Astron Paper & Board Mill IPO
Astron Paper & Board Mill IPO — date, price band, lot size & details 2017
Astron Paper & Board Mill listed on 29 Dec 2017 at ₹115, 130% above the ₹50 issue price.
Astron Paper & Board Mill makes kraft paper from waste paper at Halvad, Gujarat, for corrugated boxes and other packaging. Its total income was Rs 184.59 crore in FY2017.
Stock price
Astron Paper & Board Mill is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 15 Dec 2017
- Close 20 Dec 2017
- Allotment 26 Dec 2017
- Refund/credit 27 Dec 2017
- Listing 29 Dec 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 20 Dec, 2017 |
|---|---|
| Price Band | ₹45 – ₹50 |
| Face Value | ₹10 |
| Lot Size | 280 Shares |
| Issue Size | ₹69.83 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 2.50 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 280 shares at the ₹50 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 280 | ₹14,000 |
| Retail (max) | 14 | 3,920 | ₹1,96,000 |
| S-HNI (min) | 15 | 4,200 | ₹2,10,000 |
| S-HNI (max) | 71 | 19,880 | ₹9,94,000 |
| B-HNI (min) | 72 | 20,160 | ₹10,08,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 152.14 crore in FY2015 to Rs 184.59 crore in FY2017.
- 02Profit after tax rose from Rs 4.13 crore in FY2015 to Rs 9.96 crore in FY2017, and was Rs 9.46 crore in six months to September 2017.
- 03Rs 23.02 crore of the issue was for a new kraft paper facility.
- 04It uses waste paper, a low cost raw material; net worth was Rs 54.03 crore.
Risks · 5
- 01Total borrowing was Rs 86.16 crore on 30 September 2017, above its net worth of Rs 54.03 crore.
- 02Waste paper prices can swing and drive its costs; Rs 23.90 crore was for working capital.
- 03Kraft paper is a commodity with many small rivals; profit was only Rs 6.09 crore in FY2016.
- 04It has a single plant at Halvad, so a disruption there hits the whole business; total assets were Rs 182.30 crore.
- 05Promoter holding fell from 62.64% before the issue to 43.78% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Astron Paper & Board Mill offer document.
| Metric | 30 Sep 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 182.30 | 172.75 | 158.45 | 137.24 |
| Total Income | 110.96 | 184.59 | 157.85 | 152.14 |
| Profit After Tax | 9.46 | 9.96 | 6.09 | 4.13 |
| NET Worth | 54.03 | 45.32 | 35.36 | 29.28 |
| Reserves and Surplus | 21.53 | 12.82 | 2.86 | -3.23 |
| Total Borrowing | 86.16 | 81.18 | 70.34 | 65.19 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹58.61 Cr of the issue is earmarked to named objects.
About the company
Its paper is used mainly in packaging, for corrugated boxes and liners, corrugated sacks and composite containers.
Its manufacturing facility is at Halvad, Gujarat, and it uses waste paper as raw material.
The IPO was Rs 69.83 crore and was entirely fresh issue at Rs 50, the top of the Rs 45 to Rs 50 band. The money was for a new low GSM kraft paper facility, repaying an unsecured loan and working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Astron Paper & Board Mill IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Pantomath Capital Advisors Pvt Ltd
20 issues handledBest listing: Aeroflex Industries (+75.9%). Weakest: Glottis (-34.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Astron Paper & Board Mill?
The current Grey Market Premium is ₹29, or 58% over the issue price.
What is the Astron Paper & Board Mill IPO price band?
₹45 to ₹50, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 December 2017, with listing on 29 December 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
