Paramount PrintPackaging IPO garners subscription of 3.92 times

The Initial Public Offering (IPO) of Paramount PrintPackaging Limited has received subscription of 3.92 times. The IPO has received total bids for 51266700 equity shares against the offer of 13094175 equity shares. The issue has received bids for 39757500 equity shares at cut-off price.

The company had come out with a Public issue of 1,30,94,175 Equity Shares Of Rs 10/- Each for cash at a price band of Rs.32 to Rs.35 through 100% book building process.

The Rating Agency ICRA had assigned IPO Grading of ICRA IPO GRADE 2.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.33 times with bids for 2155050 equity shares against the offer of 6547088 equity shares.

The Non Institutional Investors portion of the issue received bids for 6439050 equity shares against the offer of 1964126 equity shares resulting in a subscription of 3.28 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 9.31 times with bids for 42672600 equity shares against the offer of 4582961 equity shares.

The IPO opened for subscription on April 20, 2011 and closed for subscription on April 25, 2011.

Source : Equity Bulls

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