Paramount Printpackaging Limited had launched its IPO for 1,30,94,175 shares in a price band of Rs 32-35 was subscribed. The issue had opened on Wednesday the 20^th of April and closed today. The company would be raising Rs 41.90 crs at the lower end of the price band and Rs 45.83 crs at the top end of the band. The issue received excellent response from retail investors who these days seem to know much more than the QIB bidders. Incidentally the QIB portion remained undersubscribed with a mere 33% of the quota being subscribed.

The details of the subscription level in various categories are given below: –

One more issue where fundamentals do not support the asking price has come and gone. Retail investors expecting a quick buck on listing day have applied to the issue in extremely large numbers and have put in bids for 83.23% of the total bids. Their expectation is a few quick bucks on listing day and they are prepared to lose a fortune for these petty gains which may or may not happen. The temptation to make a quick buck will never change and as long as temptation is there innocent investors will always get caught and will suffer.