Utkal Speciality Industries India Ltd IPO

Utkal Speciality Industries India Limited is engaged in the manufacturing of paper-based products and packaging materials. Its product portfolio includes paper plates, paper cups, paper glasses, paper bowls, tissue papers, pizza and sweets boxes, and wrap papers used across food service and packaging applications. The company also generates a small portion of its revenue from trading activities, including polyethylene and corrugated boxes, and undertakes contract manufacturing services for select customers involving extrusion coating of paper supplied by clients. The company serves both business-to-business (B2B) and business-to-consumer (B2C) customers, including manufacturers, retailers, cloud kitchens, and other businesses. It operates across 15 states in India, with a significant presence in Odisha and West Bengal. While the company previously exported products to countries such as Iraq and Algeria, it currently focuses on the domestic market. Its operations are primarily centered on supplying paper-based products and packaging solutions to a diverse customer base. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding incremental working capital requirements of the company — Rs 5.31 crore Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company — Rs 11 crore Funding capital expenditure requirements towards purchase of machinery for the new manufacturing facility at Khurda, Odisha — Rs 9.60 crore General corporate purposes To meet the offer-related expenses;