Mumbai based Paramount Printpackaging has informed the share market (BSE/NSE) that they have received clearance from market regulator SEBI to enter the capital markets with its initial public offer (IPO) of 13,094,175 equity shares of Rs 10 each through 100 per cent book building process, to part finance its expansion plans. Paramount Printpackaging 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 issue would be used 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).
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.
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