Mumbai based Paramount Printpackaging Limited is entering into primary market with an Initial Public Offer (IPO) of 13,094,175 Equity Shares of Rs 10 each. The IPO is opening on 20th Apr 2011 and the shares will be available for subscription up to 25th Apr 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 32 – Rs. 35 Per Equity Share. The company is likely to raise around Rs 45.83 Crore through the issue at the upper level of price band. Paramount Printpackaging Paramount supplies different types of duplex board cartons to over 100 clients in various sectors like FMCG, pharma, electricals, auto ancillary and food.
The proceeds of the IPO are proposed to be utilized for setting up new facilities for manufacturing of high end duplex board cartons, shippers and printed corrugated box in Gujarat as well as augment the company”s long term working capital requirements. Currently, the company has the capacity to convert about 500 tons of paper board every month, which in terms of finished products works out to an average of 20 lakh cartons a day.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Issue Open : 20th Apr 2011 – 25th Apr 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 13,094,175 Equity Shares of Rs 10 each
Issue Size : Rs. 41.90 – 45.83 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 32 – Rs. 35 Per Equity Share
Minimum Bid Quantity : 150 Shares (Rs. 5250 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 5700 Shares (Rs. 199500 with 38 Lots ) @ upper level of price band
Listing At : BSE, NSE
The Sole Book Running Lead Manager (BRLM) to the offer is Onelife Capital Advisors Limited Mumbai.
Registrar of the Issue : Sharepro Services (India) Private Limited, Mumbai.
Company filed DRHP with SEBI in September 2010.
Stay tuned to BelltheBull Blog for more news on Paramount Printpackaging IPO !Google+