Paper Products Maker-Olympic Cards Files For Rs27Cr IPO
by Charmi Gutka
Chennai based paper/board based product manufacturer - Olympic Cards Limited has filed a DRHP to raise upto Rs27Cr.
The funds will be used for setting up a new manufacturing unit near Chennai and setting up 4 retail outlets of the company.
Ashika Capital Limited is the book running lead manager to the issue.
Olympic was incorporated in 1992 as Olympic Business Credits (Madras) Pvt Ltd. The name was changed to Olmpic Cards Ltd in 1998. The company manufactures Wedding Cards, Greeting Cards, Envelopes, Letter Heads, Business Cards, Calendars, Notebooks, Account Books,etc.
The company earns 49% of it's Rs38Cr revenue from wedding cards, while envelops and greeting cards contribute 11% and 8% respectively.
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