Paragon Fine And Speciality Chemicals IPO To Open Next Week: Know Date, GMP, Price Band Here

The initial public offering (IPO) of Paragon Fine and Speciality Chemicals will open for subscription on October 26. The 5-day Paragon Fine and Speciality Chemicals IPO will end on October 30, which will be the last day to place bids for the public issue. The price band of Paragon Fine and Speciality Chemicals IPO is Rs 95-100 per share. According to market observers, Paragon Fine and Specialty Chemical Ltd IPO latest GMP is Rs 55.

The IPO does not consist of an offer-for-sale (OFS) segment and consists of only a fresh issue component. Thus, the entire fresh issue proceeds, barring IPO expenses, will go to the company. The IPO is a book-built issue.

The company is looking to raise Rs 51.66 crore through the public issue of 51.66 lakh shares at the upper price band. Of the net issue proceeds, the company will utilize Rs 1 crore for civil construction work in the existing premises of the factory and Rs 7.87 crore for the installation of additional plant and machinery for expansion. Besides, Rs 12.90 crore will be used for debt repayment and the remaining funds will be used for working capital requirements and general corporate purposes.

Paragon Fine and Speciality Chemicals IPO Lot Size:

The net issue (excluding the market maker component) for the public stands at 4904400 shares, of which 50% of the portion is reserved for qualified institutional buyers (QIBs). The portion reserved for high-networth individuals (non-institutional investors) is 15%, while the remaining 35% quota is reserved for retail investors.

Investors can bid for a minimum of 1,200 equity shares in the offer, and in multiples of 1,200 shares thereafter. Given the investment limit of up to Rs 2 lakh, retail investors will be allowed to apply only for one lot of 1,200 shares worth Rs 1.2 lakh. The anchor book of the IPO will be opened one day ahead of the IPO launch i..e October 25.

Paragon Fine and Speciality Chemicals IPO Important Dates:

The IPO of Paragon Fine And Speciality Chemicals will open on October 26 and will close on October 30.
The company is expected to finalize the basis of allotment of IPO shares by November 2 and the equity shares will be credited to demat accounts of eligible investors by November 6.

The Paragon Fine And Speciality Chemicals shares are expected to commence trading on the NSE Emerge on November 7.

About the company:

Established in 2004, Paragon Fine and Specialty Chemical Ltd is a Ahmedabad-based company that specializes in the custom manufacturing of Specialty Intermediates, Cosmetics Intermediates, Pharma Intermediates, and Agro Intermediates. the diverse range of products offered by the company finds applications across various industries, including Pharma, Medical devices, Electronics, Paper, Leather, Plastics, and Polymers.

When it comes to the company's financial performance, the net profit surged 120.3% on-year to Rs 9.89 crore for the year ended March FY23, while revenue from operations grew 23.5% to Rs 102.3 crore.
The EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 118.5% YoY to Rs 12.83 crore.

Paragon Fine and Specialty Chemical Latest GMP:

According to market observers, Paragon Fine and Specialty Chemical Ltd IPO latest GMP is Rs 55. With the price band of 100.00, Paragon Fine And Speciality Chemicals SME IPO's estimated listing price is Rs 155 (cap price + today's GMP). The expected percentage gain/loss per share is 55.00%.