Incorporated in 2010, Astron Paper and Board Mills is engaged in manufacturing of kraft paper. The company has manufacturing facility in Gujarat.
December 28, 2017
All eyes will be on the listing of Astron Paper and Board Mill, after its blockbuster public issue. The INR 70-crore IPO of the kraft paper manufacturer was subscribed by over 243 times; the issue had received bids for 340.6-crore shares against the issue size of 1.4-crore shares.
Demand from retail investors was more than 77 times the issue size. Focus will also be on listed players such as Ballarpur Industries, BK Duplex, Aurangabad Paper Mills and Bio Green Papers.
Net proceeds of the share sale will be utilised for setting up an additional facility for manufacturing of Kraft Paper, part repayment of unsecured loan, funding working capital requirements and other general corporate purposes.
Incorporated in 2010, Astron Paper and Board Mill mainly caters to the packaging industry and has been able to develop a loyal clientele network consisting of various packaging companies and MNCs. Currently, it operates in domestic markets with their products being supplied pan-India. It is also in the process of exploring export markets.