Abril Paper Tech, a leading manufacturer and supplier of sublimation heat transfer paper, plans to raise ₹13 crore through initial public offering on BSE SME exchange.
The company will issue fresh equity share of 22 lakh at fixed price of ₹61 per share. The lot size is 2,000 and retail investors have to bid for minimum 2 lots (4,000 shares) amounting to investment of ₹2.44 lakh.
The company will use ₹5 crore to set up additional two fully automatic sublimation paper coating and slitting machines, ₹5 crore for meeting working capital requirements and remaining ₹3 crore will be used for general corporate purposes and IPO expenses.
Interactive Financial Services is the lead manager to the issue.
Currently, Abril operates a manufacturing and warehousing facility in Surat with an installed capacity of 600 lakh meters per annum. Post-expansion, the capacity will increase to 1,450 lakh meters per annum, equipped with advanced technology for high-quality sublimation papers designed for digital printing solutions.
The company caters to diverse applications in printing, garments, textiles, hosiery, curtains and furniture industries. Further, Abril is planning forward integration by setting up facilities for manufacturing heat transfer paper, specialised frames and PP sheets, with a strong focus on export markets.
It has presence across 17 states, Abril plans to strengthen its B2C footprint through online and dealer networks, capitalising on high-margin opportunities in design printing for cakes, FMCG packaging and readymade garments.
Prince Lathiya, Non-Executive Director, Abril Paper Tech said the fresh funds to be raised will enable the company to expand capacity, upgrade technology and strengthen market presence.