Paramount Speciality Forgings Limited IPO
Paramount Speciality Forgings Limited IPO opens on September 17, 2024, and closes on September 19, 2024. The allotment for the Paramount Speciality Forgings IPO is anticipated to be completed on Friday, September 20, 2024. The IPO will be tentatively listed on the NSE and SME on Tuesday, September 24, 2024.
Paramount Speciality Forgings IPO’s price band is Rs 57 to Rs 59 per share. The IPO is a book-built issue of Rs 32.34 crores. The Issue combines a fresh issue of 48.02 lakh shares aggregating to Rs 28.33 crores and an offer for sale of 6.8 lakh shares aggregating to Rs 4.01 crores.
Paramount Speciality Forgings IPO Details
| IPO Date | September 17, 2024 to September 19, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹57 to ₹59 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,482,000 shares (aggregating up to ₹32.34 Cr) |
| Fresh Issue | 4,802,000 shares (aggregating up to ₹28.33 Cr) |
| Offer for Sale | 680,000 shares of ₹10 (aggregating up to ₹4.01 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 14,880,000 |
| Shareholding post-issue | 19,682,000 |
| Market Maker portion | 276,000 shares |
Paramount Speciality Forgings IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹118,000 |
| Retail (Max) | 1 | 2000 | ₹118,000 |
| S-HNI (Min) | 2 | 4000 | ₹236,000 |
Paramount Speciality Forgings IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Capital expenditure through the purchase of machinery and equipment required for expansion at the Khopoli Plant;
- General Corporate purposes
About Paramount Speciality Forgings Limited
Paramount Speciality Forgings Limited, established in 1994, is a leading steel forgings manufacturer in India with facilities in Kamothe and Khalapur, Maharashtra. We produce various forged products, including Tube Sheet Blanks, Forged Rings, and Valve Bodies, adhering to national and international standards for diverse industries like petrochemicals and nuclear power. Our closed die plant holds certifications for quality and environmental management (ISO 9001-2008, ISO 14001-2004) and is accredited by key Oil & Gas companies. Our competitive edge lies in our experienced management, commitment to quality through automation and process optimization, strong customer relationships, and robust digital marketing strategies.
Paramount Speciality Forgings Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 8,179.18 | 7,223.87 | 5,450.48 |
| Revenue | 11,363.62 | 11,224.1 | 9,243.16 |
| Profit After Tax | 725.36 | 275.84 | 313.44 |
| Net Worth | 2,291.49 | 1,566.14 | 1,970.49 |
| Reserves and Surplus | 803.49 | 1,565.14 | 1,969.49 |
| Total Borrowing | 2,492.82 | 2,027.65 | 1,176.93 |
| Amount in ₹ Lakhs |
Paramount Speciality Forgings IPO Reservation
| Investor Category | Shares Offered |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Paramount Speciality Forgings IPO Timeline
Paramount Speciality Forgings IPO opens on September 17, 2024, and closes on September 19, 2024.
| IPO Open Date | Tuesday, September 17, 2024 |
| IPO Close Date | Thursday, September 19, 2024 |
| Basis of Allotment | Friday, September 20, 2024 |
| Initiation of Refunds | Monday, September 23, 2024 |
| A credit of Shares to Demat | Monday, September 23, 2024 |
| Listing Date | Tuesday, September 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 19, 2024 |
