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Paramount Printpackaging is entering the capital market with a public issue of 1,30,94,175 equity shares of Rs 10 each on April 20. The issue will constitute 49.04% of the fully-diluted post issue paid up capital of the company.
The price band for the issue, which closes on April 25, has been fixed at Rs 32-35 per equity share. The company aims to raise Rs 45.83 crore through the issue at higher end of price band.
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.Onelife Capital Advisors Private Limited is the book running lead manager to the issue. Currently promoters from Sukhadia family hold more than 92% stake in the company.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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