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Nikita Papers IPO
Nikita Papers Ltd
₹1,14,000 /1200 sharesMinimum Investment
Nikita Papers IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹104.00 | ₹90.00 | -₹14.00 (13.46%) |
Nikita Papers IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 27 May ‘25 - 29 May ‘25 | ₹1,14,000 | 1,200 | ₹95 - ₹104 |
| Issue Size | IPO Doc |
|---|---|
| 67.54Cr | RHP PDF |
Subscription rate
As of 29 May'25, 04:00 PM
| Qualified Institutional Buyers | 1.25x |
| Non-Institutional Investor | 2.29x |
| Retail Individual Investor | 1.59x |
| Total | 1.26x |
About Nikita Papers
Founded in
1989
Managing director
Mr. Ashok Kumar Bansal
Parent organisation
Nikita Papers Ltd
Strengths & Financials of Nikita Papers
Strengths
Risks
Nikita Papers claims to have expanded its product range by adding a fluting media multi-liner kraft paper project for corrugated packaging. The company has also commissioned a second paper machine (PM-2) with a capacity of 250 tonnes per day.
The company operates out of an industrial estate, Panipat road, Shamli (U.P.), a location that is well-connected to transport networks and essential infrastructure.
The company claims to serve a wide customer base, including multinational corporations, regional brands, and packaging manufacturers.
The company claims to have built strong relationships with raw material suppliers, distributors and industry stakeholders.
The company claims that the ongoing shift away from plastic packaging has led to a growing demand for eco-friendly alternatives like paper packaging, which may present a market opportunity for its products.
The company has seen a consistent increase in profit after tax (PAT). It increased from Rs 6.95 crore in FY22 to Rs 8.64 crore in FY23 to Rs 16.59 crore in FY24.
A significant portion of the company’s revenue comes from its top 10 customers. As of December 31, 2024, they contributed Rs 223.11 crore (84.16 percent) to the company’s total revenue, Rs 241.30 crore (71.27 percent) in FY24, Rs 260.17 crore (65.30 percent) in FY23, and Rs 256.16 crore (71.89 percent) in FY22. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients could adversely affect the company’s business and financial standing.
The company recorded negative cash flows from operating activities amounting to Rs 5.99 crore, Rs 12.57 crore, and Rs 13.02 crore as of the period ended December 31, 2024, FY24 and FY23, respectively. It also recorded negative cash flows from investing activities amounting to Rs 1.94 crore, Rs 2.56 crore, Rs 14.30 crore and Rs 11.18 crore as of the period ended December 31, 2024, FY24, FY23, and FY22, respectively. It also recorded negative cash flows from financing activities amounting to Rs 15.76 crore in FY22. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
The company has been witnessing a declining inventory turnover ratio of 5.79% in the period ending December 2024, 9.08% in FY24, 9.58% in FY23, and 10.29% in FY22. This indicates that the company is selling its inventory more slowly, which could result in rising inventory costs, reduced profit margins, and a negative impact on cash flow.
As of December 31, 2024, FY24, FY23, and FY22, the company’s installed production capacity was utilised at 62 percent, 90 percent, 83 percent and 73 percent, respectively. If the company is unable to enhance capacity on time, it may miss emerging demand opportunities in the paper market.
A significant portion of the company’s revenue comes from Delhi and Uttar Pradesh. Together, they accounted for Rs 250.00 crore (94.29 percent) of the company’s total revenue as of December 31, 2024, Rs 309.52 crore (91.41 percent) in FY24, Rs 322.74 crore (81.02 percent) in FY23 and Rs 264.41 crore (74.18 percent) in FY22. This heavy regional dependency increases the company’s exposure to local economic downturns, regulatory changes, or logistics disruptions in these markets.
A significant portion of the company’s purchases of raw materials comes from its top 10 suppliers. They accounted for Rs 152.55 crore (85.24 percent) of the company’s total purchases in the period ended December 31, 2024, Rs 145.44 crore (67.75 percent) in FY24, Rs 151.43 crore (54.18 percent) in FY23, and Rs 106.65 crore (44.19 percent) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
A significant portion of the company’s revenue comes from kraft paper. It accounted for Rs 252.94 crore (95.40 percent) of the company’s total revenue during the period ended December 31, 2024, Rs 320.75 crore (94.73 percent) in FY24, Rs 383.37 crore (96.25 percent) in FY23, and Rs 344.01 crore (96.52 percent) in FY22. Any decline in demand, regulatory change, or supply disruption related to this product could severely impact revenue and profitability.
As of December 31, 2024, Nikita Papers had an outstanding financial indebtedness of Rs 158.85 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Nikita Papers Financials
*All values are in Rs. Cr
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Application Details of Nikita Papers IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹95 - 104 | ₹2 - 5 Lakh |
| High Networth Individual | ₹95 - 104 | ₹2 - 5 Lakh |
For Nikita Papers IPO, eligible investors can apply as Regular.