ICRA assigns grade 2 to Paramount Printpackaging IPO

ICRA has assigned grade 2, indicating below average fundamentals, to the proposed initial public offering (IPO) of Paramount Printpackaging (PPL), in its report dated March 7.

PPL is in the business of manufacturing folding box cartons and has its plant located at New Mumbai. PPL currently has the capacity to convert approximately 400 tons of paper board every month. In terms of finished products, the company has the capacity to produce 20 lakh cartons a day, i.e. 60 crore cartons annually.

The report says, "The assigned grading takes into account the long track record of the promoters in the packaging industry; improvement in customer base with addition of established FMCG and pharma companies in recent years and positive demand outlook for the company

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