the Kraft paper manufacturing industry, which is experiencing growing demand due to increased global focus on sustainable and eco-friendly packaging solutions."
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