What does Rainbow Papers Limited do?

Rainbow Papers Limited is an Ahmedabad-based paper and paper products manufacturer incorporated in 1986. It operates in the manufacturing of paper-related products, registered as a Public Limited company under CIN L21010GJ1986PLC008772.

When was Rainbow Papers Limited incorporated?

Rainbow Papers Limited was incorporated in 1986 and is registered with the Registrar of Companies, Ahmedabad, Gujarat under CIN L21010GJ1986PLC008772.

Is Rainbow Papers Limited planning an IPO?

No IPO plans are publicly known for Rainbow Papers Limited. It is currently classified as an unlisted public limited company.

How do I buy Rainbow Papers unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Rainbow Papers?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Rainbow Papers shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Rainbow Papers Unlisted Share Price | Buy Rainbow Papers Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Rainbow Papers Unlisted Share Price | Buy Rainbow Papers Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Rainbow Papers Limited is effectively defunct — resolved under IBC. CIRP commenced September 12, 2017; Kushal Tradelink acquired assets via NCLT Ahmedabad resolution plan (February 27, 2019); status: Converted to LLP. NSE RAINBOWPAP / BSE 523523; share price ₹0.15 (NSE). Was India's largest recycled paper mill (359,100 MT/year; revenue >₹500 Cr FY2015). CIN: L21010GJ1986PLC008772.

Pros

Once India's largest recycled paper mill — 359,100 MT/year installed capacity; 100% recycled waste paper; revenue >₹500 Cr (FY2015).
NSE (RAINBOWPAP) + BSE (523523) dual listed; landmark IBC Supreme Court case (State Tax Officer v. Rainbow Papers) on creditor priority.
Resolved through IBC — Kushal Tradelink acquired via approved resolution plan (NCLT Ahmedabad, Feb 27, 2019); business assets preserved.

Cons

CIRP commenced September 12, 2017; CIRP failed; assets acquired by Kushal Tradelink under resolution plan Feb 27, 2019 — original Rainbow Papers entity wound up/converted.
Revenue fell 99.44% from FY2015 to FY2018 — complete operational collapse prior to insolvency.
Status: Converted to LLP / effectively defunct as an independent entity post-resolution; shares at ₹0.15 (NSE) / ₹0.47 (BSE) — near-zero value.
Led to landmark Supreme Court case on government dues vs. secured creditors priority under IBC — significant legal precedent but reflects deep financial distress.

Business Segments

Recycled Paper Manufacturing

100% eco-friendly recycled waste paper manufacturing; 359,100 MT/year installed capacity; Gujarat; one of India's largest single-roof paper mills (historical peak).

Revenue Model

Revenue generated through manufacturing and sale of paper and related products to industrial buyers, packaging companies, and distributors.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds6

Growth Plans

Growing demand for sustainable packaging paper products in India as companies shift away from plastics

Government push for domestic paper manufacturing under Make in India

Industry Tailwinds

Growing demand for sustainable packaging paper products in India as companies shift away from plastics

Government push for domestic paper manufacturing under Make in India

Recent Developments

CIRP commenced

Corporate Insolvency Resolution Process initiated by creditor; Rainbow Papers enters insolvency under IBC 2016.

September 12, 2017

Resolution plan approved; Kushal Tradelink acquires

NCLT Ahmedabad approves Kushal Tradelink's resolution plan; Kushal Tradelink Limited (BSE 536170) completes acquisition of Rainbow Papers Limited (BSE 523523). Rainbow Papers converted to LLP.

February 27, 2019

Supreme Court landmark ruling

State Tax Officer v. Rainbow Papers Limited — Supreme Court held State's tax dues rank as secured creditor priority under IBC; landmark judgment on crown debt priority.

2022

Comparable Companies

CompanyTypeTickerMkt Cap

JK Paper LtdPE: ~8xxListedJKPAPER~4000 Cr

West Coast Paper Mills LtdPE: ~7xxListedWSTCSTPAPR~2500 Cr

JK Paper LtdListed

JKPAPER · ~4000 Cr

PE: ~8xx

West Coast Paper Mills LtdListed

WSTCSTPAPR · ~2500 Cr

Frequently Asked Questions

About Rainbow Papers

Rainbow Papers Limited is a Gujarat-based paper manufacturer incorporated on 4 July 1986. The company was engaged in manufacturing, marketing, and trading of a wide range of paper and paper products for industrial, packaging, and stationery purposes in India. Its product portfolio included writing and printing paper, coated paper, crepe paper, poster paper, cast coated paper, and duplex boards — covering both industrial and consumer-facing applications. At its peak, Rainbow Papers had operating revenues exceeding Rs. 500 crore (as reported for FY2015), making it a significant mid-sized player in the Indian paper industry. The company's authorized share capital was Rs. 40 crore with paid-up capital of Rs. 21.24 crore, indicating a substantial equity base for its era. The registered office is located at 801 Avdesh House, 8th Floor, Opp Guru Gobind Gurudwara, Gandhinagar-Sarkhej Highway, Thaltej, Ahmedabad — a prime commercial address in Gujarat's capital city. The Indian paper industry is one of the world's fastest-growing markets, driven by packaging demand from e-commerce and FMCG sectors, as well as educational publishing. However, the sector faces structural challenges including wood pulp import dependency, power-intensive manufacturing processes, and competition from global players. A significant development occurred when Rainbow Papers Limited was converted to a Limited Liability Partnership (LLP). The last Annual General Meeting was held on 28 September 2018, after which the company converted its legal structure. This conversion to LLP typically indicates promoters seeking to reduce compliance burden while retaining operational flexibility. Investors should note that post-LLP conversion, the company's shares as such ceased to exist in the traditional sense. The company had a three-decade history of paper manufacturing operations in Gujarat, serving domestic and export markets.

Key Milestones

Incorporated December 4, 1986 in Gujarat (CIN: L21010GJ1986PLC008772) — Ahmedabad

Common questions about unlisted shares

How do I buy Rainbow Papers unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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