Aaradhya Disposal IPO to list today; no grey market premium signals flat debut
is set to debut on the
NSE SME platform
on Monday following a moderately subscribed Rs 45.10 crore IPO. The
grey market premium
(GMP) is currently at zero, indicating that the stock may open around its issue price of Rs 116 per share.
The IPO, which opened on August 4 and closed on August 6, was entirely a fresh issue of 38.88 lakh shares. It received 1.41 times subscription overall, with the qualified institutional buyers (QIB) segment leading demand at 2.51 times. Retail investors subscribed 1.46 times their portion, while the non-institutional investor (NII) category saw 1.25 times subscription.
Madhya Pradesh-based Aaradhya Disposal manufactures and exports a wide range of paper products, including paper cup blanks, ripple paper, coated paper rolls, and various food-grade papers such as greaseproof and oil- and grease-resistant paper.
The company operates a single manufacturing facility in Dewas, with two units having a combined installed capacity of 15,000 metric tonnes per annum. It serves both domestic and international markets, with exports to Asia and the Middle East.
Financially, the company reported a 54% year-on-year increase in revenue to Rs 113.69 crore in FY25, while profit after tax surged 158% to Rs 10.27 crore from Rs 3.99 crore a year earlier.
Proceeds from the IPO will be used to meet working capital requirements (Rs 20 crore), fund expansion plans including plant and machinery purchases and civil works (Rs 15.86 crore), prepay certain term loans (Rs 1.60 crore), and for general corporate purposes.
Despite solid growth in profitability and a diversified product range catering to high-margin
biodegradable products
, the absence of a GMP points to muted listing-day sentiment.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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