Paramount Printpackaging receives SEBI nod for IPO

Paramount Printpackaging Limited, a company operates a fully automated plant at Navi Mumbai and capable of supplying different types of duplex board cartons, has received SEBI nod for its proposed IPO. Paramount Printpackaging Ltd caters to over 100 clients today. Company is catering to sectors like FMCG, Pharma, Electricals, Auto ancillary and Food. 

The Company at present has the capacity to convert approximately 500 tons of paper board every month, which in terms of finished products works out to an average of 20 lac cartons a day. 

The Company proposes to enter the capital markets with a public issue of 1,30,94,175 equity shares of Rs. 10 each through a book building process. The issue will constitute 49.04% of the fully diluted post issue paid-up capital of the Company. Onelife Capital Advisors Limited is the Book Running Lead Manager to the Issue and Sharepro Services (India) Pvt Ltd is the Registrar to the Issue. 

The Paramount Printpackaging proposes to deploy the net proceeds of the Issue for setting up new facilities for manufacturing of high end duplex board cartons, shippers and printed corrugated box in Gujarat as well as augment its long term working capital requirements.  

About Paramount Printpackaging Ltd: The Company is promoted by members of the Sukhadia family in 1941 through its facility at Dalal Street, Fort, Mumbai. They gradually shifted from stationery printing to packaging in 1982. Today the Company operates a fully automated plant at Navi Mumbai, capable of supplying different types of duplex board cartons that suit the needs of its customers. Its total income for the year ended March 31, 2010 was Rs 46.94 crore and PAT at Rs 1.65 crore as against total income of Rs 33.82 crore and a loss of Rs 1.52 lacs for the previous fiscal. 

The Company