Three M Paper Boards, a prominent player in the recycled paper-based product sector, has announced plans to boost its production capacity by 25% to meet increasing demand from both domestic and international markets. Currently, the company operates with an installed capacity of 72,000 tonnes annually.
“We intend to expand our capacity by 25% within the next two years, utilizing internal funds. Additionally, we are considering the possibility of establishing a new facility at a location closer to our primary consumer base,” said Rushabh H. Shah, Managing Director of Three M Paper Boards.
The Mumbai-based company, which has been producing recycled paper-based coated duplex board products for three decades, recently raised ₹40 crore through a public offering. The IPO, which was oversubscribed by more than 171 times, debuted at a 10% premium over its issue price.
The funds raised are earmarked for various purposes: ₹14 crore will be used for capital expenditure, including the expansion of the factory building to enhance storage capacity; ₹10 crore is allocated for working capital; and ₹7 crore will go towards debt repayment. The remaining funds are designated for general corporate needs.
Three M Paper Boards produces a range of coated duplex board products, varying from 200 to 500 GSM, used in packaging across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods. These products, made from 100% recycled wastepaper, are fully biodegradable, offering an eco-friendly packaging solution.
The company’s manufacturing facility in Chiplun, Maharashtra, spans 30 acres and includes a 4-MW captive power plant. With a robust network of over 25 dealers across India and export operations in more than 15 countries, Three M Paper Boards continues to maintain a strong market presence and industry influence.
