Abril Paper Tech sets IPO price at Rs 61/share; Rs 13.42-cr offer to open on Friday

New Delhi, Aug 28 (PTI) Abril Paper Tech, manufacturer and supplier of sublimation heat transfer paper, on Thursday said it has fixed the price at Rs 61 per share for its Rs 13.42-crore initial public offering (IPO), which will open for subscription on August 29.

The public issue will conclude on September 2, and the shares of the company will be listed on the BSE's SME platform, Surat-based Abril Paper Tech said in a statement.

The IPO is entirely a fresh issue of 22 lakh equity shares with a face value of Rs 10 each. At the upper end of the price set for IPO, the company is going to fetch Rs 13.42 crore.

Proceeds from the fresh issue to the tune of Rs 5.40 crore will be utilised towards additional two fully automatic sublimation paper coating and slitting machines, Rs 5 crore will be used to meet working capital requirements and Rs 2.01 crore will be used for general corporate purposes.

Also, proceeds from the IPO worth Rs 1.01 crore will be used towards public issue expenses.

Abril Paper Tech Ltd (APTL) is engaged in the manufacturing and marketing of sublimation paper rolls and related products. The company caters to diverse applications in printing, garments, textiles, hosiery, curtains, and furniture industries.

Abril operates a manufacturing and warehousing facility in Surat with an installed capacity of 600 lakh meters per annum, the company said.

"We have built a strong foundation in the sublimation and heat transfer paper industry, and the fresh funds will enable us to expand capacity, upgrade technology, and strengthen our market presence," Prince Lathiya, Non-Executive Director, Abril Paper Tech Ltd, said.

The company reported revenue from operations of Rs 60.91 crore and profit after tax of Rs 1.41 crore in FY25.

Interactive Financial Services is the sole book-running lead manager for the IPO. PTI HG TRB