The initial public offer (IPO) of Paramount Printpackaging Limited is opening for subscription on April 20 and will close April 25, 2011. The company, which is offering 1,30,94,175 equity shares of Rs 10 each has fixed the price band at Rs 32 to Rs 35 per equity share of Rs 10 each.
The company plans to use the net proceeds of the issue for setting up new facilities for manufacturing of high end duplex board, cartons, shippers and printed corrugated boxes at Gujarat near Vapi and the project is expected to be completed by the third quarter of this financial year.Paramount Ltd offers packing solution for many brands from a diverse brand portfolio like the FMCG, auto ancillary units, pharmaceuticals, tobacco, food & beverage industries.
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