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.
| Purpose | Amount (₹ Cr) |
|---|---|
| Capital expenditure for installation of new machinery, modernisation of certain processes under existing manufacturing facility and installation of plastic fired low pressure boiler; | — |
| Funding long-term working capital requirements of the Company; and | — |
| Prepayment or repayment of all or a portion of outstanding borrowing availed by the Company; | — |
| General corporate purposes. | — |
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 19,520 | 18,943 | 18,150 |
| Revenue | 27,602 | 32,975 | 31,600 |
| PAT | 1,135 | 662 | 328 |
| Net Worth | 6,110 | 4,726 | 4,064 |
| Reserves | 4,764 | 4,071 | 3,409 |
| Total Borrowing | 7,264 | 8,182 | 7,802 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 2,738,000 (47%) | — |
| NII / HNI | — | 824,000 (14%) | — |
| Retail (RII) | — | 1,920,000 (33%) | — |
| Market Maker | — | 290,000 (5%) | — |
| Total | — | 5,772,000 (100%) | — |
* Amount calculated at upper price band (₹69) · ** Total includes all investor categories
- 1 Initiation of Refund 19 Jul 2024
- 2 Credit of Shares to Demat 19 Jul 2024
- Retail allocation is good at 33% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 47%.
- The IPO P/E of 12x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹8 compares to post-issue EPS of ₹6 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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