Astron Paper’s Rs.70 crore IPO opens on Friday- Free Trading Tips

Free Stock Tips, IPOAstron Paper and Board Mill Limited are looking forward to hit the capital markets by way of Initial Pubic Offering (IPO) of up to 1.40 crore equity shares of face value Rs. 10 each to raise up to Rs. 70.00 crore. The IPO got subscribed nearly 1% so far on the first day of the share sale on Friday. The IPO will close on Dec 20.After IPO, the holding of its four promoters will reduce to 46% from over 66%. The company will utilize Rs 23.00 crore from the IPO proceeds to enhance the capacity to 1,29,000 mtpa.The company’s revenue grew by 20.2 %t per annum between 2014 and 2017 fiscals to Rs 185 crore. The EBITDA doubled to Rs 21.7 crore during the period while EBITDA margin enhanced from 10.3% to 11.7%.Astron Paper and Board Mill is having Triple Wire Machine with a capacity of 350 MT on daily basis along with pulp mill capacity of 400 MT. The company is ISO and FSC certified. AsianGranito India-Limited being the corporate promoter of the company. The equity shares of Asian Granito are being listed at BSE & NSE as well, since year 2007.

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