Nikita Papers Limited, a Gujarat-based paper manufacturing company known for its eco-friendly practices, made a weak debut on the NSE SME platform on June 3, 2025. The stock opened at ₹104, a 13.46% discount to its issue price, despite the IPO being subscribed 1.43 times. The company raised ₹67.54 crore for capital expenditure and working capital needs.
Nikita Papers Limited, a Gujarat-based paper manufacturer specializing in eco-friendly paper products for industrial and commercial use, made a subdued market debut on the NSE SME platform, listing at ₹104—13.46% lower than its IPO price.
The IPO, open between May 27 and May 29, 2025, was subscribed 1.43 times, signaling modest investor interest. The issue price was set at ₹104 per share with a minimum lot size of 1200 shares. Despite fair subscription, the grey market premium (GMP) prior to listing was ₹0, indicating lack of speculative interest.
Founded with a focus on sustainable production, Nikita Papers integrates recycled materials in its processes and maintains a wide domestic and international distribution network. The funds raised—₹67.54 crore through a fresh issue of 64,94,400 shares—will be used for setting up a power plant, working capital, and general corporate purposes.
The company faces competition from listed peers such as Magnum Ventures Ltd, Tamilnadu Newsprint and Papers Ltd, Ruchira Papers Ltd, and Pakka Ltd, with varying P/E ratios ranging from 6.48 to 76.41.
Fast Track Finsec Private Limited acted as the book-running lead manager, while Skyline Financial Services Private Limited served as the registrar.
Despite the weaker debut, analysts will be watching closely whether the stock can recover as the company executes its post-IPO growth plans.
