Paragon Fine And Speciality Chemicals Limited IPO Detail
Incorporated in 2004, the company is involved in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry. The company manufactures Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates and Dye Intermediates for a diverse Indian and Global customer base.
The company's manufacturing unit is located in Viramgam District, Ahmedabad, Gujarat covering approximately 7000 square meters of area, equipped with high-end reactors to carry out research for developing new products.
The company's R&D team has successfully carried out the multi-step synthesis and developed multiple new molecules in the area of specialty intermediates and as a result, enhanced their product portfolio to around 140 products in Fiscal 2023. As of March 31, 2023, we have a team of 14 technocrats who are engaged in Research and development.
The company's competitive strengths are as follows:
- Wide range of customizable products
- Focus on R&D to leverage complex chemistry and technology
- Long-term relationships with customers across different nationalities.
- In-house manufacturing unit with equipped technologies and processes.
- The Promoters and Senior Management of the company are highly experienced with substantial domain knowledge.
Company Promoters
Dr. Pravinchandra Jasmat Vasolia, Kishorkumar Panchabhai Patolia, Vallabh Ratanji Savaliya, Rutesh Vallabhbhai Savalia and Shivam Kishorbhai Patolia.IPO Details
| IPO Opening Date | Oct 26, 2023 |
| IPO Closing Date | Oct 30, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹95 - 100 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹51.66 Cr |
| Fresh Issue | ₹51.66 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 2.71x | - | - | 14.08x | 16.73x | 12.16x |
| Day 2 | 11.14x | - | - | 24.40x | 38.72x | 27.77x |
| Day 3 | 81.38x | - | - | 419.42x | 185.04x | 205.61x |
IPO Tentative Timetable
The Paragon Fine And Speciality Chemicals Limited IPO open date is Oct 26, 2023, and the close date is Oct 30, 2023. The issue may list on Nov 07, 2023.
| IPO Open Date | Oct 26, 2023 |
| IPO Close Date | Oct 30, 2023 |
| Basis of Allotment Date | Nov 02, 2023 |
| Initiation of Refunds | Nov 03, 2023 |
| Credit of Shares to Demat Account | Nov 06, 2023 |
| IPO Listing Date | Nov 07, 2023 |
IPO Lot Size
The Paragon Fine And Speciality Chemicals Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹120000 |
| Maximum | 1 | 1200 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 100% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4983.26 | 8436.94 | 439.77 |
| 31-Mar-22 | 5750.53 | 8457.92 | 449.02 |
| 31-Mar-23 | 7097.84 | 10501.19 | 989.21 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objectives: -
1. Funding capital expenditure towards civil construction work in the existing premises of the factory
2. Funding capital expenditure towards civil construction work in Plot No 10/A, Situated at Survey No. 1359, 1360 Village-Viramgam Taluka- Viramgam, District-Ahmedabad-382150, Gujarat.
3. Repayment in full or in part, of certain of our outstanding borrowings;
4. Funding Capital Expenditure towards the installation of additional plant and machinery for Expansion.
5. Funding to meet working capital requirements 6. General Corporate Purpose.
Paragon Fine And Speciality Chemicals Limited IPO Registrar:
Bigshare Services Pvt Ltd
Paragon Fine And Speciality Chemicals Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Paragon Fine And Speciality Chemicals Limited
1001/1, Parshwa Tower, Near Pakvan Hotel
S.G. Highway, Bodakdev
Ahmedabad, 380054
