A Promising Entry into India’s Capital Market
Aten Papers and Foam Ltd IPO– India’s IPO market continues to stay vibrant in 2025, with a series of public offerings aiming to capitalize on the investor appetite for new growth stories. Among the upcoming IPOs this week, Aten Papers and Foam Ltd IPO has emerged as a major highlight, drawing attention from institutional and retail investors alike. Aten Papers and Foam Ltd, a company involved in paper and foam manufacturing, is making its public debut with a Mainline IPO. The offering is a Public Issue (Book Building) of ₹430.83 crores, consisting entirely of a fresh issue of 4.49 crore equity shares. This IPO is an important opportunity for investors looking to diversify into a sustainable and steadily growing manufacturing segment. As part of this blog, we will delve into all the critical aspects such as subscription details, price band, investment requirements, listing date, company background, and more.
Overview of Aten Papers and Foam Ltd IPO
Let’s start by looking at the key details of the Aten Papers and Foam Ltd IPO:
Aten Papers and Foam Ltd IPO Details
Particulars | Details |
IPO Opening Date | March 28, 2025 |
IPO Closing Date | April 2, 2025 |
Issue Type | Book Building Public Issue |
IPO Size | ₹430.83 Crores |
Price Band | ₹91 to ₹96 per share |
Face Value | ₹10 per share |
Minimum Lot Size | 1,200 shares |
Minimum Investment (Retail) | ₹115,200 |
Listing Exchange | BSE |
Tentative Listing Date | April 7, 2025 |
Fresh Issue Size | 44,878,400 equity shares |
About Aten Papers and Foam Ltd
Aten Papers and Foam Ltd is a mid-size player in the manufacturing sector, focusing on environmentally sustainable paper products and versatile foam solutions used across industries like packaging, construction, automotive, and furniture. The company’s diversified portfolio, efficient supply chain, and cost-effective production methods are expected to fuel its growth trajectory in the coming years. As sustainability continues to be a growing theme in manufacturing, Aten’s strong emphasis on eco-friendly practices and recyclable product lines places it in a favorable position to benefit from both global and domestic demand.
Important IPO Dates and Timeline
The following table provides a timeline of key events related to the Aten Papers and Foam Ltd IPO:
IPO Timeline
Event | Date |
IPO Open Date | March 28, 2025 |
IPO Close Date | April 2, 2025 |
Basis of Allotment | April 3, 2025 |
Initiation of Refunds | April 4, 2025 |
Credit of Shares to Demat | April 4, 2025 |
Listing Date (BSE) | April 7, 2025 |
IPO Subscription Status (As of June 13, 2025)
While the IPO has officially closed on April 2, 2025, recent subscription data provides insights into how different investor categories responded to the offer. The overall subscription was 0.66 times as of the last reported update.
Day-wise Subscription Status
Category | Subscription (13-Jun-2025) |
Qualified Institutional Buyers (QIB) | 1.02x |
Retail Individual Investors (RII) | 0.93x |
Non-Institutional Investors (NII) | 0.37x |
Others | 0x |
Total | 0.66x |
While the IPO did not see overwhelming demand, it still managed a decent subscription level among QIBs, indicating institutional confidence in the business fundamentals.
Reservation Details in Aten Papers and Foam Ltd IPO
IPO Share Reservation by Investor Category
Category | Shares Reserved | % of Total Shares Offered |
Anchor Investors | 9,39,600 | 16.75% |
Qualified Institutional Buyers (QIB) | 6,26,400 | 11.17% |
Non-Institutional Investors (NII) | 4,70,400 | 8.39% |
Retail Individual Investors (RII) | 1,09,000 | 1.94% |
Others | 34,64,400 | 61.75% |
Total | 56,09,800 | 100% |
Financial Snapshot of Aten Papers and Foam Ltd
While official financial documents and DRHP (Draft Red Herring Prospectus) have not revealed all the metrics in public domain, it is understood that Aten has shown consistent year-on-year growth in revenue, alongside maintaining positive EBITDA margins. The company is expected to use IPO proceeds for working capital, plant expansion, and partial debt repayment.
More detailed financials will become available after final listing disclosures.
Reasons to Consider Investing in Aten Papers and Foam Ltd IPO
1. Expanding Industry Demand
The Indian packaging and foam industries are witnessing exponential growth, driven by sectors like e-commerce, real estate, furniture, and automobiles. Aten Papers and Foam Ltd is poised to benefit directly from this surge.
2. Sustainability Focus
With increasing global focus on ESG (Environmental, Social, Governance) practices, companies like Aten that produce biodegradable, recyclable paper products are likely to attract premium valuations in future.
3. Strong Manufacturing Base
The company has an integrated and scalable production model with modern infrastructure, which may result in better margins over time.
4. Reasonable Valuation
Considering the price band of ₹91–₹96, the IPO seems reasonably valued for a mid-cap manufacturing player with high growth potential.
Risks and Concerns for Investors
Despite the upside potential, investors should consider certain risks before subscribing:
- Subscription Levels: The IPO has received moderate response, particularly from retail and non-institutional investors, which may impact post-listing performance.
- Sector Volatility: The foam and paper manufacturing industries are cyclical in nature and sensitive to raw material price fluctuations.
- Limited Public Information: As of now, detailed financials and business breakdowns are not widely available.
Listing Expectations and Outlook
The Aten Papers & Foam Limited IPO listing date is tentatively set for Monday, April 7, 2025, on the BSE. Given the mixed subscription data, analysts anticipate a flat to modest debut on listing day. However, long-term investors may still consider holding based on industry trends and the company’s growth roadmap.
Should You Invest in Aten Papers and Foam Ltd IPO?
The Aten Papers and Foam Ltd IPO is a substantial offering amid the upcoming IPOs in India this week and provides investors with an opportunity to invest in a growing segment aligned with sustainability and industrial demand. For investors with a long-term view, Aten’s diversified operations, environmental orientation, and robust product mix offer promise. However, caution is advised due to the relatively muted subscription status and limited available financial information. If you are a retail investor with a moderate risk appetite and believe in the manufacturing and packaging growth story in India, this IPO could be a worthwhile addition to your portfolio.
Frequently Asked Questions (FAQs)
Q1. What is the IPO size of Aten Papers and Foam Ltd?
The IPO size is ₹430.83 crores through a fresh issue of 4.49 crore shares.
Q2. What is the price band and lot size for Aten IPO?
The price band is ₹91 to ₹96 per share. The lot size is 1,200 shares, requiring a minimum investment of ₹115,200.
Q3. When will Aten Papers and Foam Ltd IPO list?
The expected listing date is April 7, 2025 on BSE.
Q4. How was the subscription response to the IPO?
As of June 13, 2025, the IPO was subscribed 0.66x overall, with QIBs contributing the highest at 1.02x.
Q5. Is Aten Papers and Foam Ltd a good company to invest in?
The company operates in a promising sector and focuses on sustainable products. However, investors should evaluate the risks associated with subscription and post-listing volatility.
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