Incorporated in 2010, Astron Paper and Board Mill Limited is engaged in manufacturing of kraft paper. Within a short span of time, the Company has developed a name for itself in kraft paper industry and has been able to establish a brand associated with qualitative and comprehensive range of kraft papers. The Company mainly caters to the packaging industry and has been able to develop a loyal clientele network consisting of various packaging companies and MNCs.
Yash Ved of Newsbarons provides you the highlights of a media interaction where Kirit Patel, CMD of Astron Paper and Board Mill Limited says, “We will be setting up additional manufacturing facility which will expand product range.”
NB: Brief us about your IPO plans?
Kirit Patel: We are raising INR 70 crore via IPO. The Issue opens on December 15, 2017 and closes on December 20, 2017 with a price band of INR 45 to INR 50 per Equity Share of face value of INR 10 each.
The IPO comprises of an offering up to 1,40,00,000 equity shares of face value of INR 10 each of the Company. The issue also comprises of reservation of upto 7,00,000 equity shares for subscription by Eligible Employees.
Pantomath Capital Advisors Private Limited is the Book Running Lead Manager (BRLM) to the Issue. The Registrar to the Issue is Link Intime India Private Limited.
The Equity Shares of Astron Paper and Board Mill Limited are proposed to be listed on the NSE and BSE.
NB: What are the objects of the issue?
Kirit: The Company proposes to utilize the Net Proceeds towards Setting up of additional facility for manufacturing of Kraft Paper with lower GSM ranging from 80 to 180 GSM and lower B.F ranging from 12 B.F to 20 B.F., part repayment of unsecured loan, funding the working capital requirements of the Company and general corporate purposes.
NB: Brief us about your manufacturing facilities?
Kirit: The Company has a manufacturing facility in Gujarat with an installed capacity of 96,000 mt p.a. The Company’s manufacturing facility is situated at Halvad, Gujarat and is well equipped with requisite plant and machineries and other facilities.
NB: What are your expansion plans?
Kirit: We will be setting up additional manufacturing facility which will expand product range. We will also expand our geographical reach and will continue to improve operating efficiencies through technology enhancement.
NB: Brief us about your Financials?
Kirit: For FY2016-17, the total revenue stood at INR 1845.89mn, while EBITDA was at INR 230.06mn. The net profit for the fiscal was at 99.59mn and ROI was at 21.98%.