Subam Papers Opens at ₹142 on BSE SME, Down 6.58% in Disappointing Market Debut – Read More for Insights!Subam Papers Opens at ₹142 on BSE SME, Down 6.58% in Disappointing Market Debut – Read More for Insights!

Subam Papers had a disappointing stock market debut on Tuesday, with shares listed at ₹142.00 each on the BSE SME. This represents a 6.58% decline compared to the IPO price of ₹152 per share.

Subam Papers set its IPO price band at ₹144 to ₹152 per share, raising ₹93.70 crore by issuing 61.65 lakh fresh shares. The IPO was subscribed 92.93 times overall, with retail at 48.97 times, QIB at 57.18 times, and NII at 243.16 times.

Subam Papers, established in 2004, specializes in manufacturing Kraft paper and paper products, positioning itself as a packaging solution provider. Unlike traditional manufacturers, it utilizes waste paper instead of wood pulp, promoting recycling. To reduce environmental impact, Subam generates renewable energy from its wind and solar installations, including two 850 KW windmills and a 14 MW solar plant.

The objective of the Subam Papers IPO is to raise funds for expanding production capacity, enhancing operational efficiencies, and reducing debt. The company aims to strengthen its financial position and support growth initiatives in the paper manufacturing sector.