Aten Papers & Foam Limited, a fast-growing player in India’s packaging and paper trading sector, is set to launch its SME IPO on the BSE SME platform. This IPO, entirely a fresh issue, opens on June 13, 2025, and closes on June 17, 2025. With a price band of ₹91 to ₹96 per share, investors are closely watching this public offer due to the company’s strong financial performance, aggressive growth plans, and strategic role in the paper supply chain.
In this article, we break down all the essential Aten Papers & Foam Limited IPO details, including the timeline, price band, financials, objectives, and whether this IPO is worth your money.
Aten Papers & Foam Limited IPO Details: Timeline & Key Dates
| Event | Date |
|---|---|
| IPO Opens | June 13, 2025 |
| IPO Closes | June 17, 2025 |
| Allotment Finalization | June 18, 2025 |
| Tentative Listing Date | June 20, 2025 |
| Listing Platform | BSE SME |
The IPO is managed by Swastika Investmart Ltd, with Skyline Financial Services Pvt Ltd as the registrar. Sunflower Broking Private Limited will act as the market maker for this issue.
IPO Structure: What You Need to Know
The Aten Papers & Foam Limited IPO is a book-building issue, with a total of 33,00,000 fresh equity shares. The IPO is expected to raise ₹31.68 crore at the upper end of the price band.
IPO Price Band & Lot Size
- Price Band: ₹91 – ₹96 per share
- Lot Size: 1,200 shares
- Minimum Investment (Retail): ₹1,15,200 at the upper price band
The face value of each equity share is ₹10.
Reservation Breakdown
| Category | Percentage Allocation |
|---|---|
| Qualified Institutional Buyers (QIBs) | 50% |
| Non-Institutional Investors (NIIs) | 15% |
| Retail Individual Investors (RIIs) | 35% |
The IPO is open to all investor categories, but with a relatively high minimum application amount, it’s primarily suited for high-net-worth individuals and institutional investors.
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About Aten Papers & Foam Limited
Incorporated in 2019 and based in Ahmedabad, Gujarat, Aten Papers & Foam Limited operates as a key intermediary in the paper supply chain. The company:
- Sources Kraft paper and duplex boards from mills
- Supplies to clients in the packaging industry
- Trades in wastepaper, which is sold to paper mills for recycling
End-use Sectors
- Grocery bag manufacturing
- Décor paper
- Packaging and tube manufacturing
Its role in the fast-growing packaging sector has positioned it for long-term relevance, especially as demand for sustainable and recyclable packaging continues to grow.
Financial Highlights: Impressive FY25 Performance
Aten Papers & Foam has posted strong financials, which support the optimism around its IPO.
| Metric | FY25 Value | Growth (YoY) |
|---|---|---|
| Revenue | ₹138.70 crore | 43% |
| Profit After Tax | ₹7.01 crore | 152% |
| Post-Issue Market Cap | ₹99 crore | — |
These figures reflect not only robust business operations but also smart cost and capital management.
Use of IPO Proceeds
The company aims to utilize the net proceeds from the IPO as follows:
- Capital Expenditure: ₹4.27 crore
- Working Capital Requirements: ₹15.50 crore
- General Corporate Purposes
This fund deployment plan suggests that Aten Papers & Foam is gearing up for capacity expansion, stronger operational liquidity, and business scaling.
Why Aten Papers & Foam IPO Stands Out
- Sector Growth
The packaging industry in India is seeing exponential growth driven by e-commerce, FMCG, and sustainability initiatives. - Solid Financial Track Record
Revenue and profit growth above 40% and 150%, respectively, in FY25 make a strong case for its scalability and profitability. - SME IPO Premium Listing
SME IPOs listed on the BSE SME platform have shown good traction recently, offering early investors strong upside potential — although with higher risk. - Entirely Fresh Issue
Since there is no offer-for-sale, the proceeds go directly into the company’s growth rather than to existing shareholders — a good sign for long-term potential.
Risks & Considerations
- High Entry Barrier for Retail Investors: Minimum application amount is over ₹1.15 lakh, which may deter average retail participation.
- SME IPO Volatility: SME stocks can be illiquid post-listing and are prone to higher price fluctuations.
- Industry Dependence: Business is reliant on the packaging sector; any slowdown here can impact revenue.
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Aten Papers & Foam IPO Details Summary Table
| Parameter | Details |
|---|---|
| IPO Dates | June 13–17, 2025 |
| Price Band | ₹91–₹96 per share |
| Issue Size | ₹31.68 crore (33 lakh shares) |
| Lot Size | 1,200 shares |
| Minimum Investment | ₹1,15,200 |
| Listing Platform | BSE SME |
| Allotment Date | June 18, 2025 |
| Listing Date | June 20, 2025 (Tentative) |
| FY25 Revenue | ₹138.70 crore |
| FY25 PAT | ₹7.01 crore |
| Lead Manager | Swastika Investmart Ltd |
| Registrar | Skyline Financial Services |
| Post-Issue Market Cap | ₹99 crore (Approx.) |
Final Verdict: Should You Apply?
The Aten Papers & Foam Limited IPO offers a compelling opportunity for investors with an appetite for SME stocks and exposure to the high-growth packaging sector. Backed by impressive financials, a strong industry position, and clear growth objectives, the IPO ticks many boxes.
However, due to the high minimum investment requirement and volatility of SME stocks, this offer is better suited for informed or institutional investors rather than conservative retail participants.
If you believe in the long-term outlook of India’s packaging industry and are comfortable with the risks associated with SME IPOs, Aten Papers & Foam Limited could be a valuable addition to your portfolio.