The Abril Paper Tech Limited IPO is set to open for subscription, offering investors a chance to invest in one of India’s leading manufacturers and suppliers of sublimation heat transfer paper. The company is recognised for delivering high-quality papers ranging from 30 GSM to 90 GSM, widely used in the digital printing industry including Home & Furnishing, Fashion Apparel, Gym/Sports Wear, T-Shirts, Garments Printing, Saree Printing, Night Wear, Swim Suites, Hard Substances, Soft Signage, and various other textile sectors.

IPO Details and Timeline

The Abril Paper Tech IPO is a Fixed Price Issue with a total size of ₹13.42 crore, entirely through a fresh issue of 22 lakh shares. The IPO subscription window opens on August 29, 2025, and closes on September 2, 2025. The allotment is expected on September 3, 2025, with tentative listing on BSE SME on September 5, 2025.

Price, Lot Size, and Investment Requirement

The IPO is priced at ₹61 per equity share, with a market capitalization of ₹48.69 crore at the issue price. The lot size is set at 2,000 shares, and individual investors must apply for a minimum of 2 lots (4,000 shares), amounting to ₹2,44,000. This investment requirement ensures participation from serious investors and aligns with SME IPO norms.

Lead Manager, Registrar, and Market Maker

The IPO is managed by INTERACTIVE FINANCIAL SERVICES LIMITED as the Book Running Lead Manager, with KFIN TECHNOLOGIES LIMITED serving as the registrar. B. N. Rathi Securities Limited acts as the sole Market Maker, ensuring market stability post-listing.

Grey Market Premium and Listing Prospects

The Grey Market Premium (GMP) for Abril Paper Tech is currently reported as ₹0, indicating no anticipated listing gains. Investors are advised that GMP is speculative and unofficial, depending on unregulated demand and supply. Investment decisions should be based on fundamental analysis and company performance rather than grey market speculation.

Company Overview

Abril Paper Tech Ltd. is recognized for its exceptional quality heat transfer paper and innovative product solutions catering to a wide range of digital printing needs. Their products are in demand across textile industries, offering superior performance in sublimation printing on garments, home textiles, and fashion apparel.

Promoters and Leadership

The company is led by experienced management:

• Mr. Vipul Dobariya, Promoter and Managing Director, with 6 years of experience in manufacturing operations, procurement, and strategic direction.

• Mr. Ashvinbhai Lathiya, Whole-Time Director, overseeing distribution, marketing, and sales, with 6 years of experience.

• Mr. Prince Lathiya, Non-Executive Director, providing guidance on business expansion, market penetration, and brand building, with 3 years of experience.

Their combined expertise ensures operational efficiency, market growth, and strategic execution.

Financial Performance

The financial performance indicates strong growth:

• Revenue from operations:

  • FY25: ₹6,091.45 lakh

  • FY24: ₹682.61 lakh

• EBITDA:

  • FY25: ₹201.06 lakh

  • FY24: ₹61.41 lakh

• Profit After Tax (PAT):

  • FY25: ₹141.29 lakh

  • FY24: ₹42.78 lakh

These figures highlight significant year-on-year growth, demonstrating the company’s expanding presence and operational efficiency.

Key Ratios and Valuation

• Pre-issue EPS: ₹2.48

• Post-issue EPS: ₹1.77

• Pre-issue P/E ratio: 24.59x

• Post-issue P/E ratio: 34.46x

• ROCE (FY24): 16.38%

• ROE (FY24): 18.03%

• RoNW (FY24): 13.43%

These metrics suggest the IPO is fairly priced, though the high post-issue P/E indicates limited short-term listing gains.

Objectives of the IPO

The IPO proceeds are proposed to be used for:

1. ₹540 lakh for capital expenditure, primarily for the purchase of new machinery to expand production capacity.

2. ₹500 lakh for working capital requirements, supporting smooth operational liquidity.

3. ₹201 lakh for general corporate purposes, enabling strategic growth initiatives and financial flexibility.

Allotment Process for Investors

Investors can check the allotment status on the registrar’s website:

• Select Abril Paper Tech Limited IPO from the dropdown menu.

• Enter Application Number, PAN, or DP Client ID.

• Submit the details to view allotment status.

This ensures investors can confirm their investment quickly and plan for listing day accordingly.

Expert Review and Recommendation

Despite robust financial performance and experienced management, the IPO shows no expected listing gains, with a GMP of 0. Experts recommend that investors avoid applying for short-term gains, and consider the IPO only for those seeking long-term exposure in the growing sublimation paper industry.

The Upcoming IPOs in this week and coming weeks are Amanta Healthcare, Rachit Paints, Abril Paper Tech, Sneha Organics, Sugs Lloyd, Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering.

The Current active IPO are Shivashrit Foods, Anondita Medicare, Classic Electrodes (India), ARC Insulation & Insulators.

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