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Paramount Speciality Forgings IPO is a book built issue of Rs 32.34 crores. The issue is a combination of fresh issue of 48.02 lakh shares aggregating to Rs 28.33 crores and offer for sale of 6.8 lakh shares aggregating to Rs 4.01 crores.
Paramount Speciality Forgings IPO opens for subscription on September 17, 2024 and closes on September 19, 2024. The allotment for the Paramount Speciality Forgings IPO is expected to be finalized on Friday, September 20, 2024. Paramount Speciality Forgings IPO will list on NSE SME with tentative listing date fixed as Tuesday, September 24, 2024.
Paramount Speciality Forgings IPO price band is set at ₹57 to ₹59 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹118,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹236,000.
Swaraj shares and securities private limited is the book running lead manager of the Paramount Speciality Forgings IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Paramount Speciality Forgings IPO is Shreni Shares.
Refer to Paramount Speciality Forgings IPO RHP for detailed information.
| IPO Date | September 17, 2024 to September 19, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
| Share holding pre issue | 14,880,000 |
| Share holding post issue | 19,682,000 |
| Market Maker portion | 276,000 shares Shreni Shares |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
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 |
| 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 |
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 |
| HNI (Min) | 2 | 4,000 | ₹236,000 |
| Lot Size Calculator | |||
The Promoters of the company are Aliasgar Roshan Hararwala, Aliasgar Abdulla Bhagat, Mohammed Salim Hararwala, Abdulla Aliasgar Bhagat, Hoozefa Saleem Hararwala, Abbasali Salim Hararwala, Zahid Mohamadi Hararwala and Roshan Alihusain Hararwala.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 72.15% |
Incorporated in 1994, Paramount Speciality Forgings Limited is a manufacturer of steel forgings in India, offering a diverse range of forged products.
The company's products are manufactured to meet national and international standards and are used in various industrial applications including petrochemicals, chemicals, fertilizers, oil and gas, nuclear power, and heavy engineering sectors.
The company has two manufacturing facilities one in Kamothe and the second one in Khalapur, Maharashtra.
The company manufactures a range of forged products, which include Tube Sheet Blanks, Forged Rings, Spacers , Girth Flanges, Tyre Rings, Self-reinforced nozzles, Long weld neck flanges, Seat, Valve bodies, Bonnet etc.
The Company's closed dye plant is certified under ISO 9001-2008, ISO 14001-2004, and BS OHSAS 18001-2007, and is accredited by reputed Oil & Gas companies, Statutory Bodies, and Inspection Agencies.
Competitive strengths:
Paramount Speciality Forgings Limited's revenue increased by 1% and profit after tax (PAT) rose by 163% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | ||||||||||||||||||||||||||||||
The market capitalization of Paramount Speciality Forgings IPO is Rs 116.12 Cr.
KPI as of March 31, 2023.
| KPI | Values |
|---|---|
| ROE | 32% |
| ROCE | 40% |
| Debt/Equity | 1.09 |
| RoNW | 31.65% |
| PAT Margin (%) | 6.43 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.87 | 3.69 |
| P/E (x) | 12.1 | 16.01 |
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
Paramount Speciality Forgings Limited
3, 1, Guru Himmat Building,
Dr. Mascarenhas Road Anjirwadi
Mazgaon, Mumbai - 400010
Phone: +91-22-23732656
Email: compliance@paramountforge.org
Website: https://paramountforge.com/
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
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Paramount Speciality Forgings IPO is a SME IPO of 5,482,000 equity shares of the face value of ₹10 aggregating up to ₹32.34 Crores. The issue is priced at ₹57 to ₹59 per share. The minimum order quantity is 2000 Shares.
The IPO opens on September 17, 2024, and closes on September 19, 2024.
Purva Sharegistry India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Paramount Speciality Forgings IPO using UPI as a payment gateway. Zerodha customers can apply in Paramount Speciality Forgings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Paramount Speciality Forgings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Paramount Speciality Forgings IPO opens on September 17, 2024 and closes on September 19, 2024.
Paramount Speciality Forgings IPO lot size is 2000 Shares, and the minimum amount required is ₹118,000.
You can apply in Paramount Speciality Forgings IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Paramount Speciality Forgings IPO will be done on Friday, September 20, 2024, and the allotted shares will be credited to your demat account by Monday, September 23, 2024. Check the Paramount Speciality Forgings IPO allotment status.
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