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Paramount Printpackaging IPO subscribed 4 times
Paramount Printpackaging's public issue has received good response from investors - mainly non-institutional and retail investors. The issue, which closed today, has subscribed 3.92 times, as per data available on National Stock Exchange.
Paramount Printpackaging's public issue has received good response from investors - mainly non-institutional and retail investors. The issue, which closed today, has subscribed 3.92 times, as per data available on National Stock Exchange.
It has received bids for 5.13 crore equity shares as against issue size of 1.3 crore shares. Reserved portion of retail investors subscribed 9.31 times, with receiving bids for 4.27 crore shares as against issue size of 45.83 lakh shares.
Non-institutional investors' portion subscribed about 3.28 times, with getting bids for 64.39 lakh shares as against size of 19.64 lakh shares.
The company aims to raise Rs 45.83 crore through the issue at higher end of price band of Rs 32-35 per share.
Issue proceeds are proposed to be utilised for setting up a new facility for manufacturing high-end duplex board cartons, shippers and printed corrugated box at Gujarat, and for long-term working capital. The company which now supplies folding-box carton packaging material, has gradually moved from being a stationery printer.
