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Three M Paper IPO
Price Band
₹67.0–69.0
Issue Size
₹39.83 Cr
Lot Size
2,000 shares
Min Investment
₹138,000
GMP
+₹30.0 (43.48%)
Issue Price
₹69.0
Subject to Sauda
₹45600
Paid only if allotted
Three M Paper IPO AI Summary
- Three M Paper IPO is listed on BSE SME in the Paper & Paper Products sector.
- Price band: ₹67.0–₹69.0 per share, lot size 2,000 shares (min. investment ₹138,000).
- Subscription window: 12 Jul–16 Jul 2024, listing on 22 Jul 2024.
- Current GMP is +₹30.0 (43.48%), an estimated listing price of ₹99 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Three M Paper IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 16 Jul 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Three M Paper IPO Grey Market Premium (GMP) Today
GMP
+₹30.0
GMP %
+43.48%
Est. Listing
₹99.0
Updated: 25 Jul 2026 14:05
About the Company
Founded in July 1989, Three M Paper Boards Limited manufactures high-quality recycled paper-based Duplex Board products for packaging applications across various industries, including food and beverage, pharmaceuticals, cosmetics, and consumer goods. The company supplies its products in both domestic and international markets. The company is based in Mumbai, with a manufacturing facility in Chiplun, Dist. Ratnagiri, Maharashtra. It has a manufacturing capacity of 72,000 TPA of paper as of FY 2022-23. The company has about 25 dealers spread across India, ensuring our presence nationwide with a strong distribution network. The company specialize in manufacturing recycled paper-based Duplex Board products for packaging in industries like food, beverage, pharmaceuticals, cosmetics, and consumer goods, catering to both domestic and international markets. The company shipped its products to over 15 countries in the Asia-Pacific, Middle East, the Mediterranean, and African regions. This shows that TMP's high-quality products meet global standards. As of February 2024, the company employs 231 employees in various departments.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 195.20 | 189.43 | 181.50 | 142.26 |
| Total Income | 276.02 | 329.75 | 316.00 | 165.52 |
| Profit After Tax | 11.35 | 6.62 | 3.28 | 1.73 |
| NET Worth | 61.10 | 47.26 | 40.64 | 37.37 |
| Reserves and Surplus | 47.64 | 40.71 | 34.09 | 30.82 |
| Total Borrowing | 72.64 | 81.82 | 78.02 | 53.53 |
Key Ratios
EPS
₹8.43
NAV
₹45.38
ROE
18.57%
ROCE
19.71%
RoNW
18.51%
P/B Value
1.52
P/E Ratio
8.19
Market Cap
₹132.74 Cr
PAT Margin
4.11%
Debt/Equity
1.19
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Shree Ajit Pulp And Paper Ltd | 302.68 | 3.51% | 15.86 | 7.11 | 7.11 |
| Kuantum Papers Ltd. | 128.79 | 12.07% | 7.64 | 12.35 | 12.35 |
| N R Agarwal Industries Ltd | 446.73 | 16.5% | 6.84 | 46.05 | 46.05 |
| Three M Paper Boards Limited This IPO | 45.38 | 18.57% | — | 91.89 | 91.89 |
Promoters
Hitendra Dhanji Shah, Prafulla Hitendra Shah and Rushabh Hitendra Shah
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital expenditure for installation of new machinery, modernisation of certain processes under existing manufacturing facility and installation of plastic fired low pressure boiler; 14.00 2 Funding working capital requirements of the Company; and 10.00 3 Prepayment or repayment of all or a portion of outstanding borrowing availed by the Company; 7.00 4 General corporate purposes 1.39
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹316.00 Cr in FY 2021-22, increasing to ₹329.75 Cr in FY 2022-23, but then decreased to ₹276.02 Cr by FY 2023-24. This indicates a decline in revenue in the most recent period, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax increased from ₹3.28 Cr in FY 2021-22 to ₹6.62 Cr in FY 2022-23, and further rose to ₹11.35 Cr by FY 2023-24. This shows a positive trend in profitability over the periods.
Valuation
The company's implied P/E at the issue price is approximately 8.19, compared to peers trading at P/E ratios ranging from 6.84 to 15.86.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the difference between the issue price and the price at which the shares are traded in the grey market before they are officially listed. A positive GMP suggests that investors expect the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, as they can be subject to significant price fluctuations and market uncertainties.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor could make by selling shares on the listing day if the stock price rises above the issue price. However, these gains are not guaranteed and can be influenced by market conditions and investor sentiment. It's important to understand that the stock price may fluctuate significantly after listing.
This evaluation is generated from Three M Paper's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Three M Paper IPO GMP today?
Three M Paper IPO GMP today is +₹30.0 (43.48%), indicating an estimated listing price of ₹99. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Three M Paper IPO?
The price band of Three M Paper IPO is ₹67.0–₹69.0 per share.
When does Three M Paper IPO open and close?
Three M Paper IPO opens on 12 July 2024 and closes on 16 July 2024.
When does Three M Paper IPO list on the stock exchange?
Three M Paper IPO listed on 22 July 2024 at ₹99.0.
What is the lot size for Three M Paper IPO?
The lot size for Three M Paper IPO is 2000 shares, requiring a minimum investment of ₹138,000.
What is the price band for the IPO?
The price band for the IPO is ₹67.0 to ₹69.0.
What is the minimum investment required?
The minimum investment required is ₹138,000.
What is the lot size for this IPO?
The lot size for this IPO is 2000 shares.
When is the listing date for the IPO?
The listing date for the IPO is July 22, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Jul 2024
Close
16 Jul 2024
Allotment
18 Jul 2024
Listing
22 Jul 2024
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