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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 bidding started from September 17, 2024 and ended on September 20, 2024. The allotment for Paramount Speciality Forgings IPO was finalized on Monday, September 23, 2024. The shares got listed on NSE SME on September 25, 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 20, 2024 |
| Listing Date | September 25, 2024 |
| 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 |
Paramount Speciality Forgings IPO offers 54,82,000 shares. 10,40,000 (18.97%) to QIB, 7,82,000 (14.26%) to NII, 18,24,000 (33.27%) to RII and 15,60,000 (28.46%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 15,60,000 (28.46%) |
| Market Maker Shares Offered | 2,76,000 (5.03%) |
| QIB Shares Offered | 10,40,000 (18.97%) |
| NII (HNI) Shares Offered | 7,82,000 (14.26%) |
| Retail Shares Offered | 18,24,000 (33.27%) |
| Total Shares Offered | 54,82,000 (100%) |
Paramount Speciality Forgings IPO raises Rs 9.20 crore from anchor investors. Paramount Speciality Forgings IPO Anchor bid date is September 16, 2024. Paramount Speciality Forgings IPO Anchor Investors list
| Bid Date | September 16, 2024 |
| Shares Offered | 1,560,000 |
| Anchor Portion Size (In Cr.) | 9.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 21, 2024 |
Paramount Speciality Forgings IPO opens on September 17, 2024, and closes on September 20, 2024.
| IPO Open Date | Tuesday, September 17, 2024 |
| IPO Close Date | Friday, September 20, 2024 |
| Basis of Allotment | Monday, September 23, 2024 |
| Initiation of Refunds | Tuesday, September 24, 2024 |
| Credit of Shares to Demat | Tuesday, September 24, 2024 |
| Listing Date | Wednesday, September 25, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 20, 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:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It posted steady growth in its top and bottom lines for the reported periods, however, the sudden boost in margins for FY2 raises eyebrows and concern over its sustainability. Based on FY24 earnings, the issue relatively appears fully priced. Well-informed investors may park moderate funds for long term. Read detail review...
The Paramount Speciality Forgings IPO is subscribed 73.88 times on September 20, 2024 6:19:59 PM. The public issue subscribed 41.35 times in the retail category, 20.88 times in the QIB category, and 220.24 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 20.88 |
| NII | 220.24 |
| Retail | 41.35 |
| Total | 73.88 |
Total Application : 37,714 (41.35 times)
| Listing Date | September 25, 2024 |
| BSE Script Code | |
| NSE Symbol | PSFL |
| ISIN | INE0Q6001012 |
| Final Issue Price | ₹59 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹59.00 |
| ₹83.00 |
| ₹83.00 |
| ₹87.15 |
| ₹87.15 |
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 20, 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 20, 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 Monday, September 23, 2024, and the allotted shares will be credited to your demat account by Tuesday, September 24, 2024. Check the Paramount Speciality Forgings IPO allotment status.
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